ProLogis Announces Opening of Fourth Hope School in China

- School Opening is Part of Company's Pledge to Construct One School For Every Five Million Square Feet of Development in the Country -

DALIAN, China, July 15 /PRNewswire-FirstCall/ -- ProLogis (NYSE: PLD), the world's largest owner, manager and developer of distribution facilities, announced today the opening of a new Hope School in Dalian, China.

In 2006, ProLogis pledged that for every five million square feet (approximately 500,000 square meters) the company invests in China, it will build one school. The initiative is designed to help schoolchildren and their families in rural China, where educational facilities are often scarce and lacking adequate amenities.

The new school, named ProLogis-Jifa Longkou Hope School, is a two-story building with six classrooms, two multifunction rooms and two offices and will accommodate more than 100 students and 10 teachers. The school is located in the town of Longkou, near Wafangdian city, in suburban Dalian. This is ProLogis' fourth Hope School in China.

"We are thrilled to be opening our fourth Hope School," said Ming Mei, president for ProLogis in China. "Not only are we committed to serving the needs of our customers in China, but we also understand the importance of supporting the local communities in which we do business. Our wish is that our program will help to contribute much-needed infrastructure that will support China's education system for decades to come."

An opening ceremony is planned today, which will be attended by ProLogis executives, local government officials, students and teachers.

In August of 2007, ProLogis completed its first Hope School, an expanded elementary school in Wang Fu, Wuzhou City in the Guangxi Zhuang Autonomous Region of Southern China. In the Ningxia Hui Autonomous Region, ProLogis has also built its second and third Hope Schools in Zhongning and Tongxin Counties, respectively. Both schools will be operational when the new semester starts in September.

ProLogis is one of the leading providers of industrial distribution space in China with more than 24.8 million square feet (2.3 million square meters) in operation and under development as of March 31, 2008. Major customers in China include adidas, Best Buy, DHL, L'Oreal, Menlo Worldwide, Nokia, NYK, Samsung, UPS and Yum! Brands.

About ProLogis

ProLogis is the world's largest owner, manager and developer of distribution facilities, with operations in 121 markets across North America, Europe and Asia. The company has $38.8 billion of assets owned, managed and under development, comprising 526.3 million square feet (48.9 million square meters) in 2,817 properties as of March 31, 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 July 15, 2008