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W. P. Carey & Co. LLC To Release Fourth Quarter and Full Year 2002 Financial Results of February 26th

Conference Call and Audio Webcast Scheduled For 11:00 AM

February 12, 2003

NEW YORK, NY – February 12, 2003 – Investment firm W. P. Carey & Co. LLC (NYSE:WPC) announced today that it will release its financial results for the fourth quarter and full year 2002 prior to market-open on Wednesday, February 26, 2003. The financial results will be released over First Call, direct fax, electronic mail, W. P. Carey's corporate website and all major wire services.

Conference call and webcast details:

Date: Wednesday, February 26, 2003

Start Time: 11:00 AM (EST)

Call-in Number:  800-915-4836
(International) 973-317-5319

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

Access code: 284561

Webcast:  www.wpcarey.com

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

Format: Discussion of quarterly and full year 2002 financial results followed by Q&A.

Founded in 1973, W. P. Carey & Co. provides financing to companies around the world through the net lease or sale-leaseback financing structure.  The firm and its affiliates continue to be leading lessors of net leased corporate real estate.  W. P. Carey & Co., the largest publicly traded limited liability company, and its four publicly held non-traded real estate investment trusts (REITs), Corporate Property Associates 12 (CPA®:12), CPA®:14, CPA®:15 and Carey Institutional Properties (CIP®), maintain a diversified portfolio that includes more than 500 properties throughout the U.S. and Europe comprised of more than 60 million square feet.  To receive the latest news and corporate developments on W. P. Carey via fax or e-mail at no cost, please call 1-800-WP CAREY and ask for the Corporate Communications Department or send an e-mail to media@wpcarey.com.

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