Capital Shopping Centres Group plc : Major operational initiatives and change of company name

Major operational initiatives and change of company name 15 January 2013

CSC ANNOUNCES CREATION OF NATIONWIDE CONSUMER-FACING SHOPPING CENTRE BRAND AND TRANSFORMATION OF ITS DIGITAL PROPOSITION

KEY INITIATIVES, BENEFITS AND TIMELINE

With 320 million customer visits and over 30 million unique visitors a year, Capital Shopping Centres is the UK's leading specialist shopping centre owner, developer and manager. This scale and specialism gives us a unique insight into today's consumer and what they are looking for from their shopping experience.

CSC has the physical scale to establish a strong national brand to integrate the online and shopping centre retail experience. Today we are announcing a £25 million investment to create a nationwide consumer-facing shopping centre brand, intu, and a transformed digital proposition.

Key initiatives:

· Creation of a single brand, intu, to be incorporated into the names of the company and our directly-managed centres

o providing a compelling national proposition for retailers and other commercial partners

o supported by a "World Class Service" approach from our 1,800 staff

o involving refreshing changes to our centres' physical environments

· Integration of the physical and digital environments to provide a seamless multi-channel experience for our visitors through

o installation of a new fibre optic network for every centre

o provision of high quality free WiFi throughout the malls

o the launch of intu.co.uk, a transactional, fashion-focused, mobile-enabled website

· Overall investment of £25 million, comprising £7 million on brand creation and roll out, £8 million on digital infrastructure and £10 million on the acquisition and start-up phase of intu.co.uk

Benefits:

· For visitors: improved customer experience, including additional digital services

· For retailers: higher spend both in-store and online from enhanced footfall, dwell time and customer service. Effectiveness of centre-by-centre marketing spend much improved as the unified brand reduces duplication. National awareness and marketing opportunities increased

· For our people: a more dynamic, creative and engaging culture, focused on customer experience and supporting innovation and personal development

· For our investors: driving income through enhanced propositions to consumers and retailers, consumer spending on new value-added services and new revenue sources such as national commercial partnerships, digital commissions and advertising

2013 timeline:

· On 18 February 2013 CSC will change its name to intu properties plc

· In March Trafford Centre will launch free WiFi, followed by Lakeside in April, Eldon Square, Newcastle, in May and all centres by February 2014.

· From March to June all our 1,800 staff will attend training in World Class Service

· In April 2013 intu.co.uk, our new eCommerce site, will be launched

· From May 2013, the intu brand and visual identity will be rolled out across our centres in the form of physical signage, enhanced customer service desk facilities and national consumer activity commencing with a major launch event

David Fischel, Chief Executive, commented:

"With over half the UK population visiting our shopping centres each year, we have the scale to seize the opportunities provided by the changes in the retail marketplace. We are investing £25 million in digital infrastructure, an eCommerce website and a new brand. We very much look forward to implementing the initiatives announced today, which mark an exciting next phase in the evolution of our market-leading UK shopping centre business, to the benefit of customers, retailers, staff and investors. "

A conference call with analysts and investors will take place at 08.15 GMT on 15 January 2013.
The full announcement is available here.

Enquiries:

CSC: David Fischel, Chief Executive [phone]
Matthew Roberts, Finance Director [phone]
Kate Bowyer, Head of Investor Relations [phone]

Public relations:
UK:
Michael Sandler/Wendy Baker, Hudson Sandler [phone]
SA:
Nick Williams/Morné Reinders, College Hill [phone]

EXPECTED TIMETABLE OF STOCK EXCHANGE EVENTS

The dates given in this expected timetable are based on the Company's current expectations and may be subject to change.

Announcement of name change…………………………………….. 15 January 2013

Last day to trade on the LSE and JSE under the old name
Capital Shopping Centres Group PLC…………………………….. 15 February 2013

Change of name of Capital Shopping Centres Group PLC
to intu properties plc...........…...............……. close of business on 15 February 2013

Capital Shopping Centres Group PLC shares begin trading
under the new name of intu properties plc under LSE code INTU
and JSE code ITU…………….......................................................... 18 February 2013

Record date for change of name (JSE only)…………...........…….. 22 February 2013

Certificated shareholders: existing share certificates remain valid

South African shareholders should note that, in accordance with the requirements of Strate, no dematerialisation or rematerialisation of shares will be possible from Monday, 18 February to Friday, 22 February 2013 inclusive. No transfers between the UK and South African registers may take place from Monday, 18 February to Sunday, 24 February 2013 inclusive. The ISIN number for the shares will not change and remains GB 0006834344 for both the UK and South Africa.