SOURCE: W. P. Carey & Co. LLC

July 21, 2005 09:15 ET

W. P. Carey & Co. Appoints Robert C. Kehoe Treasurer

NEW YORK, NY -- (MARKET WIRE) -- July 21, 2005 -- Investment firm W. P. Carey & Co. LLC (NYSE: WPC) today announced the appointment of Robert C. Kehoe as Treasurer. In this capacity Mr. Kehoe will be responsible for the oversight of operating receipts and disbursements, investing funds on a short-term basis earmarked for real estate transactions, monitoring international cash movements, interest rate management, debt monitoring, foreign exchange monitoring and coordinating banking relationships.

Gordon F. DuGan, CEO of W. P. Carey, said, "As W. P. Carey experiences continued growth we believe Bob's appointment as Treasurer is an important one. His expertise and eighteen years of experience as a senior officer in our Treasury Department will serve W. P. Carey and its investors well."

Mr. Kehoe joined W. P. Carey & Co. LLC in 1987 as a Senior Accountant. Prior to W. P. Carey, from 1984 to 1987, he worked as a Senior Accountant at Deloitte Haskins & Sells. Before this, from 1982 to 1984, he was Manager of Financial Controls at CBS Educational and Professional Publishing. Mr. Kehoe received his undergraduate degree in accounting from Manhattan College in 1982 and an MBA in Finance from Pace University in 1993.

W. P. CAREY & CO. LLC

Founded in 1973, W. P. Carey & Co. LLC is a global investment firm concerned with assisting corporations with various forms of long-term financing. The Company also provides asset management services to the Corporate Property Associates (CPA®) series of real estate investment trusts (REITs). The W. P. Carey Group, with $3.5 billion in equity capital, is one of the leading providers of net lease financing for corporate properties worldwide. The Group owns more than 700 commercial and industrial properties worldwide, representing more than 90 million square feet, valued at approximately $7.2 billion. www.wpcarey.com

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This press release contains forward-looking statements within the meaning of the Federal securities laws. A number of factors could cause the company's actual results, performance or achievement to differ materially from those anticipated. Among those risks, trends and uncertainties are the general economic climate; the supply of and demand for office and industrial properties; interest rate levels; the availability of financing; and other risks associated with the acquisition and ownership of properties, including risks that the tenants will not pay rent, or that costs may be greater than anticipated. For further information on factors that could impact the company, reference is made to the company's filings with the Securities and Exchange Commission.

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