WAYNE, PA -- (MARKET WIRE) -- 05/28/09 --
U-Store-It Trust (NYSE: YSI), a national
self-storage company offering storage
facilities, service and solutions, announced today it has established a
national network of self-storage facilities and is capable of providing
storage solutions to customers in all 50 states. As of March 31, 2009, the
company owned 386 self-storage facilities in 27 states and the District of
Columbia. U-Store-It currently has contracted with third-party partners to
provide self-storage at approximately 150 additional locations, with an
estimated 250 more locations that are in the process of joining the rapidly
expanding network.
"The establishment of the U-Store-It Network is a fundamental step in
executing our growth strategies," said U-Store-It Chief Executive Officer
Dean Jernigan. "Our network expands our reach to all 50 states, allowing us
to provide storage solutions to more
customers and generate incremental revenue. We look forward to further
extending our reach with additional network partners and to benefit from
our expanded reach as we serve a larger customer base."
Participants in the U-Store-It Network do not compete with company-owned or
operated U-Store-It locations. Network locations are independently owned
and operated and are not affiliated with U-Store-It. Information regarding
network partner location addresses, gate and office hours, location photos,
unit types and pricing is available on http://www.ustoreit.com. Consumers
may contact a particular network location via a unique phone number as well
as reserve a specific unit type through the web site.
Parties interested in joining the U-Store-It Network may go to
http://www.ustoreit.com/u-store-it-network, email network@ustoreit.com, or
call 1-800-691-2003 for more information.
Visitors may go online to http://www.ustoreit.com to learn more about the
company's moving and
storage solutions and to find a nearby storage facility. Visitors to
ustoreit.com can also view the sizes and features of individual
self-storage units, reserve storage space, and pay their storage bills
online using a safe, secure online payment function.
For more information about business or personal storage call U-Store-It
toll free at 1-888-U-STORE-IT.
About U-Store-It Trust
U-Store-It Trust is a self-administered and self-managed real estate
investment trust. The company provides self-storage solutions in all 50
states through its 386 company-owned facilities and the U-Store-It Network,
which consists of approximately 150 additional third-party locations. 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
four owners and operators of self-storage facilities in the U.S.
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.
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Company Contact:
Timothy Martin
Chief Financial Officer
(610) 293-5700