Fund Valuations

RNS Number : 6717B

Capital & Regional plc

19 August 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 31 July 2008 were as follows:

	Valuation of properties	Unit value at 31 July 2008	Unit value at 31 December 2007	Underlying valuation change YTD (1)	Change in unit value (geared) YTD (2)	Units owned by C&R	C&R percentage of fund
Mall Fund	£2,249,090,787	£1.1918	£2.0642	(16.6)%	(42.3)%	157,742,057	16.7%
Junction Fund	£1,040,859,744	£1.4584	£1.8704	(10.8)%	(22.0)%	85,000,000	27.3%
X-Leisure Fund	£881,850,000	£1.4238	£1.6775	(7.8)%	(15.1)%	51,899,578	19.4%

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 seven 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 seven months. Investors separately benefit from quarterly distributions of net income and periodic capital distributions.