LII Liberty Intl.

Liberty International PLC (LII.LN), which owns and manages commercial properties in the U.K. and U.S., said Wednesday the U.K. retail market has stabilized and Capital Shopping Centers', or CSC, occupancy has been maintained at 98%.

MAIN FACTS:

-Has seen much lower level of retailer failures than the first quarter of 2009.

-Prospects for the performance of CSC's existing assets are encouraging.

-Capital & Counties, or Capco, central London has continued to perform strongly with Covent Garden recording continuing increases in footfall.

-Demerger announced March 9 is now largely complete and two companies expected to start to trade separately on May 10.

-Occupancy of Capital Shopping Centers' established centers maintained at 98% at Mar 31 (Dec. 31, 2009: 98%) with 43 new lettings in the first quarter.

-Net external debt GBP3.3 billion at March 31 (CSC GBP2.8 billion, Capco GBP0.5 billion) (Dec. 31: GBP3.2 billion) with pro forma debt to assets based on Dec. 31, 2009 property valuations for CSC of 56% and Capco of 38%.

-GBP525 million, seven year refinancing of debt secured on Lakeside, Thurrock concluded in January

-Group is in compliance with all financial debt covenants.

-Group continues to actively explore tax efficient options to exit over time its direct investment in the U.S.

-Shares closed Tuesday at 472 pence valuing the company at GBP2.94 billion.

-By Ian Walker, Dow Jones Newswires; 44-20-7842-9296; ian.walker@dowjones.com

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