Shurgard Announces Third Quarter Dividend

Shurgard Storage Centers, Inc. (NYSE:SHU), a leading
self-storage real estate investment trust in the United States and
Europe, today announced that the Board of Directors declared a third
quarter dividend of $0.56 per share. The dividend is payable on
December 5, 2005, to shareholders of record as of November 25, 2005.

   About Shurgard Storage Centers, Inc.

   Shurgard Storage Centers, Inc. is a real estate investment trust
headquartered in Seattle, Washington. Shurgard specializes in all
aspects of the self-storage industry and operates a network of over
644 operating storage centers located throughout the United States and
in Europe.

   Forward-Looking Statements

   This press release contains statements that are not based on
historical fact and are "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995.
Statements in this release concerning the beliefs, expectations,
intentions, future events, future performance, business prospects and
business strategy in the United States and Europe, including
statements regarding projections for 2005 and beyond, are based on
several assumptions. If any of these assumptions are not satisfied or
prove to be incorrect, actual results could differ materially from
those indicated in the forward-looking statements, depending on a
variety of factors including, but not limited to, Shurgard's ability
to implement its business strategy, competition in the market, as well
as other risk factors.
   For a discussion of additional risks and other factors that could
affect these forward-looking statements and Shurgard's financial
performance, see Shurgard's report on Form 10-K for the year ended
December 31, 2004, filed with the SEC on March 29, 2005, report on
Form 10-Q for the quarter ended March 31, 2005, filed with the SEC on
May 10, 2005, report on Form 10-Q for the quarter ended June 30, 2005,
filed with the SEC on August 9, 2005, its report on Form 10-K/A for
the year ended December 31, 2004, filed with the SEC on October 14,
2005, and its report on Form 10-Q for the quarter ended September 30,
2005, filed with the SEC on November 9, 2005. Forward-looking
statements are based on estimates as of the date of this release.
Except as required by law, we disclaim any obligation to publicly
update these forward-looking statements reflecting new estimates,
events or circumstances after the date of this release.