Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
Pruitt Gary E
   2. Issuer Name and Ticker or Trading Symbol
Public Storage [PSA] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
C/O PUBLIC STORAGE, 701 WESTERN AVENUE		 3. Date of Earliest Transaction (Month/Day/Year)
05/08/2008
(Street)

GLENDALE, CA 91201		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock               1,312 (2) D  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (right to buy) (5) $ 91.81 05/08/2008   A   5,000   05/08/2009 05/08/2018 Common Stock 5,000 $ 0 5,000 D  
Stock Option (right to buy) (5) $ 74.23             08/02/2008 08/02/2017 Common Stock 2,500   2,500 D  
Stock Option (right to buy) (5) $ 91.68             05/03/2008 05/03/2017 Common Stock 2,500   2,500 D  
Stock Option (right to buy) (1) $ 85.5             08/22/2007 08/22/2016 Common Stock 15,000   15,000 D  
Stock Option (right to buy) (3) $ 51.35             08/22/2006 08/22/2015 Common Stock 8,200   8,200 D  
Stock Option (right to buy) (4) $ 70.38             08/22/2006 08/22/2015 Common Stock 4,920   4,920 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Pruitt Gary E
C/O PUBLIC STORAGE
701 WESTERN AVENUE
GLENDALE, CA 91201		   X      

Signatures

 /s/ Stephanie G. Heim   05/09/2008
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Stock Options granted pursuant to the 2001 Stock Option and Incentive Plan; options vest in 3 equal annual installments beginning 1 year from grant date.
(2) Received in exchange for 1,600 shares of Class A common stock of Shurgard Storage Centers, Inc. (SHU) in connection with the merger (the Merger) of SHU into an affiliate of Public Storage, Inc. (PSA). On the effective date of the Merger, the closing price of SHU common stock was $71.16 per share and the closing price of PSA common stock was $85.50..
(3) Received in the Merger in exchange for an employee stock option to acquire 10,000 shares of SHU Class A common stock for $42.10 per share.
(4) Received in the Merger in exchange for an employee stock option to acuire 6,000 shares of SHU Class A common stock for $57.71 per share.
(5) Stock Options granted pursuant to the 2007 Equity and Performance-Based Incentive Compensation Plan; options vest in 3 equal annual installments beginning 1 year from grant date.

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