These alternatives include a sale of the company; formation ofasset joint ventures with strategic partners; a sale of certain ofits assets or operations; and continued implementation ofShurgard's strategic business plan. Shurgard cautioned investorsThursday morning that there could be no assurance that theexploration of strategic alternatives would result in anydefinitive agreement or transaction.

Citigroup Global Markets Inc. and Banc of America Securities LLCare serving as financial advisors in connection with these matters.Willkie Farr & Gallagher LLP and Perkins Coie LLP are acting aslegal counsel.

Shurgard operates a network of over 630 operating storagecenters located throughout the US and Europe. Public Storage hasinterests in 1,480 storage facilities. In early July, PublicStorage offered .80 shares of PSA common stock for each share ofShurgard, which represented a 14% premium over Shurgard's stockprice immediately prior to the offer.