New York, NY – December 7, 2007 – Investment firm W. P. Carey & Co. LLC (NYSE:WPC) announced today that its Board of Directors has declared two cash distributions.
Quarterly Distribution
The Board increased the Company’s quarterly cash distribution to $0.477 per share for the quarter ending December 31, 2007. W. P. Carey’s distributions have increased every year since 1998, and this quarterly increase is a 4.1% increase over the fourth quarter last year.
Special Distribution
In addition, the Company announced that the Board declared a special distribution of $0.27 per share.
Both distributions are payable on January 15, 2008 to shareholders of record as of December 31, 2007. Commenting on the special distribution, President and CEO Gordon F. DuGan stated, “During the year, we took steps towards developing a more efficient long-term tax structure. Since these steps resulted in increased taxable income to our shareholders in 2007, we feel that a special distribution is appropriate in this instance.”
W. P. Carey & Co. LLC
Founded in 1973, W. P. Carey & Co. LLC is an investment firm that is a leading global provider of long-term net lease financing for companies worldwide. With approximately $9.7 billion in assets and over $5 billion in equity capital, the Company and its CPA® series of income generating real estate funds specialize in helping companies and private equity firms realize the capital tied up in their real estate assets. The W. P. Carey Group owns more than 850 commercial and industrial properties in 14 countries, representing approximately 100 million square feet. www.wpcarey.com
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.
