Directors' Interest

Capital & Regional plc
21 October 2003

Directors' Interest



The independent trustee of the Capital & Regional plc Employee Share Ownership
Trust has on 20 October 2003 purchased 48,122 ordinary shares at a price of
£3.88 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 transactions, the independent trustee holds a total of 1,024,000
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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