REPORT GUIDE AND STAKEHOLDER COMMUNICATION | page 4 of 19

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The basis for reporting on other matters specific to the operations of our business, including joint ventures, subsidiaries, leased facilities, outsourced operations and other entities that can affect comparability from period to period, can be found in ProLogis' Annual Report on Form 10-K, which is filed with the Securities and Exchange Commission.

This report is intended to provide information about the most significant sustainability-related impacts that arise from our business activities and is focused on those for which we have the greatest degree of control or influence. By identifying and reporting on the most material issues to ProLogis and our stakeholders, we ensure that our reporting remains relevant and useful.

We are pleased to report that as of December 31, 2007, there have been no re-statements of information provided in previous sustainability-related disclosure. In addition, the scope of reporting related to our total carbon footprint has been expanded to include international data; in 2006, we only reported on the CO² emissions resulting from our U.S. business operations.

To the extent possible, we have included data from internal resources or with the help of our business partners. When original data was not available, we relied on third-party sources for estimates. We also have engaged a third-party assurance provider to assist in expanding the scope and level of detail included, as well as in developing and refining data collection methodologies for this and future reports.

This report incorporates the most recent G3 Guidelines as released by the Global Reporting Initiative (GRI) as a general framework for this report. GRI is an international, multi-stakeholder network through which a recognized sustainability reporting framework has been developed. This report has been externally assured and GRI-checked as meeting the requirements for GRI's Application Level "B+".

Questions or feedback? Please contact ProLogis' Investor Relations department at 1-800-566-2706.

INDEPENDENT ASSURANCE STATEMENT SUPPLEMENT
Opinion On the basis of the method and scope of work undertaken and the information provided to us by ProLogis:

Materiality Nothing came to our attention to suggest that significant material issues for the company have been omitted from the scope of the Report. We recommend that ProLogis consider discussing the following areas in more detail in future reports: health and safety performance indicators, the implications of the Foreign Corrupt Practices Act and issues around labor standards for suppliers and contractors in emerging markets.

Completeness We are not aware of any material reporting units which have been excluded from the consolidated data, beyond those specified in the scope of the Report. Nothing has come to our attention that causes us to believe that the data have not been properly collated from information reported at operations level. In the future, ProLogis should consider explicitly linking its identification of material issues to stakeholder feedback to ensure that concerns from all stakeholders are being addressed by the company. The introduction of a systematic approach to giving and reporting on charitable donations and community support activities at corporate and operations level should be a priority for the coming year. We found evidence that appropriate systems are in place for monitoring and gathering information on relevant management arrangements and consolidated performance.

Responsiveness We reviewed evidence of a variety of mechanisms in place for responding to key stakeholders such as investors, employees and customers at group level and some examples of engagement mechanisms for additional stakeholders at the operational level. We note ProLogis' strength in conducting systematic dialogue with customers and believe that this example could be used to develop more systematic engagement mechanisms with other stakeholders. Looking forward, we recommend setting group-wide targets around social aspects of performance, particularly with regard to employee development, community interaction and supplier standards.

csr network ltd
U.K. March 2008

Jon Woodhead, Director

Todd Cort, Project Manager

REPORT GUIDE AND STAKEHOLDER COMMUNICATION | page 4 of 19

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