W. P. Carey Provides $90 Million in Capital to Companies Throughout the U.S.

Companies and Private Equity Firms Utilize Recapitalization, Acquisition and Build-to-Suit Financing

NEW YORK, June 7 -- Investment firm W. P. Carey & Co. LLC announced today that, on behalf of its affiliated income generating real estate investment trusts (REITs), it recently acquired seven facilities, totaling more than 1.2 million square feet in seven states, for more than $90.7 million.

Among the transactions funded on behalf of Corporate Properties Associates 15 Incorporated (CPA(R):15), part of the $6.4 billion W. P. Carey Group of publicly held, non-traded REITs were:

   * The $7.2 million acquisition of two manufacturing facilities from a
     leading manufacturer of metal components for the automotive industry.
     The facilities, located in Mentor, OH and Franklin, TN, total 253,000
     square feet and will be leased under a 20-year triple net lease
     followed by two, ten-year renewal options.  The transaction provided
     financing in the recapitalization of the Company.

   * The $8.7 million acquisition of the corporate headquarters of a leading
     air carrier in the U.S. that provides customized transportation
     services for major international passenger and cargo carriers, the U.S.
     military and international leisure tour operators.  Located in
     Peachtree City, GA, the 57,507 square foot facility will be leased for
     15-years followed by two, ten-year renewal options.

   * The $28.6 million build-to-suit financing of a warehouse/distribution
     facility located in Omaha, NE.  The 550,000 square foot facility will
     be leased to a leading direct marketer of value-priced toys, novelties,
     party supplies, home decor, and giftware and under a 20-year triple net
     lease followed by four, five-year renewal options.  The transaction
     provided construction financing to build a state-of-the-art
     distribution center.

   * The $32.5 million acquisition of the corporate headquarters of a
     consumer products company located in California.  The facility will be
     leased under a 20-year triple net lease followed by two, ten-year
     renewal options.  The transaction provided acquisition financing to the
     private equity firm acquiring the Company.

Corporate Properties Associates 16 -- Global Incorporated (CPA(R):16 -- Global), also a member of the W. P. Carey Group, funded the following transaction:

   * The $13.7 million acquisition of the corporate headquarters and
     principal facilities of a leading designer, manufacturer and marketer
     of innovative floor and carpet maintenance equipment for commercial,
     professional and industrial applications.  The facilities, totaling
     more than 233,000 square feet, are located in Englewood, CO and
     Chandler, AZ and will be leased under a 20-year triple net lease
     followed by four, five-year renewal options.  The transaction provided
     financing in the recapitalization of the Company.

Gordon F. DuGan, President and Co-Chief Executive Officer of W. P. Carey, said, "These recent transactions reflect the continued interest among companies and private equity firms throughout the United States in securing capital through W. P. Carey. Our capacity to work with a variety of industries, in various geographic regions, is another example of our ability to create corporate finance solutions. We are pleased to have provided the acquisition, recapitalization and build-to-suit financing for these transactions as they offer excellent examples of how the sale-leaseback can complement any corporate financing need."

W. P. CAREY & CO. LLC

Founded in 1973, W. P. Carey & Co. is a leading global investment firm that has long served as the preeminent provider of sale-leaseback financing to corporations and private equity firms in the United States and Europe. It owns a portfolio of net-leased real estate assets and provides asset management services to the Corporate Property Associates (CPA(R)) series of income generating, publicly held non-traded real estate investment trusts (REITs). The Company currently owns and/or manages more than 680 commercial and industrial properties worldwide, representing 95 million square feet.

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.

   PRESS CONTACT:
   Curt Ritter
   W. P. Carey & Co. LLC
   212-492-8989
   critter@wpcarey.com
   Media Kit: http://www.wpcarey.com/MediaKit