Over-Allotment Notice

Safestore Holdings PLC 28 March 2007 Not for release or distribution or publication in whole or part, directly or indirectly, in, or into, the United States, Canada, Japan or Australia. SAFESTORE HOLDINGS PLC ANNOUNCEMENT OF EXERCISE OF OVER-ALLOTMENT ARRANGEMENTS Safestore Holdings plc (the "Company") announces that, in connection with the initial public offering of the Company (the "Offer"), Citigroup Global Markets U.K. Equity Limited ("Citigroup") as stabilising manager, on behalf of itself and Merrill Lynch International has today given notice to exercise the over-allotment option in respect of 12,097,980 ordinary shares ("Ordinary Shares") of the Company. None of the proceeds arising from the exercise of the over-allotment option will be payable to the Company. Following the transfer of Ordinary Shares pursuant to the over-allotment option: • 99,054,505 Ordinary Shares will be held in public hands representing a free float of approximately 52.9% of the issued share capital of the Company; and • funds managed or advised by Bridgepoint Capital Limited will own 35.1% of the Company's issued shares. This announcement may not be distributed, directly or indirectly, in or into the United States, Canada, Australia or Japan. This announcement does not constitute or form part of an offer or invitation to sell or issue, or any solicitation of an offer to buy or subscribe for, any securities referred to herein. • Any purchase of or application for securities of the Company pursuant to the Offer should only be made on the basis of the information contained in the formal prospectus published on 9 March 2007 in connection with the Offer (the "Prospectus"). The Prospectus contains detailed information about the Company and its management, as well as financial statements and other financial data. Copies of the Prospectus are available from Safestore Holdings plc, Brittanic House, Stirling Way, Borehamwood WD6 2BT. Citigroup Global Markets U.K. Equity Limited and Merrill Lynch International are authorised and regulated by the Financial Services Authority, are acting for the Company in connection with the Offer and for no one else and will not be responsible to anyone other than the Company for providing the protections afforded to their respective clients or for providing advice in relation to the Offer, the contents of this announcement or any matters referred to herein. The information contained herein is not for publication or distribution in the United States of America. These materials do not contain or constitute an offer of securities for sale in the United States. The securities in Safestore Holdings plc have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration under that Act or an available exemption from it. The Company and the selling security holders do not intend to register the securities or conduct a public offering in the United States. The Offer and the distribution of this announcement and other information in connection with the Offer in certain jurisdictions may be restricted by law and persons into whose possession any document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. For Enquiries: Citigroup Global Markets U.K. Equity Limited Darrell Uden, +44 (0)20 7986 0410 This information is provided by RNS The company news service from the London Stock Exchange