CubeSmart Announces 37.5% Increase in Quarterly Common Dividend

CubeSmart Announces 37.5% Increase in Quarterly Common Dividend 
WAYNE, PA -- (Marketwire) -- 12/10/12 --  CubeSmart (NYSE: CUBE), a
self-administered and self-managed real estate investment trust
focused on self-storage facilities, announced today that its Board of
Trustees declared a quarterly dividend of $0.11 per common share for
the period ending December 31, 2012. The dividend is payable on
January 15, 2013 to common shareholders of record on January 1, 2013.
The quarterly distribution represents an annualized dividend rate of
$0.44 per share, a 37.5% increase from the previous annual rate of
$0.32 per share. The Board of Trustees also declared a quarterly
dividend of $0.484375 for the 7.75% Series A Cumulative Redeemable
Preferred Shares payable on January 15, 2013 to holders of record on
January 1, 2013.  
Chief Executive Officer Dean Jernigan said, "We have continued to
increase our cash flow by successfully executing on our internal and
external growth initiatives, and we are pleased to be able to share
this growth with our common shareholders directly in the form of a
growing dividend. We remain committed to a balanced dividend policy
that enables our shareholders to continue to participate in our
growth, while recognizing that retained capital is an important
component of funding for the significant external growth
opportunities that we continue to see in a consolidating industry."  
About the Company 
CubeSmart is a self-administered and self-managed real estate
investment trust. CubeSmart owns or manages 508 facilities across the
United States and operates the CubeSmart Network, which consists of
approximately 800 additional self-storage facilities. According to
the 2012 Self Storage Almanac, CubeSmart is one of the top four
owners and operators of self-storage facilities in the U.S. 
The Company plans to exceed Customer expectations by adding more
personalized services and technology to some of the best storage
spaces around. The Company's self-storage facilities are designed to
offer affordable, easily accessible, secure, and in most locations,
climate-controlled storage space for residential and commercial
customers, as well as boat storage and mini storage. CubeSmart
services include storage customization, logistics services,
comprehensive moving services, organizational services, and office
amenities.  
For more information about business and personal storage or to learn
more about the company, visit us online at www.CubeSmart.com or call
CubeSmart(R) toll free at 1-800-800-1717.  
Forward-Looking Statements 
Although the Company believes the expectations reflected in any
forward-looking statements in this press release are based on
reasonable assumptions, there can be no assurance that such
expectations will be achieved. You should not rely on our
forward-looking statements because the matters they describe are
subject to known and unknown risks and uncertainties that could cause
the Company's future results, performance, or achievements to differ
significantly from the results, performance, or achievements
expressed or implied by such statements. Such risks are set forth
under the captions "Item 1A. Risk Factors" and "Forward-Looking
Statements" in our annual report on Form 10-K and under the caption
"Item 2. Management's Discussion and Analysis of Financial Condition
and Results of Operations" (or similar captions) in our quarterly
reports on Form 10-Q, and described from time to time in the
Company's filings with the SEC. For forward-looking statements
herein, the Company claims the protection of the safe harbor for
forward-looking statements contained in the Private Securities
Litigation Reform Act of 1995. The Company assumes no obligation to
update or supplement forward-looking statements that become untrue
because of subsequent events.  
Company Contact: 
CubeSmart
Daniel Ruble
Investor Relations 
(610) 293-5700