ProLogis to Develop 503,000-Square-Foot Facility for a Leading UK Retailer in Scotland

ProLogis to Develop 503,000-Square-Foot Facility for a Leading UK Retailer in
Scotland
- Company To Sell Facility and 32 Acres of Land Upon Construction Completion
To Canada Life -

NEWHOUSE, Scotland, Aug. 27 /PRNewswire-FirstCall/ -- ProLogis (NYSE: PLD), a
leading global provider of distribution facilities, announced today it will
develop a new, 503,000-square-foot distribution facility in Scotland for a
leading UK retailer. The existing ProLogis customer currently occupies more
than 300,000 square feet at ProLogis Park Coventry in the West Midlands, UK.

"ProLogis has recently refined its approach to development, and we are
extremely pleased to announce another transaction that reflects our efforts to
monetize our land bank while also meeting the distribution space needs of a
repeat customer," said Philip Dunne, president of ProLogis in Europe. "It was
a combination of best location, security of delivery and customer service that
enabled ProLogis to capture this significant piece of new business."

As a part of this third-quarter development agreement, ProLogis will construct
the facility on a 32-acre parcel of land it currently owns in Newhouse,
Scotland, subject to planning consent. The company has entered into an
agreement to sell the facility upon construction completion to Canada Life
Limited, a wholly owned subsidiary of Great-West Lifeco, one of the largest
Canadian life and health insurance companies.

"Canada Life is pleased to commit to the purchase of this distribution
facility," said Michael White, investment director at Canada Life. "ProLogis
has an impeccable reputation for its high-quality, energy-efficient design and
development. As such, we have been committed to this project early on and look
forward to adding this facility to our growing portfolio upon its completion
next summer."

The facility is located immediately adjacent to junction six of the M8
motorway, Scotland's primary east-west route connecting the capital city of
Edinburgh to the city of Glasgow. The distribution center will include green
features, such as rainwater harvesting and a sustainable urban development
drainage system. Construction of the facility will begin in the fall of 2009
and is expected to be completed in mid-2010.

This transaction represents the largest new build-to-suit agreement signed in
the UK in more than 10 months. Andrew Griffiths, UK managing director for
ProLogis added, "With our combination of attractive land positions and
unparalleled construction expertise for grade A, sustainable facilities, we
are uniquely suited to satisfy our customers' ongoing needs and capture new
development business, despite a stressed economy."

ProLogis is one of the largest providers of distribution space in the UK with
a distribution portfolio totaling approximately 18.5 million square feet.
Other major customers in the country include ASOS.com, Bosch-Siemens,
Debenhams, DHL, GEFCO, Honda Logistics, Sainsbury's, Screwfix, Spec Savers and
Superdrug.

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 http://www.prologis.com.

SOURCE ProLogis

Media, Mo Sheahan, +1-303-567-5434, msheahan@prologis.com, or Investors,
Melissa Marsden, +1-303-567-5622, mmarsden@prologis.com, both of ProLogis; or
Suzanne Dawson of Linden Alschuler & Kaplan, Inc., +1-212-329-1420,
sdawson@lakpr.com; or UK Media, Terry Druce of Druce PR, +44-1935-823-943,
terry@drucepr.com, both for ProLogis