Junction Fund Update

RNS Number : 2351L

Capital & Regional plc

07 January 2009

THE JUNCTION LIMITED PARTNERSHIP

Capital & Regional plc, the co-investing property manager, today announces changes in the management structure of The Junction retail parks Fund and an update on the financial position of the Fund.

John Gatley, Managing Director of Retail Parks, has decided to pursue opportunities outside Capital & Regional and will leave the company on 31 March 2009.

Hugh Scott-Barrett, Chief Executive, commented:

"I would like to thank John for his leadership over the last two years and the contribution he has made, in particular to a number of successful developments. I wish him every success and look forward to using his skills in an advisory capacity in the future."

The Junction team will report to Ken Ford, Executive Director, with immediate effect, ensuring the Fund continues to benefit from the broader retail expertise within the Capital & Regional Group.

As at 31 December 2008, The Junction was in compliance with its LTV covenants. The monthly unit price valuation for December, together with a trading update for the Group, will be announced on Monday, 12 January 2009. Capital & Regional owns 27.3% of the units in The Junction.