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.”

For general media enquiries please contact:
Chris Rumfitt, Edelman: Tel - 020 7967 226646

For further information please contact:
Ian Hawksworth, Chief Executive
Soumen Das, Finance Director
Gary Yardley, Investment Director
Capco: Tel - 020 3214 9150

For financial media enquires please contact:
Michael Sandler/Wendy Baker,
Hudson Sandler: Tel - 020 7796 4133

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