ProLogis 2007 Summary Annual Report

FINANCIAL HIGHLIGHTS | page 1 of 1

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During 2007, ProLogis achieved strong improvement in all key business measures, firmly establishing the foundation to support the next phase of the company's growth.

Increased ProLogis' defined funds from operations per share, as adjusted (FFO), to $4.61, up 24.6% from $3.70 in 2006, and net earnings per diluted share to $3.94, up 18.7% from $3.32 in 2006

Grew total assets owned, managed and under development to $36.3 billion, up 36.0% from $26.7 billion at the end of 2006

Began a record $4.1 billion of new industrial and retail/mixed-use development, up 61.4% over 2006

Achieved record leasing of over 108 million square feet of space, a 6.3% increase over 2006

Increased 2008 common distribution to a projected rate of $2.07 per share, a 12.5% increase over 2007 - the 14th consecutive increase

Achieved total shareholder return of 7.4%, including share price appreciation and distributions

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ProLogis Defined Funds from Operations, as Adjusted* Total Revenue* Total Assets Owned, Managed and Under Development* Distribution per Share

(per share) (in billions) (in billions)

*Before $0.20 (2005) and $0.01 (2006) in certain charges including impairment, relocation and merger integration charges *As reported in FFO; includes CDFS disposition proceeds *Includes 100% of assets of ProLogis' unconsolidated investees

FINANCIAL HIGHLIGHTS | page 1 of 1

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