ProLogis announces resignation of John W. Seiple as President and CEO of North America (US)

ProLogis announced yesterday that John W. Seiple, Jr. will resign as President and Chief Executive Officer of North America for ProLogis, with the completion of the previously announced merger with Catellus Development Corporation. He will terminate his employment with the company effective December 31, 2005.

Jeffrey H. Schwartz, Chief Executive Officer, stated, "John has made numerous and substantial contributions to ProLogis for more than a decade. His leadership of our North American operations and development activities over the past six years has helped ProLogis achieve its position today as the continent's largest provider of distribution space."

"Additionally, John has helped build a very experienced, talented team at all levels throughout our North American organization. On behalf of all our ProLogis associates, I would like to thank John for helping ProLogis achieve many significant milestones over the past 12 years, and we wish him the very best in all his new endeavors," Mr. Schwartz added.

John Seiple responded, "I am grateful to have had the opportunity to participate in the extraordinary growth of ProLogis from the earliest days. Today, ProLogis is, without question, the industry leader due to the efforts of our associates worldwide. This is a great time for a transition, as our unparalleled North American team and leading market position will be further strengthened with the integration of new Catellus team members."

Upon completion of the Catellus merger, Ted Antenucci, currently president of Catellus Commercial Development, will assume the majority of Mr. Seiple's responsibilities.

Source: ProLogis

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