X0201 42004-01-0200001045609AMB PROPERTY CORP AMB0001213054FRIES DAVID SC/O AMB PROPERTY CORPORATIONPIER 1, BAY 1SAN FRANCISCOCA941110100Executive VPCommon Stock2004-01-024D022357.0000D101413.0000DStock Units2004-01-024A022357.0000A101413.0000ISee footnoteUpon vesting of the 22,357 shares of restricted stock, the reporting person deferred these shares into the Amended and Restated AMB Nonqualified Deferred Compensation Plan (the "Plan"). The deferral of these shares was credited to the reporting person's account in the form of an equivalent number of stock units, each of which represents the reporting person's right to receive a share of AMB common stock upon distribution of his account. Distribution will occur upon retirement, death, other termination of employment or disability, upon AMB's change of control or on such other date as the reporting person elects.Solely a change in the form of ownership.Of the 101,413 securities beneficially owned, 60,199 are directly owned (D) and 41,214 securities are held indirectly (I) through a rabbi trust pursuant to the Plan.The stock units are held indirectly through a rabbi trust pursuant to the Plan./s/ Tamra D. Browne pursuant to a power of attorney dated 01/15/2003.2004-01-05