GLENDALE, Calif.--(BUSINESS WIRE)--Sept. 25, 2003--Harvey Lenkin,
President of Public Storage, Inc. (NYSE:PSA) (PCX:PSA), announced that
the Company has priced today a public offering of 5,000,000 depositary
shares, with each depositary share representing 1/1,000 of a share of
6.500% Cumulative Preferred Stock, Series W. The offering will result
in $125 million of gross proceeds (assuming no exercise of the
underwriters' overallotment option).
Morgan Stanley & Co. Incorporated acted as lead underwriter for
the offering. Copies of the prospectus relating to this transaction
may be obtained by contacting Morgan Stanley & Co. Incorporated by
telephone at 212-761-6775 or by sending a request via facsimile to
Morgan Stanley & Co. Incorporated at 212-761-0211.
Public Storage, Inc. is a fully integrated, self-administered and
self-managed real estate investment trust that primarily acquires,
develops, owns and operates storage facilities. The Company's
headquarters is located in Glendale, California. The Company's storage
properties are located in 37 states. At June 30, 2003, the Company had
interests in 1,407 storage facilities.
More information about Public Storage, Inc. is available on the
Internet. Our website is at www.publicstorage.com.
CONTACT: Public Storage, Inc.Mr. Harvey Lenkin, 818-244-8080
www.publicstorage.com
SOURCE: Public Storage, Inc.