CNT Centerpoint Pty Sbi

CenterPoint Properties Trust (NYSE:CNT) today announced new Illinois legislation incentivizing the development of rail intermodal facilities. Intermodal facilities allow for the efficient direct transfer of containerized freight between rail and truck carriers. Senate Bill 572, signed today by Gov. Rod R. Blagojevich, recognizes the importance of modern rail facilities to the state's economic growth by providing incentives for private infrastructure development. The law permits local municipalities to designate areas within their boundaries as intermodal terminal facilities and makes it easier for them to offer Tax Increment Financing, an economic development incentive for new state-of-the-art projects. The law also provides benefits consistent with Enterprise Zone status, including a sales tax exemption on building materials. The new legislation also makes these incentives available for the redevelopment of obsolete rail facilities into other uses. Senate President Emil Jones (D-Chicago) and State Rep. Robert Rita (D-Crestwood) sponsored the legislation. CenterPoint originated the bill and actively supported its passage. CenterPoint has completed two of the nation's largest intermodal facilities, one for The Burlington Northern and Santa Fe Railway Company in Elwood, Illinois and another for The Union Pacific Railroad in Rochelle, Illinois. The Company has underway the development of significant ancillary business parks at each of these facilities. The new law is expected to stimulate similar development opportunities. "We want to thank Governor Rod Blagojevich and Senate President Emil Jones for their strong support of this bill," stated Michael Mullen, Chief Executive Officer. "The region's unparalleled transportation infrastructure supports Chicago's large and diverse industrial real estate market. We believe this bill will spur the development of additional modern intermodal rail facilities necessary to service the growing demand for containerized shipping. Already, Chicago is a 'global hub' ranking third in the world in the volume of containerized traffic. The new law will help ensure the region's rail dominance, continuing the trend of new business locating in the state. Manufacturers and distribution firms are increasingly looking to "hub" locations with superior rail and truck access to lower logistics costs. We expect our business to benefit from the growing demand for intermodal facilities and ancillary industrial space as well as growing general demand for space in the region because of the area's transportation advantages." About CenterPoint Properties Trust CenterPoint is a publicly traded real estate investment trust (REIT) and the largest industrial property company in the 1.4-billion-square-foot Chicago regional market. As of June 30, 2005, the Company owned and operated approximately 38 million square feet and the Company and its affiliates owned or controlled an additional 3,342 acres of land upon which approximately 50 million square feet could be developed. The Company is focused on providing unsurpassed tenant satisfaction and adding value to its shareholders through customer driven management, investment, development and redevelopment of warehouse, distribution, light manufacturing buildings and logistics infrastructure. The first major REIT to focus on the industrial property sector, CenterPoint had a total market capitalization of approximately $3.0 billion as of June 30, 2005. Statements in this release, which are not historical, may be deemed forward-looking statements under federal securities laws. There can be no assurance that future results will be achieved and actual results could differ materially from forecasts and estimates. Factors that could cause actual results to differ materially are general business and economic conditions, completion of pending acquisitions, competitive market conditions, weather, pricing of debt and equity capital markets and other risks inherent in the real estate business. Such factors and others are listed in the Company's Form 10-K and 10-Qs.