ProLogis European Properties calls Extraordinary General Meeting to amend Management Regulations

ProLogis European Properties (Euronext: PEPR), one of Europe’s largest owners of modern distribution facilities, announced today that it is holding an Extraordinary General Meeting ('EGM') to vote on a proposal, by Prologis, Inc. under Article 18.1 of the Management Regulations, to change PEPR’s Management Regulations.

The proposed amendments are intended to improve the overall financial outcome if, in the future, there is a winding-up of PEPR. If approved, the amended Management Regulations will allow for all unitholders owning more than one per cent of the ordinary units, whether individually or collectively in an ad-hoc partnership, to be offered the option to elect for distributions “in specie” (e.g. by transfer of the shares in companies holding properties) rather than only in cash, as currently envisaged.

The proposed amendments have been approved by the Commission de Surveillance du Secteur Financier, the Management Company and the PEPR Board.

The EGM will commence at 09:00 CET on 14 March 2012 in Luxembourg. The Convening Notice of the EGM, a letter to investors and related documents have been sent to Ordinary Unitholders. These documents are also available on the PEPR website, www.prologis-ep.com.

Peter Cassells, CEO of PEPR, commented: “The proposed amendment to the Management Regulations will provide unitholders with greater flexibility in the event of a winding-up of PEPR as they permit distributions to be made in specie as well as in cash.”