Disposal

Capital & Regional PLC
12 December 2000



  CAPITAL & REGIONAL SELLS WESTWAY SHOPPING PARK, GREENFORD TO CO-OPERATIVE   
                          INSURANCE SOCIETY FOR £44M                          

Capital & Regional plc, the specialist retail and leisure property investment
company, today announces that it has exchanged contracts for the sale of
Westway Shopping Park, Greenford in Middlesex to Co-operative Insurance
Society Limited for £43.75 million, at a net initial yield of approximately
5.75%.  The proceeds will be used to reduce borrowing and continue the share
buy-back programme.

The development was acquired in February 1999 and currently comprises of
approximately 120,000 sq ft (11,152 sq m) of open A1 non-food retail and
leisure, together with 620 car parking spaces, on a 10.5 acre site.  The park
is approximately 90% let to tenants including Next, Sports Soccer, Brantano,
McDonalds, Boots, Carphone Warehouse, Hobbycraft, Holiday Hypermarket and
Outfit.  

Commenting on the disposal, Andrew Lewis-Pratt, Managing Director of Retail
Parks and Xscape at Capital & Regional said:

'This park has been an excellent investment for us.  Since acquisition, we
have used our management expertise to achieve a significant number of new
lettings making it a destination for fashion and retail in the community.  The
disposal enables us to focus on our stated retail park strategy of owning
significant parks of over 150,000 sq ft '

Capital & Regional was represented by Harvey Spack Field and Co-operative
Insurance Society Limited by King Sturge.


For further information please contact:
Martin Barber, Chief Executive, Capital & Regional       0207 932 8000
Andrew Lewis-Pratt, Capital & Regional                     0207 932 8000
Lynda Coral, Financial Director, Capital & Regional        0207 932 8000
Sarah Carrell, Corporate Communications, Capital & Regional 0207 932 8120