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December 16, 2004

Shurgard

Wendell J. Smith has retired from the Board of Directors of Seattle-based Shurgard Storage Centers, and Harrell L. Beck has resigned from the board. Smith, who according to Shurgard officials retired for personal reasons, was a board member since 1994. Beck was a board member since 1993; he'll continue on Shurgard's senior management team. The board named President and CEO David K. Grant to Beck's seat; he will stand for election at the annual meeting of stockholders. Also, Jane A. Orenstein has been promoted to vice president, general counsel and corporate secretary. She was assistant general counsel. She replaces Christine M. McKay, who is leaving to spend more time with her family. Shurgard is a real estate investment trust that operates more than 600 storage centers in the United States and Europe.




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