23 March 2007 - Mayer, Brown, Rowe & Maw LLP's London real estate group has advised Liberty International subsidiary, Capital & Counties on its £127.5m acquisition of the retail element of the Royal Opera House in London's Covent Garden.

Capital & Counties has acquired four long leasehold interests which encompass retail units with frontages onto James Street, the Covent Garden Piazza and Russell Street and which include such well known names as Nine West, Fred Perry, the Disney Store and Bik Bok.

London real estate partner James Dodsworth led the Mayer, Brown, Rowe & Maw team advising Capital & Counties, with support from real estate partner Peter Sugden, and assistants Richard Tilbrook and Anna Butler. The seller was advised by Jonathan Rickard of Addleshaw Goddard.

James Dodsworth commented: "This was a headline transaction for a significant client which demonstrates the strength of our group's capabilities."

Gary Marcuccilli, Director of Capital & Counties commented: "The retail units in the Royal Opera House block are amongst the most prime in Covent Garden and this acquisition expands our ownership to encompass the northern side of the Market and James Street which serves as the "front door" to the Covent Garden Market itself. The value of our holdings in Covent Garden now total over £620m."

Mayer, Brown, Rowe & Maw also advised Capital & Counties last summer in relation to its £421m acquisition of a portfolio of 31 properties in the Covent Garden area from the Covent Garden Market Limited Partnership. The portfolio included the iconic Covent Garden Market itself and the Jubilee Hall.

For further information:
James Dodsworth
+44 (0)20 7782 8827

Charlotte Ward
PR Manager, London
+44 20 7782 8547