W. P. Carey & Co. LLC Announces CPA(R) Programs' Estimated Net Asset Values

Market Wire, March, 2008

Investment firm W. P. Carey & Co. LLC (NYSE: WPC) announced today the per share estimated Net Asset Values ("NAVs") for its CPA series of non-traded real estate investment trusts ("REITs") as of December 31, 2007:

                Year-End 2007
Program           NAV/Share       NAV Change %     2007 Total Return*
CPA®:14            $14.50            9.8%                15.7%
CPA®:15            $12.20            7.0%                13.6%
CPA®:16 - Global   $10.00            N/A                  6.5%

*Total return = ((distributions + NAV change)/previous estimated NAV)

These programs were originally offered at $10 per share. Starting as of March 2008, the year-end 2007 estimated NAVs will be used to calculate redemption proceeds and the prices at which shares are issued pursuant to each REIT's distribution reinvestment plan. For additional information regarding the calculation of the estimated NAVs, please see the Form 8-K filed for CPA:15 on March 4, 2008 and those filed for CPA:14 and CPA:16 - Global on March 10, 2008.

Commenting on the valuations, W. P. Carey President and CEO Gordon DuGan stated, "We are very pleased with the strong and steady performance of our diversified net lease funds for 2007. Factors that contributed to our growth in NAVs in 2007 included the benefit of investing a high portion of the funds in non-dollar denominated assets, higher rents in 2007 due to annual CPI lease indexing and amortization of the mortgage debt from the lease payments.

"We believe that our cycle-tested investment strategy is designed to perform through various phases of the economic cycle. We will keep a close watch on all of our investments as we manage through this challenging credit market. Lastly, we continue to utilize the principals of diversification and property-level financing for each of our investment portfolios in an attempt to provide investors with these steady returns."

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 24 industries and 14 countries. www.wpcarey.com

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.

COMPANY CONTACT: Susan C. Hyde W. P. Carey & Co. LLC 212-492-1151 Email Contact PRESS CONTACT: Guy Lawrence Ross & Lawrence 212-308-3333 Email Contact