-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, KSkNBB//O+5sSq5EKHIBg9KYDQA1ePXMa+11Qj6gpdJL3utw1hzFQDREI96+Mlk1 LiEfnWMHRlzG65l2UHq3Xw== 0000909518-02-000335.txt : 20020430 0000909518-02-000335.hdr.sgml : 20020430 ACCESSION NUMBER: 0000909518-02-000335 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 20020430 GROUP MEMBERS: EB ACQUISITION CORP GROUP MEMBERS: GE CAPITAL SERVICES INC. GROUP MEMBERS: GEC INTL. HOLDINGS CORP. GROUP MEMBERS: GENERAL ELECTRIC COMPANY SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PROLOGIS TRUST CENTRAL INDEX KEY: 0000899881 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 742604728 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-45898 FILM NUMBER: 02625824 BUSINESS ADDRESS: STREET 1: 14100 EAST 35TH PLACE CITY: AURORA STATE: CO ZIP: 80011 BUSINESS PHONE: 3033759292 MAIL ADDRESS: STREET 1: 14100 EAST 35TH PLACE CITY: AURORA STATE: CO ZIP: 80011 FORMER COMPANY: FORMER CONFORMED NAME: SECURITY CAPITAL INDUSTRIAL TRUST DATE OF NAME CHANGE: 19931228 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: GENERAL ELECTRIC CAPITAL CORP CENTRAL INDEX KEY: 0000040554 STANDARD INDUSTRIAL CLASSIFICATION: PERSONAL CREDIT INSTITUTIONS [6141] IRS NUMBER: 131500700 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 260 LONG RIDGE RD CITY: STAMFORD STATE: CT ZIP: 06927 BUSINESS PHONE: 2033574000 MAIL ADDRESS: STREET 1: 260 LONG RIDGE ROAD CITY: STAMFORD STATE: CT ZIP: 06927 FORMER COMPANY: FORMER CONFORMED NAME: GENERAL ELECTRIC CREDIT CORP DATE OF NAME CHANGE: 19871216 SC 13D/A 1 plt-a2.txt ================================================================================ SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 2) --------------------------- PROLOGIS TRUST (Name of Issuer) COMMON SHARES OF BENEFICIAL INTEREST, PAR VALUE $0.01 PER SHARE (INCLUDING THE RELATED PREFERRED SHARE PURCHASE RIGHTS) 743410 10 2 (Title of class of securities) (CUSIP number) NANCY E. BARTON, ESQ. GENERAL ELECTRIC CAPITAL CORPORATION 260 LONG RIDGE ROAD STAMFORD, CONNECTICUT 06927 (203) 357-4000 (Name, address and telephone number of person authorized to receive notices and communications) WITH A COPY TO: RAYMOND O. GIETZ, ESQ. WEIL, GOTSHAL & MANGES LLP 767 FIFTH AVENUE NEW YORK, NEW YORK 10153 APRIL 29, 2002 (Date of event which requires filing of this statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box [ ]. Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7(b) for other parties to whom copies are to be sent. * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934 (the "Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act. (However, see the Notes.) (Continued on following pages) (Page 1 of 14 pages) ================================================================================ NY2:\1146213\03\_KF903!.DOC\47660.2082
- --------------------------------- ---------------------------------------------- --------------------------------- CUSIP number 743410 10 2 13D Page 2 of 14 Pages - --------------------------------- ---------------------------------------------- --------------------------------- - ------------- --------------------------------------------------------- ---------------------------------------------------------- 1 NAME OF REPORTING PERSON: EB ACQUISITION CORP. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: - ------------- -------------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [ ] (B) [ ] - ------------- -------------------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------- ----------------------------------- -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: NOT APPLICABLE - ------------- -------------------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_] - ------------- --------------------------------------------------------- ---------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION: MARYLAND - ------------------------ -------- ----------------------------------------------------- ------------------------------------------ NUMBER OF 7 SOLE VOTING POWER: SHARES -------- ----------------------------------------------------- ------------------------------------------ BENEFICIALLY 8 SHARED VOTING POWER: 49,903,814 SHARES OF COMMON STOCK OWNED BY (SEE ITEMS 2 AND 5) -------- ----------------------------------------------------- ------------------------------------------ EACH 9 SOLE DISPOSITIVE POWER: REPORTING -------- ----------------------------------------------------- ------------------------------------------ PERSON WITH 10 SHARED DISPOSITIVE POWER: 49,903,814 SHARES OF COMMON STOCK (SEE ITEMS 2 AND 