Prologis Formerly AMB Property Announces Final Results of Exchange Offers

As announced earlier this morning, ProLogis and AMB Property Corporation completed a merger of equals on June 3, 2011. In connection with the completion of the merger, AMB Property Corporation changed its name to Prologis, Inc.

, AMB Property, L.P. changed its name to Prologis, L.P., and ProLogis, which became an indirect wholly owned subsidiary of Prologis, L.P., changed its name to Prologis. In addition, Prologis, Inc. today announced final results from the offers to exchange all outstanding notes of the series described in the table below issued by Prologis for corresponding series of notes to be issued by Prologis, Inc.'s operating partnership, Prologis, L.P. and guaranteed by Prologis, Inc. As of 9:00 a.m., New York City time, on June 3, 2011, and as indicated in the table below, approximately $4.37 billion aggregate principal amount of Prologis Notes had been validly tendered for exchange, such that the requisite consents for the applicable series of Prologis Notes have been received. In light of having received the requisite consents and the completion of the merger, the proposed amendments to the Prologis indenture governing the Prologis Notes will be adopted, assuming all other conditions of the exchange offers and consent solicitations are satisfied or waived, as applicable. The following table shows the principal amount of each such series tendered for exchange. The exchange offers are expected to settle on June 8, 2011.