Fund Valuations

Capital & Regional plc
21 February 2008







                                                                21 February 2008



                            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 January 2008 were 
as follows:




               Valuation of  Unit value Unit value at  Underlying  Change in   Units owned         C&R  Unit value
                 properties          at   31 December   valuation unit value        by C&R  percentage       at 31
                             31 January          2007    change %   (geared)                   of fund     January
                                   2008                       YTD        YTD                                  2008
                                                                                                        (incl MTM)
                                                              (1)        (2)
                                                                                                               (3)
Mall Fund    £2,956,389,208     £1.9719       £2.0642      (2.0)%     (4.5)%   157,742,057       24.2%     £1.9797
Junction     £1,217,247,184     £1.8129       £1.8704      (0.5)%     (3.1)%    85,000,000       27.3%     £1.8367
Fund
X-Leisure      £942,100,000     £1.6594       £1.6775      (0.6)%     (1.0)%    51,899,578       19.4%
Fund






Notes:

(1)     The underlying valuation change shows the increase/(decrease) in the
value of the portfolio as a percentage of opening value adjusted for additions
and disposals, over the month.

(2)     The change in unit value reflects the movement in the capital value
(excluding the impact of debt mark to market adjustments) of the fund over the
month.  Investors separately benefit from quarterly distributions of net income
and periodic capital distributions.

(3)     MTM - mark to market unit value including the surplus on revaluation of
interest rate swaps and fixed interest debt.



                                    - 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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