5) - ------------- ------------------------------------------------------------------------- ------------------------------------------ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 49,903,814 SHARES OF COMMON STOCK (SEE ITEMS 2 AND 5) - ------------- -------------------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_] - ------------- -------------------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 28.6% (SEE ITEMS 2 AND 5) - ------------- --------------------------------------------------------- ---------------------------------------------------------- 14 TYPE OF REPORTING PERSON: CO - ------------- --------------------------------------------------------- ---------------------------------------------------------- 2 - --------------------------------- ---------------------------------------------- --------------------------------- CUSIP number 743410 10 2 13D Page 3 of 14 Pages - --------------------------------- ---------------------------------------------- --------------------------------- - ------------- --------------------------------------------------------- ---------------------------------------------------------- 1 NAME OF REPORTING PERSON: GE CAPITAL INTERNATIONAL HOLDINGS CORPORATION S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: - ------------- -------------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [ ] (B) [ ] - ------------- -------------------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------- ----------------------------------- -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: NOT APPLICABLE - ------------- -------------------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_] - ------------- --------------------------------------------------------- ---------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION: DELAWARE - ------------------------ -------- ----------------------------------------------------- ------------------------------------------ NUMBER OF 7 SOLE VOTING POWER: SHARES -------- ----------------------------------------------------- ------------------------------------------ BENEFICIALLY 8 SHARED VOTING POWER: 49,903,814 SHARES OF COMMON STOCK OWNED BY (SEE ITEMS 2 AND 5) -------- ----------------------------------------------------- ------------------------------------------ EACH 9 SOLE DISPOSITIVE POWER: REPORTING -------- ----------------------------------------------------- ------------------------------------------ PERSON WITH 10 SHARED DISPOSITIVE POWER: 49,903,814 SHARES OF COMMON STOCK (SEE ITEMS 2 AND 5) - ------------- ------------------------------------------------------------------------- ------------------------------------------ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 49,903,814 SHARES OF COMMON STOCK (SEE ITEMS 2 AND 5) - ------------- -------------------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_] - ------------- -------------------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 28.6% (SEE ITEMS 2 AND 5) - ------------- --------------------------------------------------------- ---------------------------------------------------------- 14 TYPE OF REPORTING PERSON: CO - ------------- --------------------------------------------------------- ---------------------------------------------------------- 3 - --------------------------------- ---------------------------------------------- --------------------------------- CUSIP number 743410 10 2 13D Page 4 of 14 Pages - --------------------------------- ---------------------------------------------- --------------------------------- - ------------- --------------------------------------------------------- ---------------------------------------------------------- 1 NAMES OF REPORTING PERSONS: GENERAL ELECTRIC CAPITAL CORPORATION I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS: - ------------- -------------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [ ] (B) [ ] - ------------- -------------------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------- ----------------------------------- -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: NOT APPLICABLE - ------------- -------------------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_] - ------------- --------------------------------------------------------- ---------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION: DELAWARE - ------------------------ -------- ----------------------------------------------------- ------------------------------------------ NUMBER OF 7 SOLE VOTING POWER: SHARES -------- ----------------------------------------------------- ------------------------------------------ BENEFICIALLY 8 SHARED VOTING POWER: 49,903,814 SHARES OF COMMON STOCK OWNED BY (SEE ITEMS 2 AND 5) -------- ----------------------------------------------------- ------------------------------------------ EACH 9 SOLE DISPOSITIVE POWER: REPORTING -------- ----------------------------------------------------- ------------------------------------------ PERSON WITH 10 SHARED DISPOSITIVE POWER: 49,903,814 SHARES OF COMMON STOCK (SEE ITEMS 2 AND 5) - ------------- ------------------------------------------------------------------------- ------------------------------------------ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 49,903,814 SHARES OF COMMON STOCK (SEE ITEMS 2 AND 5) - ------------- -------------------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ] - ------------- -------------------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 28.6% (SEE ITEMS 2 AND 5) - ------------- --------------------------------------------------------- ---------------------------------------------------------- 14 TYPE OF REPORTING PERSON: CO - ------------- --------------------------------------------------------- ---------------------------------------------------------- 4 - --------------------------------- ---------------------------------------------- --------------------------------- CUSIP number 743410 10 2 13D Page 5 of 14 Pages - --------------------------------- ---------------------------------------------- --------------------------------- - ------------- --------------------------------------------------------- ---------------------------------------------------------- 1 NAMES OF REPORTING PERSONS: GENERAL ELECTRIC CAPITAL SERVICES, INC. I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS: - ------------- -------------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [ ] (B) [ ] - ------------- -------------------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------- ----------------------------------- -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: NOT APPLICABLE - ------------- -------------------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_] - ------------- --------------------------------------------------------- ---------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION: DELAWARE - ------------------------ -------- ----------------------------------------------------- ------------------------------------------ NUMBER OF 7 SOLE VOTING POWER: 0 SHARES -------- ----------------------------------------------------- ------------------------------------------ BENEFICIALLY 8 SHARED VOTING POWER: DISCLAIMED (SEE 11 BELOW) OWNED BY -------- ----------------------------------------------------- ------------------------------------------ EACH 9 SOLE DISPOSITIVE POWER: 0 REPORTING -------- ----------------------------------------------------- ------------------------------------------ PERSON WITH 10 SHARED DISPOSITIVE POWER: DISCLAIMED (SEE 11 BELOW) - ------------- ------------------------------------------------------------------------- ------------------------------------------ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: BENEFICIAL OWNERSHIP OF ALL SHARES DISCLAIMED BY GENERAL ELECTRIC CAPITAL SERVICES, INC. - ------------- -------------------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ] - ------------- -------------------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): NOT APPLICABLE (SEE 11 ABOVE) - ------------- --------------------------------------------------------- ---------------------------------------------------------- 14 TYPE OF REPORTING PERSON: CO - ------------- --------------------------------------------------------- ---------------------------------------------------------- 5 - --------------------------------- ---------------------------------------------- --------------------------------- CUSIP number 743410 10 2 13D Page 6 of 14 Pages - --------------------------------- ---------------------------------------------- --------------------------------- - ------------- --------------------------------------------------------- ---------------------------------------------------------- 1 NAMES OF REPORTING PERSONS: GENERAL ELECTRIC COMPANY I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS: - ------------- -------------------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [ ] (B) [ ] - ------------- -------------------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------- ----------------------------------- -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: