RNS Number:5101U
Countryside Properties PLC
22 January 2004


                                                               22 January 2004

                           Countryside Properties PLC
                                        
     Countryside Properties selected for major town centre mixed-use scheme
                                        
Countryside Properties PLC ("Countryside Properties"), the specialist developer
of sustainable communities, and Capital & Counties (a wholly owned subsidiary of
Liberty International PLC) have been selected by Redbridge Borough Council as
its development partner for the redevelopment of 2.6 hectares (6.4 acres) of
Ilford Town Centre.

A major mixed-use regeneration scheme is proposed centred on a new town square
immediately south of the High Road and the Town Hall. The two companies will
develop the scheme in a joint venture which is projected to have a completed
development value of #120 million.

Subject to planning permission, the development will comprise approximately 500
apartments including affordable housing and lifetime homes, 11,000m2 of retail
and leisure amenities, 1500m2 of community and civic facilities, 300 car parking
spaces and a new entrance wing to the Town Hall. Construction should start in
Summer 2006 and complete by Autumn 2010.

Richard Cherry, Group New Business Director, Countryside Properties, commented:

"We are delighted to be working with Capital & Counties on this important
mixed-use scheme. Together we will be creating a dynamic urban environment which
will revitalise the town centre. Ilford is part of our substantial portfolio of
mixed-use projects and can be seen as another example of Countryside Properties'
unique and valuable development skills which continue to create new business
opportunities."

Countryside Properties is today hosting presentations for analysts and
investors. The main presentation will be given by David Lunts, Director of Urban
Policy at the Office of the Deputy Prime Minister, who will speak on the
importance of the Government's Communities Plan and the South East growth areas.
Countryside Properties will confirm its strong strategic and geographic
positioning in the light of changing government policy. No new material
information on Countryside Properties will be disclosed.

                                    - Ends -
Notes to Editors:

Countryside Properties PLC is a specialist development company recognised in
particular for the development of sustainable communities and urban and rural
regeneration. Countryside Properties' operations are mainly in London and the
South East, the South West and North West of England. Other major City Centre
regeneration projects include Anglia Polytechnic University in Chelmsford,
Essex, Guildford Railway Station in Surrey and the remodelling of Fairfield
Halls in Croydon. Based in Brentwood, Essex, the Company is listed on the London
Stock Exchange and is a constituent member of the FTSE4Good index.

Capital & Counties is a wholly owned subsidiary of Liberty International, a FTSE
100 company, and controls property investments worth around #850 million. This
includes significant holdings in Central London, particularly the West End, Mid
Town and the South Bank. The company also owns offices around the M25 as well as
major retail interests both in Central London and a number of UK cities. As well
as its UK interests, Capital & Counties has a US property company based in San
Francisco with assets in Northern and Southern California.

Liberty International PLC is a major UK listed property group owning 100 per
cent of Capital & Counties and Capital Shopping Centres PLC, the leading
regional shopping centre business. Property assets under management, including
partners' interests, amount to over #5.0 billion of which #4.5 billion is
directly owned.

Liberty International has been listed on the London Stock Exchange since July
1992 and is also listed on the Johannesburg Stock Exchange.


For further information, please contact:

Countryside Properties PLC                                       01277 260 000
Graham Cherry, Chief Executive
Richard Cherry, Group New Business Director
Guy Lambert, Corporate Communications Manager

Weber Shandwick Square Mile                                      020 7067 0700
Nick Oborne, Louise Robson or Sally Lewis

Capital & Counties                                               020 7887 7029
Margaret Harwood, PR Manager




                      This information is provided by RNS
            The company news service from the London Stock Exchange

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