W. P. Carey & Co. LLC Names Mark Goldberg President of Broker-Dealer Subsidiary

NEW YORK, NY–(EMWNews – August 11, 2008) – Investment firm W. P. Carey & Co. LLC (NYSE: WPC) announced today that Mark M. Goldberg has been appointed President of

Carey Financial, LLC, the company’s broker-dealer subsidiary responsible

for wholesaling its Corporate Property Associates (CPA®) series of

non-traded real estate investment trusts.

Gordon DuGan, Chief Executive Officer and President of W. P. Carey,

commented, “W. P. Carey is committed to developing, enhancing and growing

its sales and marketing organization in a manner that best serves its

existing broker-dealer clients. With more than 20 years of experience in

the financial services industry, Mark brings a wealth of industry knowledge

and contacts that we believe will support this commitment to our existing

clients and also allow us to expand our relationships in the broker-dealer

community.”

Commenting on his appointment, Mr. Goldberg noted, “W. P. Carey’s 35 year

history and cycle-tested investment strategy position the company well in

an environment where investors are looking for portfolio diversification

within the context of defined risk parameters. In addition, W. P. Carey’s

disciplined investment approach and thorough underwriting process has

proven itself by delivering superior returns through all types of market

and economic cycles. Consequently, working with W. P. Carey and their

clients is a great opportunity for me, and I look forward to applying my

own background and expertise in the financial services industry to the

firm’s sales and marketing efforts.”

Prior to joining W. P. Carey, Mr. Goldberg served as CEO and President of

independent broker-dealer AIG-Royal Alliance, Inc. Prior to his

appointment as CEO and President of AIG-Royal Alliance, he held senior

management positions at SunAmerica Financial Network, AIG Securities –

Tokyo, and Royal Alliance Associates, Inc.

Mr. Goldberg is a founding member and former Director of the Financial

Services Institute and a Licensed Securities Principal (Series 24). He

holds a Bachelors degree in Economics from Yeshiva University.

W. P. Carey & Co. LLC

W. P. Carey & Co. LLC provides long-term sale-leaseback and build-to-suit

financing for companies worldwide and manages a global investment portfolio

worth more than $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 release capital

tied up in real estate assets. Now in our 35th year, the W. P. Carey

Group’s real estate holdings are highly diversified, comprised of more than

850 commercial and industrial assets spanning 28 industries and 14

countries. www.wpcarey.com

Individuals interested in receiving future updates on W. P. Carey via

e-mail can register at www.wpcarey.com/alerts.

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.