CLEVELAND, OH--(Marketwire - January 16, 2008) - U-Store-It Trust (NYSE: YSI) announced today that the tax allocations of its 2007 dividend distributions for the Company's common shares of beneficial interest represent 29.4235% ordinary income, 6.3835% capital gain income and 64.1930% return of capital and that the Company intends to release financial results for the three months ended December 31, 2007 on Thursday, February 28, 2008. An accompanying conference call will be held at 11:00 a.m. ET on Friday, February 29, 2008.

The 2007 distributions paid with respect to U-Store-It common stock (CUSIP #91274f104 and traded under ticker symbol YSI) are as follows:



                                             Total   Unrecaptured
                         Total    Ordinary  Capital    Section  Non-Taxable
 Record     Payable  Distribution Dividend    Gain   1250 Gain Distribution
 Date        Date     per share   (Box 1a)  (Box 2a)  (1)(Box 2b)   (Box 3)

1/8/2007    1/22/2007 $    0.29 $ 0.085328 $ 0.018512 $ 0.009010 $ 0.186160
4/9/2007    4/24/2007 $    0.29 $ 0.085328 $ 0.018512 $ 0.009010 $ 0.186160
7/9/2007    7/24/2007 $    0.29 $ 0.085328 $ 0.018512 $ 0.009010 $ 0.186160
10/9/2007  10/26/2007 $    0.29 $ 0.085328 $ 0.018512 $ 0.009010 $ 0.186160
                      --------- ---------- ---------- ---------- ----------
                      $    1.16 $ 0.341312 $ 0.074048 $ 0.036040 $ 0.744640


(1) Amounts in Box 2b are included in Box 2a.

The fourth quarter 2007 distribution made to holders of record as of January 7, 2008 for the common shares is considered a 2008 distribution for federal income tax purposes.

The details of its February 29, 2008 earnings conference call are as follows:

A live Web cast of the conference call will be available online from the investor relations page of the Company's corporate Web site at http://www.u-store-it.com. The dial-in numbers are 1-800-860-2442 for domestic callers and +1 412-858-4600 for international callers.

After the live Web cast, the call will remain available on U-Store-It's web site for 30 days. In addition, a telephonic replay of the call will be available until March 31, 2008. The replay dial-in number is 1-877-344-7529 for domestic callers and +1 412-317-0088 for international callers. The replay pass code for both is 415385#.

About U-Store-It Trust

U-Store-It Trust is a self-administered and self-managed real estate investment trust focused on the ownership, operation, acquisition and development of self-storage facilities in the United States. The Company's self-storage facilities are designed to offer affordable, easily accessible and secure storage space for residential and commercial customers. According to the 2008 Self-Storage Almanac, U-Store-It Trust is one of the top four owners and operators of self-storage facilities in the United States.

Forward-Looking Statements

Certain statements in this release that are not historical fact may constitute forward-looking statements within the meaning of the Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements are based on assumptions and expectations that may not be realized and are inherently subject to risks, uncertainties and other factors, many of which cannot be predicted with accuracy and some of which might not even be anticipated. Although we believe the expectations reflected in these forward-looking statements are based on reasonable assumptions, future events and actual results, performance, transactions or achievements, financial and otherwise, may differ materially from the results, performance, transactions or achievements expressed or implied by the forward-looking statements. Risk, uncertainties and other factors that might cause such differences, some of which could be material, include but are not limited to: national and local economic, business, real estate and other market conditions; the competitive environment in which the Company operates; the execution of the Company's business plan; financing risks; increases in interest rates and operating costs; the Company's ability to maintain its status as a REIT for federal income tax purposes; acquisition and development risks; changes in real estate and zoning laws or regulations; risks related to natural disasters; potential environmental and other liabilities; material weaknesses in our internal financial reporting; and other factors affecting the real estate industry generally or the self-storage industry in particular. The Company refers you to the documents filed by the Company from time to time with the Securities and Exchange Commission, specifically the section titled "Business - Risk Factors" in the Company's Annual Report on Form 10-K, which discuss these and other risks and factors that could cause the Company's actual results to differ materially from any forward-looking statements.

Contact Information: Contact: U-Store-It Trust Christopher P. Marr Chief Financial Officer (610) 293-5700