NEW YORK, NY–(EMWNews – July 28, 2008) – Investment firm W. P. Carey & Co. LLC (NYSE: WPC) announced today that CPA®:16 – Global, its publicly held non-traded

REIT affiliate, has provided approximately $18 million in sale-leaseback

financing to The Leipold Group through the acquisition of one U.S. and

three German manufacturing facilities. The three German facilities are

located in Dransfeld, Bünde and Wolfach, which also serves as the company’s

global headquarters. The U.S. facility is located in Windsor, Connecticut.

The Leipold Group manufactures precision parts for the electrical

engineering, mechanical engineering, automotive, telecommunications and

medical technology industries. Leipold’s parts are used in a vast range of

products such as lighting systems, smoke alarms, air conditioning units and

radar systems. Established in 1919, Leipold continues to be a family-owned

business with approximately 650 employees in Europe and the U.S.

“Working with W. P. Carey has been a positive experience for us,” said Dr.

Karl-Heinz Schiefer, President and Chief Executive Officer of Leipold.

“The sale-leaseback transaction with W. P. Carey is providing the necessary

capital for us to pay down a substantial amount of debt and improve our

liquidity. This, in turn, will allow us to further develop our presence in

growing markets, including the fluid and gas technology industry. Our

solid capital structure will be key to our ongoing growth initiatives.”

“Leipold is another prime example of a German ‘mittelstand’ or middle

market company using the sale-leaseback as a form of financing,” said

Edward V. LaPuma, President of W. P. Carey International. “Sale-leaseback

transactions have really taken off in Germany over the past few years,

especially now that traditional sources of financing are becoming more

difficult to find. Leipold is positioned as one of the top precision parts

manufacturers in Europe. With its potential for continuing expansion, the

company represents the type of investment opportunity we look for. We are

thrilled to have worked with Leipold and look forward to having them as a

long-term tenant.”

W. P. Carey also completed two transactions with German companies earlier

this month: a $58 million sale-leaseback with IT distributor Actebis AG and

a $30 million sale-leaseback with reusable plastic packaging product

manufacturer Schoeller Arca Systems.

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.