Luxembourg - 22 April 2011 - ProLogis European Properties (Euronext: PEPR) notes the publication of ProLogis' (NYSE: PLD) formal tender offer document relating to its mandatory public take-over bid of €6.10 per ordinary unit and the bid of €6.10 per convertible preferred unit of PEPR. The offer period set by ProLogis starts on 22 April 2011 and the acceptance period, or deadline for tendering units into the offer, will end on 6 May 2011 unless extended by ProLogis as per the terms of the offer document or otherwise in accordance with applicable Luxembourg regulation.

As required by applicable Luxembourg regulation, ProLogis Management S.à r.l., acting in its capacity as the management company of PEPR (the "Management Company") in accordance with PEPR's management regulations, will review the offer document and provide a reasoned opinion in relation to the offer as soon as practicable. The Management Company reaffirms its commitment to act in the interests of PEPR as a whole and all PEPR unitholders.

PEPR will announce its first quarter 2011 financial results on Thursday 28 April 2011.

The Management Company, acting in its capacity as the management company of PEPR, has engaged Deutsche Bank as financial advisor and Arendt & Medernach and Freshfields Bruckhaus Deringer LLP as legal counsel.