SOURCE: W. P. Carey & Co. LLC

September 19, 2005 09:25 ET

W. P. Carey International Elects Edward V. LaPuma President

NEW YORK, NY -- (MARKET WIRE) -- September 19, 2005 -- W. P. Carey International LLC, an affiliate of investment firm W. P. Carey & Co. LLC (NYSE: WPC), today announced the election of Edward V. LaPuma as President. In this capacity, he will manage all operations, investments and corporate strategies of the companies outside the United States. W. P. Carey International LLC currently operates out of New York and London.

Mr. LaPuma currently serves as Managing Director and Director of the Investment Department - International of W. P. Carey & Co. LLC. He also serves as President of Corporate Property Associates 14, a member of the W. P. Carey Group of income generating real estate funds.

Wm. Polk Carey, Chairman and CEO of W. P. Carey International LLC, said, "I am pleased to announce Ed's election as President. Since joining the firm more than a decade ago, Ed has been involved in every aspect of our business. From fundraising to corporate initiatives, to deal negotiations, Ed has brought enthusiasm, creativity and sheer determination to each task. Under his leadership our international investment volume has seen tremendous growth and today it is the fastest growing part of our business. This has profited our investors and benefited companies around the world by providing them with creative financing solutions. Today we own and manage more than 15 million square feet of quality real estate throughout Europe and Asia. I am confident that with Ed as President of W. P. Carey International we shall continue to serve as the leading provider of net lease financing to companies around the world."

Mr. LaPuma joined W. P. Carey & Co. as Assistant to the Chairman in July 1994 where he helped establish the firm's Institutional Department. He joined the firm's Investment Department in 1995 and was elected President of Carey Institutional Properties (CIP®) in May 2001 and President of CPA®:14 in 2005. Prior to joining W. P. Carey & Co., Mr. LaPuma was a consultant with the Sol C. Snider Entrepreneurial Center where he advised small business owners on ways to make their companies more profitable through the implementation of appropriate financial and management strategies. Mr. LaPuma also founded his own consulting firm, which specialized in providing strategy consultation services to industrial companies, which was later sold.

He serves as a Trustee of the Renssalearville Institute and of the W. P. Carey Foundation, as a governor of the Delta Phi Fraternity ("St. Elmo") and as a Director of W. P. Carey International LLC. Mr. LaPuma earned two degrees from the University of Pennsylvania in 1994, both awarded magna cum laude, one in Finance from its Wharton School, the other in Global Economic Strategies from its College of Arts and Sciences.

W. P. CAREY & CO. LLC

Founded in 1973, W. P. Carey & Co. LLC is a global investment firm concerned with assisting corporations with 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 $7.4 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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