Corporate Property Associates 15 Incorporated (CPA^®:15) is a publicly held non-traded real estate investment trust (REIT) that provides long-term financing solutions to quality companies throughout the United States and Europe. We purchase and lease back real estate assets, enabling companies to reinvest the newly freed up capital in their businesses – a process known as sale-leaseback financing.

 

W. P. Carey Announces Proposed Acquisition of CPA^®:15 and Conversion to REIT

On February 21, 2012, the Boards of Directors of CPA^®:15 and W. P. Carey & Co. LLC (“W. P. Carey”) announced that the two companies have entered into a definitive agreement under which W. P. Carey will acquire CPA^®:15 and convert into a real estate investment trust (“REIT”). For more information, please refer to CPA^®:15’s investor presentation as filed with the Securities and Exchange Commission.

CPA^®:15 Investor Presentation

 

TENDER OFFER
We would like to draw your attention to the recent tender offer solicitation by Mackenzie Patterson Fuller (MPF) to acquire your shares at a discount.

• Please read this postcard, which provides detailed information on why we believe you should reject MPF's offer.
• We suggest that you consult your financial advisor or contact our Investor Relations Department at 1-800-WP CAREY (972-2739) for further assistance.
• In addition, we strongly encourage you to view the Securities and Exchange Commission’s website, which can provide additional information on the dangers of these types of tender offers.

DISTRIBUTION YIELD
As of December 31, 2007, yields are based on a $9.92 per share investment value after adjusting for the $.08 per share special distribution paid on January 16, 2008.