Partnership Discussions

CAPITAL & REGIONAL PROPERTIES PLC
4 October 1999


Capital and Regional Properties plc, announces that, together with PRICOA
Property Investment Management Limited, it is in discussion with institutional
investors regarding the establishment of a limited partnership to invest in
in-town shopping centres in the United Kingdom.


For further information, please contact: 

Martin Barber, Chairman, Capital and Regional              0171 730 5565
Sarah Carrell, Corporate Communications, Capital and Regional

Ben Penaliggon, PRICOA Property Investment Management       0171 761 3300