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W. P. Carey & Co. LLC Announces 2002 Annual Shareholder Meeting Conference Call and Web-Cast

Scheduled For Tuesday, June 11th at 10:30 AM

June 05, 2002

NEW YORK, NY – June 5, 2002 – W. P. Carey & Co. LLC (NYSE:WPC) announced today that it will hold its 2002 Annual Shareholder Meeting on Tuesday, June 11, 2002 at 10:30 AM. For shareholders and other interested parties who are unable to attend the meeting in person, it will be accessible by conference call and by web-cast on the company's website.

Conference call and web-cast details:

Date: Tuesday, June 11, 2002

Start Time: 10:30 AM EST

Call-in Number: 800-388-8975
(International) 973-694-2225

Replay Number: 800-428-6051
(International) 973-709-2089

Access code: 245640

Web-cast: www.wpcarey.com

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

Format: Presentation and discussion of company financials and 2002 outlook followed by Q&A..

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 leading lessors of net-leased corporate real estate. The largest publicly traded limited liability company in the world, W. P. Carey owns and/or manages more than 450 commercial and industrial properties throughout the United States and Europe comprised of more than 55 million-square-feet of property.

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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