SOURCE: Extra Space Storage Inc.

April 19, 2007 12:39 ET

Extra Space Storage Inc. Announces Planned Filing of Resale Registration Statement in Connection With 3.625% Exchangeable Senior Notes Due 2027

SALT LAKE CITY, UT -- (MARKET WIRE) -- April 19, 2007 -- Extra Space Storage Inc. (the "Company") (NYSE: EXR) today announced that, in connection with the recently completed offering of $250.0 million aggregate principal amount of 3.625% Exchangeable Senior Notes due 2027 (the "Notes") by its operating partnership subsidiary, Extra Space Storage LP (the "Operating Partnership"), the Company intends to file with the Securities and Exchange Commission, on or about May 10, 2007, a resale registration statement on Form S-3 to cover the resales of Extra Space Storage Inc. common stock that may be issued from time to time upon exchange or redemption of the Notes. The resale registration statement is anticipated to be immediately effective upon filing.

Holders of Notes who wish to be named in the prospectus to be contained in the resale registration statement in order to sell the common stock issuable to them upon exchange or redemption of their Notes should complete a selling stockholder notice and questionnaire contained in the offering memorandum for the Notes and return it, no later than April 30, 2007, to: Extra Space Storage Inc., 2795 East Cottonwood Parkway, Suite 400, Salt Lake City, Utah 84121, Attention: Corporate Legal Counsel.

This release is being issued in order to comply with the terms of the indenture and registration rights agreement relating to the Notes. The Company will not receive any of the proceeds from the resale of the common stock issuable upon exchange or redemption of the Notes. This release shall not constitute an offer to sell or the solicitation of an offer to buy any of the Company's or the Operating Partnership's securities, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.

Forward-Looking Statements

When used in this discussion and elsewhere, the words "believes," "anticipates," "projects," "should," "estimates," "expects" and similar expressions are intended to identify forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied in the forward-looking statements. For a further list and description of such risks and uncertainties, please refer to the Company's SEC filings, including its most recent Annual Report on Form 10-K for the year ended December 31, 2006. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact Information

  • For Information:
    James Overturf
    Extra Space Storage Inc.
    (801) 365-4501

    Mark Collinson
    CCG Investor Relations
    (310) 231-8600

    Extra Space Storage Inc.
    PHONE (801) 562-5556
    FAX (801) 562-5579
    2795 East Cottonwood Parkway, Suite 400
    Salt Lake City, Utah 84121
    www.extraspace.com