Fund Valuations

Capital & Regional plc
12 June 2007


                                                                    12 June 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 May 2007 were as
follows:


               Valuation of   Unit value at    Unit value at  Underlying  Growth in   Units owned         C&R
                 properties          31 May 31 December 2006   valuation unit value        by C&R  percentage
                                                                change %   (geared)                   of fund
                                       2007
Mall Fund    £3,184,036,888         £2.4777          £2.4883        0.5%     (0.4)%   157,742,057       24.2%
Junction     £1,576,481,690         £2.7425          £2.8481      (1.2)%     (3.7)%    85,000,000       27.3%
Fund
X-Leisure      £933,450,000         £1.8135          £1.7586        2.3%       3.1%    51,949,578       19.4%
Fund



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
five months.



The growth in unit value reflects growth in the capital value of the fund over
the five months.  In addition investors 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.





                                    - 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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