ProLogis Declares Dividends on Preferred Shares

DENVER, June 1 /PRNewswire-FirstCall/ -- ProLogis (NYSE: PLD), a leading
global provider of distribution facilities, announced today that its Board
declared a dividend in the amount of $1.0675 per Cumulative Redeemable Series
C preferred share, payable on June 30, 2009, to shareholders of record on June
15, 2009. Series C preferred share dividends are cumulative and payable
quarterly at an annualized rate of $4.27 per share.

ProLogis' Board also declared a dividend of $0.4219 per Cumulative Redeemable
Series F preferred share, payable on June 30, 2009, to shareholders of record
on June 15, 2009. Series F preferred share dividends are cumulative and
payable quarterly at an annualized rate of $1.6875 per share.

In addition, ProLogis' Board declared a dividend of $0.4219 per Cumulative
Redeemable Series G preferred share, payable on June 30, 2009, to shareholders
of record on June 15, 2009. Series G preferred share dividends are cumulative
and payable quarterly at an annualized rate of $1.6875 per share.

About ProLogis
ProLogis is a leading global provider of distribution facilities, with more
than 475 million square feet of industrial space (44 million square meters) in
markets across North America, Europe and Asia. The company leases its
industrial facilities to more than 4,500 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.

SOURCE ProLogis

Robbin Lee of ProLogis, +1-303-567-5690, rlee@prologis.com