Public Storage Expects to Pack Away up to $1.9 Million in

Public Storage Expects to Pack Away up to $1.9 Million in Annual Energy and Maintenance Savings with GE LED Lighting

EAST CLEVELAND, Ohio — October 4, 2012 — (NYSE: GE) — Public Storage, the world’s largest owner and operator of self-storage facilities, is expected to save up to $1.9 million in lighting costs annually after changing the way it illuminates its exterior signage. The company recently began replacing existing T12HO fluorescent lamps with GE Lighting’s LED sign lighting solutions at its more than 2,000 locations. Its bright orange and purple box signs and pole signs help the company stand out, but with as many as eight signs at each property, electricity and maintenance costs quickly add up.

“Each property is unique. We have multiple buildings at each location that can be single-story or multi-story buildings, which has made it difficult to standardize lighting and has led to varied repair and maintenance costs throughout our portfolio,” said Robbie Williams, vice president of facilities for Public Storage. “A third party maintains our LED signage lighting, which costs up to $1,000 per year per location including energy and upkeep. We really needed to standardize lighting and maintain information in one database while reducing our costs.”

Public Storage initially considered switching to T8 fluorescent lamps, but chose to focus on LED sign lighting technology as pricing has become more competitive and light quality has improved. After meeting with several manufacturers and reviewing data on a number of LED products, Public Storage chose GE Tetra® PowerStrip LED sign lighting to replace the T12 fluorescent tubes in its single-sided and double-sided box signs at each of its more than 2,000 properties.

In it for the long haul
“We’ve had previous experience with other LED manufacturers, and a lot are now out of business. We wanted a stable company that would be here to be a partner for the longer term. GE Lighting is a pioneer in the industry and has an excellent reputation with quality, reliable LED systems,” said Williams.

Approximately 150 locations will be retrofitted this year with all properties completed in the next three to five years. Each property is expected to reduce sign lighting energy consumption by 73 percent, saving an average of $799 per property over five years (based on a $.11 kWh electricity rate and 10 hours of use per day).

Less maintenance, more savings
With a 50,000-hour life rating—or the equivalent of more than 13 years at 10 hours of use per day—Williams anticipates even larger savings to come from reduced maintenance costs. She said the average lifespan for signage bulbs today is approximately three years, but that can vary by location because there hasn’t been a single lighting standard to date. At an average cost of $500 to $800 per year for maintenance, Public Storage has the potential to save between $1 and $1.6 million in annual maintenance costs.

“We now have one spec with GE Tetra PowerStrip so we will have standardized signage lighting across all locations and the ability to track warranties. When combined with long life and quality construction, we will greatly lower ongoing maintenance costs and maintain brand consistency by minimizing sign outages,” added Williams.

The GE Tetra PowerStrip LED sign lighting system also offers easy installation through a low-voltage rail system that does not require the construction of sockets for mounting. The system can be cut for easy installation in retrofit signs of any size. The system delivers improved visual performance through OptiLens™ – a patented optical lens technology that helps spread light across a wide viewing angle for uniform light distribution across the entire sign face.

Visit www.gelighting.com to learn more about LED and other energy-saving lighting technologies from GE. As well:

• To read more about Public Storage, please visit www.gelighting.com/LightingWeb/na/case-studies/public-storage.jsp
• To read other GE Lighting case studies, please visit: http://www.gelighting.com/LightingWeb/na/case-studies/
• To receive GE Lighting newsletters, sign up at: http://www.gelighting.com/LightingWeb/na/contact-us/
• For more information on GE’s Tetra PowerStrip LED sign lighting products, click here: http://www.gelightingsolutions.com/products--...d-lighting

About Public Storage
Public Storage, a member of the S&P 500 and FT Global 500, is a fully integrated, self-administered and self-managed real estate investment trust that primarily acquires, develops, owns and operates self-storage facilities. The Company’s headquarters are located in Glendale, California. As of June 30, 2012, the Company had interests in 2,068 self-storage facilities located in 38 states with approximately 132 million net rentable square feet in the United States and 189 storage facilities located in seven Western European nations with approximately ten million net rentable square feet operated under the “Shurgard” brand. The Company also owns a 42% common equity interest in PS Business Parks, Inc. (NYSE SB) which owned and operated approximately 28.2 million rentable square feet of commercial space, primarily flex, multi-tenant office and industrial space, as of August 31, 2012.

About GE Lighting
GE Lighting invents with the vigor of its founder Thomas Edison to develop energy-efficient solutions that change the way people light their world in commercial, industrial, municipal and residential settings. The business employs over 16,000 people in more than 100 countries, and sells products under the Reveal® and Energy Smart® consumer brands, and Evolve™, GTx™, Immersion™, Infusion™, Lumination™ and Tetra® commercial brands, all trademarks of GE. General Electric (NYSE: GE) works on things that matter to build a world that works better. For more information, visit www.gelighting.com .

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