ProLogis Increases Offer Price for ProLogis European Properties Units to Euro 6.20 Per Unit

ProLogis PLD today announced that it has agreed to purchase all Ordinary Units and Convertible Preferred Units of ProLogis European Properties that are currently held by APG Algemene Pensioen Groep N.V. and an affiliate of the Government of Singapore Investment Corporation Pte Ltd at a price of euro 6.20 per Unit in cash. The purchase will increase ProLogis' ownership of PEPR to approximately 60 percent. Concurrently, PLD International LLC has decided to increase its Offer Price for any and all Ordinary Units and Convertible Preferred Units of PEPR that it or ProLogis do not currently own to euro 6.20 per Unit in cash from its previous Offer Price of euro 6.10 per Unit. The new Offer Price represents a 24 percent premium over the unaffected closing price on Euronext/Amsterdam of PEPR Ordinary Units on April 12, 2011.