Mobile Mini, Inc. Acquires Mobile Storage Systems, Inc. and Enters Rapidly Growing Salt Lake City Market

Business Wire, July 2, 1999

TEMPE, Ariz.--(BUSINESS WIRE)--July 2, 1999--

Mobile Mini, Inc. (NASDAQ National Market: MINI) today announced that it has completed the acquisition of the privately owned Mobile Storage Systems, Inc., a portable storage company operating in Salt Lake City, Utah. The $1.6 million purchase price was paid in cash at closing.

In a joint statement by Mobile Mini's Chairman, Richard Bunger, and President and Chief Executive Officer, Steven Bunger, the executives stated, "We have been eyeing Salt Lake City as a target market for some time now. Greater Salt Lake City is home to 1.2 million residents, a number that is expected to swell as the 2002 Winter Olympics approaches. This acquisition has given us a strong foothold in this growing geographic market and healthy local economy. The newly acquired business will now be our springboard for accelerated growth as our new associates in Salt Lake City implement Mobile Mini's operating practices, marketing strategy and overall business plan to this our 17th branch."

"Thus far in 1999," stated Larry Trachtenberg, Executive Vice President and Chief Financial Officer, "we have entered five new geographic markets, as compared to three new markets for all of 1998. We have the capital structure in place to support additional acquisitions this year."

Mobile Mini, Inc. is a leading provider of portable storage solutions through its lease fleet of over 33,000 portable storage units. The Company currently operates 17 branches located in nine states.

This document may contain some forward looking statements, particularly regarding operating prospects for 1999, which involve a number of risks and uncertainties that could cause actual results to differ materially. These risk factors are listed from time to time in the Company's SEC filings.