4 1 primeretailformfour.txt FORM 4 1 Name and Address of Reporting Person Howard Amster 25812 Fairmount Blvd Beachwood, OH 44122-2214 2 Issuer Name and Trading Symbol Prime Retail, Inc. PMRE 3 I.R.S. Identification Number of Reporting Person (Voluntary) 4 Statement for Month/Year December 2001 5 If Amendment Date of Original 6 Relationship of Reporting Person to Issuer X Director X 10% Owner 7 Individual or Joint/Group Filing X Form filed by One Reporting Person Table I Non-Derivative Securities Acquired,Disposed of or Beneficially Owned 1 Title of Security- Common Preferred A 2 3 4 5 6 7 Trans Trans Securities Amount Owner Nature Date Code Acquired/ Bene- Ship of In- Disposed fically Form direct Owned Owner Common- 335,726 D 66,948 I 100% owned Corp Funded T Preferred A- 27,700 D 104,100 I 83% owner 10,000 I 100% owned corp. is general partner 17,100 I Spouse 10,000 I Spouse's 100% corp. Table II Derivative Securities Acquired, Disposed of/or Beneficially Owned 1 Title of Derivative Security Prime Retail Series B Cu Part CV 2 Conversion of Derivative Security- 1.1962 6 Date Exercisable/Expiration Date Until 12/31/49 3 4 5 7 8 9 10 11 Trans Trans Number of Amount of Price Number Owner Nature of Date Code Derivative Underlying Deriv ship Indirect Securities Securities Owned Form Owner ___________________________________________________________________ 928,025 D 2,750 I General Partner 58,000 I 100% Funded Trust 170 I 100% Owned Corp 4,000 I 100% owned Corp is Gen Partner 181,000 I 83% Owner 19,760 I Spouse 100% owned corp. Explanation of Responses: This Form 4 is being filed to reflect that on 12/11/01, this reporting person became a director of the Issuer. Signature Howard Amster 12/20/01