Disposal

Capital & Regional plc
17 November 2005






                                                                17 November 2005

                        CAPITAL & REGIONAL PLC:

                 £27.75 MILLION INDUSTRIAL ESTATE SALE


Capital & Regional plc, the co-investing property asset manager, has today
announced that following the exchange of contracts for the acquisition of the T3
portfolio from AXA and Warner Estates for £96m, it has exchanged contracts for
the subsale of 10 industrial estates to CBRE Investors for £27.75m.  Strutt &
Parker acted for CBRE Investors.


Andrew Lewis-Pratt, a Director of Capital & Regional plc, comments,


"This sub sale enables us to focus on the trade park sector of the portfolio
where we see the greatest opportunities for our team to add value"


Notes to editors:


About Capital & Regional plc

Capital & Regional is the co-investing asset manager which specialises in town
centre shopping centres, out of town retail parks, and urban entertainment
complexes.

Capital & Regional founded the Mall and Junction Funds in conjunction with
Morley Fund Management.  It also founded the X-Leisure fund with Hermes
Investment Management Limited, and has a number of other joint ventures and
developments.  Its shares are quoted on the London Stock Exchange.

For further information see www.capreg.com



                                    - ENDS -

Capital & Regional plc:
Martin Barber, Chief Executive                Tel. [phone]


Redwood Consulting:
Pia Choudhury                                 Tel:  [phone]


gcg hudson sandler
Michael Sandler / James Benjamin              Tel:  [phone]


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