AMB Property Corporation® Announces Tax Treatment of 2010 Dividends

SAN FRANCISCO, Jan. 12, 2011 /PRNewswire/ -- AMB Property Corporation® (NYSE: AMB) today announced the tax treatment of its 2010 distributions on its Common Stock (NYSE: AMB), 6.5% Series L Cumulative Redeemable Preferred Stock (NYSE: AMB.PrL), 6.75% Series M Cumulative Redeemable Preferred Stock (NYSE: AMB.PrM), 7.0% Series O Cumulative Redeemable Preferred Stock (NYSE: AMB.PrO), and 6.85% Series P Cumulative Redeemable Preferred Stock (NYSE: AMB.PrP).

For holders of AMB Property Corporation® common stock, the 2010 dividend of $0.974 per share includes three quarterly distributions declared and paid in 2010, and a portion of 4th quarter distribution declared in 2010 and paid in 2011.

These distributions are classified for income tax purposes as follows: $0.651 per share (66.81%) is classified as an Ordinary Taxable Dividend and $0.323 per share (33.19%) is classified as a Capital Gain Dividend on the 2010 Form 1099-DIV.

For the company's 6.5% Series L Cumulative Redeemable Preferred Stock (NYSE: AMB.PrL), the company's reportable 2010 dividends totaling $1.625 per share are classified for income tax purposes as follows: $1.086 per share (66.81%) is classified as an Ordinary Taxable Dividend and $0.539 per share (33.19%) is classified as a Capital Gain Dividend on the 2010 Form 1099-DIV.

For the company's 6.75% Series M Cumulative Redeemable Preferred Stock (NYSE: AMB.PrM), the company's reportable 2010 dividends totaling $1.6875 per share are classified for income tax purposes as follows: $1.1274 per share (66.81%) is classified as an Ordinary Taxable Dividend and $0.5601 per share (33.19%) is classified as a Capital Gain Dividend on the 2010 Form 1099-DIV.

For the company's 7.0% Series O Cumulative Redeemable Preferred Stock (NYSE: AMB.PrO), the company's reportable 2010 dividends totaling $1.750 per share are classified for income tax purposes as follows: $1.169 per share (66.81%) is classified as an Ordinary Taxable Dividend and $0.581 per share (33.19%) is classified as a Capital Gain Dividend on the 2010 Form 1099-DIV.

For the company's 6.85% Series P Cumulative Redeemable Preferred Stock (NYSE: AMB.PrP), the company's reportable 2010 dividends totaling $1.7125 per share are classified for income tax purposes as follows: $1.1441 per share (66.81%) is classified as an Ordinary Taxable Dividend and $0.5684 per share (33.19%) is classified as a Capital Gain Dividend on the 2010 Form 1099-DIV.

The tables below summarize the income tax treatment of the company's 2010 dividends:

AMB Property Corporation.® Local partner to global trade.™

AMB Property Corporation is a leading owner, operator and developer of global industrial real estate, focused on major hub and gateway distribution markets in the Americas, Europe and Asia. As of September 30, 2010, AMB owned, or had investments in, on a consolidated basis or through unconsolidated joint ventures, properties and development projects expected to total approximately 158.4 million square feet (14.7 million square meters) in 49 markets within 15 countries. AMB invests in properties located predominantly in the infill submarkets of its targeted markets. The company's portfolio comprises High Throughput Distribution® facilities--industrial properties built for speed and located near airports, seaports and ground transportation systems.

AMB's press releases are available on the company website at www.amb.com or by contacting the Investor Relations department at +1 415 394 9000.

SOURCE AMB Property Corporation

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