Capital & Regional Regulatory News (CAL)

 16 November 2012

CAPITAL & REGIONAL PLC

X-LEISURE FUND

Capital & Regional plc announces that it has received a proposal to acquire its units in the X-Leisure Fund and its 50% stake in X-Leisure Limited. Discussions are at an advanced stage.

Should an offer for the X-Leisure Fund units be forthcoming, the transaction would be subject to the approval of unit holders. In addition, due to the size of the potential disposal, the Company would be required to seek shareholder approval. Further information will be provided in due course.

ENDS

For further information :

Capital & Regional:

Hugh Scott-Barrett, Chief Executive Tel: 020 7932 8000

Charles Staveley, Group Finance Director Tel: 020 7932 8000

Maitland:

Martin Leeburn/Emma Burdett Tel: 020 7379 5151

Notes to editors:

About Capital & Regional plc

Capital & Regional is a specialist property company with a track record of developing asset management opportunities in town centre shopping centres and out of town retail parks.

Capital & Regional founded The Mall fund in conjunction with Aviva Investors. Capital & Regional acts as Property and Asset Manager for the Mall fund and holds a 20.15% interest in it.

Capital & Regional & AREA Property Partners each hold a 50% interest in a German retail property portfolio which is managed by Garigal Asset Management GmbH, in which Capital & Regional holds a 30% interest. 

Capital & Regional has an 11.9% stake in the X-Leisure fund, which is managed by X-Leisure Limited in which Capital & Regional holds a 50% interest.

Capital & Regional has a number of other joint ventures and wholly-owned properties.

For further information see www.capreg.com]