Fund Valuations

Capital & Regional plc
14 November 2006

                                                                14 November 2006

                            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 October 2006 were as
follows:

                                        Unit       Unit                 Growth
                        Valuation   value at   value at   Underlying   in unit        Units          C&R
                               of     31 Oct     31 Dec    valuation     value        owned   percentage
                       properties       2006       2005     change %  (geared)       by C&R      of fund

Mall Fund          £3,072,086,984    £2.4534    £2.0464        10.7%     19.9%   157,742,057       24.2%
Junction Fund      £1,526,815,167    £2.6967    £2.4904         6.9%      8.3%    85,000,000       27.3%
X-Leisure Fund       £785,425,000    £1.7256    £1.4050        10.3%     22.8%    22,846,559       10.6%


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
ten months.

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


                                    - 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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