Public Storage Announces Pricing of 6.875% Cumulative Preferred Shares of Beneficial Interest, Series O

GLENDALE, Calif.--(Business Wire)--
John Reyes, Senior Vice President and Chief Financial Officer of Public Storage
(NYSE:PSA), announced that the Company has priced a public offering of 5,600,000
depositary shares at $25.00 per depositary share, with each depositary share
representing 1/1,000 of a 6.875% Cumulative Preferred Share of Beneficial
Interest, Series O. The offering is expected to result in $140 million of gross
proceeds (assuming no exercise of the underwriters` overallotment option) and is
expected to close on or about April 13, 2010.

Banc of America Securities LLC and Wells Fargo Securities, LLC acted as joint
book-running managers for the offering. This announcement shall not constitute
an offer to sell or a solicitation of an offer to buy these securities nor shall
there be any offer or sale of these securities in any state or jurisdiction in
which such an offer, solicitation or sale would be unlawful. The offering will
be made only by means of a prospectus and prospectus supplement, copies of which
may be obtained by contacting Banc of America Securities LLC at 1-800-294-1322
or Wells Fargo Securities, LLC at 1-800-326-5897.

Company Information

Public Storage, a member of the S&P 500 and The Forbes Global 2000, 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 December 31,
2009, the Company had interests in 2,010 self-storage facilities located in 38
states with approximately 127 million net rentable square feet in the United
States and 188 storage facilities located in seven Western European nations with
approximately ten million net rentable square feet operated under the "Shurgard"
brand. The Company also owns a 41% common equity interest in PS Business Parks
(NYSE:PSB) which owned and operated approximately 19.8 million rentable square
feet of commercial space, primarily flex, multi-tenant office and industrial
space at March 16, 2010.

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

Public Storage
Clemente Teng
(818) 244-8080

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