ProLogis Names Ralf Wessel Senior Vice President and Manager, European Fund & Capital Markets

AMSTERDAM, Netherlands, May 4 /PRNewswire/ --

ProLogis (NYSE: PLD), a leading global provider of distribution facilities and services, announced today that Ralf Wessel has joined the company as Senior Vice President and Manager, European Fund & Capital Markets.

Mr. Wessel comes to ProLogis from Equity Estate, a Netherlands-based real estate investment management company, where he was responsible for initiating and structuring new investment vehicles for Middle Eastern investors. Further responsibilities included the development and execution of investment strategy for the company's managed funds, active asset management, acquisitions, and related debt structuring.

"We're extremely pleased to have Ralf Wessel on board as a member of the ProLogis executive team in Europe," said Jeffrey H. Schwartz, chief executive officer of ProLogis. "His experience and expertise in asset management and fund management will be enormously valuable to ProLogis as we continue to expand our European business."

At ProLogis, Mr. Wessel's responsibilities will include European fund management and related asset management: "I have observed ProLogis' growth and the expansion of its fund management business and am very excited about the opportunity to contribute to the company's continued success," Wessel said.

Mr. Wessel, 34, received his Msc in Business Economics from the University of Amsterdam and Msc in Real Estate Investment from City University in London.

About ProLogis

ProLogis is a leading provider of distribution facilities and services with 388.6 million square feet (36.1 million square meters) in 2,337 properties owned, managed and under development in 79 markets in North America, Europe and Asia as of March 31, 2006. We continue to expand the industry's first and largest global network of distribution facilities with the objective of building shareholder value. We expect to achieve this through the ProLogis Operating System(R) and our commitment to provide exceptional facilities and services to meet our customers' expansion and reconfiguration needs.