NOT APPLICABLE - ------------- -------------------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_] - ------------- --------------------------------------------------------- ---------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION: NEW YORK - ------------------------ -------- ----------------------------------------------------- ------------------------------------------ NUMBER OF 7 SOLE VOTING POWER: 0 SHARES -------- ----------------------------------------------------- ------------------------------------------ BENEFICIALLY 8 SHARED VOTING POWER: DISCLAIMED (SEE 11 BELOW) OWNED BY -------- ----------------------------------------------------- ------------------------------------------ EACH 9 SOLE DISPOSITIVE POWER: 0 REPORTING -------- ----------------------------------------------------- ------------------------------------------ PERSON WITH 10 SHARED DISPOSITIVE POWER: DISCLAIMED (SEE 11 BELOW) - ------------- ------------------------------------------------------------------------- ------------------------------------------ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: BENEFICIAL OWNERSHIP OF ALL SHARES DISCLAIMED BY GENERAL ELECTRIC COMPANY - ------------- -------------------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ] - ------------- -------------------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): NOT APPLICABLE (SEE 11 ABOVE) - ------------- --------------------------------------------------------- ---------------------------------------------------------- 14 TYPE OF REPORTING PERSON: CO - ------------- --------------------------------------------------------- ----------------------------------------------------------
6 This Amendment No. 2 ("Amendment No. 2") amends the Statement on Schedule 13D filed on December 26, 2001, as amended by Amendment No. 1 filed on March 11, 2002, by and on behalf of General Electric Capital Corporation, a Delaware corporation ("GE Capital"), EB Acquisition Corp., a Maryland corporation ("EB"), GE Capital International Holdings Corporation, a Delaware corporation ("GE Holdings"), General Electric Capital Services, Inc., a Delaware corporation ("GECS"), and General Electric Company, a New York corporation ("GE", and collectively with GE Capital, EB, GE Holdings, and GECS, the "Reporting Persons"), with respect to their ownership of Common Shares of Beneficial Interest, par value $0.01 per share (the "Common Stock"), of ProLogis Trust (the "Company"). Capitalized terms used herein and not defined herein have the meanings ascribed thereto in the Schedule 13D, as amended. ITEM 4. PURPOSE OF TRANSACTION. On December 14, 2001, Security Capital, GE Capital, and EB entered into the Merger Agreement, a copy of which is attached as Exhibit 1 to the Schedule 13D, and is hereby incorporated by reference. Pursuant to the Merger Agreement and subject to the terms and conditions contained therein, EB will merge with and into Security Capital (the "Merger"), with Security Capital continuing as the surviving corporation. As a result of the Merger, Security Capital will become an indirect wholly owned subsidiary of GE Capital. On April 29, 2002, GE Capital and Security Capital issued a joint press release announcing that GE Capital, pursuant to Section 2.6(a) of the Merger Agreement, has elected (the "Stock Election") to make shares of the Common Stock owned by Security Capital a part of the Merger Consideration. A copy of the letter, dated April 29, 2002, from GE Capital to Security Capital notifying Security Capital of the Stock Election is attached hereto as Exhibit 3 and is incorporated herein by reference. A copy of the press release is attached hereto as Exhibit 4 and is incorporated herein by reference. Except as set forth above, the response of the Reporting Persons to this Item 4 as previously disclosed in the Schedule 13D has not changed. The description of the Merger Agreement set forth in this Amendment No. 2 is qualified in its entirety by reference to such agreement, which is attached as Exhibit No. 1 to the Schedule 13D and is hereby incorporated herein by reference. ITEM 7. MATERIAL TO BE FILED AS EXHIBITS. Exhibit 3 Letter, dated April 29, 2002, from GE Capital to Security Capital notifying Security Capital of the Stock Election. Exhibit 4 Press Release, dated April 29, 2002, issued by GE Capital and Security Capital. [The remainder of this page intentionally left blank.] 