Placing of Shares

Capital & Regional plc
20 June 2005


Not for release, publication or distribution in, or into the United States,
Canada, Australia or Japan


FOR IMMEDIATE RELEASE


                                                                    20 June 2005


                             CAPITAL & REGIONAL PLC

                          issue of new ordinary shares

Further to this morning's announcement Capital & Regional plc announces that UBS
Limited has placed on its behalf 3,360,000 new ordinary shares representing just
under 5% of the existing issued share capital at a price of 815 pence per share
(the "Placing").


The Placing is conditional inter alia on the admission of the new ordinary
shares by the UK Listing Authority, their admission to trading on the London
Stock Exchange, for which application has been made and commencement of dealings
in the new ordinary shares. Dealings in the new ordinary shares, which will rank
pari passu in all respects with the existing ordinary shares in the company, are
expected to commence on Thursday 23 June 2005.


                                    - ENDS -


For further information:

Capital & Regional

Martin Barber, Chief Executive           Tel. [phone]

William Sunnucks, Group Finance Director Tel. [phone]



UBS Limited

Tim Guest / Michael Aaron                Tel. [phone]



gcg hudson sandler

Michael Sandler / James Benjamin         Tel. [phone]



Disclaimers

This announcement has been issued by, and is the sole responsibility of, Capital
& Regional.  UBS Limited is acting for Capital & Regional in connection with the
Placing and no-one else and will not be responsible to anyone other than Capital
& Regional for providing the protections offered to clients of UBS Limited nor
for providing advice in relation to the Placing.



Members of the public are not eligible to take part in the Placing.  This
announcement, in so far as it constitutes an invitation or inducement to
participate in the Placing, is directed only at persons who have professional
experience in matters relating to investments who fall within article 19(1) of
The Financial Services and Markets Act 2000 (Financial Promotion) Order 2001 (as
amended) (the "Order") or are persons falling within article 49(2) (a) to (d) of
the Order (all such persons together being referred to as "Relevant Persons").
This announcement, in so far as it constitutes an invitation or inducement to
participate in the Placing, must not be acted on or relied on by persons who are
not Relevant Persons.  Any investment or inducement activity in so far as
relating to participation in the Placing is available only to Relevant Persons
and will be engaged in only with Relevant Persons.



This announcement does not constitute an offer of securities for sale in the
United States. The information contained herein is not for publication or
distribution to persons in the United States. The new ordinary shares have not
been and will not be registered under the U.S. Securities Act of 1933 (the
"Securities Act") and may not be offered or sold in the United States unless
they are registered with the U.S. Securities and Exchange Commission or pursuant
to an exemption from the registration requirements of the Securities Act.


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