Public Storage Opens its Largest Self-Storage Facility in Bronx, New York

  Public Storage Opens its Largest Self-Storage Facility in Bronx, New York

           Providing Multiple Storage Solutions to the Local Market

Business Wire

GLENDALE, Calif. -- June 19, 2013

Public Storage (NYSE:PSA) David Doll, Senior Vice President, announced the
opening of Public Storage’s largest self-storage facility in Bronx, New York.
The 12-story facility, located at 385 Gerard Avenue (at East 144th Street),
will have more than 4,000 units when completed and is Public Storage’s
2,079^th location.

Public Storage Opens Largest Self-Storage Facility in the Bronx (Photo:
Business Wire)

Public Storage Opens Largest Self-Storage Facility in the Bronx (Photo:
Business Wire)

The new facility has been designed specifically for the local community with a
large variety of sizes to suit the needs and demands of customers from
Manhattan to Harlem and the Bronx. The property includes free parking and
off-street loading docks for large moving vans.

“Growing demand for smaller sized units at our other locations throughout
greater NYC has led us to build this facility to meet the specific needs of
local customers,” said David Doll. “Not only does our Gerard facility offer
the right kind of storage at the right price, its easy access and free parking
make it a convenient choice for the 687,000 New Yorkers who live within two
miles of the property.”

Public Storage has invested millions of dollars through local construction
trades to renovate and retrofit the building to its high standards that
include new roofs, mechanical systems, new high-speed freight elevators and
insulated exterior panels. The building will also be energy efficient. The
Gerard facility is part of the resurgence in the area with the Yankee Stadium
and Bronx Terminal Market developments.

Customers can reserve space online by visiting PublicStorage.com, or by
calling 1-800-44-STORE. Grand opening promotions include $1 for the first
month’s rent along with heavily discounted monthly rental rates. Storage
features include restricted access, interior door lock systems and remote
surveillance monitoring after hours.

Company Information

Public Storage, a member of the S&P 500 and FT Global 500, is a fully
integrated, self-administered and self-managed real estate investment trust
that primarily acquires, develops, owns and operates self-storage facilities.
The Company’s headquarters are located in Glendale, California. At March 31,
2013, the Company had interests in 2,080 self-storage facilities located in 38
states with approximately 133 million net rentable square feet in the
UnitedStates and 188 storage facilities located in seven Western European
nations with approximately tenmillion net rentable square feet operated under
the “Shurgard” brand. The Company also owns a 41% common equity interest in PS
Business Parks, Inc. (NYSE:PSB) which owned and operated approximately 28.2
million rentable square feet of commercial space, primarily flex, multi-tenant
office and industrial space, at March 31, 2013.

Additional information about Public Storage is available on the Internet. The
Company’s web site is www.publicstorage.com.

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Contact:

Public Storage
Clemente Teng
(818) 244-8080, Ext. 1141