RNS Number:3907T
Canary Wharf Group PLC
17 December 2003


                             CANARY WHARF GROUP PLC

                                  OFFER UPDATE

The Independent Committee of Canary Wharf Group plc ("Canary Wharf") notes the
announcements made today by Brascan Corporation ("Brascan") and IPC Advisors
Corporation.  As stated in those announcements, there can be no certainty that
an offer will be forthcoming from either Brascan or the Reichmann family
interests.  Accordingly, the Independent Committee recommends shareholders to
vote in favour of the resolution at the Extraordinary General Meeting on 22
December 2003 to approve the disposal of 5 Canada Square and 25 Canada Square to
The Royal Bank of Scotland plc (the "Disposals").  The Independent Committee
regards the Disposals as being in the best interests of shareholders, whether or
not Silvestor's offer proceeds.  Silvestor's offer is conditional on completion
of the Disposals.

In view of the timing associated with any offer from Brascan or the Reichmann
family interests, Canary Wharf now intends that any shareholder meetings to
approve Silvestor's offer will be held after 13 February 2004.

Enquiries

Lazard                          020 7187 2000
William Rucker

Cazenove                        020 7588 2828
Duncan Hunter
Richard Cotton

Brunswick                       020 7404 5959
James Bradley
Fiona Laffan

Lazard & Co., Limited ("Lazard") is acting for the Independent Committee of
Canary Wharf and no one else in connection with potential offers for Canary
Wharf and will not be responsible to anyone other than the Independent Committee
of Canary Wharf for providing the protections afforded to customers of Lazard
nor for providing advice in connection with potential offers for Canary Wharf.

Cazenove & Co. Ltd ("Cazenove") is acting for the Independent Committee of
Canary Wharf and no one else in connection with potential offers for Canary
Wharf and will not be responsible to anyone other than the Independent Committee
of Canary Wharf for providing the protections afforded to customers of Cazenove
nor for providing advice in connection with potential offers for Canary Wharf.


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