Result of EGM - Replacement

Capital & Regional PLC
18 February 2002


The issuer advises that the following replaces the 'Result of EGM' announcement
released earlier today at 12:55pm under RNS Number 6230R. 'Proxies in respect of
50,094,858' should have read '58,380,736' and 'in respect of 46,106,229 shares,
representing 92.0%' should have read 'in respect of 46,106,229 ordinary shares,
representing 78.98%'.  All other details remain unchanged.  The full amended
text appears below.


                                                                18 February 2002


                     Capital & Regional plc (the 'Company')

                               Result of the EGM

At the Extraordinary General Meeting of the Company held today, shareholders
voted in favour of the resolution to approve the formation of a £670 million
shopping centre fund with clients of Morley Fund Management Limited. Proxies in
respect of 58,380,736 shares, not including abstentions, were received of which
proxies in respect of 46,106,229 ordinary shares, representing 78.98% of the
total number of votes by proxy, were in favour of the resolution.

Tom Chandos, Chairman, commented: 'We are delighted that shareholders have given
such overwhelming support to the Board's strategy to build shareholder value by
leveraging our skills and capital across a much larger asset base. We hope that
this ringing endorsement will put an end to the unnecessary distractions of
recent weeks so that management can fully focus on exploiting the exciting
opportunities before the Company.'

Completion of this transaction is expected to occur on 28 February 2002.

Enquires: Andrew Hayes, Hudson Sandler Ltd. Telephone: [phone]


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