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					ProLogis Signs Build-to-Suit Agreement With Bunzl/Papercraft for Over
104,000 Square Feet Near Portland

PORTLAND, Ore., Oct. 28 /PRNewswire-FirstCall/ -- ProLogis (NYSE: PLD), a leading global provider of distribution
facilities and services, announced today that it has signed a build-to-suit agreement for 104,095 square feet with
Bunzl/Papercraft Distribution for a facility at Jennifer Distribution Center. Bunzl/Papercraft will use the facility to serve
supermarkets and third party distributors with disposable paper, plastic and packaging materials.

(Photo: )

We needed a new, state-of-the-art facility in a short amount of time and in a market with limited land available, said
Joel Benedetti, general manager for Bunzl/Papercraft. He added, ProLogis has provided us with high-quality
distribution space in other markets, and they had a site ready to go, making them the clear choice for helping us
expand in this market.

According to Ben Peterson, vice president for ProLogis, Bunzl/Papercraft needed to merge two operations into a new
building in a very tight time frame. Our familiarity with their distribution needs allowed us to react quickly and
accommodate their requirement. He added, We're quite pleased to welcome Bunzl/Papercraft, a leading global
corporation, as a ProLogis customer in the Portland market.

To allow for an expedited construction schedule, ProLogis had already begun the pre-construction process and
secured all building permits prior to finalizing the lease with Bunzl/Papercraft. Construction began on the facility in
early August and is scheduled for completion in January 2003.

Jennifer Distribution Center is located on Highway 212 just minutes east of I-205 in Clackamas, Oregon, providing
easy access to the Portland metropolitan area and the Pacific Northwest. ProLogis customers in the park include,
Fred Meyer Stores, Altek, Fireplace Products, Grabber Northwest, P&A Metal Fabrication and Health Wright Products.

With this newest facility, Bunzl/Papercraft will occupy nearly

375,000 square feet with ProLogis in six markets throughout the United States.

About ProLogis

ProLogis is a leading global provider of integrated distribution facilities and services, with over 211.3 million square
feet (19.6 million square meters) in 1,696 distribution facilities owned, operating and under development in 81 global
markets throughout North America, Europe and Japan. ProLogis has built and continues to expand the industry's first
and only global network of distribution facilities with the primary objective to increase shareholder value. The
company expects to achieve this objective through the ProLogis Operating System ® and its commitment to be 'The
Global Distribution Solution' by providing exceptional corporate distribution facilities and services to meet customer
expansion and reconfiguration needs globally.

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/CONTACT: Shannon Rowe of ProLogis, 303-576-2759,; or Ted Birkhahn of PepperCom,
Media Relations, 212-931-6119,, for ProLogis/

/Photo: NewsCom:

AP Archive:
PRN Photo Desk, 888-776-6555 or 212-782-2840/

/Web site: /


CO: ProLogis; Bunzl/Papercraft Distribution ST: Oregon IN: CST RLT PAP OFP SU: RLE

JN-CM -- LAM017 -- 5307 10/28/2002 07:02 EST

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