Catherine D. Rice Joins W. P. Carey to Be Appointed Chief Financial Officer Effective March 2013

Tue Nov 13, 2012 8:00am EST

* Reuters is not responsible for the content in this press release.

  NEW YORK, NY, Nov 13 (Marketwire) -- 
W. P. Carey Inc. (NYSE: WPC) announced today that Catherine (Katy) D.
Rice will join the Company as Managing Director on January 7, 2013 and
will be appointed Chief Financial Officer in March 2013. The Company
announced Mark DeCesaris' intention to resign as CFO and his election as
a member of the Board of Directors in July 2012. 

    Trevor Bond, President and Chief Executive Officer of W. P. Carey,
commented, "Katy brings a wealth of experience in the real estate
industry to W. P. Carey. Not only has she served as the CFO of a public
REIT, but she also has experience as both an independent real estate
investor and as an investment banker. The depth and breadth of her
background and industry knowledge make her an ideal CFO for us given our
recent conversion to a REIT as well as the corporate finance orientation
of our investment activities in the net lease sector. We are pleased that
we have the benefit of having Mark available to work closely with Katy to
ensure a smooth transition."

    Commenting on her appointment, Ms. Rice added, "W. P. Carey is extremely
well-positioned from both a financial and strategic standpoint to build
on the success of its long-established global sale-leaseback investment
strategy. I look forward to joining the Company at this important
juncture in its nearly 40 year history. Having served as the CFO of a
large publicly traded REIT and on the investment and capital markets side
of the business, I believe I can make a meaningful contribution to W. P.
Carey's continued growth and its success as a REIT." 

    With more than 25 years of real estate industry experience, most recently
Ms. Rice served as Managing Principal at Parmenter Realty Partners, a
privately held real estate management, investment and development
company. From 2002 to 2009, she served as Chief Financial Officer of
iStar Financial Inc, a public REIT focused on real estate finance. Prior
to joining iStar, she held senior positions in the real estate investment
banking groups at Banc of America Securities, Lehman Brothers and Merrill
Lynch, where she managed senior client relationships and was responsible
for a range of REIT and real estate-related financings and transactions
including initial public offerings, public and private debt and equity
offerings, consolidations, mortgage financings, mergers and acquisitions,
leveraged buyouts, asset dispositions and debt restructurings. She has
experience in the office, industrial, hotel, entertainment, residential
and retail property sectors. 

    W. P. Carey Inc.
 W. P. Carey Inc. is a publicly traded REIT (NYSE: WPC)
that provides long-term sale-leaseback and build-to-suit financing for
companies worldwide and manages an investment portfolio of approximately
$13.3 billion. W. P. Carey Inc. is the successor to W. P. Carey & Co.
LLC, which had its origins in 1973. The largest owner/manager of net
lease assets, our corporate finance focused credit and real estate
underwriting process is a constant that has been successfully leveraged
across a wide variety of industries and property types. Our portfolio of
long-term leases with creditworthy tenants has an established history of
generating stable cash flows that have enabled us to deliver consistent
and rising dividend income to investors for nearly four decades.
www.wpcarey.com 

    This press release contains forward-looking statements within the meaning
of the Federal securities laws. A number of factors could cause the
Company's actual results, performance or achievement to differ materially
from those anticipated. Among those risks, trends and uncertainties are
the general economic climate; the supply of and demand for office and
industrial properties; interest rate levels; the availability of
financing; and other risks associated with the acquisition and ownership
of properties, including risks that the tenants will not pay rent, or
that costs may be greater than anticipated. For further information on
factors that could impact the Company, reference is made to the Company's
filings with the Securities and Exchange Commission. 

    

COMPANY CONTACT:
Cheryl Sanclemente
W. P. Carey Inc.
212-492-8995
csanclemente@wpcarey.com

PRESS CONTACT:
Guy Lawrence
Ross & Lawrence
212-308-3333
gblawrence@rosslawpr.com 

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