SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) February 10, 1998
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Public Storage, Inc.
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(Exact name of registrant as specified in its charter)
California 1-8389 95-3551121
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(State or other juris- (Commission (IRS Employer
diction of incorporation) File Number) Identification No.)
701 Western Avenue, Glendale, California 91201-2397
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(Address of principal executive office) (Zip Code)
Registrant's telephone number, including area code (818) 244-8080
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N/A
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(Former name or former address, if changed since last report)
Item 5. Other Events
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On January 13, 1998, the Securities and Exchange Commission declared
effective the Registration Statement on Form S-3 (No. 333-41123) of Public
Storage, Inc. (the "Company"), which together with the securities previously
registered pursuant to the Company's Registration Statement on Form S-3 (No.
333-18395), permits the Company to issue an aggregate of $700,000,000 of
preferred stock, depositary shares, equity stock, common stock and warrants.
On February 10, 1998, the Company's Board of Directors increased the number
of authorized directors of the Company from seven to eight and elected Thomas J.
Barrack, Jr. as a director of the Company.
Thomas J. Barrack, Jr., age 50, has been the Chairman and Chief Executive
Officer of Colony Capital, Inc. since September, 1991. Colony Capital, Inc. is
one of the largest real estate investors in America, having acquired properties
in the U.S., Europe and Asia. Prior to founding Colony Capital, Inc., from 1987
to 1991, Mr. Barrack was a principal with the Robert M. Bass Group, Inc., the
principal investment vehicle for Robert M. Bass of Fort Worth, Texas. From 1985
to 1987, Mr. Barrack was President of Oxford Ventures, Inc., a Canadian-based
real estate development company. From 1984 to 1985 he was Senior Vice President
at E.F. Hutton Corporate Finance in New York. Mr. Barrack was appointed by
President Ronald Reagan as Deputy Under Secretary at the U.S. Department of the
Interior from 1982 to 1983. Mr. Barrack currently is a director of Continental
Airlines, Inc. and Virgin Entertainment Group, Ltd.
Item 7. Financial Statements and Exhibits
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(c) Exhibits.
Exhibit 1.1 - Underwriting Agreement.
Exhibit 3.1 - Amendment to Bylaws Adopted on February 10, 1998.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
PUBLIC STORAGE, INC.
By: /s/ DAVID GOLDBERG
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David Goldberg
Senior Vice President
and General Counsel
Date: February 12, 1998