Charles E. Sullivan Named Head of Global Operations

DENVER, Feb. 3 /PRNewswire-FirstCall/ -- ProLogis (NYSE: PLD), a leading global provider of distribution facilities, announced today that Charles E. Sullivan has been appointed as the company's head of global operations. Concurrently, Diane S. Paddison, chief operating officer, will resign to pursue other opportunities effective February 6, 2009.

Mr. Sullivan, 51, most recently was managing director for ProLogis with overall responsibility for the company's operations in North America. He has been with the company since 1994 in various capacities and previously served as ProLogis' regional director of operations in the Southeast. Prior to that, he was based in Monterrey, Mexico, where he served as ProLogis' country officer.

"Diane contributed to ProLogis' global operations during a challenging time in the company's history," said Walter C. Rakowich, ProLogis chief executive officer. "She led efforts to reduce G&A by more than 20 percent and with her focus on organizational process helped to bring together global teams in the areas of operations, technology, sustainability, marketing and customer account management. We appreciate her efforts to implement operational tools to support our infrastructure and wish her continued success."

Ms. Paddison said, "I believe the company has taken the right steps to address the current difficult business climate and am confident that it will continue to make progress on its repositioning plan while maintaining its industry leadership and excellent customer relationships."

"At the same time, we are fortunate to have a talented team in place to take on ProLogis' global operations responsibility," Mr. Rakowich added. "Chuck has more than 30 years of real estate leadership experience and strong relationships within the company. He is exceptionally qualified to oversee ProLogis' global operations as we continue to pursue our action plan and implement cost savings while maintaining solid occupancies and customer retention."

"From the company's earliest days, ProLogis has come to represent quality - in everything from the way we build, lease and maintain our properties to the caliber of our people in the organization," Mr. Sullivan said. "I look forward to extending that tradition, driving performance and ensuring global consistency of our customer-focused management approach."

Mr. Sullivan will have overall responsibility for global operations, including the coordination of property management and leasing, information technology, marketing and global customer relationships. Mr. Sullivan has an MBA from the University of North Carolina at Chapel Hill and a BA from the University of South Florida. He currently serves on the boards of the Metro Denver Economic Development Corporation and the Denver Area Council of the Boy Scouts of America.

About ProLogis

ProLogis is the world's largest owner, manager and developer of distribution facilities, with operations in 136 markets across North America, Europe and Asia. The company has $40.8 billion of assets owned, managed and under development, comprising 548 million square feet (51 million square meters) in 2,898 facilities as of September 30, 2008. ProLogis' customers include manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises with large-scale distribution needs. For additional information about the company, go to http://www.prologis.com.

SOURCE ProLogis

Released February 3, 2009