InStorage Real Estate Investment Trust
TSX VENTURE : IS.UN

InStorage Real Estate Investment Trust

February 14, 2008 18:47 ET

InStorage REIT Announces TSX Listing Approval

TORONTO, ONTARIO--(Marketwire – Feb. 14, 2008) –

Attention Business Editors:

InStorage Real Estate Investment Trust ("InStorage" or the "REIT")(TSX VENTURE:IS.UN) announced today that the Toronto Stock Exchange ("TSX") has approved the listing of its units. The REIT's units are expected to commence trading on the TSX on Wednesday, February 20, 2008, under their existing symbol "IS.UN".

Immediately prior to listing on the TSX, the units of InStorage will be consolidated on an eight-to-one (8:1) basis, as approved by the unitholders of the REIT at the June 7, 2007 annual and special meeting of the unitholders. The limited partnership units of InStorage Limited Partnership will be consolidated on the same basis as and concurrently with the units of the REIT.

There are currently 185,453,879 units of the REIT outstanding. On a post-consolidation basis, there will be approximately 23,181,735 units of InStorage outstanding.

"We are pleased to graduate to the TSX and complete our unit consolidation. These concurrent events represent a milestone for us, and take us another important step forward in the execution of our business plan," stated T. James Tadeson, Chief Executive Officer. "We look forward to the increased visibility and liquidity we believe a listing and consolidation on the principal Canadian Stock Exchange will deliver for the REIT and our unitholders. We planned for both of these events from Day One, and it's exciting to be able to continue to deliver on our stated objectives."

InStorage REIT

InStorage is an unincorporated open-ended real estate investment trust that invests primarily in self-storage properties and ancillary businesses 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 InStorage 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 anticipated listing of the units on the TSX and concurrent consolidation, as well as potential benefits that may be derived therefrom. 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 completion of necessary administrative steps for the listing and consolidation and the ability of a TSX listing to provide greater visibility for the REIT and increased liquidity for unitholders. While the REIT anticipates that subsequent events and developments may cause its views to change, it specifically disclaims any obligation to update these forward-looking statements. These forward-looking statements should not be relied upon as repressenting the REIT's views as o 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
    Alay Shah Chief Financial Officer (416) 867-9740 Website: www.instoragereit.ca