Director Shareholding

Capital & Regional plc
24 June 2005

                                                                    24 June 2005


                            CAPITAL & REGIONAL PLC:

                             DIRECTOR SHAREHOLDING


The Company has today received notification under Section 324 of the Companies
Act 1985 of the following Directors' interests in ordinary shares of 10p each in
the Company:


Name of director           Martin Barber    Kenneth Ford        Andrew            William Sunnucks  PY Gerbeau
                                                                Lewis-Pratt

Holding in respect of      Holding in       Holding in respect  Holding in        Holding in        Holding in
shareholder or             respect of       of director         respect of        respect of        respect of
non-beneficial interest of director                             director          director          director
spouse or children

Name of registered holder  Martin Barber    Kenneth Ford        Andrew            William Sunnucks  PY Gerbeau
                                                                Lewis-Pratt

Connected person           No               No                  No                No                No

Nature of transaction      Exercise of LTIP Exercise of LTIP    Exercise of LTIP  Exercise of LTIP  Exercise of LTIP
                           and part sale of and part sale of    and part sale of  and part sale of  and part sale of
                           shares           shares              shares            shares            shares

Number of shares acquired  84,138           76,490              76,490            30,596            58,132

Percentage of issued class 0.13%            0.11%               0.11%             0.05%             0.09%

Number of shares disposed  35,274           32,067              32,067            12,827            24,371

Percentage of issued class 0.05%            0.05%               0.05%             0.02%             0.04%

Class of security          Ordinary 10p     Ordinary 10p shares Ordinary 10p      Ordinary 10p      Ordinary 10p
                           shares                               shares            shares            shares

Price per share            £8.1684          £8.1684             £8.1684           £8.1684           £8.1684

Date of transaction        24 June 2005     24 June 2005        24 June 2005      24 June 2005      24 June 2005

Date company informed      24 June 2005     24 June 2005        24 June 2005      24 June 2005      24 June 2005

Total shareholding         2,403,579        426,490             58,576            26,954            33,761
following this
notification

Total percentage holding   3.57%            0.63%               0.09%             0.04%             0.05%
of issued class following
this notification



In addition Lynda Coral, the ex financial director, has acquired 56,602 ordinary
shares of 10p each in the Company through the exercise of her LTIP on 24 June
2005.  Lynda Coral has disposed of all 56,602 shares at the same price as the
directors.

These shares have been acquired following the vesting of awards made under the
Capital & Regional plc Long Term Incentive Plan 2002.  In each case the
directors have only disposed of those shares necessary to cover their
anticipated income tax liability.

- ENDS -


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