ProLogis European Properties responds to recent announcements

April 14, 2011 Luxembourg - 14 April 2011 - ProLogis European Properties (Euronext: PEPR), one of Europe's largest owners of modern distribution facilities, acknowledges that following the ProLogis (NYSE: PLD) press release dated 14 April 2011, ProLogis has announced an increase in its ownership of PEPR to approximately 38% and will therefore proceed with a mandatory tender offer to acquire all of the outstanding ordinary units and convertible preferred units it does not currently own in PEPR. In addition, further to PEPR's statement dated 12 April 2011, PEPR reconfirms it has not been contacted by APG Algemene Pensioen Groep N.V. and Goodman Group (referred to collectively as the "Investor Group") or any other pension or sovereign wealth fund in relation to any offer to acquire ordinary units in PEPR. PEPR confirms that it is open to exploring value-enhancing alternatives for its unitholders.  In connection thereto, the Management Company and independent members of the PEPR Board are taking appropriate measures ahead of receiving any formal offers, including the appointment of independent financial advisers. -Ends- For further information, please contact: Investor relations Jennifer Crooke +44 207 518 8708 jcrooke@prologis.com Media M:Communications Ed Orlebar / Charlotte McMullen +44 20 7920 2323 or 7920 2349 orlebar@mcomgroup.com / mcmullen@mcomgroup.com About ProLogis European Properties (PEPR) ProLogis European Properties, or PEPR, is one of the largest pan-European owners of high quality distribution and logistics facilities. PEPR was established in 1999 as a closed-end, real estate investment fund, externally managed by a subsidiary of ProLogis (NYSE: PLD), a leading global provider of industrial distribution facilities. In September 2006, PEPR was listed on Euronext Amsterdam. As at 31 December 2010, PEPR has a portfolio of 232 buildings, covering 4.9 million square metres in 11 European countries, with a market value of €2.8 billion. The portfolio has an occupancy level of 94.5% and an average of 3.4 years to the next lease break or 5.3 years to lease expiry. ProLogis European Properties responds to recent announcements: http://hugin.info/139145/R/1506750/441547.pdf This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: ProLogis European Properties via Thomson Reuters ONE [HUG#1506750]