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Press release from Business Wire

Public Storage Announces the Passing of Harvey Lenkin, Former President and Director

Wednesday, November 06, 2013

Public Storage Announces the Passing of Harvey Lenkin, Former President and Director

17:14 EST Wednesday, November 06, 2013

GLENDALE, Calif. (Business Wire) -- It is with great sadness that we announce the passing of Harvey Lenkin, former President and Director of Public Storage (NYSE:PSA) and a former Director of PS Business Parks (NYSE:PSB).

Harvey was a leader. He joined Public Storage in 1978 as President of management operations. At that time, the self-storage industry was in its infancy. Harvey was instrumental in leading the Company's growth from 36 properties when he joined to over 2,000 properties. Harvey helped organize the trade groups that established basic operational procedures and drafted the multi-state legislation that the industry still follows today.

In 1991, Harvey became President and Director of Public Storage. His contributions were numerous, including the first issuance of preferred stock by a REIT (1992), the conversion of Public Storage into a public company (1995) and the merger with Storage Trust (1999). Harvey retired as President in 2005, but was instrumental in the Shurgard merger (2006). He was also responsible for the founding of PS Business Parks (1998) and a Director until 2011.

Within the REIT industry, Harvey was an active participant in many industry events and a member of the Executive Committee of the NAREIT Board of Directors.

Harvey “bled orange.” A one-of-a-kind individual and a legend at Public Storage, he was a leader, mentor and friend to all.

Harvey is survived by his wife, Heather, and five children.

Company Information

Public Storage, a member of the S&P 500 and FT Global 500, 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 September 30, 2013, the Company had interests in 2,110 self-storage facilities located in 38 states with approximately 135 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 43% common equity interest in PS Business Parks, Inc. (NYSE:PSB) which owned and operated approximately 28.6 million rentable square feet of commercial space, primarily flex, multi-tenant office and industrial space, at September 30, 2013.

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, Ext. 1141

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