Fund Valuations

Capital & Regional plc
11 April 2007



                                                                   11 April 2007


                            CAPITAL & REGIONAL PLC:

               VALUATION OF MALL, JUNCTION AND X-LEISURE FUNDS


Capital & Regional plc, the co-investing property asset manager, today announced
that the unit values of the Mall Limited Partnership, the Junction Limited
Partnership and the X-Leisure Limited Partnership as at 31 March 2007 were as
follows:


               Valuation of   Unit value at    Unit value at  Underlying  Growth in   Units owned         C&R
                 properties        31 March 31 December 2006   valuation unit value        by C&R  percentage
                                                                change %   (geared)                   of fund
                                       2007
Mall Fund    £3,165,536,952         £2.4900          £2.4883        0.4%       0.1%   157,742,057       24.2%
Junction     £1,596,728,573         £2.8079          £2.8481        0.1%     (1.4)%    85,000,000       27.3%
Fund
X-Leisure      £925,500,000         £1.7960          £1.7586        1.4%       2.1%    51,949,578       19.4%
Fund


Notes:

The underlying valuation change shows the increase in the value of the portfolio
as a percentage of opening value adjusted for additions and disposals, over the
three months.


The growth in unit value reflects growth in the capital value of the fund over
the three months.  In addition investors benefit from quarterly distributions of
net income and periodic capital distributions.


The small reduction in unit value in the Junction fund is due to a capital
distribution in March to Junction Limited Partnership unit holders of £0.024 per
unit.


                                    - ENDS -

For further information:

Capital & Regional:

Martin Barber, Chief Executive                    Tel. [phone]

William Sunnucks, Group Finance Director          Tel. [phone]


Maitland

Martin Leeburn                                    Tel:  [phone]

Emma Burdett                                      Tel.  [phone]


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