Capital & Regional Regulatory News (CAL)

9 March 2015

Capital & Regional plc

RNS Notification pursuant to DTR3.1.4R (1) - Ordinary shares of 1p each

Capital & Regional plc (the "Company") announces that on 6 March 2015 Barclays Wealth Trustee (Guernsey) Limited, the trustee of the Capital & Regional plc Employee Ownership Trust 2002 (the "Trustee") granted the following share awards of ordinary shares of £0.01 under The Capital & Regional plc 2008 Long Term Incentive Plan (the "Plan") to the following Directors of the Company:

Hugh Scott-Barrett 1,064,935

Ken Ford 523,593

Charles Staveley 496,969

Mark Bourgeois 399,350

The exercise price for the awards granted is a maximum of 1p per share. Performance conditions, as measured over the three years from the date of the award, will determine the extent to which the awards will vest. In summary the awards will have a threshold of a share price at the end of the performance period (adjusted for cumulative dividends and distributions paid in the performance period) of 65p, at which 25% vest with 100% vesting at 90p. Vesting between these two points will be on a straight line basis. A deferral period will apply such that 50% of vested awards will not be capable of exercise for a period of 12 months with the other 50% not being capable of exercise for a further 12 months after that. Awards were also made to a group of senior management.

Greater detail on the scheme rules are set out in the Company's annual report.

In addition to the above newly issued awards the named Directors also hold awards from the issues in August 2014 and August 2013 as detailed below:

1 In line with the scheme rules, the number of awards granted to each recipient was increased by 2% in August 2014 to offset the dilutive impact of the £165 million capital raise that completed in July 2014.

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For further information: