InStorage Real Estate Investment Trust
TSX : IS.UN

InStorage Real Estate Investment Trust

March 18, 2008 17:03 ET

InStorage REIT Announces Strategic Alliance With Discount Car and Truck Rentals

TORONTO, ONTARIO--(Marketwire - March 18, 2008) - InStorage Real Estate Investment Trust ("InStorage" or the "REIT") (TSX:IS.UN) announced today a strategic alliance with Discount Car and Truck Rentals, with immediate effect.

Discount is the largest Canadian owned truck rental provider, with over 300 locations in Canada from coast to coast, as well as locations in Australia. Discount will be InStorage's exclusive third party provider of rental trucks across InStorage's owned and managed self storage locations. Through this alliance, InStorage's customers will be able to select from a complete range of late-model trucks to meet their storage transportation needs.

This new alliance will also include cross-promotional efforts by both InStorage and Discount Car and Truck Rentals including call centre referrals, joint corporate customer marketing initiatives, co-branding of websites and yellow pages and the co-branding of a number of trucks in each market where both InStorage and Discount are represented.

"InStorage is Canada's largest national provider of self storage space, with multiple locations in many key markets and an aggressive growth plan. The self storage industry and the truck rental business are very complimentary for both our customers, thus providing for many natural synergies. We're pleased to be able to offer our large fleet of well maintained trucks to InStorage's customers to help ensure that their valuable possessions have the best transportation," said Herb Singer, President and Founder of Discount Car and Truck Rentals.

"Our new alliance with Discount Car and Truck Rentals will provide our customers with convenient access to truck rentals and will increase market awareness of both brands. Discount's customers will benefit from InStorage's clean, secure and convenient locations for their storage requirements, and will be able to save valuable time in the moving and storage process." Said Tom Gualtieri, President and Chief Operating Officer of InStorage REIT. "InStorage and Discount share a commitment to delivering the highest level of service and value to our customers, and this alliance will benefit our customers who need storage space and transportation to move their valuables. In addition to this being a win-win for our customers, this alliance will help both of our organizations to increase consumer awareness, sales and market share."

InStorage Real Estate Investment Trust

The REIT is an unincorporated open-ended real estate investment trust that invests primarily in self-storage properties throughout Canada. The REIT is the largest owner operator of self-storage facilities in Canada and is the country's leading self-storage industry consolidator, with a current portfolio of 52 self-storage properties located in Alberta, Saskatchewan, Ontario and Quebec.

Additional information concerning the REIT may be obtained on the REIT's website, www.instoragereit.ca, and on the SEDAR website at www.sedar.com, under the REIT's profile.

Forward-Looking Information

This press release contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the REIT to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Examples of such statements include: the intention to implement cross promotional efforts with Discount; the expected realisation of synergies and customer benefits; and the increased consumer awareness, sales and market share anticipated to result from the alliance with Discount. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this press release. Such forward-looking statements are based on a number of assumptions which may prove to be incorrect, including, but not limited to: the ability of the REIT and Discount to effectively implement cross promotional initiatives and the efficiencies to be realised therefrom; the benefits to be gained by the respective customers of InStorage and Discount as a result of the alliance; the complementary nature of the services provided by InStorage and Discount; the positive impact that cross promotion with Discount will have on consumer awareness, sales and market share of InStorage; and competitive market conditions. These forward-looking statements should not be relied upon as representing the REIT's views as of any date subsequent to the date of this press release. Although the REIT has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Contact Information

  • InStorage Real Estate Investment Trust
    T. James Tadeson
    Chief Executive Officer
    (416) 867-9705
    or
    InStorage Real Estate Investment Trust
    Tom Gualtieri
    President and Chief Operating Officer
    (416) 867-9701
    Website: www.instoragereit.ca