W.P. Carey Group Acquires Simpson Industries' Headquarters

                    $10 Million Sale-Leaseback of Leading
                 Automotive Supplier's Headquarters Facility

    NEW YORK, Jan. 25 W. P. Carey & Co. LLC , a
leader in the ownership and net leasing of corporate properties, today
announced that it has closed on the acquisition of Simpson Industries, Inc.'s
headquarters facility, located in Plymouth, Michigan.  The facility was
purchased on behalf of Corporate Property Associates 14 Incorporated
(CPA(R): 14), a public non-traded real estate investment trust (REIT), and
member of the $2.5 billion W. P. Carey Group.

    The 70,000 square foot headquarters building is located on a 5-acre site
Northwest of the Detroit metropolitan area.  The transaction is part of the
leveraged buyout of Simpson by Heartland Industrial Partners LP, a private
equity firm based in Greenwich, CT.  Heartland is acquiring Simpson as part of
its strategic roll-up of a series of metal forming and machining companies in
the automotive and industrial industry.  The facility is leased to Simpson
under a long-term fully net lease.  The lease is unconditionally guaranteed by
Simpson's Parent Company, Metaldyne.

    Commenting on the transaction, Gordon F. DuGan, President and Chief
Acquisitions Officer of W.P. Carey, stated, "W.P. Carey has a proven track
record of developing creative financing solutions that meet the specific needs
of companies in virtually every industry.  A sale-leaseback offers companies
such as Simpson a particularly attractive financing option, especially given
the current credit crunch being experienced in the bank and credit markets."