Public Storage Announces Redemption of All Outstanding Depositary Shares Representing Interests in its 7.25% Cumulative Preferred Shares, Series I

Public Storage PSA announced today that it is calling for redemption all outstanding depositary shares representing interests in its 7.25% Cumulative Preferred Shares, Series I on June 20, 2011 at $25 per depositary share plus accrued dividends from April 1, 2011 through the date of redemption. The aggregate redemption amount, before payment of accrued dividends, to be paid to all holders of the depositary shares is $167,500,000.