Wm. Polk Carey, Chairman of W. P. Carey International LLC, Returns to India In Search of Long-Term Financing Opportunities

Pioneer in 25 - 30 Year Financing to Introduce Sale-Leaseback Financing

Of Corporate and Commercial Real Estate to India

Apr 12, 2001, 01:00 ET from W. P. Carey International LLC

    NEW YORK, April 12 /PRNewswire/ -- W. P. Carey International LLC,
 a U.S.-based organization which invests in corporate properties worldwide,
 today announced that its Chairman Wm. Polk Carey will be visiting India in
 search of opportunities to provide long-term financing to Indian businesses.
     In January, Wm. Polk Carey, through the W. P. Carey Foundation, an
 organization he personally funds, made a $1 million contribution to aid in the
 India Earthquake relief effort to both relieve the suffering of victims and to
 encourage other charitable foundations to make similar or larger
 contributions.  In Mr. Carey's opinion, India, as the world's largest
 democracy, is a country with immense potential.  Not only does the country
 have the world's second largest population, but it also has an Anglo-judicial
 system that has been in place since its inception in 1947.  Further, it is his
 opinion that the United States, as the world's oldest and most vocal
 democracy, must make strides to further strengthen its ties to this great
 nation through foreign investment.
     Mr. Carey, who visited India last November, is a pioneer in providing long
 term -- 25-30 year -- financing to growing businesses.  He will be traveling
 throughout the country, primarily to Bombay, New Delhi and other industrial
 cities, to explore opportunities to provide independent financing to Indian
 companies.  Mr. Carey will be the first American financier to offer flexible
 financing solutions to Indian businesses through the sale-leaseback method.
 Mr. Carey plans to introduce the sale-leaseback method of financing, in which
 corporations sell their commercial properties to an outside buyer and lease
 them back over a long-term period, which has been used by both public and
 private U.S. corporations of all sizes to enhance their financial performance
 and growth.
     For more than 25 years, W. P. Carey has structured innovative and flexible
 transactions to meet the particular financing needs of growing companies
 across a broad range of industries.  Securing long term sale-leaseback
 financing frees up cash by monetizing the company's physical assets, which can
 then be redeployed in the company's current operations.  In addition, since
 the sale-leaseback structure is considered off-balance sheet financing in the
 U.S., the company's financial statements are improved by lowering existing
 debt levels, thereby positioning the company for future profitability and
     Traveling with Mr. Carey will be Jan Karst, Director of W. P. Carey
 International LLC.  Mr. Karst began his career at W. P. Carey in 1992 as a
 Senior Analyst and Assistant to the Chairman upon completion of Deutsche
 Bank's Analyst Program in Germany.  He is an alumnus of Germany's University
 of Konstanz and Colorado College, where he received a BA in Economics.  In
 1994, Mr. Karst left W. P. Carey to pursue his Masters of Business
 Administration degree at Duke University's Fuqua School of Business.  After
 receiving his MBA in 1996, Mr. Karst joined Deutsche Bank's Associate Program
 in New York.  As an Assistant Vice President, he covered multi-national
 automotive companies focusing on the development of investment and corporate
 banking business.  With Deutsche Bank's acquisition of BT Alex Brown, he
 joined the telecommunications group and was promoted to Vice President.  In
 2000, Mr. Karst returned to W. P. Carey and is responsible for global business
 development for W. P. Carey International LLC.
     Commenting on the trip, Mr. Karst stated, "The Indian banking industry
 does not allow for loans longer than 7 years on an amortized basis.  We seek
 to provide what we see as a tremendous need for long-term financing for up to
 25-30 years by introducing sale-leaseback financing of corporate and
 commercial real estate across all sectors of India's economy."
     Commenting on the upcoming visit, Mr. Carey stated, "When I visited India
 last November I was most impressed with the entrepreneurial spirit and the
 untapped opportunities to provide long-term financing to Indian businessmen.
 After 25 years of successfully providing flexible financing solutions to
 companies throughout the United States, and more recently Europe, it is my
 intention to be as forthcoming as possible about the potential advantages of
 long-term sale-leaseback and "build-to-suit" financings for Indian
     "Having grown what was a small family business focused on real estate
 finance into a US$3 billion dollar public company and America's premier
 net-lease finance group, the next logical step is to broaden our business
 channels by offering our proven financing methods to companies throughout the
 world.  Over the past few years, we have applied our years of experience in
 recognizing emerging credits and establishing financing facilities for all
 type of companies to successfully expand our scope to the UK and France.  We
 are confident that we can transfer these techniques to India to provide
 funding to less recognized companies where more traditional types of debt and
 equity financing might not be as attractive."
     Mr. Carey continued, "Our firm is looking to invest upwards of
 US$1 billion annually in net lease corporate real estate.  Given the size of
 this mandate, we are looking for investment opportunities worldwide in a wide
 range of property types, including office, manufacturing, warehouse,
 distribution centers, research and development, retail, day care and
 educational facilities, and hotels.  I look forward with great excitement to
 developing opportunities to work with businesses throughout India.  In
 addition, it is my sincere hope that my financing activities will stimulate
 additional foreign investment in India by businesses in other industrialized
 nations.  Historically, India has received a fraction of the foreign
 investment enjoyed by other countries, including China, a country of
 comparable size.  As the world's largest democracy, India should receive far
 more direct investment and I view my upcoming trip as the first step toward
 reconciling the current lack of financial support for this great nation."
     Wm. Polk Carey and Jan Karst will be arriving on Sunday, April 22 and
 spending eleven days in India.  They can be reached via cell phone or e-mail.
 Their contact information is as follows:
      Wm. Polk Carey                          Jan Karst
      Cell phone: USA-917-257-0573            Cell phone: USA-646-732-9161
      NY Tel: USA-212-492-1111                NY Tel: USA-212-492-1120
      NY Fax: USA-212-492-8922                NY Fax: USA-212-492-8922
      e-mail: wpc@wpcarey.com                 e-mail: jfk@wpcareyglobal.com

SOURCE W. P. Carey International LLC