Fund Valuations

Capital & Regional plc
14 January 2008



                                                                 14 January 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 December 2007 were as
follows:


               Valuation of  Unit value Unit value at  Underlying  Change in   Units owned         C&R  Unit value
                 properties          at   31 December   valuation unit value        by C&R  percentage       at 31
                            31 December          2006    change %   (geared)                   of fund    December
                                   2007                       YTD        YTD                                  2007
                                                              (1)        (2)                            (incl MTM)
                                                                                                               (3)
Mall Fund    £3,015,687,792     £2.0642       £2.4883      (7.9)%    (17.0)%   157,742,057       24.2%     £2.0878
Junction     £1,222,962,884     £1.8704       £2.8481     (19.8)%    (34.3)%    85,000,000       27.3%     £1.9120
Fund
X-Leisure      £947,100,000     £1.6775       £1.7586      (1.7)%     (4.6)%    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 year.

(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
year.  Investors separately benefit from quarterly distributions of net income
and periodic capital distributions.

        Capital distributions to fund unit holders reduce the unit price.  In
the year Mall unit holders have received capital distributions of £0.04 per
unit, Junction unit holders have received £0.03 per unit and X-Leisure unit
holders have received £0.005 per unit.

(3)     MTM - mark to market unit value including the surplus on revaluation of
interest rate swaps and fixed interest debt.


                                    - 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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