World Headquarters
ProLogis
4545 Airport Way
Denver, CO 80239 USA
303.567.5000
800.566.2706

Annual Meeting
The Annual Meeting of Shareholders of ProLogis will be held at the company's world headquarters, identified above, at 10:30 am Mountain Time on Tuesday, May 15, 2007.

Shareholders
As of March 12, 2007, ProLogis had in excess of 86,000 record and beneficial common shareholders.

Independent Registered Public Accountants
KPMG LLP
Denver, Colorado

Transfer Agent
Computershare
P.O. Box 43010
Providence, RI 02940-3010
800.956.3378
781.575.3120 outside the United States

Shareholder account information may also be accessed from its website at www.computershare.com.

Information Requests
ProLogis' audited consolidated financial statements are available upon request. The 2006 Annual Report on Form 10-K as filed with the Securities and Exchange Commission and additional company materials can be obtained by calling the Investor Relations information line at 800.820.0181 or by visiting the company's website at http://ir.prologis.com and clicking on the appropriate sections of the site.

Analyst Contact:
Melissa Marsden
SVP, Investor Relations and Corporate Communications
303.567.5622
mmarsden@prologis.com

ProLogis Dividend Reinvestment and Share Purchase Plan
The ProLogis Dividend Reinvestment and Share Purchase Plan offers the opportunity to purchase common shares directly or through the reinvestment of dividends, at a 0% to 2% discount from market price as determined by the company. Copies of the plan prospectus and enrollment forms are available from our transfer agent, Computershare, at www.computershare.com or by calling 800.956.3378.

Cumulative Total Return
Based upon an initial investment of $100 on December 31, 2001, with dividends reinvested.

	Dec 01	Dec 02	Dec 03	Dec 04	Dec 05	Dec 06
ProLogis	$100	$124	$167	$236	$263	$353
NAREIT Equity REIT Index	$100	$104	$142	$187	$210	$284
S&P© 500 Index	$100	$78	$100	$111	$117	$135

Quarterly Stock Price Ranges and Distributions
New York Stock Exchange: PLD

	2006 Stock Price			2005 Stock Price
Quarter	High	Low	Dividend	High	Low	Dividend
First	$56.31	$46.29	$0.40	$43.50	$36.67	$0.37
Second	$53.85	$46.66	$0.40	$42.34	$36.50	$0.37
Third	$58.86	$52.05	$0.40	$46.41	$40.12	$0.37
Fourth	$65.81	$56.07	$0.40	$47.61	$39.81	$0.37

Notice of Capital Gain Dividends
This notice is provided to inform the shareholders of ProLogis of the capital gain portion of dividends received during 2006 pursuant to Internal Revenue Code §857(b)(3)(C). This notice is being provided in addition to a 2006 Form 1099-DIV that has been mailed to all shareholders. The following table displays the taxability of company distributions for the year ended December 31, 2006, and designates the portion of the dividends that are capital gain dividends.

The tax treatment to shareholders of these distributions could vary depending on the shareholder's particular situation (i.e., foreign, tax-exempt, etc.). Shareholders should consult their own tax advisors regarding the treatment of these distributions.

Class of Stock	Taxable Ordinary     Dividends	Qualified     Dividends	Return of Capital
Common	59.35%	2.50%	38.15%
Series C Preferred	95.97%	4.03%	0%
Series F Preferred	95.97%	4.03%	0%
Series G Preferred	95.97%	4.03%	0%