W. P. Carey’s Corporate Property Associates Funds Announce Fourth Quarter 2007 Distributions

December 10, 2007

New York, NY – December 10, 2007 – The Boards of Directors of Corporate Property Associates Corporate Property Associates 16 – Global Incorporated (CPA^®:16 - Global), Corporate Property Associates 15 Incorporated (CPA^®:15) and Corporate Property Associates 14 Incorporated (CPA^®:14) announced today the cash distributions for each company for the fourth quarter of 2007, payable on January 15, 2008 to shareholders of record as of December 31, 2007.

• CPA^®:16 – Global’s cash distribution increased to $0.1632 per share.
• CPA^®:15’s cash distribution increased to $0.1694 per share.  CPA^®:15 will also pay a special cash distribution of $0.08 to shareholders of record as of December 31, 2007, as a result of the sale of two properties.
• CPA^®:14’s cash distribution increased to $0.1949 per share.

CPA^®:16 - Global, CPA^®:15 and CPA^®:14 are members of the W. P. Carey Group, which is one of the largest providers of net lease financing for corporations worldwide. The Group owns more than 850 commercial and industrial properties in 14 countries, representing approximately 100 million square feet, valued at approximately $9.7 billion.  www.wpcarey.com