SALT LAKE CITY, UT--(MARKET WIRE)--Aug 29, 2008 -- Extra Space Storage Inc. (the "Company") (EXR - News) announced today that its board of directors has declared a quarterly dividend of $0.25 per share on the common stock of the Company. On an annualized basis, the dividend represents a distribution of $1.00 per share of common stock. The dividend is payable on September 30, 2008 to stockholders of record at the close of business on September 15, 2008.

About Extra Space Storage Inc.

Extra Space Storage Inc., headquartered in Salt Lake City, Utah, is a fully integrated, self-administered and self-managed real estate investment trust that owns and/or operates 673 self-storage properties in 33 states and Washington, D.C. The Company's properties comprise approximately 461,000 units and 49 million square feet rented by more than 300,000 individual tenants. The Company is the second largest owner and/or operator of self-storage properties in the United States.

     For Information:
     James Overturf
     Extra Space Storage Inc.
     (801) 365-4501
      
     Mark Collinson
     CCG Investor Relations
     (310) 477-9800
      
     Extra Space Storage Inc.
     PHONE (801) 562-5556
     FAX (801) 562-5579
     2795 East Cottonwood Parkway, Suite 400
     Salt Lake City, Utah 84121
     http://www.extraspace.com