Liberty International: Court Confirmation Of Cap Reduction

Liberty International (LII.LN) Tuesday announces that the High Court of Justice in England and Wales has made an order confirming the cancellation of Liberty International's share premium account in connection with the demerger of Capital & Counties.

MAIN FACTS:

-The Liberty International Reduction of Capital will become effective upon the Court's order being delivered to the Registrar of Companies in England and Wales, which is expected to take place on May 7, at which time the Demerger will become unconditional.

-Also expected to change its name to Capital Shopping Centres Group after the Demerger becomes unconditional.

-Trading of the Liberty International Ordinary Shares under the name Capital Shopping Centres is expected to commence on May 10 under LSE code CSCG and under JSE code CSO.

-The Capital & Counties Ordinary Shares will begin trading on the LSE on a "when issued" basis on May 10 under LSE code CAPC.

-Dealings in the Capital & Counties Ordinary Shares on the LSE on May 10 and May 11 will settle on May 17.

-The Capital & Counties Ordinary Shares will begin trading on the JSE on May 10 under JSE code CCO.

-Shares at 1214 GMT down 10.2 pence, or 2.2%, at 480.2 pence.

-By Iain Packham, Dow Jones Newswires; 44-20-7842-9269; [e-mail]