X0202 4 2004-05-20 0 0001045609 AMB PROPERTY CORP AMB 0001199190 LOSH J MICHAEL AMB PROPERTY CORPORATION, PIER 1, BAY 1 SAN FRANCISCO CA 94111 1 0 0 0 Common Stock 2004-05-20 4 D 0 1493.0000 D 4493.0000 D Stock Units 2004-05-20 4 A 0 1493.0000 A 4493.0000 I Rabbi Trust Common Stock 2004-05-20 4 A 0 1557.0000 30.8100 A 6050.0000 D Stock Option (Right to Purchase) 30.8100 2004-05-20 4 A 0 13502.0000 0 A 2005-05-20 2014-05-20 Common Stock 13502.0000 47227.0000 D Upon vesting of the 1,493 shares of restricted stock on 1/2/04, 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. Not applicable. The stock units are held indirectly through a rabbi trust pursuant to the Plan. Shares were granted pursuant to the Company's 2002 Stock Option and Incentive Plan and are subject to a repurchase right held by the Company, which lapses fully on May 20, 2005. Of the 6,050 securities beneficially owned, 4,557 are directly owned (D) and 1,493 securities are held indirectly (I) through a rabbi trust pursuant to the Plan. /s/ Tamra Browne pursuant to a Power of Attorney dated 12/23/02 2004-05-24