CLEVELAND, Sept. 26 /PRNewswire-FirstCall/ -- U-Store-It Trust
(NYSE: YSI), a self-administered and self-managed real estate investment trust
focused primarily on self-storage facilities, announced today the commencement
of a public offering of 15,000,000 common shares. The underwriters will be
granted a 30-day option to purchase up to an additional 2,250,000 common
shares.
A registration statement relating to these securities has been filed with
the Securities and Exchange Commission but has not yet become effective.
These securities may not be sold nor may offers to buy be accepted prior to
the time the registration statement becomes effective. This communication
shall not constitute an offer to sell or the solicitation of an offer to buy,
nor shall there be any sale of these securities in any state in which the
offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of that state.
Lehman Brothers Inc. is serving as sole book-running manager. The co-
managers include Citigroup Global Markets, Inc., Wachovia Capital Markets,
LLC, A.G. Edwards & Sons, Inc., Raymond James & Associates, Inc., Banc of
America Securities LLC, KeyBanc Capital Markets, a division of McDonald
Investments Inc., and Harris Nesbitt Corp.
The offering of these securities will be made only by means of a
prospectus, copies of which may be obtained from Lehman Brothers Inc., c/o ADP
Financial Services, Prospectus Fulfillment, 1155 Long Island Avenue, Edgewood,
NY 11717, email: monica_castillo@adp.com, fax: 631-254-7268.
About U-Store-It Trust
U-Store-It Trust is a self-administered and self-managed real estate
investment trust focused on the ownership, operation, acquisition and
development of self-storage facilities in the United States. The Company's
self-storage facilities are designed to offer affordable, easily-accessible
and secure storage space for residential and commercial customers. According
to the Self-Storage Almanac, U-Store-It Trust is one of the top five owners
and operators of self-storage facilities in the United States.
Forward Looking Statements
Certain statements in this release that are not historical fact may
constitute forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Such forward-looking statements
involve known and unknown risks, uncertainties and other factors which may
cause the actual results of the Company to differ materially from historical
results or from any results expressed or implied by such forward-looking
statements, including without limitation: national and local economic,
business, real estate and other market conditions; the competitive environment
in which the Company operates; the execution of our business plan; financing
risks; increases in interest rates and operating costs; the Company's ability
to maintain its status as a REIT for federal income tax purposes; acquisition
and development risks; changes in real estate and zoning laws or regulations;
risks related to natural disasters; potential environmental and other
liabilities; and other factors affecting the real estate industry generally or
the self-storage industry in particular. The Company refers you to the
documents filed by the Company from time to time with the Securities and
Exchange Commission which discuss these and other risks and factors that could
cause the Company's actual results to differ materially from any forward-
looking statements.
Contact:
U-Store-It Trust
Steven G. Osgood
President & Chief Financial Officer
(440) 234-0700
The Ruth Group
Investors:
Stephanie Carrington / Guy Gresham
(646) 536-7017/7028
scarrington@theruthgroup.comggresham@theruthgroup.com
Media:
Jason Rando
(646) 536-7025
jrando@theruthgroup.com
SOURCE U-Store-It Trust
-0- 09/26/2005
/CONTACT: Steven G. Osgood, President & Chief Financial Officer of
U-Store-It Trust, +1-440-234-0700; Media: Jason Rando, +1-646-536-7025,
jrando@theruthgroup.com; Investors: Stephanie Carrington, +1-646-536-7017,
scarrington@theruthgroup.com, or Guy Gresham, +1-646-536-7028,
ggresham@theruthgroup.com, both of The Ruth Group, for U-Store-It Trust/
(YSI)
CO: U-Store-It Trust
ST: Ohio
IN: RLT
SU: OFR
RD-AA
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0151 09/26/200507:00 EDThttp://www.prnewswire.com