Exhibit 99.1
AMB ANNOUNCES RESULTS OF TENDER OFFER
SAN FRANCISCO, May 5, 2009 — AMB Property Corporation (NYSE:AMB) announced today the results
of AMB Property, L.P.’s cash tender offer (the “Tender Offer”) for any and all of AMB
Property, L.P.’s outstanding 8% Notes due 2010 and any and all of AMB Property, L.P.’s
outstanding 5.45% Notes due 2010 (collectively, the “Notes”). The Tender Offer expired at
5:00 p.m., New York City time, on Tuesday, May 5, 2009 (the “Expiration Time”), with
$28,500,000 and $146,500,000 in aggregate principal amount of the 8% Notes due 2010 and 5.45%
Notes due 2010, respectively, validly tendered, not withdrawn and accepted by AMB Property,
L.P. for purchase. After giving effect to the purchase of the tendered Notes, an aggregate
principal amount of $46,500,000 and $28,500,000 of the 8% Notes due 2010 and 5.45% Notes due
2010, respectively, remain outstanding. Payment for the Notes purchased pursuant to the
Tender Offer is expected to be made on the next business day following the Expiration Time.
This press release is for informational purposes only and is not an offer to buy or the
solicitation of an offer to sell with respect to any securities. J.P. Morgan Securities Inc.
acted as dealer manager for the Tender Offer and Global Bondholder Services Corporation acted
as information agent and depositary for the Tender Offer. Persons with questions regarding
the Tender Offer should contact J.P. Morgan Securities Inc. at 212.834.3118 or 866.834.4666
(U.S. toll free), or Global Bondholder Services Corporation at 866.540.1500 (U.S. toll free)
or at 212.430.3774 (collect).
AMB Property Corporation.(R) Local partner to global trade.™
AMB Property Corporation® is a leading owner, operator and developer of industrial
real estate, focused on major hub and gateway distribution markets in the Americas, Europe
and Asia. As of March 31, 2009, AMB owned, or had investments in, on a consolidated basis or
through unconsolidated joint ventures, properties and development projects expected to total
approximately 159.0 million square feet (14.8 million square meters) in 48 markets within 14
countries. AMB invests in properties located predominantly in the infill submarkets of its
targeted markets. The company’s portfolio is comprised of High Throughput
Distribution® facilities—industrial properties built for speed and located near
airports, seaports and ground transportation systems.
Some of the information included in this press release contains forward-looking statements,
such as statements related to the cash tender offer for any and all of the outstanding Notes.
Because these forward-looking statements involve numerous risks and uncertainties, there are
important factors that could cause our actual results to differ materially from those in the
forward-looking statements, and you should not rely on the forward-
looking statements as predictions of future events. The events or circumstances reflected in
the forward-looking statements might not occur. You can identify forward-looking statements
by the use of forward-looking terminology such as “believes,” “expects,” “may,” “will,”
“should,” “seeks,” “approximately,” “intends,” “plans,” “forecasting, “ “pro forma,”
“estimates” or “anticipates” or the negative of these words and phrases or similar words or
phrases. You can also identify forward-looking statements by discussions of strategy, plans
or intentions. Forward-looking statements are necessarily dependent on assumptions, data or
methods that may be incorrect or imprecise and we may not be able to realize them. We caution
you not to place undue reliance on forward-looking statements, which reflect our analysis
only and speak as of the date of this press release or as of the dates indicated in the
statements. All of our forward-looking statements are qualified in their entirety by this
statement. We assume no obligation to update or supplement forward-looking statements. The
following factors, among others, could cause actual results and future events to differ
materially from those set forth or contemplated in the forward-looking statements contained
in this press release: any material adverse change in the financial or securities markets
within or outside the United States or in political, financial or economic conditions within
or outside the United States or any material outbreak or material escalation of hostilities
within or outside the United States or declaration by the United States of a national
emergency or war or other material calamity or crisis within or outside the United States,
including, without limitation, an act of terrorism, any suspension or limitation of trading
in securities generally or in any of the securities of AMB by the SEC, by any exchange that
lists such securities or in any over-the-counter market, any declaration by any governmental
authority of a general banking moratorium, any financial market fluctuations, actual or
perceived changes in general economic conditions, global trade or in the real estate sector,
inflation risks, an actual or perceived downturn in the U.S., California or global economy,
any amendment, extension or termination of the tender offer, and certain other matters
discussed under the heading “Risk Factors” and elsewhere in our annual report on Form 10-K
for the year ended December 31, 2008.
SOURCE: AMB Property Corporation
CONTACT:
AMB CONTACTS
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Tracy A. Ward
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Rachel E. M. Bennett |
Vice President, IR & Corporate Communications
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Director, Media & Public Relations |
Direct +1 415 733 9565
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Direct +1 415 733 9532 |
Email tward@amb.com
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Email rbennett@amb.com |