ProLogis Developing 300,000-Square-Foot Industrial Facility for Meyer & Meyer in Northern Germany

COLOGNE, Germany, April 19 /PRNewswire-FirstCall/ -- ProLogis , a leading global provider of distribution facilities and services, today announced it will develop a 300,000-square-foot (27,900-square-meter) industrial facility in northern Germany that has been pre-leased to Meyer & Meyer Internationale Spedition, an international provider of logistics services to the fashion and textile industries.

The new building will be located in Peine, Germany, approximately 30 kilometers east of the city of Hanover. It will allow Meyer & Meyer to consolidate operations currently housed at a number of different locations in the area, and also serve as a regional headquarters facility for the company.

"Our business has grown considerably over the last ten years, and we now have an opportunity to improve operational efficiency through centralization and consolidation," said Michael Meyer, managing director of Meyer & Meyer. "We're pleased to be working with ProLogis, and look forward to realizing the benefits of this new facility."

"Meyer & Meyer evaluated a number of possible developers before selecting ProLogis for this important project," said Roland Hennebach, ProLogis vice president. "Our international scale and reputation for quality were key factors in their decision, and we're pleased to be working with them as their industrial facilities provider."

Located along Germany's Autobahn A2 motorway, the site for the new facility offers easy access to railways, canals and Hanover-Langenhagen Airport. Construction will begin this month and is expected to be completed in the second half of 2006.

Meyer & Meyer, one of Europe's leading providers of logistics services specializing in textiles, operates an international network of subsidiaries and trading partners covering 40 countries. Meyer & Meyer also provides logistics services to distributors of furniture, bicycles and other products.

ProLogis is one of Germany's largest providers of industrial space, with a total platform of approximately 4.2 million square feet (390,000 square meters) owned, managed or under development in locations around Cologne, Frankfurt, Hamburg, Munich, Stuttgart and other key markets. Additional customers in Germany include C&A, Geodis, NYK Logistics and ABX Logistics.

About ProLogis

ProLogis is a leading provider of distribution facilities and services with more than 377 million square feet (35 million square meters) in 2,340 distribution facilities owned, managed and under development in 77 markets in North America, Europe and Asia, as of Dec. 31, 2005. ProLogis continues to expand the industry's first and largest global network of distribution facilities with the objective of building shareholder value. The company expects to achieve this through the ProLogis Operating System(R) and its commitment to providing exceptional facilities and services to meet its customers' expansion and reconfiguration needs.