ProLogis unit begins tender offer for 4.375% notes due April 2011

By Susanna Moon

Chicago, Nov. 3 - PLD International Finance LLC, a wholly owned indirect subsidiary of ProLogis, said it began a cash tender offer for the €252,350,000 outstanding 4.375% notes due April 2011 guaranteed by ProLogis.

For each €50,000 principal amount, PLD will pay €50,500 plus accrued interest to the payment date.

The offer will expire at 11 a.m. ET on Nov. 12.

The settlement date is expected to be Nov. 16.

Deutsche Bank AG, London Branch (attn: liability management group, +44 (0) 20 7545 8011 or e-mail liability.management@db.com) is dealer manager, and Lucid Issuer Services Ltd. (attn: Sunjeeve Patel/Yves Theis, tel: +44 (0) 20 7704 0880, fax: +44 (0) 20 7067 9098 or e-mail: prologis@lucid-is.com) is tender agent.

ProLogis is a Denver-based provider of distribution facilities.

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