Joint News Release

   Public Storage Properties XIV, Inc.
   Public Storage, Inc.
   701 Western Avenue
   P.O. Box 25050
   Glendale, CA  91221-5050
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                               For Release:     Immediately
                               Date:            December 5, 1996
                               Contact:         Mr. Harvey Lenkin
                                                (818) 244-8080

   GLENDALE, California--Public Storage Properties XIV, Inc. (AMEX:PSP) and
   Public Storage, Inc. (NYSE:PSA) announced today that the corporations
   had agreed, subject to certain conditions, to merge.  In the merger, PSP
   would be merged with and into PSA, and each outstanding share of PSP's
   Common Stock Series A would be converted, at the election of the
   shareholders of PSP, into either shares of PSA Common Stock or, with
   respect to up to 20% of the PSP Common Stock, $21.73 in cash.  This
   dollar amount has been based on PSP's estimated net asset value (the
   appraised value of PSP's real estate assets as of October 31, 1996 and
   the estimated book value of PSP's other net assets as of March 1997).
   The number of shares of PSA Common Stock will be based on dividing this
   same dollar amount by the average of the per-share closing prices on
   the New York Stock Exchange for a specified period prior to PSP's
   shareholders' meeting.  In the event of the merger, additional
   distributions would be made to shareholders of PSP to cause PSP's
   estimated net asset value as of the effective date of the merger to be
   substantially equivalent to its estimated net asset value as of March
   1997.  If additional distributions are required in order to satisfy
   PSP's real estate investment trust distribution requirements, the number
   of shares of PSA's Common Stock issued in the merger and the amount
   receivable upon a cash election would be reduced on a pro rata basis
   in an aggregate amount equal to such distributions.  The merger is
   conditioned on, among other requirements, approval by PSA's board of
   directors, receipt of a satisfactory fairness opinion by PSP and
   approval by the shareholders of PSP.  It is expected that any merger
   would close during the first half of 1997.

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