Results of scrip dividend election CAPITAL & REGIONAL PLC (Incorporated in the United Kingdom) (UK company number 01399411) LSE share code: CAL JSE share code: CRP ISIN: GB0001741544 ("Capital & Regional" or "the Company") RESULTS OF SCRIP DIVIDEND ELECTION Capital & Regional is pleased to announce that a total of 3,149,015 ordinary shares of £0.01 each in the Company ("scrip dividend shares") are to be issued pursuant to the election offered to shareholders to receive the interim dividend for the six months ended 30 June 2018 by way of the issue of new ordinary shares. This represents approximately 0.4% per cent of the current issued share capital of the Company. The scrip dividend shares will rank pari passu in all respects with the Company's existing issued ordinary shares. An application will be made for the scrip dividend shares to be admitted to the Premium Segment of the Official List of the United Kingdom Listing Authority, to trading on the London Stock Exchange's Main Market for listed securities, and to be listed on the Johannesburg Stock Exchange ("admission"). It is expected that admission will occur on Thursday, 25 October 2018. Following the issue of the scrip dividend shares, the total number of shares in issue and voting rights in Capital & Regional will be 726,389,117 with effect from Thursday, 25 October 2018. This may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, Capital & Regional under the UK Financial Conduct Authority's Disclosure and Transparency Rules. Share certificates will be posted to certificated shareholders who elected to receive scrip dividend shares on Thursday, 25 October 2018. The CREST, CSDP or broker accounts of dematerialised shareholders who elected to receive scrip dividend shares will be credited with scrip dividend shares on Thursday, 25 October 2018. 15 October 2018 JSE sponsor Java Capital Notes to editors: About Capital & Regional plc Capital & Regional is a UK focused specialist property REIT with a strong track record of delivering value enhancing retail and leisure asset management opportunities across a c. £1 billion portfolio of in-town dominant community shopping centres. Capital & Regional is listed on the main market of the London Stock Exchange and has a secondary listing on the Johannesburg Stock Exchange. Capital & Regional owns seven shopping centres in Blackburn, Hemel Hempstead, Ilford, Luton, Maidstone, Walthamstow and Wood Green. It also has a 20% joint venture interest in the Kingfisher Centre in Redditch. Capital & Regional manages these assets, which comprise over 900 lettable units and attract c. 1.7 million shopping visits each week, through its in-house expert property and asset management platform. For further information see www.capreg.com. Date: 15/10/2018 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.