U-Store-It Trust Announces Pricing of Common Share Offering

WAYNE, PA--(Marketwire - August 13, 2009) - U-Store-It Trust (the "Company") (NYSE: YSI)
announced today that it has priced its public offering of 28,000,000 common
shares at a price to the public of $5.25 per share. In addition, the
Company has granted the underwriters a 30-day option to purchase up to
4,200,000 additional common shares to cover overallotments, if any.

The estimated net proceeds to the Company from the offering, before giving
effect to any exercise of the underwriters' overallotment option, are
expected to be approximately $140,103,000, after deducting the underwriting
discount and estimated offering expenses payable by the Company. The
Company plans to use the net proceeds from the offering to repay existing
indebtedness, including a portion of the outstanding balance under the
Company's unsecured credit facility, and for general corporate purposes.
Subject to customary closing conditions, the offering is expected to close
on or about August 19, 2009.

BofA Merrill Lynch, Wells Fargo Securities and Morgan Keegan & Company,
Inc. are acting as the joint book-running managers for the offering.
SunTrust Robinson Humphrey, PNC Capital Markets LLC and ABN AMRO
Incorporated are acting as co-managers for the offering.

This offering was made pursuant to a prospectus supplement to the Company's
prospectus dated January 13, 2009, filed as part of the Company's effective
shelf registration statement relating to these securities. This press
release shall not constitute an offer to sell or a solicitation of an offer
to buy the securities described herein, nor shall there be any sale of
these securities in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or other
jurisdiction.

Copies of the final prospectus supplement and accompanying prospectus
relating to these securities may be obtained, when available, by
contacting: BofA Merrill Lynch, Attention: Prospectus Department, 4 World
Financial Center, New York, New York 10080; Wells Fargo Securities, Attn:
Equity Syndicate Department, 375 Park Avenue, New York, New York 10152,
telephone: (800) 326-5897 or email a request to
equity.syndicate@wachovia.com; or Morgan Keegan & Company, Inc., 50 N.
Front Street, Memphis, Tennessee, 38103, telephone: (800) 366-7426 ext.
5357.

About the Company

U-Store-It Trust is a self-administered and self-managed real estate
investment trust. The Company provides self-storage solutions across the
country through its 383 Company-owned facilities and the U-Store-It
Network, which consists of approximately 310 additional self-storage
facilities. The Company's self-storage facilities, storage space and
storage solutions are designed to offer affordable, easily-accessible,
secure, and in most locations, climate-controlled storage space for
residential and commercial customers, as well as boat storage and mini
storage. According to the 2009 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.