ProLogis Updates Ownership and Tender Results for Ordinary Units in ProLogis European Properties

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DENVER, May 4, 2011 - ProLogis (NYSE: PLD), the leading global provider of distribution
facilities, announced today that since the start on April 22, 2011 of its
mandatory tender offer for ProLogis European Properties, a Luxembourg
closed-ended investment fund (Euronext/Amsterdam: PEPR, hereafter "PEPR") it
has received for tender or purchased in the open market 8,818 Ordinary Units
carrying voting rights of PEPR. When these tenders have been accepted and the
purchases completed, ProLogis will hold directly or indirectly a total of
74,122,391 Ordinary Units and 7,015,856 Perpetual Convertible Preferred Units
("Preferred Units") of PEPR. Based on information published by PEPR as to the
total number of PEPR Ordinary and Preferred Units in issue, this holding will
represent directly or indirectly 39 percent of PEPR's Ordinary Units
corresponding to 39 percent of the voting rights attached to all PEPR
Ordinary Units and 68 percent of the PEPR's Preferred Units.

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
www.prologis.com.

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.

Media, Krista Shepard of ProLogis, +1-303-567-5907, kshepard at prologis.com; or George Hudson of The Maitland Consultancy, +44(0)207-379-5151, Mobile, +44(0)759-527-0877, Ghudson at maitland.co.uk; or Wim Moerkerk of Smink, Van der Ploeg & Jongsma Financiele Communicatie, +31-20-647-81-81, Mobile, +31-613-80-76-57, wmoerkerk at spj.nl; or Suzanne Dawson of Linden Alschuler & Kaplan, Inc., +1-212-329-1420, Mobile, +1-908-242-7162, sdawson at lakpr.com, all for ProLogis; or Investors, Melissa Marsden of ProLogis, +1-303-567-5622, mmarsden at prologis.com