SALT LAKE CITY, UT--(MARKET WIRE)--Nov 25, 2008 -- Extra Space Storage Inc. (the "Company") (NYSE: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 December 31, 2008 to stockholders of record at the close of business on December 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 684 self-storage properties in 33 states and Washington, D.C. The Company's properties comprise approximately 468,000 units and over 50 million square feet of rentable space. 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