Result of Tender Offer

Capital & Regional PLC
22 April 2002

Capital & Regional plc (the "Company") announces that the tender offer to 
repurchase up to £50 million of ordinary shares at a price of £2.85 per share 
closed at 3.00 pm on 19 April 2002.

The result of the tender offer was that 39,181,932 ordinary shares were 
tendered. Since the aggregate number of shares tendered exceeded the maximum 
number of shares for which the tender was made, all tenders above each 
shareholder's basic entitlement of 22.2 per cent will be scaled down pro rata 
so that 19.4 per cent of any shares tendered in excess of the basic entitlement
will be repurchased.

Settlement of the consideration due under the offer is expected to be made on 
26 April 2002.

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