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Shurgard Storage Centers, Inc.
Ticker Symbol: SHU*     CUSIP: 82567D104     Exchange: NYSE
* NOTE: This security is no longer trading as of 8/22/2006
Aug. 22, 2006 -- Public Storage, Inc. (NYSE:PSA) announced today the completion of the previously announced acquisition of Shurgard Storage Centers, Inc. (NYSE:SHU) in a transaction with a total value of approximately $5.5 billion. The transaction will further expand the size of the nation's largest self-storage company with an ownership interest in over 2,100 facilities in 38 states and seven European nations. All of Shurgard's shares of common stock have been converted into the right to receive 0.82 shares of Public Storage common stock, Public Storage assumed approximately $1.9 billion of Shurgard debt and $136 million of Shurgard preferred stock has been redeemed. The shareholders of Public Storage and Shurgard approved the transaction at meetings held earlier in the day.

Company's Online Profile
BUSINESS:  Shurgard Storage Centers, Inc. is a real estate investment trust (REIT) headquartered in Seattle, Washington that develops, acquires, owns and manages self storage centers and related operations. The Company operates a network of over 445 storage centers located throughout the United States and Europe.

Mid Cap Stock -   Market Value $916.0 Million

Company's Online Information Links
HOME PAGE:     http://www.shurgard.com/
Company's Investor Relations Information Goto Investor Relations Information
Company's Online News Releases Goto News Releases
Online Company Profile Goto Online Profile

Company's Online SEC EDGAR Filings
Company's SEC EDGAR Filings Goto SEC Filings

Company's Email Address Links
Email Address investorrelations@shurgard.com
Email Request Form on Website Goto Email Form

Address and Phone Numbers
Address:   1155 Valley Street, Suite 400, Seattle, WA 98109
Main Phone Number 206-624-8100
Fax Number 206-624-1645
Investor Contact   Jeffrey Scott Szorik 206-652-3702
Toll Free Phone Number 800-947-8673
CEO - Charles K. (Chuck) Barbo CFO - Harrell Beck

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