Luxembourg - 15 July 2010 - ProLogis European Properties (Euronext: PEPR), one of Europe's largest owners of modern warehouse distribution facilities, today announces that it has signed a 17 year lease agreement with Travis Perkins, a leading supplier to the UK's building and construction industry, for 490,000 square feet (45,520 square metres) of distribution space at Brackmills DC1 in Northampton. The new lease will run from 1 November 2010.

Simon Nelson, head of asset management for PEPR, said "We are pleased to have signed our first agreement with Travis Perkins in the UK and look forward to working with them. This deal creates significant value for PEPR by securing occupancy of the building for 17 years at market rates. The ability to surrender the lease with the previous occupier and structure a new agreement with Travis Perkins is testament to the quality of our assets and the strength of our management team, as well as to the flexibility we are able to provide through the strength of our customer base, all of which will support us as we continue to focus on maintaining high occupancy levels and generating cash flow from the portfolio."

Martin Meech, Travis Perkins' Group Property Director, said "We were delighted to be able to source this high-quality facility so quickly. Our procurement and logistics strategy is undergoing complete restructuring and this is all part of an evolving business. We are therefore pleased to have consolidated our presence in the Northampton area, where we have added 1,000,000 square feet (92,900 square metres) of new warehousing space in the last two years."

The deal, which was off-market, confirms the continued reduction in availability of warehouse buildings of comparable size and quality in the Midlands.

The transaction was completed on behalf of PEPR by ProLogis (NYSE: PLD), manager of the PEPR portfolio. Chadwick McRae (Northampton) represented Travis Perkins.