U-Store-It Trust is a self-administered and self-managed real estate company focused primarily on the ownership, operation, acquisition and development of self-storage facilities in the United States. As of December 31, 2008, the Company owned 387 self-storage facilities located in 26 states and aggregating approximately 25 million rentable square feet. These facilities were approximately 78.9% leased to approximately 170,000 tenants and no single tenant accounted for more than 1% of annual rental revenue. The Company conducts all of its business through its operating partnership, U-Store-It, L.P., of which it serves as general partner, and its subsidiaries. As of December 31, 2008, it held approximately 91.9% of the aggregate partnership interests in the operating partnership.