NEW YORK, NY – October 17, 2001 – W. P. Carey & Co. LLC (NYSE:WPC), a leading real estate investment banking firm and lessor of net leased corporate properties, and its Chairman Wm. Polk Carey, were honored by the Newcomen Society of the United States for its leadership and business success in the corporate real estate financing industry.
John H. Newhall, President and Chief Executive Officer of The Newcomen Society of the United States, said, "We are very proud to recognize and honor W. P. Carey & Co. and its Chairman Bill Carey for its ground breaking success in the corporate real estate financing industry. Through his leadership and business prowess, Bill has created one of the largest net lease firms in the world. The Society honors Bill not only for his business success, but also for his philanthropic and educational contributions, which over the years have helped to change and shape the lives of hundreds of people around the world. We believe Bill is the quintessential business leader and we are pleased to honor him for his all his successes."
Previous Newcomen Society honorees have included: Amgen, Inc., BF Goodrich, Dow Chemical Company, Enron Corporation, GEICO, General Motors, The Gillette Company, Hershey Foods, Kmart Corporation, Merrill Lynch & Co., Pfizer, Pitney Bowes, PricewaterhouseCoopers, RadioShack, TRW Inc. and the Vanguard Group.
W. P. Carey & Co. LLC founder and Chairman Wm. Polk Carey said, "It is a pleasure and an honor to accept this award from the Newcomen Society of the United States. I have always believed in 'doing good, while doing well,' and am pleased that I have been fortunate enough to have accomplished both during my career. While W. P. Carey & Co. has been a leader in the corporate financing industry for almost 30 years we base much of our success on our corporate motto, 'Investing for the Long Run.' This holds true for the properties we purchase, the talented group of men and women who lead our firm, as well as in our philanthropic endeavors. I want to thank the Newcomen Society for this distinguished honor. Through our continued success we hope and expect that our investors, as well as the hundreds of corporations we partner with, will benefit as well."
The Newcomen Society of the United States was founded in 1923 for the study and recognition of achievement in American business and the society it serves, as well as to promote the American free enterprise system. The Newcomen Society enjoys a national membership of close to 4,000 of the country's top leaders in business, academia, government and the military. Honorees are selected from the Society's Board of Trustees based on nominations received from the volunteer committees.
The W. P. Carey Foundation has made significant contributions to a wide variety of causes over the years, most notably, to schools and universities throughout the United States. The Foundation has also responded to disasters around the globe. In the wake of the devastating earthquake in India this past January, the Foundation pledged $1 million for emergency aid and redevelopment of educational institutions. Recently, the Foundation also pledged $1 million following the terrorist attacks on the United States on September 11th.
W. P. Carey & Co. LLC and its affiliates specialize in corporate real estate financing through the corporate net lease, or sale-leaseback structure. The largest publicly traded limited liability company in the world, W. P. Carey was founded in 1973, and owns and manages more than 46 million square feet of property in the United States and Europe. The $3 billion firm is headquartered in Manhattan and has offices in London and Paris. Additional information is available on the firm's website 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.