PROLOGIS EURO PROP : PEPR calls Annual General Meeting - 27 June 2012

31/05/2012

PEPR calls Annual General Meeting | Prologis, Inc. has increased its ownership in PEPR to over 96%

Luxembourg - 31 May 2012 - ProLogis European Properties (Euronext: PEPR), one of Europe's largest owners of modern distribution facilities, announced today that it is holding its Annual General Meeting ("AGM") to vote on four agenda Items. The first three agenda items relate to normal business for an annual general meeting, namely the approval of the 2011 financial accounts, the reappointment of PEPR's independent auditor and the re-election of Mr. Didier Cherpitel as an Independent Board Member. The fourth agenda item concerns a proposal to wind-up PEPR tabled by Prologis, Inc., in accordance with Article 18.1 of the Management Regulations.

PEPR has been informed by Prologis, Inc. that it has increased its holding in PEPR to 96.4% of the ordinary units and 98.6% of the preferred units.

In relation to the fourth agenda item, concerning the resolution to wind-up PEPR, the Luxembourg Commission de Surveillance de Secteur Financier has approved the Management Company's role as liquidator of PEPR, should the majority of ordinary Unitholders vote in favour of the proposal. Furthermore, it has no objections regarding the tabling of the proposal or the proposed process to be followed to wind-up PEPR. This process is documented and forms part of the AGM material distributed to Ordinary Unitholders. These documents are also available on the PEPR website, www.prologis-ep.com.

The AGM will be held in Luxembourg and will commence at 08:00 CET on 27 June 2012.

-Ends-

For further information, please contact:

Investor relations

Jennifer Crooke

[phone]

[e-mail]

Media

M:Communications

Charlotte McMullen

[phone]

[e-mail]

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, Inc. (NYSE: PLD), 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 March 2012, PEPR has a portfolio of 210 buildings, covering 4.5 million square metres in 11 European countries, with a market value of €2.5 billion. The portfolio has an occupancy level of 93.6% and an average of 3.0 years to the next lease break or 5.1 years to lease expiry.