U-Store-It Trust Announces Tax Allocations of 2010 Dividend Distributions

| Source: U-Store-It Trust U-Store-It Trust

WAYNE, PA--(Marketwire - January 18, 2011) - U-Store-It Trust (NYSE: YSI), a self-administered and self-managed real estate investment trust focused primarily on self-storage facilities, announced today that the tax allocations of its 2010 dividend distributions for the Company's common shares of beneficial interest represent 100% ordinary dividend income. The 2010 distributions paid with respect to U-Store-It common stock (CUSIP #91274f104 and traded under ticker symbol YSI) are as follows:

Record Date   Payable Date   Total Distribution per share   Ordinary Dividend (Box 1a)   Total Capital Gain (Box 2a)   Unrecaptured Section 1250 Gain (1) (Box 2b)   Non-Taxable Distribution (Box 3)
                         
1/7/2010   1/22/2010   $ 0.025   $ 0.025   $ 0.00   $ 0.00   $ 0.00
4/7/2010   4/22/2010   $ 0.025   $ 0.025   $ 0.00   $ 0.00   $ 0.00
7/7/2010   7/22/2010   $ 0.025   $ 0.025   $ 0.00   $ 0.00   $ 0.00
10/7/2010   10/22/2010   $ 0.025   $ 0.025   $ 0.00   $ 0.00   $ 0.00
        $ 0.10   $ 0.10   $ 0.00   $ 0.00   $ 0.00
  1. Amounts in Box 2b are included in Box 2a.

The fourth quarter 2010 distribution made to holders of record as of January 7, 2011 for the common shares is considered a 2011 distribution for federal income tax purposes.

About the Company

U-Store-It Trust is a self-administered and self-managed real estate investment trust. The Company provides self-storage solutions across the country. U-Store-It owns and or manages 456 facilities across the United States, and operates the U-Store-It Network, which consists of approximately 719 additional self-storage facilities. The Company's self-storage facilities, storage space and storage solutions are designed to offer affordable, easily accessible, secure, and in most locations, climate-controlled storage space for residential and commercial customers, as well as boat storage and mini storage. According to the 2009 Self Storage Almanac, U-Store-It Trust is one of the top four owners and operators of self-storage facilities in the U.S. For more information, visit www.ustoreit.com.

Visitors may go online to http://www.ustoreit.com to learn more about the company and to find a nearby storage facility. Visitors to ustoreit.com can also view the sizes and features of individual self-storage units, reserve storage space, and pay their storage bills online using a safe, secure online payment function.

For more information about business or personal storage call U-Store-It toll free at 1-888-U-STORE-IT.