Disposal

Capital & Regional plc
16 March 2004




                                                                   16 March 2004

                            CAPITAL & REGIONAL PLC:

         THE JUNCTION SELLS COCKHEDGE SHOPPING PARK FOR £43.25 MILLION



Capital & Regional plc, the co-investing property asset manager, today announces
that The Junction Limited Partnership ("The Junction"), in which it has a 28.4%
share, has sold its freehold interest in the Cockhedge Shopping Park in
Warrington to Halladale Group plc for £43.25 million.  The purchase price
reflects a net initial yield of 6.75%.


The property comprises over 270,000 ft(2) of open A1 retail space at the edge of
Warrington town centre, including a local shopping centre, a 74,000 ft(2) Asda
foodstore and retail warehouse space let to Argos, Comet and Carpetright, among
others.  The park has 10 principal retail units and let for an average length of
12 years on 45 leases and currently produces a rental income of £2.9 million per
annum.


Commenting on the transaction, Andrew Lewis-Pratt Chief Executive of The
Junction said:


"This sale is in-line with our strategy to create a prime retail park portfolio.
  Over the course of the past twelve months we have sold a number of our
non-core properties, in order to focus on destination retail parks which are
dominant in their catchment area, with development and asset management
potential."


King Sturge advised The Junction and FPD Savills represented Halladale.


                                    - ENDS -

For further information:

Capital & Regional plc
Martin Barber, Chief Executive, Capital & Regional           Tel:  [phone]
Andrew Lewis-Pratt, Chief Executive, The Junction            Tel:  [phone]
William Sunnucks, Group Finance Director                     Tel:  [phone]


Hudson Sandler
Andrew Hayes / James Benjamin                                Tel:  [phone]


Notes to Editors:
About Capital & Regional plc

Capital & Regional is the co-investing asset manager which founded the Mall and
Junction Limited Partnerships in conjunction with Morley Fund Management.  Its
shares are quoted on the London Stock Exchange, and in addition to its
management contract with and co-investment in the Mall and Junction funds, it
runs the three X-Leisure funds and has a number of other joint ventures and
developments.  For further information:  www.capreg.com


About The Junction

The Junction is the brand name of The Junction Limited Partnership, established
by Morley Fund Management and Capital & Regional plc to own and operate
destination retail parks throughout the UK.  The Junction has assets of over
£800 million in 16 retail parks and has plans to grow assets to £2 billion in up
to 35 locations, establishing The Junction as the UK's Finest Destination Retail
Park brand.  For further information visit:  www.thejunction-uk.com




                      This information is provided by RNS
            The company news service from the London Stock Exchange