ProLogis Asia Operations Announces Enhanced Corporate Branding

    - Reinforcing commitment in China and Japan logistics markets -

    SHANGHAI, March 3 /CNW/ -- The company formerly known as ProLogis Asian
Operations has been re-branded as "Global Logistic Properties". This is a key
step for the industrial and logistics infrastructure provider to continue its
leading market presence in China and Japan, Global Logistic Properties
announced today.
    The newly launched logo of GLP suggests key elements of "global
connection" and "logistics path" in the brand, the company said.
    ProLogis China's management team remains unchanged as GLP. ProLogis
Chairman and Chief Executive Officer Jeffrey H. Schwartz serves as Chairman of
GLP, while Ming Mei, former Chief Executive Officer of ProLogis China and
Asian Emerging Markets, is President of GLP.
    "We are excited to launch the new brand 'Global Logistic Properties' in
China and Japan as it marks a new starting point for the team to continue its
efforts in ensuring the consistency of our world-class quality assets as well
as to explore new business opportunities," said Jeffrey H. Schwartz, GLP
Chairman.
    "The sound knowledge of our partner, GIC RE, on this region's real estate
industry also bodes well for the team to continue its growth in China despite
the global financial turmoil," he noted.
    Dr. Seek Ngee Huat, President of GIC RE, said, "Being Asia's largest
industrial and logistics infrastructure provider, GLP is well-positioned to
service the long term needs of its fast-growing and diverse customer base. We
believe strongly in the growth of the logistics business in China and that GLP
will play a significant role in its progress and development."
    In a major vote of confidence in China's bright future in the world's
logistic industry, GLP has taken over a 50 percent interest in the 676,000 sqm
of industrial portfolio totaling RMB 1.5 billion from Genway Group, a leading
comprehensive real estate developer in Jiangsu Province. The facilities
currently serve multinational customers such as Philips, Panasonic, Samsung,
AMD and Schneider, etc.
    "The company will continue to focus on customer service while seeking
opportunities in the current economic environment," said Ming Mei, president
of GLP.
    The company will still keep its original Chinese brand, "Pu Luo Si", GLP
said.

    About Global Logistic Properties

    GLP is Asia's largest industrial and logistics infrastructure provider
with billions of US dollars worth of assets under management in 26 markets in
the region.
    In China, GLP controls 60 logistics parks in 18 major Chinese cities,
covering all major China logistics hubs. Its portfolio completed and under
construction totaled 3.29 million sqm at the end of January. The facilities
are located in the cities of Beijing, Chengdu, Chongqing, Dalian, Foshan,
Guangzhou, Hangzhou, Jiaxing, Ningbo, Nanjing, Qingdao, Shanghai, Shenyang,
Shenzhen, Suzhou, Tianjin, Wuxi and Zhuhai.
    GLP also controls 72 logistics parks in Japan with a portfolio totaling
approximately 2.5 million sqm. The facilities are located in the major markets
of Tokyo, Osaka, Nagoya, Sendai, Sapporo, Niigata, Fukuoka, and Hiroshima.

    About GIC Real Estate Pte Ltd (GIC Real Estate)

    GIC Real Estate is the real estate investment arm of the Government of
Singapore Investment Corporation. Its mandate is to invest globally in real
estate and real estate-related assets outside Singapore. GIC Real Estate
manages a multi-billion dollar portfolio of direct and indirect property
investments with close to 300 investments in more than 30 countries. It is one
of the largest institutional investors in Asia and currently ranks amongst the
world's top 10 global real estate investment firms.

For further information: Lynn Chen, +86-21-6105-2763, or
lchen@GLProp.com