Executive Summary of Executive Self Storage Associates, Inc.

Executive Self Storage Associates, Inc. (ESSA) was incorporated in the State of Arizona on June 11, 1987 and is headquartered in Denver, Colorado with regional offices in Southern California and Florida. ESSA began as a result of intense research in the industry which indicated that there is a high demand for professional management and consulting services for the independent owners of self service storage.

Researching approximately 40,000 facilities nationwide, we concluded that only approximately 6,000 facilities were being managed by professional organizations. It was also determined that the demand for these types of services was far greater than the existing supply of professional companies who could offer nationwide expertise that would allow the small operator to compete with the larger chains of stores.

Due to our product experience and market knowledge, we have the ability, processes and systems to manage self storage properties in any U. S. market. Since it's beginning, ESSA has been retained as a primary consultant and management company for clients in Alabama, Arizona, Arkansas, California, Colorado, Connecticut, Florida, Georgia, Hawaii, Idaho, Indiana, Louisiana, Massachusetts, Michigan, Mississippi, Nevada, New Jersey, North Dakota, Ohio, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Washington, Wyoming, and the U. S. Virgin Islands.

Over the course of its existence, ESSA has refined its operations and reporting systems to allow its clients to quickly and simply evaluate the performance of their properties. Additionally, ESSA has continued to strive to introduce cutting edge programs from quality assurance to specific target advertising.

The ESSA fee structure is one of the most attractive in the industry, and typically has been offset quickly by the improvement in income that we have been able to achieve. In addition, due to the size of the existing client base, the company is often able to reduce operator's costs through volume purchases, national contracts and other negotiated benefits.

An overall professionally managed corporate structure has enabled ESSA to quickly rise to the top of the field and is now regarded by the industry as one of the best self storage management companies in the nation.