Funds Valuation

Capital & Regional plc
09 November 2005


                                                                 9 November 2005





                            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 October 2005 were as
follows:


               Valuation of   Unit value at    Unit value at  Underlying  Growth in   Units owned         C&R
                 properties      31 October 31 December 2004   valuation unit value        by C&R  percentage
                                                                change %   (geared)                   of fund
                                       2005
Mall Fund    £2,238,788,660         £1.9220          £1.7604        5.5%       9.2%   170,000,000       26.1%
Junction     £1,338,475,135         £2.1339          £1.8661        8.8%      14.4%    85,000,000       27.3%
Fund
X-Leisure      £675,400,000         £1.2938          £1.1333        5.3%      14.2%    22,846,559       10.7%
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
ten months.



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



                                    - ENDS -

For further information:

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


gcg hudson sandler
Michael Sandler / James Benjamin                Tel:  [phone]


                      This information is provided by RNS
            The company news service from the London Stock Exchange                    F