ProLogis to Develop 137,000 Square Feet for Rip Curl in Southwest France

- Company to Occupy State-of-the-Art Facility Featuring 250 Kilowatt Solar Array -

PARIS, Oct. 8 /PRNewswire-FirstCall/ -- ProLogis (NYSE: PLD), the world's largest owner, manager and developer of distribution facilities, announced today that it will build a new, 137,000-square-foot (12,700-square-meter) industrial warehouse in southwest France for Rip Curl, a leading global provider of equipment and apparel for the surfing and mountain communities.

The state-of-the-art facility will be developed on land recently acquired by ProLogis in the city of St. Geours de Maremne in the southwestern region of France. Australia-based Rip Curl plans to use the facility to distribute its complete range of products to its network of retailers throughout Europe.

In addition, the facility is set to have a 250 kilowatt solar array installed on the roof. ProLogis plans to sell the power generated by the solar panels, which will generate an estimated 275,000 kilowatt hours (kWh) of renewable energy per year, back to the local French utility. Construction on the building is scheduled for the first half of 2009.

"We're extremely pleased to announce this new agreement with Rip Curl at our first facility in the southwest of France," said Ranald Hahn, managing director for ProLogis in northern Europe. "This region, which has long been known for its tourism and surfing culture, is developing into a strategic location for logistics due to the growing number of retail companies establishing operations in the area. The site also is ideal because it provides optimum solar irradiance for our latest solar installation, which will be our fourth in Europe. We look forward to delivering the facility to Rip Curl, and to serving as the developer of choice in this region for the long term."

Rip Curl's new facility is located along France's A63 motorway, 150 kilometers south of Bordeaux and 80 kilometers west of the Spanish border. The building is expandable by 64,500 square feet (6,000 square meters); ProLogis also has the option to purchase land immediately adjacent to the site, which could extend the facility another 129,000 square feet (12,000 square meters).

Rip Curl is a privately owned company with operations in more than 60 countries across the globe. The company's brand is world-famous for its ability to deliver products that enable its customers to live their passion for surfing and mountain sports. This includes technical equipment comprising surfboards, wetsuits, mountain wear, watches and eyewear, as well as a complete range of fashion/ beach-style apparel.

ProLogis is the largest provider of industrial space in France with more than 26.3 million square feet (2.4 million square meters) operating or under development, as of June 30, 2008. Currently, ProLogis has more than one megawatt of solar panel projects installed or under development in Europe. This includes ProLogis Park Chanteloup in Paris, France, which has an installation estimated to produce 450,000 kWh per year, and ProLogis Park Penedes in Barcelona, Spain, which has an estimated capacity of over 115,000 kWh per year. The company also has an installation at ProLogis Park Malsch in Malsch, Germany, which is estimated to produce 540,000 kWh of renewable energy per year.

About ProLogis

ProLogis is the world's largest owner, manager and developer of distribution facilities, with operations in 132 markets across North America, Europe and Asia. The company has $40.4 billion of assets owned, managed and under development, comprising 542.3 million square feet (50.4 million square meters) in 2,884 properties as of June 30, 2008. ProLogis' customers include manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises with large-scale distribution needs. Headquartered in Denver, Colorado, ProLogis employs over 1,500 people worldwide. For additional information about the company, go to http://www.prologis.com.

SOURCE ProLogis

Released October 8, 2008