“Being proactive on sustainability issues will prove important to the long-term success of our company.”

STATEMENT FROM THE CEO

To Our Fellow Stakeholders,

Since its founding in 1983, AMB has been committed to financial transparency, employee development, community involvement and environmental responsibility. Our approach has been guided by our enduring principles of innovation, excellence and integrity, as well as a commitment to steadily improve the way we do business. My colleagues and I believe that being proactive on sustainability issues is important to the long-term success of our company. Besides being good for the bottom line, we are convinced that minimizing our impact on the world around us is simply the right thing to do.

In that spirit, I am pleased to report that our efforts are generating tangible results as we strive to “green” our portfolio on a global scale. In Japan, for example, we achieved CASBEE rankings for more than 2 million square feet of infill properties in 2008 and 2009. In the U.S., we sold 1 million square feet of LEED-registered projects last year alone. Going forward, we plan to continue to implement sustainable standards on development projects around the world and to further our partnerships and share best practices with customers, industry groups and local municipalities.

Our long-standing strategy has been to acquire, develop and operate facilities at infill locations whenever possible, putting our customers closer to their customers. Proximity to transportation hubs not only improves supply chain efficiency, it reduces air pollution and carbon emissions. While AMB has an extensive track record of being on the forefront in terms of implementing technology that decreases the energy demands of our facilities, we have seen a recent shift in the attitudes of our customers as they increasingly expect access to sustainable warehouses, whether new or existing, in all global markets. We welcome this change.

Given that we live in a world of finite natural resources, the reality of our industry is that you cannot function within it unless you are prepared to proactively address environmental concerns. What was once a trend is now standard operating procedure, and AMB is proud to have been a pioneer. We take seriously our responsibilities as a global leader in the logistics space and as a corporate citizen, and we are excited about helping build a sustainable future. Our goal is to continue making our efforts more effective, and we hope you will let us know what you think.

Sincerely,

Hamid R. Moghadam
Chairman & Chief Executive Officer