SOURCE: W. P. Carey & Co. LLC

March 16, 2005 15:08 ET

W. P. Carey & Co. LLC Increases First Quarter Dividend

Represents Sixteenth Consecutive Quarterly Increase

NEW YORK, NY -- (MARKET WIRE) -- March 16, 2005 -- Investment firm W. P. Carey & Co. LLC (NYSE: WPC) announced today that its Board of Directors has increased the quarterly cash dividend to $.444 per common share for the quarter ending March 31, 2005. The dividend is payable on April 15, 2005 to shareholders of record as of March 31, 2005. The Company has increased dividends every year since it became public.

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 income generating, publicly held non-traded real estate investment trusts (REITs). With $3.5 billion in equity capital, the W. P. Carey Group 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 88 million square feet, valued at approximately $7 billion.

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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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