Share buyback

Capital & Regional plc
13 June 2007


                                                                    13 June 2007


                            CAPITAL & REGIONAL PLC

                      ANNOUNCES SHARE BUYBACK PROGRAMME


Capital & Regional plc, the co-investing property asset manager, today announces
that it intends to commence a limited share buyback programme.  The directors
believe the Company's co-investing asset manager business model has excellent
prospects to deliver enhanced returns to its shareholders.  The Board has
decided to initiate a limited share buyback programme when it considers it is
appropriate for the Company to do so, taking into account alternative investment
opportunities.


Notes to editors:

About Capital & Regional plc

Capital & Regional is the co-investing asset manager which specialises in town
centre shopping centres, out of town retail parks, and urban entertainment
complexes.

Capital & Regional founded the Mall and Junction Funds in conjunction with
Morley Fund Management.  It also founded the X-Leisure fund with Hermes
Investment Management Limited, and has a number of other joint ventures and
developments.  Its shares are quoted on the London Stock Exchange.

For further information see www.capreg.com



                                    - ENDS -

For further information:

Capital & Regional:
William Sunnucks, Group Finance Director                    Tel:  [phone]

UBS Limited:
James Archer                                                Tel:  [phone]

Maitland
Martin Leeburn                                              Tel:  [phone]
Emma Burdett                                                Tel:  [phone]


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