Disposal

Capital & Regional PLC
1 May 2001



CAPITAL & REGIONAL SELLS CHANNONS HILL RETAIL PARK, BRISTOL TO TRITON PROPERTY
                                 FUND FOR £6M

Capital & Regional plc, the specialist retail and leisure property investment
company, today announces that it has completed the sale of Channons Hill
Retail Park in Bristol to Triton Property Fund (UBS Asset Management) for £
5.875 million, at a net initial yield of approximately 8%.

The 60,000 sq ft (5,576 sq m) park was acquired by Capital & Regional in
November 1996. Current tenants include LIDL, Currys and Great Mills, with
approximately 250 car parking spaces.

Commenting on the disposal, Andrew Lewis-Pratt, Managing Director of Retail
Parks at Capital & Regional said: 'Since acquisition, we have successfully
refurbished the park to include new stores. This has been a good investment
for us and its disposal enables us to focus on our stated strategy of owning
larger, destination parks of over 150,000 sq ft.'

Capital & Regional was represented by Harvey Spack Field and Triton Property
Fund by King Sturge.

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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 8000

Our corporate website address is www.capreg.com