Cornish Joins AMB Property Corporation(R) as Senior Vice President, Chief Operating...

Cornish Joins AMB Property Corporation(R) as Senior Vice President, Chief
Operating Officer, China

SAN FRANCISCO, Aug. 5 /PRNewswire-FirstCall/ -- AMB Property
Corporation(R) (NYSE: AMB), a leading global developer and owner of industrial
real estate, today announced Ben M. Cornish (39) has joined the company as
senior vice president, chief operating officer for China, a new position
within AMB responsible for the company's expansion in China.
A veteran of numerous industrial and retail real estate developments in
Asia since 1997, Cornish was most recently president of GMS China, a developer
of retail properties throughout China. Previously, he was in charge of China
real estate development for Wal-Mart International for five years, served as
managing director for the Southeast Asia Division of Koll Development, and
developed warehouses for Trammell Crow in both the U.S. and China.
"Ben's proven track record in real estate development across Asia, his
experience throughout China and his thorough understanding of our customers'
businesses make him a valuable addition to our China team," said Guy F.
Jaquier, AMB's president, Europe & Asia. "We're delighted to have Ben help
lead our growing China platform." AMB's presence in China totals approximately
2.6 million square feet (241,100 square meters) of operating and under
development properties in Shanghai and Beijing, including the company's recent
acquisition of the 306,000 square foot (28,400 square meter) AMB Beijing
Capital Airport Distribution Center 1. The company is also targeting Chengdu
and the Pearl River Delta markets for future investment.
Cornish holds a bachelor of science degree, as well as a master of science
degree in land development from Texas A&M University, and enhanced his
education with post graduate studies in international development.
Cornish reports to Thomas F. Marquis, managing director of AMB Property
China, and will be based in AMB's newly-opened Shenzhen office.
AMB Property Corporation.(R) Local partner to global trade.(TM)
AMB Property Corporation(R) is a leading global developer and owner of
industrial real estate, focused on major hub and gateway distribution markets
in the Americas, Europe and Asia. As of June 30, 2008, AMB owned, or had
investments in, on a consolidated basis or through unconsolidated joint
ventures, properties and development projects expected to total approximately
155.5 million square feet (14.5 million square meters) in 47 markets within 15
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(R) 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
http://www.amb.com or by contacting the Investor Relations department at
+1 415 394 9000.
Some of the information included in this press release contains
forward-looking statements, such as the company's ability to grow its business
in China, which are made pursuant to the safe-harbor provisions of Section 21E
of the Securities Exchange Act of 1934, as amended, and Section 27A of the
Securities Act of 1933, as amended. Because these forward-looking statements
involve 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
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," "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 only as of the date of this report
or the dates indicated in the statements. 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: defaults on or
non-renewal of leases by tenants, increased interest rates and operating
costs,
our failure to obtain necessary outside financing, re-financing risks,
difficulties in identifying properties to acquire and in effecting
acquisitions, our failure to successfully integrate acquired properties and
operations, our failure to divest properties on advantageous terms or to
timely reinvest proceeds from any divestitures, risks and uncertainties
affecting property development and construction (including construction
delays,
cost overruns, our inability to obtain necessary permits and public opposition
to these activities), our failure to qualify and maintain our status as a real
estate investment trust, environmental uncertainties, risks related to natural
disasters, changes in general economic conditions or in the real estate
sector,
changes in real estate and zoning laws or other local, state and federal
regulatory requirements, a downturn in the U.S., California, or the global
economy, risks related to doing business internationally, losses in excess of
our insurance coverage, unknown liabilities acquired in connection with
acquired properties or otherwise and increases in real property tax rates. Our
success also depends upon economic trends generally, including interest rates,
income tax laws, governmental regulation, legislation, population changes,
various market conditions and fluctuations and those other risk factors
discussed under the heading "Risk Factors" and elsewhere in our most recent
annual report on Form 10-K for the year ended December 31, 2007.
SOURCE AMB Property Corporation

Rachel E. M. Bennett, Media and Public Relations Director of AMB Property
Corporation, +1-415-733-9532, rbennett@amb.com