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W. P. Carey & Co. LLC to Release Fourth Quarter 2001 Financing Results on February 27, 2002

Conference Call and Audio Web-Cast Scheduled for 10:30am

February 14, 2002

NEW YORK, NY – February 14, 2002 – W. P. Carey & Co. LLC (NYSE:WPC), a real estate investment banking firm, announced today that it will release financial results for the fourth quarter and full year 2001 prior to market-open on Wednesday, February 27, 2002. The financial results will be released over First Call, direct fax, electronic mail, W. P. Carey's website and all major wire services. In addition, the Company will host a conference call and audio web-cast on February 27th at 10:30 AM (EST).

Conference call and web-cast details:

Date: Wednesday, February 27, 2002

Start Time: 10:30 AM EST

Call-in Number: 800-360-9865 (US); 
973-694-6836 (International)

Replay Number: 800-428-6051 (U.S.); 
973-709-2089 (International)

Access code: 231984

Web-cast: www.wpcarey.com

Speakers: Chairman Wm. Polk Carey, President Gordon F. DuGan and Chief Financial Officer John J. Park.

Founded in 1973, W. P. Carey & Co. specializes in corporate real estate financing through the corporate net lease or sale-leaseback structure. The firm and its affiliates continue to be the leading lessors of net leased corporate real estate in the United States. As the largest publicly traded limited liability company in the world, the company owns and/or manages more than 400 commercial and industrial properties throughout the United States and Europe comprising of more than 50 million-square-feet of space. The firm is headquartered in Manhattan and has offices in London and Paris.

To receive W. P. Carey's latest news and corporate developments via fax at no cost, please call 1-800-WP-CAREY and ask for the Corporate Communications Department.

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.

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