Trading Update

Safestore Holdings PLC
12 November 2007



FOR IMMEDIATE RELEASE                                          12 NOVEMBER 2007


                             Safestore Holdings plc
          Pre-close trading update for the year ended 31 October 2007

Safestore Holdings plc ('Safestore' or 'the Company'), the largest self storage
retailer in the UK and Paris, is pleased to report on its trading progress for
the 12 months ended 31 October 2007.


Financial Highlights*
                                   2007           2006          Change

Revenue for full year             £74.3m         £64.3m         15.5%

Like-for-like revenue             £72.6m         £63.7m         14.1%

Revenue for second half           £39.7m         £34.4m         15.5%

Closing occupancy (sq ft)**     2,911,000      2,710,000         7.4%


*  Unaudited figures
** This represents an 115,000 sq ft increase over the closing occupancy at the
   half year.


Property Portfolio

  • During the financial year we successfully opened six new stores (Slough,
    Guildford, Hayes, Newcastle, Eastbourne, Kremlin Bicetre - Paris) and two
    satellite stores in Burnley and Stevenage. The new, purpose built freehold
    facility in Eastbourne has allowed us to relocate from our leasehold
    facility which has now closed.

  • The pipeline for expansion stores has increased to eighteen (properties
    that have been acquired or are under contract) of which two (Dobbies Loan
    and Rutherglen) are expected to open by the end of 2007. Of the remaining
    pipeline stores, nine are due to open in 2008 with a further six planned to
    open in 2009/10.

  • Of the expansion stores 14 are freehold/long leasehold, four are short
    leaseholds and ten have planning permission.

Steve Williams, Chief Executive Officer, commented:

'We have continued to deliver on our key performance indicators. Increased
enquiries resulted in a strong number of new lets. We continue to see growth in
occupancy, increased rates per sq ft and ancillary sales growth which have all
contributed to the uplift in revenues.

'The retail focus of our business model and our operational expertise has
contributed to a robust performance which underpins the resilient nature of
Safestore.

'The pipeline of new stores has continued to increase and is on track to deliver
our stated objective of 7 to 10 new stores per annum for both 2008 and 2009.

'The Board of Safestore believes that the Company is well positioned to continue
the growth of the business.'

Safestore will be announcing full year results on 22 January 2008.


                                      Ends


For further information, please contact:

Safestore Holdings PLC                                 T: 020 8732 1500
Steve Williams, Chief Executive
Richard Hodsden, Chief Financial Officer

Cardew Group                                           T: 020 7930 0777
Nadja Vetter / Sofia Rehman / David Roach


Notes to editors:

  • Safestore is the largest self storage provider in the UK and the central
    Paris region and the second largest in the EU, in terms of number of stores,
    providing individual, secure self storage space and related services. Over
    the past four years, the number of stores increased from 24 to 103 - 83 of
    which operate under the 'Safestore' brand in the UK and 20 of which operate
    under the 'Une Piece en Plus' brand in France

  • The UK is the largest and most established self storage market in Europe.
    The UK and French markets show lower penetration rates than the US or
    Australia and, according to the UK Self Storage Association the UK market is
    expected to grow with a CAGR of 10 to 15 per cent.

  • This growth is supported by a number of market trends including:
    increased workforce mobility, social factors such as high divorce rates and
    an ageing population, housing stock pressure in the UK and lifestyle trends
    such as the growth in the home improvement market.

  • Safestore currently has approximately 39,000 domestic and business
    customers with an average length of stay of 77 weeks for current users. The
    Group's business model is supported by a substantial asset base, strong
    cashflow and a solid record of earnings which are continuing to grow.




                      This information is provided by RNS
            The company news service from the London Stock Exchange