Director Shareholding

3 January 2020

CAPITAL & REGIONAL PLC ("Capital & Regional" or "the Company")

UK company number 01399411

LSE share code: CAL

ISIN: GB0001741544

LEI: 21380097W74N9OYF5Z25

DIRECTOR SHAREHOLDING

Louis Norval

The Company received notification on 2 January 2020 of the following trades connected to Louis Norval, a Non-Executive Director of the Company:

PDI Investment Holdings Limited sold 3,420,739 ordinary shares of 1 pence each in the Company to Mstead Limited at 25 pence per share effective on 30 December 2019. Mstead Limited also acquired 816,141 shares at 24 pence per share on the open market on 30 December 2019. Following the transactions PDI Investment Holdings Limited holds 41,365,501 ordinary shares and Mstead holds 52,357,394 ordinary shares, representing 3.98% and 5.04% of the Company's issued share capital respectively.

Kiyoma Lakes Trust acquired 25,000 ordinary shares of 1 pence each in the Company. The shares were acquired at 24 pence per share on 30 December 2019.

Rose Trust acquired 36,000 ordinary shares of 1 pence each in the Company. The shares were acquired at 24 pence per share on 30 December 2019.

All transactions were completed on the London Stock Exchange. In total the beneficial interest of Louis Norval and his family members in the Company has increased as a result of the above transactions to 94,073,908 ordinary shares, representing 9.06% of the Company's issued share capital.

This notification is made in accordance with the requirements of the EU Market Abuse Regulation.

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For further information:

Capital & Regional plc 020 7932 8000

Lawrence Hutchings

Stuart Wetherly

About Capital & Regional plc

Capital & Regional is a UK focused specialist property REIT with a strong track record of delivering significant value enhancing retail and leisure asset management opportunities across its portfolio of in-town, dominant community shopping centres.

Capital & Regional owns seven shopping centres in Blackburn, Hemel Hempstead, Ilford, Luton, Maidstone, Walthamstow and Wood Green. Capital & Regional manages these assets through its in-house expert property and asset management platform.

For further information see www.capreg.com.