ProLogis Releases Interim Update to Annual Summary

DENVER, Nov. 9 /PRNewswire-FirstCall/ -- ProLogis (NYSE: PLD), a leading
global provider of distribution facilities, announced today that it has
released "Momentum for the Road Ahead," an interim update to its Annual
Summary, which details the company's accomplishments since announcing its
Action Plan in November 2008. The complete web-based report is available at
http://ir.prologis.com/reports/oneYearLater/index.html.

"We are pleased to announce the successful execution of the plan we outlined
last fall to reduce debt and improve our liquidity," Walter C. Rakowich, chief
executive officer, said. "Given the tremendous progress we have made in less
than a year, we felt it would be beneficial to provide our shareholders and
other interested parties with an update, rather than wait until next spring to
deliver our Annual Summary."

The report does not provide an update to the financials of the company, but
rather updates and summarizes initiatives taken to strengthen the balance
sheet and reduce risk in light of challenging market conditions, including:

-- Actions to de-leverage the company by halting speculative development
starts, disposing of assets, buying back debt at a discount, raising
public equity and implementing a number of cost cutting measures; and

-- Actions to de-risk the company by reducing the unleased portion of the
company's development pipeline, exiting emerging markets and
simplifying
the business.

About ProLogis
ProLogis is a leading global provider of distribution facilities, with more
than 475 million square feet of industrial space owned and managed (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

Media, Krista Shepard, +1-303-567-5907, kshepard@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, for ProLogis