Jeff Schwartz Named Industrial Property Executive of the Year by Commercial Property News

DENVER, Dec. 3 /PRNewswire-FirstCall/ -- ProLogis (NYSE: PLD), the world's largest owner, manager and developer of distribution facilities, today announced that Chairman and Chief Executive Officer Jeff Schwartz has been named "Industrial Property Executive of the Year" for 2007 by Commercial Property News, one of the nation's leading real estate publications.

The award was given as part of CPN's annual Real Estate Executives of the Year awards program, which recognizes both individual and organizational achievements in the industry. Last year Schwartz was named both "Industrial Property Executive of the Year" and "Developer of the Year" by the magazine.

"CPN's Executive of the Year awards provide a forum for professionals in the commercial real estate industry to recognize the accomplishments of their peers," said Suzann Silverman, editor-in-chief of Commercial Property News. "The fact that Jeff has won this award is indicative of the high regard other top commercial real estate executives have for him as a strategist and a leader of a successful company."

"I am honored to once again have received this prestigious award," Schwartz said. "Companywide, we are very proud of the success we've had this year, including the accelerated growth of our global platform, the formation of five new property funds, valued at more than $16.3 billion, and our continued expansion into new and emerging distribution markets. This has been achievable through our world-class associates, our strong customer relationships and the high quality of our strategically located distribution facilities. We look forward to similar success in the future as we continue to grow our global presence."

The names and profiles of all the 2007 Executives of the Year award winners will appear in a special section of the December 2007 issue of Commercial Property News.

About ProLogis

ProLogis is the world's largest owner, manager and developer of distribution facilities, with operations in 20 countries across North America, Europe and Asia. The company has $34.4 billion of assets owned, managed and under development, comprising 483.0 million square feet (44.9 million square meters) in 2,669 properties as of September 30, 2007. 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 more than 1,300 people worldwide. For additional information about the company, go to http://www.prologis.com.

SOURCE ProLogis

Released December 3, 2007