Acquisition

Capital & Regional plc
27 January 2005

                                                                 27 January 2005


                              CAPITAL & REGIONAL PLC:

          KITTYBREWSTER RETAIL PARK, ABERDEEN ACQUIRED BY THE JUNCTION


Capital & Regional plc, the co-investing property asset manager, today announces
that The Junction has purchased the Kittybrewster Retail Park in Aberdeen from
Legal & General for £52.62 million, showing an initial yield of 4.73% and an
equivalent yield of 5.75%.


Tenants on the park, which has unrestricted Class I (non-food) planning
permission, include DFS, Currys, Comet, Halfords, Carpetright, TKMaxx and Office
World.  The park totals 140,824 sq ft and has achieved a top rent of £22.50 psf.



Andrew Lewis-Pratt, Chief Executive of The Junction comments, "The purchase of
Kittybrewster Retail Park is a significant addition to our 3.2 million sq ft
prime retail park portfolio. The purchase reflects our ongoing strategy to
enlarge our Junction portfolio by investing in destination retail parks with
high development and asset management potential, particularly those dominant
within their catchments.


Stockford Staunton and Eric Young & Co acted for Legal & General, with Jones
Lang LaSalle acting for The Junction.


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


About The Junction
The Junction owns and operates an £1 billion destination retail park portfolio,
which includes 17 retail parks located throughout the UK.


For further information visit:  www.thejunction-uk.com



                                    - ENDS -



For further information:

Capital & Regional:
Martin Barber, Chief Executive                    Tel. [phone]
William Sunnucks, Group Finance Director          Tel. [phone]


gcg hudson sandler
Michael Sandler / James Benjamin                  Tel:  [phone]


Redwood Consulting:
Kate Hewson                                       Tel: [phone]





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