Long Term Incentive Plan

Capital & Regional PLC
22 November 2002


Capital & Regional plc

22 November 2002


Circular to Shareholders dated 22 November 2002 re Proposal to establish The
Capital & Regional plc Long Term Incentive Plan 2002 and The Capital & Regional
plc Appreciation Plan 2002

Copies of the above document have been submitted to the UK Listing Authority and
will be available for inspection at the UK Listing Authority's Document Viewing
Facility, which is situated at:

The Financial Services Authority
25 The North Colonnade
Canary Wharf
London E14 5HS
Tel. No. [phone]


Enquiries:

Viscount Chandos, Chairman 020 7499 7772

END

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