Canary Wharf Group plc (“Canary Wharf“) and London Underground Limited (“LUL”) announce that they have reached an agreement regarding future improvements to, and upgrading of, the Jubilee Line.

Under the terms of this agreement, LUL and Canary Wharf have agreed that, in satisfaction of rebates totalling £94.6m due to Canary Wharf in respect of its funding contribution to the Jubilee Line extension LUL will provide the following enhancements which will produce a service capacity well in excess of that required under the previous agreement.

- A 2-hour single direction peak period timetable (west to east in the morning and east to west in the evening) of 24 trains per hour will be introduced by May 2004

- Seven car trains, instead of the current six car service, will operate across the Jubilee Line, providing an increase in train capacity of 17% by July 2006

- New signalling and train control systems will be introduced which will enable a service of up to 30 trains per hour in the morning and evening peak hours by December 2009

These improvements will provide an overall increase in capacity of up to 45% over the existing service capacity at Canary Wharf station.

In addition LUL will open the eastern entrances to Canary Wharf station in June 2004.