Summary of U-STORE-IT TRUST

Item 7.01. Regulation FD Disclosure.

U-Store-It Trust (NYSE: YSI), a national self-storage company offering storage facilities, service and solutions, announced today it has obtained four secured term loans totaling $37.4 million. The loans carry a weighted-average interest rate of 7.2 percent and are secured by 17 of the company's self-storage properties in various locations throughout the country. One of the loans has a 10-year maturity; one of the loans has a five-year maturity; and two of the loans each have a five-year maturity, subject to a five-year extension at U-Store-It's option. The company also closed on the sale of a single property for proceeds of $5.9 million.

To date in calendar 2009, U-Store-It has raised a total of $51.4 million through five secured loans and $11.7 million through three property dispositions. The loans have a weighted-average interest rate of 7.1 percent and maturities ranging from five to ten years. The three assets sold were located in Florida, New Mexico and California.

As of June 30, 2009 the Company has $146 million of borrowing capacity under its $250 million credit facility; an increase of $68 million of availability since December 31, 2008. Additionally, the company has reduced outstanding borrowings on its secured term loan by approximately $11 million and repaid one mortgage that matured in June, 2009 for $1.6 million.

The Company's press release announcing the term loans and property disposition is furnished as Exhibit 99.1.

This information is being "furnished" to the SEC pursuant to Regulation FD and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Exchange Act or the Securities Act of 1933, as amended (the "Securities Act"), except as expressly set forth by specific reference in such a filing.