CenterPoint Properties Announces Extension of the Consent Date and Modification of Consent Solicitations.

OAK BROOK, Ill. -- CenterPoint Properties Trust announced today that it has increased the Consent Amount payable to holders who deliver valid consents by the Consent Date (but do not tender their Notes pursuant to the Tender Offers), extended the Consent Date for the previously announced Consent Solicitations for certain amendments (the "Amendments") relating to the indentures governing its outstanding $450 million of senior unsecured notes (the "Notes") and amended the Amendments as described in the Offer to Purchase and Consent Solicitation Statement dated March 23, 2006. The Consent Date was previously 5:00 p.m., New York City time, on April 10, 2006. The Consent Date has been extended to 5:00 p.m., New York City time, on April 17, 2006, unless earlier terminated or extended (such date and time, as the same may be extended, the "Consent Date"). Holders who validly tender their Notes by the new Consent Date will be eligible to receive the Total Consideration. Holders who deliver valid consents, without tendering the related Notes, on or prior to the Consent Date will be eligible to receive the new Consent Amount of $6.25 per $1,000 principal amount of the related Notes. In accordance with the terms of the Tender Offers as previously announced, holders who validly tender their Notes after the Consent Date, and on or prior to midnight, New York City time, on April 20, 2006 (the "Expiration Date"), will continue to be eligible to receive the Total Consideration less $2.50 per $1,000 principal amount of the Notes (the amount of the old Consent Amount). The terms and conditions of the Consent Solicitations and Tender Offers, including the detailed methodology for calculating the Total Consideration for the Notes, is outlined in the Offer to Purchase.

The "Settlement Date" for holders who validly submit their consents or tender their Notes will be three business days following the Expiration Date. Notes validly tendered and not withdrawn prior to the Expiration Date will have a Settlement Date of April 25, 2006, assuming the Expiration Date is not extended.

The Amendments described in the Offer to Purchase will be amended to provide that CenterPoint will deliver, together with the financial statements described in the Amendments, an officers' certificate certifying as to CenterPoint's compliance with the conditions and covenants of the indentures as of the end of the period covered by the related financial statements. CenterPoint is not seeking amendments to debt incurrence covenants contained in the indentures, which will remain unchanged following the completion of the Consent Solicitations.

JPMorgan is the sole Dealer Manager for the tender offer and the consent solicitations and can be contacted at [phone] (toll free). Global Bondholder Services Corp. is the Information Agent and the Depositary for the tender offers and the consent solicitations and can be contacted at [phone] (collect) or toll free at [phone].

About CenterPoint Properties Trust

CenterPoint is the largest industrial property company in the 1.4-billion-square-foot Chicago regional market. As of December 31, 2005, the Company and its affiliates owned approximately 45 million square feet and 3,009 acres of land upon which 43 million square feet could be developed. The Company is focused on providing unsurpassed tenant satisfaction and adding value to its shareholders through customer driven management, investment, development and redevelopment of warehouse, distribution, light manufacturing buildings and logistics infrastructure.

Certain matters discussed in this press release are forward-looking statements within the meaning of Federal securities laws. There can be no assurance that future results will be achieved and actual results could differ materially from forecasts and estimates. Forward-looking statements in this press release include, without limitation, statements relating to the anticipated closing date of the transaction, and the possibility that any of the conditions to closing, including those outside the control of CenterPoint, will be satisfied. CenterPoint does not assure the future results or outcome of the matters described in forward-looking statements; rather, these statements merely reflect current expectations of the approximate outcomes of the matters discussed. Forward-looking statements involve known and unknown risks, uncertainties and other factors, some of which are beyond CenterPoint's control. The reader is cautioned to make his/her own judgment with regard to the statements discussed in this press release and the assumptions noted by CenterPoint herein.

Many factors may cause actual results to differ materially from the anticipated future results or performance expressed or implied by these forward-looking statements. Certain factors that could cause actual results to differ materially are general business and economic conditions, completion of pending acquisitions and dispositions, competitive market conditions, weather, pricing of debt and equity capital markets and other risks inherent in the real estate business. Such factors and others are listed in the Company's Form 10-K and 10-Qs.