Acquisition, etc

Capital & Regional PLC
29 June 2000

                                                                              
                 CAPITAL & REGIONAL ACQUIRES CO-OP STORE AND                  
                    LETS TO TWO MAJOR FASHION RETAILERS AT                    
                          ALHAMBRA CENTRE, BARNSLEY                           

Capital & Regional plc, the specialist retail and leisure property investment
company, and owners of the Alhambra Centre, Barnsley, announces today that it
has acquired the 64,500 sq ft Co-Op (CRS) Living department store, which
interconnects into the centre, for £5.2 million. It has also re-let all of the
space to two major fashion retailers.  

Primark Stores Ltd has signed a 25 year lease at a rental of £300,000 per
annum and will be situated on the ground floor of the centre, occupying 41,000
sq ft.  TK Maxx has taken 23,500 sq ft of retail space, situated on the first
floor, on a 15 year lease (with an option to break in the eleventh year) and
at a rent of £150,000 per annum. 

Shopfitting in both stores will begin shortly and will be ready to open on 31
October 2000, in time for Christmas trading. 

Commenting on the deal, Ken Ford, Executive Director, Capital & Regional,
said: 

'This a great news for Alhambra and Barnsley. Both TK Maxx and Primark are
popular fashion retailers and are new to Barnsley. Each store will provide
merchandise at affordable prices, complementing Alhambra's value-based offer.'

He concluded: 'In the coming months, Capital & Regional will be progressing
other initiatives to further improve the scheme whilst maintaining the
Alhambra Centre's modern, convenient, stress-free shopping environment. '

Notes to editors:

1. Primark will be situated on the ground floor occupying 25,000 sq ft of
retail space and 15,873 sq ft of ancillary accommodation.
2. TK Maxx will be on the first floor with 22,000 sq ft of retail space plus
1,543 sq ft of ancillary accommodation.
3. Letting agents Fawley & Booth and Chesterton are retained on behalf of
Capital & Regional plc for the Alhambra Centre.  

For further information please contact:
Dinah Lartey, Public Relations Manager or Sarah Carrell, Head of Corporate
Communications, Capital & Regional plc on 020 7932 8000.