Smartstop Self Storage

Extra Space Storage Inc. is a self-administered and self-managed real estate investment trust (REIT) formed to own, operate, manage, acquire, develop and redevelop professionally managed self-storage facilities. As of December 31, 2008, it held ownership interests in 627 operating properties. Of these 627 operating properties, 279 are wholly owned and 348 are owned in joint-venture partnerships. An additional 67 operating properties are owned by franchisees or third parties and operated by the Company in exchange for a management fee. These operating properties are located in 33 states and Washington, D.C. and contain approximately 50 million square feet of net rentable space in approximately 475,000 units and serve a customer base of over 300,000 tenants as of December 31, 2008. During 2008, the Company acquired 11 wholly owned properties and completed the development of nine properties in its core markets.