7 SIGNATURES After reasonable inquiry and to the best of their knowledge and belief, the undersigned certify that the information set forth in this statement is true, complete and correct. Dated: April 30, 2002 GENERAL ELECTRIC COMPANY* By: /s/ Nancy E. Barton ----------------------------------------------- Name: Nancy E. Barton Title: Attorney-in-Fact GENERAL ELECTRIC CAPITAL SERVICES, INC. By: /s/ Nancy E. Barton ----------------------------------------------- Name: Nancy E. Barton Title: Senior Vice President GENERAL ELECTRIC CAPITAL CORPORATION By: /s/ Nancy E. Barton ----------------------------------------------- Name: Nancy E. Barton Title: Senior Vice President GE CAPITAL INTERNATIONAL HOLDINGS CORPORATION By: /s/ Sarah Graber ----------------------------------------------- Name: Sarah Graber Title: Vice President and Assistant Secretary EB ACQUISITION CORP. By: /s/ Kevin Korsh ----------------------------------------------- Name: Kevin Korsh Title: Assistant Secretary - ----------------------- * Power of attorney, dated as of February 22, 2000, by General Electric Company is hereby incorporated by reference to Schedule 13D for Luxtec Corporation, filed March 12, 2001 by GE Capital Equity Investments, Inc. 8 EXHIBIT INDEX Exhibit No. Description - ----------- ----------- 3 Letter, dated April 29, 2002, from GE Capital to Security Capital notifying Security Capital of the Stock Election. 4 Press Release, dated April 29, 2002, issued by GE Capital and Security Capital. 9 EX-99 3 pa2-exn.txt EXHIBIT 3 --------- GE CAPITAL REAL ESTATE 292 LONG RIDGE ROAD STAMFORD, CT 06927 April 29, 2002 Security Capital Group Incorporated 125 Lincoln Avenue Santa Fe, New Mexico 87501 Attention: Jeffrey A. Klopf, Esq. Re: ProLogis Trust ("ProLogis") Stock Election Dear Mr. Klopf: Reference hereby is made to the Agreement and Plan of Merger, dated as of December 14, 2001 (the "Merger Agreement"), by and among Security Capital Group Incorporated, a Maryland corporation ("Security Capital"), General Electric Capital Corporation, a Delaware corporation ("GE Capital"), and EB Acquisition Corp., a Maryland corporation and indirect wholly owned subsidiary of GE Capital ("Merger Sub"). Capitalized terms used and not defined herein shall have the meanings set forth in the Merger Agreement. Pursuant to Section 2.6 (a) of the Merger Agreement, GE Capital hereby elects the Stock Election and designates an aggregate of 39,121,830 shares of the ProLogis Common Stock owned by Security Capital as the total number of shares of ProLogis Common Stock to be a part of the Merger Consideration. Pursuant to such election, the Class B Stock Consideration shall be equal to 0.23015373 shares of ProLogis Common Stock (derived by multiplying 39,121,830 shares of ProLogis Common Stock by 0.0000000058830, the Class B Per Share Factor). The aggregate number of shares of ProLogis Common Stock to be distributed by Security Capital at the Effective Time pursuant to the Stock Election described above will be based on the actual number of Shares of Security Capital outstanding at such time. Based on the current number of outstanding Shares of Security Capital, GE Capital's Stock Election will result in Security Capital retaining approximately 9.8% of the outstanding shares of ProLogis Common Stock following the Merger. In accordance with Section 2.6 (c) of the Merger Agreement, GE Capital hereby reserves its right to revoke the Stock Election at any time on or before May 4, 2002. [Signatures to appear on following page] 10 Please acknowledge your agreement with the foregoing by signing where indicated below and returning by facsimile a copy to my attention at (203) 357-6768. Sincerely, GENERAL ELECTRIC CAPITAL CORPORATION By: /s/ Alec Burger -------------------------------------- Name: Alec Burger Title: Senior Vice President - Business Development Acknowledged and agreed to: SECURITY CAPITAL GROUP INCORPORATED By: /s/ Jeffrey A. Klopf -------------------------------------- Name: Jeffrey A. Klopf Title: Senior Vice President cc: Adam Emmerich, Esq. Wachtell, Lipton, Rosen & Katz 51 West 52nd Street New York, New York 10019 11 EX-99 4 pa2-ex3.txt 4 EXHIBIT 4 --------- FOR IMMEDIATE RELEASE - --------------------- GE CAPITAL ELECTS PARTIAL DISTRIBUTION OF PROLOGIS STOCK AS MERGER CONSIDERATION IN SECURITY CAPITAL ACQUISITION Stamford, Conn. and Chicago, Ill., April 29, 2002 - GE Capital, through its Commercial Real Estate business, and Security Capital Group Incorporated (NYSE: SCZ) announced today that GE Capital has elected to include common shares of ProLogis Trust (NYSE: PLD) in the consideration to be received by Security Capital stockholders in GE Capital's pending acquisition of Security Capital. GE Capital