W.P. Carey appoints Thomas E. Zacharias COO.

W. P. Carey & Co. LLC announced the appointment of Thomas E. Zacharias as Chief Operating Officer.

In this capacity Mr. Zacharias will be responsible for overseeing the internal operations of the Company and will report directly to W. P. Carey's Chief Executive Officer Gordon F. DuGan.

Mr. Zacharias will continue to serve as Managing Director and Head of W. P. Carey's Asset Management Department and as President of Corporate Property Associates 16--Global (CPA[R]:16--Global), an affiliated income generating, publicly held, non-traded real estate investment trust (REIT) managed by W. R Carey. Gordon F. DuGan, W. P. Carey's CEO, said, "W. P. Carey has experienced significant growth over the past five years, both in terms of its assets under management and in its investor base. As a result, we are becoming an increasingly large and complex company with the attendant needs of such a company.

"Tom is extremely qualified and I can think of no better person to serve as our COO."

Zacharias joined W. P. Carey in April 2002 as Managing Director and Head of the company's Asset Management Department. In February 2004, he was appointed President of CPA[R]:16--Global. Prior to W. P. Carey he was a Senior Vice President of MetroNexus North America, a Morgan Stanley Real Estate Funds Enterprise. Before joining MetroNexus in 2000, Mr. Zacharias was a Principal at Lend Lease Development U.S., a global real estate investment management, property development and construction management company. From 1981 and 1998, he was a senior officer at Corporate Property Investors, which at the time of its merger into Simon Property Group in 1998, was the largest private equity real estate investment trust.

Mr. Zacharias received his undergraduate degree, magna cum laude, from Princeton University in 1976 and an MBA from Yale School of Management in 1979.