NET ASSET VALUE (NAV)
CPA®:14's NAV as of December 31, 2007 is $14.50 per share. NAVs for the CPA® REITs are based on appraisals conducted by an independent third party.  For further information regarding the calculation of NAVs, please review the Complete Form 8-K issued on March 10, 2008.

DISTRIBUTION YIELDS
Below is the distribution information for CPA®:14. Distribution yields from 6/30/98 through 6/30/06 are based upon a $10.00 per share purchase price. As of 9/30/06, yields are based on a $9.55 per share investment value after adjusting for the $.45 per share special distribution paid on 7/14/06.

RECORD DATE DISTRIBUTION (per share) ANNUALIZED YIELD DATE ISSUED 3/31/08 $0.19540 8.18% 4/15/08 12/31/07 $0.19490 8.16% 1/15/08 9/30/07 $0.19440 8.14% 10/15/07 6/29/07 $0.19390 8.12% 7/16/07 3/31/07 $0.19340 8.10% 4/16/07 12/31/06 $0.19290 8.08% 1/15/07 9/30/06 $0.19290 8.08% 10/13/06 6/30/06 $0.19290 7.72% 7/14/06 3/31/06 $0.19240 7.70% 4/13/06 12/31/05 $0.19190 7.68% 1/13/06 9/30/05 $0.19140 7.66% 10/15/05 6/30/05 $0.19090 7.63% 7/15/05 3/31/05 $0.19040 7.62% 4/15/05 12/31/04 $0.19020 7.61% 1/15/05 9/30/04 $0.18990 7.60% 10/15/04 6/30/04 $0.18970 7.59% 7/15/04 3/31/04 $0.18940 7.58% 4/15/04 12/31/03 $0.18920 7.57% 1/15/04 9/30/03 $0.18890 7.56% 10/15/03 6/30/03 $0.18870 7.55% 7/15/03 3/31/03 $0.18840 7.54% 4/15/03 12/31/02 $0.18820 7.528% 1/15/03 9/30/02 $0.18790 7.516% 10/15/02 6/30/02 $0.18770 7.51% 7/15/02 3/31/02 $0.18750 7.50% 4/15/02 12/31/01 $0.18630 7.45% 1/15/02 9/30/01 $0.18250 7.30% 10/15/01 6/30/01 $0.17800 7.15% 7/13/01 3/31/01 $0.17500 7.00% 4/12/01 12/31/00 $0.17150 6.85% 2/15/01 9/29/00 $0.16750 6.70% 10/15/00 6/30/00 $0.16500 6.60% 7/15/00 3/31/00 $0.16380 6.55% 4/15/00 12/31/99 $0.16310 6.52% 1/15/00 9/30/99 $0.16290 6.52% 10/15/99 6/29/99 $0.16270 6.51% 7/16/99 3/31/99 $0.16250 6.50% 4/15/99 12/31/98 $0.16100 6.44% 1/15/99 9/30/98 $0.15950 6.38% 10/15/98 6/30/98 $0.15800 6.32% 7/15/98

Any inquiries regarding distribution payments should be directed to:

Phoenix American Financial Services (PAFS)
1-888-241-3737 
https://wpc.phxa.com

Shareholders may also contact CPA®:14's Investor Relations Department at:

CPA®:14 Investor Relations Department
50 Rockefeller Plaza
New York, NY 10020
1-800-WP CAREY [972-2739]
CPA14@wpcarey.com