has the sole discretion to revoke its election on or prior to May 4, 2002. GE Capital's election means that, if the merger is completed, Security Capital stockholders will be entitled to receive cash and 0.23015373 ProLogis common shares for each share of class B stock of Security Capital they hold, such that the agreed aggregate value of the consideration will equal $26.00. The ProLogis common shares will be valued for these purposes based on the average of the daily closing prices for the ProLogis common shares reported on the NYSE for the ten trading day period beginning on April 26, 2002 and ending on May 9, 2002. Each share of Security Capital class A common stock will receive 50 times the per share class B consideration. Cash will be paid in lieu of fractional shares. The exact amount of cash to be received by Security Capital stockholders will be announced in a press release promptly following the end of the measurement period. The aggregate number of ProLogis common shares to be distributed by Security Capital at the effective time of the merger pursuant to GE Capital's stock election will be based on the actual number of shares of common stock of Security Capital outstanding at such time. Based on the current number of outstanding shares of Security Capital common stock, GE Capital's election will 12 result in Security Capital retaining approximately 9.8% of the outstanding ProLogis common shares following the merger. GE Capital Real Estate (www.gecapitalrealestate.com), headquartered in Stamford, Conn., is one of the industry's most diverse global resources for commercial real estate capital, with a portfolio of over $24 billion, through its structured finance, equity, and capital markets products. GE Capital, with assets of US$425 billion, is a global, diversified financial services company grouped into six key operating segments comprised of 25 businesses. A wholly-owned subsidiary of General Electric Company, GE Capital, based in Stamford, Connecticut, provides a variety of consumer services, such as credit cards and life and auto insurance; mid-market financing; specialized financing; specialty insurance; equipment management, and specialized services, to businesses and individuals in 45 countries around the world. GE is a diversified services, technology and manufacturing company with operations worldwide. Security Capital is an international real estate operating company. The principal offices of Security Capital and its majority-owned affiliates are in Brussels, Chicago, El Paso, Houston, London, Luxembourg, New York, and Santa Fe. # # # FOR MORE INFORMATION CONTACT: Marissa Moretti, GE Capital, 203-961-2290 Frances W. Josephic, Security Capital, (800) 988-4304 13 ADDITIONAL INFORMATION AND WHERE TO FIND IT SECURITY CAPITAL HAS FILED WITH THE SEC AND MAILED TO ITS STOCKHOLDERS A PROXY STATEMENT/PROSPECTUS CONTAINING INFORMATION ABOUT THE PROPOSED TRANSACTION INCLUDING A PROSPECTUS FOR THE PROLOGIS COMMON SHARES TO BE RECEIVED AS A PART OF THE MERGER CONSIDERATION. INVESTORS AND SECURITYHOLDERS OF SECURITY CAPITAL ARE ADVISED TO READ THE PROXY STATEMENT CAREFULLY BECAUSE IT CONTAINS IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION, THE PERSONS SOLICITING PROXIES RELATED THERETO, THEIR INTERESTS IN THE PROPOSED TRANSACTION, AND RELATED MATTERS. INVESTORS CAN OBTAIN SECURITY CAPITAL'S PROXY STATEMENT AND OTHER RELEVANT DOCUMENTS, INCLUDING INFORMATION CONCERNING THE PARTICIPANTS, AT NO CHARGE ON THE SEC'S WEBSITE AT HTTP:\\WWW.SEC.GOV. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY ANY SHARES OF PROLOGIS. ANY SUCH OFFER OR SALE WILL BE MADE ONLY PURSUANT TO THE PROSPECTUS RELATING TO THE PROLOGIS COMMON SHARES. INVESTORS ARE URGED TO READ THE PROSPECTUS CAREFULLY AND CAN OBTAIN PROLOGIS' PROSPECTUS AND OTHER RELEVANT DOCUMENTS AT NO CHARGE ON THE SEC'S WEBSITE AT HTTP:\\WWW.SEC.GOV. CAUTION CONCERNING FORWARD-LOOKING STATEMENTS: THIS DOCUMENT INCLUDES CERTAIN "FORWARD-LOOKING STATEMENTS" WITHIN THE MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. THESE STATEMENTS ARE BASED ON MANAGEMENT'S CURRENT EXPECTATIONS AND ARE SUBJECT TO UNCERTAINTY AND CHANGES IN CIRCUMSTANCES. ACTUAL RESULTS MAY DIFFER MATERIALLY FROM THESE EXPECTATIONS DUE TO CHANGES IN GLOBAL ECONOMIC, BUSINESS, COMPETITIVE MARKET, AND REGULATORY FACTORS OR FAILURE OF THE TRANSACTION DESCRIBED TO BE COMPLETED FOR ANY REASON. MORE DETAILED INFORMATION ABOUT THOSE FACTORS IS CONTAINED IN GE'S AND SECURITY CAPITAL'S FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION. 14 -----END PRIVACY-ENHANCED MESSAGE-----