Re Agreement

RNS Number:0562Q
Canary Wharf Group PLC
23 September 2003


23 September 2003

                        REUTERS TO MOVE TO CANARY WHARF


Canary Wharf Group plc (CWG) and Reuters today announced that the Company has
agreed terms subject to contract with Reuters for the lease of approximately
281,000 sq. ft of space in the building at 30 The South Colonnade, Canary Wharf.
Reuters, the global information company, will take over the entire building in
the Spring of 2005.

Reuters will lease 237,000 sq. ft on a 15-year lease. The additional 44,000 sq.
ft will be leased on a separate lease with a 5th year break exercisable upon
payment of a substantial rental penalty as well as a further break at the 10th
year.

In lieu of granting a rent-free period CWG will agree to take over three of
Reuters' leasehold properties with a total exposure equivalent to 2.5 years rent
free at 30 The South Colonnade and acquire the freeholds of Reuters' current
Head Quarters at 85 Fleet St and the adjoining building at a price of #32.3m
with a short leaseback until moving to Canary Wharf in May 2005.

Tom Glocer, Reuters CEO, comments:

"The proposed new site at Canary Wharf represents an exciting move for Reuters,
with our London staff all being housed under one roof for the first time. The
new building offers fantastic branding opportunities that will reflect our
company culture. A similar move in the US to one key site in Times Square for
our New York employees has had a tremendously positive impact on both staff and
clients which we want to replicate in London. In Fast Forward we set out our
commitment to deliver great service and create a more efficient company, and by
moving to Canary Wharf we can deliver on both those objectives."

George Iacobescu, Chief Executive, Canary Wharf Group added:

"Reuters is one of the world's and UK's best-known brand names and we are very
pleased to be welcoming such a prestigious and innovative company to Canary
Wharf. In the era of 24-hours news coverage and real-time information, which is
so crucial for many of our tenants, we look forward to welcoming them to our
growing list of major media services providers."

Paul Reichmann, Executive Chairman, Canary Wharf Group commented:

"Reuters' decision to consolidate into one building is further evidence of a
continuing consolidation trend by major corporates; their choice of Canary Wharf
again illustrates the Estate's popularity and ability to accommodate leaders in
business in close proximity to each other."


                                    - ends -


For further information, please contact:

Wendy Timmons                              Tel: [phone]
Canary Wharf Group plc
[e-mail]

Yasmeen Khan                               Tel: [phone]
Reuters Media Relations - UK
[e-mail]



NOTES TO EDITORS:

REUTERS

Reuters (www.about.reuters.com), the global information company, provides
indispensable information tailored for professionals in the financial services,
media and corporate markets. Our information is trusted and drives decision
making across the globe based on our reputation for speed, accuracy and
independence. We have 16,000 staff in 94 countries, including some 2,400
editorial staff in 197 bureaux serving approximately 130 countries, making
Reuters the world's largest international multimedia news agency. In 2002, the
Reuters Group had revenues of #3.6 billion.

Reuters and the sphere logo are the trade-marks of the Reuters group of
companies.

CANARY WHARF GROUP PLC

Canary Wharf Group's prime business function is the leasing of Grade A office
and retail space at its 86 acre estate some three miles to the East of the Bank
of England in the City of London. The estate is synonymous with fine
architecture and design - the offices have been built to the highest standards
and are set in a approximately 20 acres of landscaped open spaces. Canary Wharf
also offers over 600,000 sq ft of shops, bars and restaurants, two Docklands
Light Railway stations, a Jubilee Line station and car parks. The estate
currently has a daily population of over 55,000, expected to increase to 65,000
by early 2005 as Lehman Brothers, The McGraw-Hill Companies and Bank of America
move in. In addition, Clifford Chance have recently started taking occupation of
their new headquarters building, whilst Allen and Overy and Skadden Arps Slate
Meagher & Flom LLP are moving into new offices within the estate.


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