Acquisition of Remaining 50% of Xscape Braehead, Glasgow

CAPITAL SHOPPING CENTRES GROUP PLC - Acquisition of Remaining 50% of Xscape Braehead, Glasgow

PR Newswire

London, December 24

27 DECEMBER 2012

CAPITAL SHOPPING CENTRES GROUP PLC

Capital Shopping Centres announces acquisition of remaining 50% of

Xscape Braehead, Glasgow

Capital Shopping Centres (CSC) today announced that it has agreed terms toacquire Capital & Regional's 50% interest in Xscape Braehead for considerationof £4.0 million.

CSC will now own 100% of the Xscape Braehead Partnership which owns the 370,000sq ft family entertainment destination adjacent to its Braehead shoppingcentre. Xscape Braehead combines `real' snow slopes with urban and lifestyleretailers, cool bars and restaurants, a 12 screen cinema, family attractionsand extreme activities.

The Xscape Braehead Partnership had gross assets of £56.7 million at 30 June2012 including property valued at £53.5 million, with debt of £45.6 millionsecured on the property. The Xscape Braehead Partnership generated net rentalincome of £3.2 million and profit before tax of £3.4 million, including a £2.8million gain on revaluation of property in the year ended 31 December 2011.

Commenting on the acquisition Mike Butterworth, CSC's Chief Operating Officer,said:

"CSC is delighted to have secured sole ownership of Xscape Braehead. Thishighlights our focus on offering our visitors the most compelling retail andleisure destinations and underlines our commitment to the Braehead area whichhas considerable scope for further regeneration to the benefit of the localcommunity."

ENQUIRIES:

A copy of this announcement is available for download from our website at

www.capital-shopping-centres.co.uk

NOTES TO EDITORS:

Capital Shopping Centres is the leading specialist UK regional shopping centre REIT.

We own and operate many of the very best shopping centres, in the strongest locations right across the country, attracting over 320 million customer visitsa year. We estimate that half of the UK population, some 30 million people, visit a CSC centre every year and two thirds live within a 45 minute drive timeof one of our centres.

With over 16 million sq ft of retail space, valued at £7 billion, every single one of the UK's top 20 retailers is in our shopping centres, alongside some of the world's most iconic global brands.

We own ten of the UK's top 25 shopping centres including The Trafford Centre, Lakeside, Metrocentre, Braehead, and The Mall at Cribbs Causeway, and in-town prime destinations such as Cardiff, Manchester, Newcastle, Norwich, Nottingham,Bromley, Uxbridge, Watford and Stoke-on-Trent.

In November 2011, we acquired Broadmarsh shopping centre in Nottingham bringingour portfolio to 15 centres.

We are fully committed to supporting our local communities and the wider environment through meaningful and hands-on initiatives.

This announcement contains "forward-looking statements" regarding the belief orcurrent expectations of Capital Shopping Centres Group PLC, its Directors andother members of its senior management about Capital Shopping Centres GroupPLC's businesses, financial performance and results of operations. Theseforward-looking statements are not guarantees of future performance. Rather,they are based on current views and assumptions and involve known and unknownrisks, uncertainties and other factors, many of which are outside the controlof Capital Shopping Centres Group PLC and are difficult to predict, that maycause actual results, performance or developments to differ materially from anyfuture results, performance or developments expressed or implied by theforward-looking statements. These forward-looking statements speak only as atthe date of this announcement. Except as required by applicable law, CapitalShopping Centres Group PLC makes no representation or warranty in relation tothem and expressly disclaims any obligation to update or revise anyforward-looking statements contained herein to reflect any change in CapitalShopping Centres Group PLC's expectations with regard thereto or any change inevents, conditions or circumstances on which any such statement is based.

Any information contained in this announcement on the price at which shares orother securities in Capital Shopping Centres Group PLC have been bought or soldin the past, or on the yield on such shares or other securities, should not berelied upon as a guide to future performance.