Fund Valuations

Capital & Regional plc
11 January 2007

                                                                 11 January 2007


                            CAPITAL & REGIONAL PLC:

                 VALUATION OF MALL, JUNCTION AND X-LEISURE FUNDS

Capital & Regional plc, the co-investing property asset manager, today announced
that the unit values of the Mall Limited Partnership, the Junction Limited
Partnership and the X-Leisure Limited Partnership as at 31 December 2006 were as
follows:

                        Valuation  Unit value at  Unit value at  Underlying   Growth in                        C&R
                               of    31 December    31 December   valuation  unit value   Units owned   percentage
                       properties           2006           2005    change %    (geared)        by C&R      of fund

Mall Fund          £3,124,486,976        £2.4883        £2.0464       12.1%       21.6%   157,742,057        24.2%
Junction Fund      £1,589,504,857        £2.8481        £2.4904       11.0%       14.4%    85,000,000        27.3%
X-Leisure Fund       £807,350,000        £1.7586        £1.4050       13.0%       25.2%    22,846,559        10.6%


Notes:

The underlying valuation change shows the increase in the value of the portfolio
as a percentage of opening value adjusted for additions and disposals, over the
twelve months.

The growth in unit value reflects growth in the capital value of the fund over
the twelve months. In addition investors benefit from quarterly distributions of
net income and periodic capital distributions.


                                    - ENDS -


For further information:

Capital & Regional:
Martin Barber, Chief Executive                   Tel: [phone]
William Sunnucks, Group Finance Director         Tel: [phone]

Maitland
Martin Leeburn                                   Tel: [phone]
Emma Burdett                                     Tel. [phone]




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