ProLogis European Properties notes publication of formal tender offer document from ProLogis

Luxembourg - 22 April 2011 - ProLogis European Properties (Euronext: PEPR) notes the publication of ProLogis' (NYSE: PLD) formal tender offer document relating to its mandatory public take-over bid of €6.10 per ordinary unit and the bid of €6.10 per convertible preferred unit of PEPR. The offer period set by ProLogis starts on 22 April 2011 and the acceptance period, or deadline for tendering units into the offer, will end on 6 May 2011 unless extended by ProLogis as per the terms of the offer document or otherwise in accordance with applicable Luxembourg regulation. As required by applicable Luxembourg regulation, ProLogis Management S.à r.l., acting in its capacity as the management company of PEPR (the "Management Company") in accordance with PEPR's management regulations, will review the offer document and provide a reasoned opinion in relation to the offer as soon as practicable.  The Management Company reaffirms its commitment to act in the interests of PEPR as a whole and all PEPR unitholders. PEPR will announce its first quarter 2011 financial results on Thursday 28 April 2011. The Management Company, acting in its capacity as the management company of PEPR, has engaged Deutsche Bank as financial advisor and Arendt & Medernach and Freshfields Bruckhaus Deringer LLP as legal counsel. -Ends- For further information, please contact: Jennifer Crooke +44 207 518 8708 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, a leading global provider of industrial distribution facilities. In September 2006, ordinary units in PEPR were listed on the Luxembourg Stock Exchange and Euronext Amsterdam. As at 31 December 2010, PEPR had 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. Press release (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#1508747]