InStorage REIT Announces First Quarter 2007 Results

May 31st, 2007

InStorage Real Estate Investment Trust announced its results of operations for the three months ended March 31, 2007. The company took a net loss during the quarter of $0.9 million or $0.01 per unit. But InStorage is focusing on gaining ground in the Canadian market with an aggressive growth strategy. The high profit margins are sure to come later.

The REIT’s portfolio to 46 properties located in Alberta, Saskatchewan, Ontario and Quebec, with a gross rentable area of 2.6 million square feet and gross book value of real estate assets of approximately $404.0 million. As a result of its acquisitions to date, InStorage has gained a leading presence in the Greater Toronto Area and significant scale in Alberta, two very important markets due to their size and economic growth.

“Our growth continues as we build our presence as the leading consolidator in the Canadian self-storage business,” said T. James Tadeson, Chief Executive Officer. “We have successfully closed all acquisitions
announced to date and remain optimistic about the potential for further growth. We have taken significant steps towards the integration of the properties acquired within our property management structure and we will be rolling out the InStorage brand across our properties during the year.”

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