UPDATE ON

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UPDATE ON PROGRESS DEVELOPMENT
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SUMMARY CONSOLIDATED PROFIT LOSS
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SUMMARY CONSOLIDATED BALANCE SHEET
1999 1998 m m
Assets Properties 2,014.4 1,512.5 Other
assets 39.3 40.5 2,053.7 1,553.0 Financing Equit
y share capital 6.8 2.5 Reserves 1,200.9 591.5 Eq
uity shareholders funds 1,207.7 594.0 Net
debt 155.3 772.0 Deferred income relating to
building sales 532.4 99.1 Other
liabilities 158.3 87.9 2,053.7 1,553.0
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DURING THE YEAR 1 July 1998 30 June 1999
Agreement signed with CSFB for lease of 200,000
sq. ft. new building
Acquired 50 interest in Heron Quays
Developments Partnership (HQ1) held by Regalian
Homes
Letting of 100,000 sq. ft. in One Canada Square
to Bank of New York
Agreement signed and construction commenced on
1,100,000 sq. ft. headquarters for the HSBC group
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DURING THE YEAR 1 July 1998 30 June 1999
Agreement signed with Citigroup for lease of
600,000 sq. ft. in new tower and construction
commenced
Infrastructure works commenced on the former
Heron Quays
Shares listed on the London Stock Exchange
generating 572.5 million net proceeds
Senior secured and capital notes repaid totalling
366.6 million
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TEXACO - 1, WESTFERRY CIRCUS
217,970 sq. ft. office space and 127 parking
spaces acquired by Canary Wharf for 82.5m in
September 1999
Texaco lease-back of 66 of accommodation and
parking spaces
Sub-let to CSFB of balance of accommodation and
parking spaces
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15 WESTFERRY CIRCUS
Construction commenced on a 175,000 sq. ft.
building at 15 West Ferry Circus
Piling completed
Shell construction to be completed by end 2000
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RETAIL Canada Place
65,000 sq. ft. mall to open 28 March 2000
Lettings include
HSBC, Boots, Next, HMV, Moss Bros,
Goldsmiths, French Connection, Monsoon,
Accessorize, Oasis, Toni Guy,
Knickerbox, First Sport, Purves Purves
Active Venture, Cafe Fresco, EAT,
and Birley Sandwiches
All units let or in the hands of solicitors
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EXISTING RETAIL 175,000 sq. ft.
97 of retail units let
8,700 sq. ft. food hall opened August 1999
With the completion of Canada Place total Canary
Wharf retail space will increase to 250,000 sq.
ft. with an infrastructure of 3,000 car parking
spaces.
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CONSTRUCTION
275,000 sq. ft. extension to existing CSFB
headquarters building completed and occupied
June 1999
Practical completion achieved in September 1999
on a new 200,000 sq. ft. building let to CSFB,
14 months after signing of agreements
New public space created in Columbus Courtyard
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CONSTRUCTION
Handover of 560,000 sq. ft. Citibank building on
1st December 1999
Piling and raft completed on 1,100,000 sq. ft.
HSBC headquarters. Building core at two floors
above street level
Piling and raft completed and core construction
commenced on 1,200,000 sq. ft. Citigroup tower .
Building core at two floors above street level
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CONSTRUCTION
On site DS-1 (450,000 sq. ft.), adjacent to HSBC,
piling complete and raft works started
Enabling works and piling complete on 15
Westferry Circus (175,000 sq. ft.). Raft works
commenced
Canada Square park (65,000 sq. ft.), retail and 3
levels of parking (950 spaces) nearing
completion
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JUBILEE PARK DEVELOPMENT
Design of the 6 acre Jubilee Park and 150,000
sq. ft. of future retail space
Construction of coffer dams and perimeter
foundation wall substantially complete for
2,500,000 sq. ft. of future building
Piling Commenced
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JUBILEE LINE EXTENSION / DLR LEWISHAM EXTENSION
Jubilee line opened from Stratford to Waterloo
Waterloo to Green Park to be open mid November,
completing full line between Stanmore and
Stratford
DLR Lewisham extension to open end of November
1999