Fund Valuations

Capital & Regional plc
13 March 2008


                                                                   13 March 2008



                            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 29 February 2008 were as
follows:




               Valuation of   Unit value Unit value at   Underlying  Change in   Units owned          C&R
                 properties           at   31 December    valuation unit value        by C&R   percentage
                             29 February          2007  change  YTD   (geared)                    of fund
                                    2008                                   YTD
                                                                (1)       (2)
Mall Fund    £2,905,089,303      £1.8879       £2.0642       (3.8)%     (8.5)%   157,742,057        24.2%
Junction     £1,200,579,585      £1.7894       £1.8704       (1.9)%     (4.3)%    85,000,000        27.3%
Fund
X-Leisure      £937,900,000      £1.6443       £1.6775       (1.0)%     (2.0)%    51,899,578        19.4%
Fund





Notes:

(1)     The underlying valuation change shows the increase/(decrease) in the
value of the portfolio as a percentage of opening value adjusted for additions
and disposals, over the two months.

(2)     The change in unit value reflects the movement in the capital value
(excluding the impact of debt mark to market adjustments) of the fund over the
two months.  Investors separately 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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