24 April 2012 MEDIA RELEASE

LONDON’S LATEST LANDMARK REACHES MAJOR MILESTONE AS FIRST STEEL COLUMN IS INSTALLED

• Installation of first steel column is a major construction milestone
• 11-tonne column signed by development partners to mark the occasion
• Rafael Viñoly-designed skyscraper set to bring grade A office space to supply-constrained London market in 2014

The construction of London’s latest skyscraper 20 Fenchurch Street took a big step forward on Monday with the installation of the first of the 4,500 steel sections that will make up the building’s envelope.

The installation is the first step in building the tower’s superstructure and a landmark moment in the construction of the Land Securities and Canary Wharf Group development, which is set to bring much needed new office space to a supply-constrained London market on completion in early 2014.

The occasion was commemorated by executives from Land Securities and Canary Wharf Group who signed their names on the first nine metre column at a ceremony on site today. Engineers will now begin installing the remaining 4,499 steel sections that will make up the superstructure of the skyscraper, using the latest sophisticated computer modelling.

20 Fenchurch Street is one of London’s most eagerly anticipated development projects thanks to architect Rafael Viñoly’s innovative design. The 160m high building flares outwards from its base so that the larger floorplates are to be found at the higher storeys, delivering both impressive architecture and the large, flexible office space required by today’s commercial occupiers.

The unique architecture requires a sophisticated approach to the building’s construction. Engineers having already placed approximately 21,000m3 of concrete and 5,000 tonnes of steel to build the skyscraper’s foundations and core. When complete, 20 Fenchurch Street will contain over 28,000m3 of concrete, 13,000 tonnes of structural and reinforced steel and approximately 33,000m2 of glass – an area equivalent to more than 4.5 football pitches.

20 Fenchurch Street’s steel is being installed by Bury-based contractor William Hare Structural Engineers. All the steel fabrication is being undertaken in the UK at factories in Bury, Scarborough and Wetherby.

As well as earning plaudits for its architecture and innovative construction, the 38-storey building has also won praise for making a contribution to social mobility in the capital through the new Employment Hub sited at the development. With unemployment in London currently at 10% , joint venture partners Land Securities and Canary Wharf Group have worked with suppliers and public bodies to create a one-stop-shop offering local people immediate advice on jobs and training opportunities in construction. Since the inception of the Employment Hub, partners across the public and private sectors have helped 20 local people into employment at 20 Fenchurch Street. The project is supporting approximately 3,000 jobs throughout the construction process.

On completion in early 2014, 20 Fenchurch Street will bring 675,000sq ft of office space to the London market at a time when up to 3m sq ft occupiers’ leases per annum are expected to expire or see breaks potentially exercised and few new developments are due to be delivered to meet demand. Each floor will offer world class flexible office space with 360° views of London, designed to appeal to a range of potential tenants.

Colette O’Shea, Head of Development, Land Securities’ London portfolio, said:
“Developments like 20 Fenchurch Street are central to the City of London’s appeal as one of the world’s greatest business hubs. Rafael Viñoly’s cutting-edge design, which is innovative yet sympathetic to its historic surroundings, and the development’s flexible office space are set to make 20 Fenchurch Street the right building for the City delivered at the right time, given the lack of supply set to hit the London market in the next few years.”

Cormac MacCrann, Executive Director of Canary Wharf Contractors Limited, said:
“Just a year into construction, 20 Fenchurch Street is already an exciting addition to London’s skyline. Today’s announcement marks a significant milestone in the construction of this landmark skyscraper, as the team continue the great progress made so far in delivering the project as planned in early 2014.”

ENDS
For further information, please contact:

Rob Bartlett / Kev O’Sullivan
Blue Rubicon on behalf of Land Securities
Tel: 020 7260 2700
landsecurities@bluerubicon.com

John Garwood / Hamish McDougall
Canary Wharf Group plc
Tel: 020 7418 2326
hamish.mcdougall@canarywharf.com

Donal McCabe/ Naomi Curtis
Land Securities Group plc
Tel: 020 7024 5460/ 5411
Naomi.curtis@landsecurities.com

Notes to Editors
About 20 Fenchurch Street, EC3, London:

• 20 Fenchurch Street is being jointly developed by Land Securities and Canary Wharf Group. Canary Wharf Contractors Limited, a wholly owned subsidiary of Canary Wharf Group, has been appointed as Construction Manager.
• Construction of 20 Fenchurch Street, EC3 officially started on Tuesday 18 January 2011.
• The building’s architect is Rafael Viñoly. The building spectacularly flares outwards from a narrow base. It is topped by a skygarden.
• When complete, the 525ft, 38 storey, 675,000 sq ft building will provide world class office space, with each floor offering 360° of unrivalled views.
• The building will bring Grade A office space to a supply constrained central London market of 2014, as more than 3m sq ft of leases per annum are expected to expire or see breaks potentially exercised during the next four years.
• The floor plates will range from 14,000 – 28,000sq ft, providing both flexible high specification accommodation with the larger floor plates on the higher floors, appealing to a wide range of prospective tenants.

About Canary Wharf Group plc

Canary Wharf Group plc is an integrated property development, investment and management group of companies. It is focussed on the design, construction, leasing and management of grade A office space and high-quality retail and leisure facilities in central London. Over the past 20 years the Group has regenerated derelict wharves into the Canary Wharf Estate, one of the world’s premier business and shopping districts, constructing over 15 m sq ft of office space; more than any other company in London. These buildings are occupied by 95,000 people.

The Group’s current projects away from Canary Wharf include the Shell Centre on the South Bank, which is a joint venture with Qatari Diar and 20 Fenchurch Street (Walkie Talkie) in the City of London, which is in a joint venture with Land Securities. These follow the successful completion of Pan Peninsula and Drapers Gardens.

Canary Wharf Group’s tenants, clients and occupiers include some of the world’s leading business organisations from the media, legal, accounting, financial services, IT, energy and transport sectors. Canary Wharf Group has also developed and successfully let over 200 shops, bars, cafes and restaurants including many of Britain’s leading brands.

Canary Wharf Group has been named one of the Sunday Times 60 Best Green Companies in the UK since 2008, was the Property Week Offices Developer of the Year 2010 and also won the Christie’s 2010 Award for Best Corporate Art Collection and Programme at the International Art and Work Awards.

www.canarywharf.com

About Land Securities London
Land Securities is the UK’s largest commercial property company and a member of the FTSE 100. The company owns and manages more than 29m sq ft of office, retail and residential space. Land Securities’ London portfolio includes landmark properties such as the world-renowned Piccadilly Lights and the Jean Nouvel-designed One New Change, which has re-established vibrant shopping in the heart of the Square Mile. Following the successful development of Cardinal Place in 2006, Land Securities has revealed ambitious plans to regenerate London Victoria during this next decade. Current and future Land Securities’ developments in the vicinity total over 1.5m sq ft, and include Wellington House, 62 Buckingham Gate, Kingsgate House and Victoria Circle. Land Securities is also building some of London’s most innovative mixed-use schemes including 20 Fenchurch Street, the City’s newest and most exciting skyscraper. www.landsecurities.com