DENVER, May 3, 2011 /PRNewswire/ --

    
                              PLD International LLC
                                4545 Airport Way
                           Denver, Colorado 80239, USA

ProLogis (NYSE: PLD), a REIT organized under Maryland law with headquarters in Denver, Colorado, USA ("PLD"), announced today the extension of its mandatory tender offer (the "TOD") for any or all Ordinary Units and Convertible Preferred Units not owned directly or indirectly by PLD, of ProLogis European Properties, a Luxembourg registered fonds commun de placement ("PEPR") having its registered office in the Grand Duchy of Luxembourg, 34-38, avenue de la Liberte, L-1930 Luxembourg.

On May 3, 2011, the reasoned opinion of PEPR was published relating to ProLogis' mandatory tender offer described in the TOD published on April 22, 2011. In order to permit all PEPR Unitholders to fully consider PEPR's reasoned opinion, ProLogis has decided, having consulted the Luxembourg CSSF and with its consent, to extend the Offer Period from May 6, 2011 at 6:00 pm CET to May 11, 2011 at 6:00pm CET.

PLD confirms that all other financial terms of the Offer as published on April 14, 2011 remain unchanged. The final results of the Offer are expected to be announced on May 11, 2011. The settlement of the Offer is expected to take place on May 18, 2011.

"We believe ProLogis' unconditional mandatory offer gives PEPR investors the choice either to realize certain and immediate value through the tender of their units or to remain investors to realize PEPR's long-term upside potential. ProLogis is offering liquidity to all unitholders through its tender offer, but fully intends to continue as a significant owner and manager of PEPR to create long-term value at PEPR for the benefit of all unitholders who choose to remain invested," said ProLogis CEO Walter C. Rakowich.

The Offer Document published by PLD International LLC, a wholly owned subsidiary of PLD, was approved on April 21, 2011 by the Commission de Surveillance du Secteur Financier in Luxembourg and notification provided to the AFM in the Netherlands. The Offer Document is available to the public at RBS Global Banking (Luxembourg) S.A., 46, avenue J-F Kennedy, L-1855 Luxembourg, Grand Duchy of Luxembourg and at The Royal Bank of Scotland N.V., Equity Capital Markets/Corporate Actions, HQ 3130, Gustav Mahlerlaan 10, 1082 PP Amsterdam, The Netherlands, mail: corporate.actions@rbs.com. It is available for consultation on the following website: http://www.prologis.com.

The financial intermediaries who have been appointed to assist in relation to the Offer, and who can be contacted for assistance and who will accept the Acceptance Forms in relation to the Offer are:

    
    -- In the Grand-Duchy of Luxembourg: RBS Global Banking (Luxembourg) S.A. 
       - Tel: +352-270-330-1
    -- In the Netherlands: The Royal Bank of Scotland N.V. - Tel: 
       +31-20-464- 3707(or alternatively toll free number for calls made from 
       inside the European Union: 00-800-3882-4743)

Further details on the handling of the Acceptance Forms and the settlement of the Offer are given in the Offer Document.

About 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 euro 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.

About ProLogis

ProLogis is the leading global provider of distribution facilities, with more than 435 million square feet of industrial space owned and managed (40 million square meters) in markets across North America, Europe and Asia. The company leases its industrial facilities to more than 3,800 customers, including manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises with large-scale distribution needs. For additional information about the company, go to http://www.prologis.com.

SOURCE ProLogis