LSI Life Storage Inc

Sovran Self Storage, Inc. (NYSE:SSS), a self storage real estate investment trust (REIT), announced today the tax allocations of the Company’s 2010 dividend distributions on its common stock (CUSIP #84610H108). The allocations will be reported on Form 1099-DIV as follows:

                  Total                   Unrecap. Record Payable Ordinary Capital Return of Total Sec. 1250 Date       Date       Dividends       Gain      

Capital (1)

      Dividends      

Gain (2)

01/14/10       01/26/10       0.326250       0.065250       0.058500       0.450000       0.033750 04/12/10       04/26/10       0.326250       0.065250       0.058500       0.450000       0.033750 07/12/10       07/26/10       0.326250       0.065250       0.058500       0.450000       0.033750 10/11/10       10/26/10       0.326250       0.065250       0.058500       0.450000       0.033750 Total               1.305000      

0.261000

     

0.234000

     

1.800000

     

0.135000

(1) Represents a return of stockholders’ original investment.(2) Represents additional characterization of amounts included in Total Capital Gain.

Shareholders are encouraged to consult their personal tax advisor with regard to their specific tax treatment of dividends.

Forward Looking Statements:

When used within this news release, the words “intends,” “believes,” “expects,” “anticipates,” and similar expressions are intended to identify “forward looking statements” within the meaning of that term in Section 27A of the Securities Act of 1933, and in Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied by such forward looking statements. Such factors include, but are not limited to, the effect of competition from new self storage facilities, which could cause rents and occupancy rates to decline; the Company’s ability to evaluate, finance and integrate acquired businesses into the Company’s existing business and operations; the Company’s existing indebtedness may mature in an unfavorable credit environment, preventing refinancing or forcing refinancing of the indebtedness on terms that are not as favorable as the existing terms; interest rates may fluctuate, impacting costs associated with the Company’s outstanding floating rate debt; the Company’s ability to comply with debt covenants; the future ratings on the Company’s debt instruments; the regional concentration of the Company’s business may subject it to economic downturns in the states of Florida and Texas; the Company’s ability to effectively compete in the industries in which it does business; the Company’s reliance on its call center; the Company’s cash flow may be insufficient to meet required payments of principal, interest and dividends; and tax law changes which may change the taxability of future income.

About the Company:

Sovran Self Storage, Inc. is a self-administered and self-managed equity REIT that is in the business of acquiring and managing self storage facilities. The Company operates 371 self storage facilities in twenty-four states under the name "Uncle Bob's Self Storage"®.

For more information, please contact David L. Rogers, CFO or Diane Piegza, VP Corporate Communications at 716-633-1850 or browse the Company’s Web Site at www.unclebobs.com/company.