CAPITAL & COUNTIES PROPERTIES PLC - Capco Completes Joint Venture for Seagrave Road

Capco Completes Joint Venture for Seagrave Road

Capital & Counties Properties PLC
(Incorporated and registered in the United Kingdom and Wales with registration Number 07145041
and registered in South Africa as an external company with Registration Number 2010/003387/10)
JSE code: CCO
ISIN: GB00B62G9D36

31 August 2012

Capital & Counties Properties PLC

CAPCO COMPLETES JOINT VENTURE FOR SEAGRAVE ROAD

The development in and around Seagrave Road remains on track to commence in 2013 following the
completion of the remaining formalities for the creation of a joint venture between Capital & Counties
Properties PLC (“Capco”) and entities in which certain members of the Kwok family are interested (the
“Kwok Family Interests”). The development will deliver 808 new homes and a new garden square for
London. On completion of the 50:50 joint venture, in accordance with the conditional agreement
reached between the parties in December 2011, Capco received cash consideration of approximately
£67 million from the Kwok Family Interests for the 50 per cent interest in the development, which
includes the Seagrave Road site and other adjacent assets.

Ian Hawksworth, Chief Executive of Capco said:

“We are pleased to have completed our joint venture agreement in relation to the Seagrave Road
project and look forward to starting on site in 2013 to create this exciting new residential quarter for
London.”

                                                -Ends-

Capital & Counties Properties PLC                 Tel:   + 44 (0)20 3214 9150
Ian Hawksworth, Chief Executive
Soumen Das, Finance Director
Gary Yardley, Investment Director

For financial media enquires please contact:
Hudson Sandler (UK)                              Tel:    +44 (0) 20 7796 4133
Michael Sandler/Wendy Baker

College Hill (South Africa)                      Tel:    +27 11 447 3030
Nicholas Williams

For general media enquiries please contact:
Chris Rumfitt, Edelman                           Tel:    +44 (0) 7967 226646




31 August 2012
Sponsor: Merrill Lynch South Africa Proprietary Ltd


Notes to Editors:

About Capital & Counties Properties PLC (Capco):

Capco is one of the largest investment and development property companies that specialises in
central London real estate and is a constituent of the FTSE-250 Index. CAPCO holds 3.0 million
square feet of assets valued at £1.6 billion (as at 30 June 2012) in three landmark London estates:
Covent Garden, which has assets valued at £856 million, including the historic Market Building; Earls
Court & Olympia Group and 50% of the Empress State building in Earls Court amounting to
aggregate property assets of £620 million; and the Great Capital Partnership, a joint venture with
Great Portland Estates, which holds prime West End properties of which Capco’s share is £159
million. The company is listed on the London Stock Exchange and the JSE, Johannesburg.

About the Seagrave Road joint venture:

Capco and the Kwok Family Interests now own 50 per cent each of a joint venture through which the
7.5 acre site at Seagrave Road and other adjacent assets are held.

A detailed planning application for the Seagrave Road Site was submitted in June 2011 and detailed
planning consent was received in March 2012. The scheme, which covers approximately one million
square feet and will replace the existing car park, provides for the delivery of a high quality, mixed
tenure residential neighbourhood comprising 808 new homes and a range of amenities. The site is
set within the wider Earls Court & West Kensington Opportunity Area (ECOA).

As previously stated, the total development costs of the scheme (excluding land) are estimated to be
in the region of £300 million. It is currently envisaged that the peak capital requirement for the joint
venture (excluding land) would be limited to circa £100 million through a phased implementation of
the project.

Date: 31/08/2012 08:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.