CenterPoint Properties Gives Update on Executive's Employment

CenterPoint Properties Trust (NYSE:CNT) today provided
an update on the employment status of Executive Vice President and
Chief Operating Officer, Paul T. Ahern. On June 9, 2005, the Company
advised Mr. Ahern that his rejection of pay as well as other actions
appear to demonstrate that he has resigned as of May 15, 2005 and the
Company is treating him as such. In a lawsuit filed by Mr. Ahern, he
has taken the position that he was constructively terminated by the
Company on April 13, 2005. As previously disclosed, the Board of
Trustees is continuing its investigation into whether Mr. Ahern has
violated certain Company policies and whether there are grounds for
termination for cause, regardless of his apparent resignation. Sean
Maher continues to perform Mr. Ahern's responsibilities pending the
resolution by the Board of these issues.
   Martin Barber, Co-Chair of the Board of Trustees commented, "As
the Board addresses this issue, we have every confidence in Mike
Mullen and the team's continued performance and leadership. They will
continue to run the business smoothly and in the best interest of the
shareholders. We look forward to the Company sustaining its above
average earnings growth."

   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 March 31, 2005,
the Company owned and operated approximately 40.1 million square feet
and the Company and its affiliates owned or controlled an additional
3,329 acres of land upon which approximately 52 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 March 31, 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.