CWF II plc - Redemption/Issue

RNS Number:6347T
Songbird Estates PLC
23 March 2007

                                                                   23 March 2007

                              SONGBIRD ESTATES PLC

                     RELEASE BY CANARY WHARF GROUP COMPANY

               NOTICE OF EARLY REDEMPTION AND ISSUE OF NEW BONDS


The following announcement was released earlier today concerning the redemption
of Canary Wharf Finance II plc bonds. Canary Wharf Finance II plc is a wholly
owned subsidiary of Canary Wharf Group plc, which is in turn the main operating
subsidiary of Songbird Estates plc.


Redemption
                          "Notice of Early Redemption

                          CANARY WHARF FINANCE II PLC

                                 (the "Issuer")

           (Incorporated in England and Wales with limited liability
                        with registered number 3929593)

   U.S.$579,000,000 Class A5 Floating Rate First Mortgage Debentures due 2033

                  (Common Code: 014281916; ISIN: XS0142819167)


#110,000,000 Class B2 Stepped Coupon Floating Rate First Mortgage Debentures due
                                      2030

                  (Common Code: 021864773; ISIN: XS0218647732)



#225,000,000 Class C1 Stepped Coupon Floating Rate First Mortgage Debentures due
                                      2030

                  (Common Code: 021864820; ISIN: XS0218648201)



#25,000,000 Class D1 Stepped Coupon Floating Rate First Mortgage Debentures due
                                      2033

                  (Common Code: 021864919; ISIN: XS0218649191)



                                 (the "Notes")

                     issued by Canary Wharf Finance II PLC

                                 (the "Issuer")



The Issuer hereby gives notice that, pursuant to Condition 5(c) of the Notes, it
will redeem the Notes in full on the Interest Payment Date falling in April 2007
at their principal amount outstanding together with interest accrued to the date
of redemption.

Payments in respect of the Notes will be made through Euroclear and Clearstream,
Luxembourg in accordance with their respective rules and procedures.

This notice is given by Canary Wharf Finance II PLC


PRINCIPAL PAYING AGENT

Deutsche Bank AG, London Branch
Winchester House
1 Great Winchester Street
London EC2N 2DB


TRUSTEE

Deutsche Trustee Company Limited
Winchester House
1 Great Winchester Street
London EC2N 2DB
23 March 2007"


Issue of New Bonds


It was also announced earlier today that Canary Wharf Finance II plc will be
issuing the following bonds:

Class         #m             Type            Rating S/M/F           Step-Up         Legal

A7            222            FRN             AAA/Aaa/AAA            Jan - 17        Jan - 37
B3            104            FRN             AA/Aa2/AA              Jan - 17        Jan - 37
C2            275            FRN             A/A2/A                 Apr - 14        Jan - 37
D2            125            FRN             BBB/Baa2/BBB           Apr - 14        Jan - 37


It is intended that these bonds will be priced during the week commencing 02
April 2007.

                         
Dated:                   23 March 2007

Contact for queries:     John Garwood
                         020 7418 2312

Company official making announcement:

John Garwood, Group Company Secretary, Songbird Estates plc


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