Walter C. Rakowich

WALTER C. RAKOWICH has served since December 1998 as Managing Director
and Chief Financial Officer of ProLogis, where he is responsible for
worldwide corporate finance, including treasury, cash management,
financial planning, financial reporting, accounting, legal and investor
relations functions. Mr. Rakowich is also a member of the Office of the
Chairman, with responsibility for setting the strategic direction of the
company and monitoring its implementation and progress. Mr. Rakowich has
been with ProLogis in varying capacities since July 1994 (through
September 1997, he was employed by ProLogis’ former management company).
Prior to joining ProLogis, he was a consultant to ProLogis in the area
of due diligence and acquisitions, and he was a Principal with Trammell
Crow Company, a diversified commercial real estate company in North
America. Prior to joining Trammell Crow, Mr. Rakowich was with Price
Waterhouse in Pittsburgh, Pennsylvania, for four years as a Senior Audit
and Tax Consultant. He received his MBA from Harvard University Graduate
School of Business Administration and his BS with distinction, in
Accounting, from Pennsylvania State University.