Friday, July 15, 2005

The Jackson verdict is incredible not because he was found not guilty - but because we saw a jury, in the highest-profile case imaginable, buying into none of the hype we were relentlessly throwing at it (and everybody else). . Such factors
include, but are not limited to, changes in general economic conditions and in
the markets in which the Company operates:

* the effect of competition from new self-storage facilities or other
storage alternatives, which would cause rents and occupancy rates to
decline;
* the Company's ability to effectively compete in the industry in which
it does business;
* difficulties in the Company's ability to evaluate, finance and
integrate acquired and developed properties into the Company's
existing operations and to fill up those properties, which could
adversely affect the Company's profitability;
* the impact of the regulatory environment as well as national, state,
and local laws and regulations including, without limitation, those
governing Real Estate Investment Trusts, which could increase the
Company's expense and reduce the Company's cash available for
distribution;
* difficulties in raising capital at reasonable rates and on reasonable
terms, which could impede the Company's ability to grow; and
* delays in the development and construction process, which could
adversely affect the Company's profitability; and economic uncertainty
due to the impact of war or terrorism which could adversely affect its
business plan.