ProLogis to Develop 351,000 Square Feet for Logistics Company in Western Germany

DUSSELDORF, Germany, Oct. 11 /PRNewswire-FirstCall/ -- ProLogis (NYSE: PLD), the world's largest owner, manager and developer of distribution facilities, announced today that it will develop 351,000 square feet (32,600 square meters) of distribution space in western Germany for van Eupen Logistik GmbH & Co., a German provider of third-party logistics services.

The new facility is under construction on recently acquired land located in the northeast area of Germany's Rhine/Ruhr region, approximately 100 kilometers northeast of Cologne. Logistics provider van Eupen will operate the space as a distribution center for industrial and consumer goods.

"We're pleased to announce this new agreement with van Eupen Logistik, one of Germany's leading providers of logistics services," said Christian Bischoff, ProLogis senior vice president and regional director for northern Europe.

Bischoff noted that ProLogis has signed build-to-suit agreements totaling more than 3.94 million square feet since the beginning of the year, including recently announced deals with outdoor apparel retailer Jack Wolfskin and LOEWE Logistik. "We have enhanced our marketing strategy in Germany to include dedicated account teams for key vertical industries, including logistics, retail, customer service organizations and automotive," Bischoff said. "This approach has already resulted in a number of important wins in recent months, and we expect it to pay significant dividends for ProLogis over the long term."

Located in the city of Unna, the van Eupen facility, to be called ProLogis Park Unna, provides easy access to the A44, a major east-west highway, and the highly populated Rhine region of Germany.

ProLogis is one of the largest providers of distribution space in Germany with more than 6.26 million square feet owned, managed or under development, as of June 30, 2007. In addition to van Eupen Logistik, other logistics customers in Germany include Deutsche Post Group, GEFCO, Geodis, Jack Wolfskin, Kuehne + Nagel, LOEWE, Meyer & Meyer, NYK Logistics and Schenker.

About ProLogis

ProLogis is the world's largest owner, manager and developer of distribution facilities, with operations in 105 markets across North America, Europe and Asia. The company has $29.9 billion of assets owned, managed and under development, comprising 446.9 million square feet (41.5 million square meters) in 2,523 properties as of June 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 October 11, 2007