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Press Release

W. P. Carey Announces £16 Million Sale-Leaseback Transaction With National Express

Company Release - 9/28/2009 9:00 AM ET

NEW YORK, NY -- (MARKET WIRE) -- 09/28/09 -- Investment firm W. P. Carey & Co. LLC (NYSE: WPC) today announced that its publicly-held, non-traded REIT affiliate, CPA®:17 - Global, has entered into a sale-leaseback transaction with UK public transport provider National Express Ltd. (NEL) totaling approximately £16 million ($26 million), including acquisition fees.

The property acquired comprises over 38,000 square feet and will house National Express' main coach terminal. In addition, the office space at the facility -- located in Digbeth, Birmingham, UK -- will serve as NEL's Corporate Headquarters. This facility has been the main hub of National Express' coach service since the Group acquired the site in the 1980s and is strategically important to the operation of the Group's UK business.

The lease will commence following the anticipated completion of the facility in December 2009 and has a term of 25 years.

Jennifer Walsh, Vice President of W. P. Carey International, said:

"We are very pleased to be working with National Express and to have acquired such a unique asset which is critical to the operation of one of its strongest divisions. This transaction further cements our presence in the UK and clearly demonstrates our strategy of helping quality companies unlock the capital in their real estate. In the current economic environment, W. P. Carey continues to actively seek sale-leaseback opportunities that are consistent with our defensive, risk management-driven investment strategy and adhere to our philosophy of investing for the long run."

About W. P. Carey & Co. LLC:

W. P. Carey & Co. LLC (NYSE: WPC) is an investment management company that provides long-term sale-leaseback and build-to-suit financing for companies worldwide and manages a global investment portfolio approaching $10 billion. Publicly traded on the New York Stock Exchange (WPC), W. P. Carey and its CPA® series of income-generating, non-traded REITs help companies and private equity firms unlock capital tied up in real estate assets. The W. P. Carey Group's investments are highly diversified, comprising contractual agreements with approximately 300 long-term corporate obligors spanning 28 industries and 15 countries. In March 2009, W. P. Carey closed a $225 million transaction with The New York Times Company's New York-based Headquarters.


About National Express Ltd:

National Express Limited operates the only national, scheduled coach service in the United Kingdom, serving approximately 1,700 destinations. The Company provides a large, integrated network of scheduled services based around nine hubs (London, Birmingham, Manchester, Leeds, Bristol, Heathrow, Gatwick, Stansted and Glasgow). The office space at the Facility will serve as the new headquarters for NEL.

National Express Group PLC is the parent of National Express Limited.


This press release contains forward-looking statements within the meaning of the Federal securities laws. A number of factors could cause W. P. Carey'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.

For W. P. Carey & Co. LLC:
Guy Lawrence
Ross & Lawrence
Email Contact

Kristina McMenamin
Email Contact

Daniel de Belder/Rosanne Perry
Bell Pottinger
00 44 207 861 3232
Email Contact

This press release can be downloaded from www.wpcarey.com


Investor Contacts

Institutional Investors

Peter Sands
Director of Institutional IR
W. P. Carey Inc.
1 (212) 492-1110

Capital Markets

Jeremiah Gregory
Head of Capital Markets
W. P. Carey Inc.
1 (212) 492-1135

Individual Investors

Investor Relations Department
1 (800) WP CAREY (972-2739)

Transfer Agent

W. P. Carey Inc.
Shareowner Services
PO Box 505000
Louisville, KY 40233-5000
1 (888) 200-8690

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