Extra Space Storage Inc. Reiterates Previously Announced First Quarter 2009 Dividend

Market Wire, February, 2009

Extra Space Storage Inc. (the "Company") (NYSE: EXR) reiterated today that the Company's board of directors has declared a quarterly dividend of $0.25 per share on the common stock of the Company for the first quarter 2009. The dividend was previously announced in the Company's fourth quarter and year-end 2008 press release on February 18, 2009. The dividend is payable on March 31, 2009 to stockholders of record at the close of business on March 13, 2009.

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 694 self-storage properties in 33 states and Washington, D.C. The Company's properties comprise approximately 475,000 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 PHONE (801) 562-5556 FAX (801) 562-5579 2795 East Cottonwood Parkway, Suite 400 Salt Lake City, Utah 84121 www.extraspace.com