Director Shareholding

Capital & Regional plc
11 May 2004


Directors' Interest


The independent trustee of the Capital & Regional plc Employee Share Ownership
Trust has on 10 May 2004 purchased 99,633 ordinary shares at a price of £4.80
per ordinary share to hold the shares for delivery to the participants eligible
to participate in the Company's Long Term Incentive Plan.

Following the transaction, the independent trustee holds a total of 1,653,411
ordinary shares.

The following executive directors, together with other employees, are potential
beneficiaries and are therefore treated as having interest: Mr. M. Barber, Mr.
X. Pullen, Mr. W. Sunnucks, Mr. K. Ford, Mr. A. Lewis-Pratt and Mr. PY Gerbeau.

END


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