EXHIBIT 14

                              PUBLIC STORAGE, INC.
                  CODE OF ETHICS FOR SENIOR FINANCIAL OFFICERS


1.       SCOPE AND PURPOSE

         This  Code of Ethics  for  Senior  Financial  Officers  applies  to the
Company's  principal  executive  officer,   principal  financial  officer,   and
principal  accounting  officer  or  controller,  or persons  performing  similar
functions (each a "Senior Financial Officer").  This Code is designed to promote
(1) honest and ethical  conduct,  (2) avoidance of conflicts of  interests,  (3)
full, fair,  accurate,  timely and understandable  disclosure and (4) compliance
with applicable governmental laws, rules and regulations.  Each Senior Financial
Officer must conduct  himself or herself in  accordance  with this Code and must
seek to  avoid  even the  appearance  of  improper  behavior.  Senior  Financial
Officers  should also refer to and abide by the Company's  Standards of Business
Conduct, which are in addition to this Code.

2.       HONEST AND ETHICAL CONDUCT

         Each Senior  Financial  Officer must always  conduct  him/herself in an
honest and ethical  manner.  Each  Senior  Financial  Officer  must act with the
highest standards of personal and professional integrity and not tolerate others
who,  attempt to deceive,  or evade  responsibility  for actions.  All actual or
apparent  conflicts of interest between personal and professional  relationships
must  be  handled  honestly,  ethically  and in  accordance  with  the  policies
specified in this Code.

3.       COMPLIANCE WITH LAWS, RULES AND REGULATIONS

         Compliance with applicable  governmental  laws,  rules and regulations,
both in letter and in spirit,  is one of the foundations on which this Company's
ethical policies are built.  Each Senior  Financial  Officer must understand and
take  responsibility  for  complying  with  the  governmental  laws,  rules  and
regulations of the cities,  states and countries in which the Company  operates.
For  example,  it is critical  that Senior  Financial  Officers  understand  the
governmental  laws, rules and regulations  applicable to disclosures the Company
is required to make in its  periodic  reports and  otherwise.  Although a Senior
Financial  Officer  may not  know the  details  of all  these  laws,  rules  and
regulations,  it is important  that he or she know enough to  determine  when to
seek advice from the general counsel or other appropriate personnel.

4.       RULES TO  PROMOTE  FULL,  FAIR,  ACCURATE,  TIMELY  AND  UNDERSTANDABLE
         DISCLOSURE

         Each Senior  Financial  Officer must take the following steps to ensure
full,  fair,  accurate,  timely and  understandable  disclosure  in reports  and
documents that the Company files with the Securities and Exchange Commission and
in other public communications made by the Company:

1.            Carefully  review  drafts of reports and  documents the Company is
              required  to file with the SEC before  they are filed and  Company
              press  releases  or other  public  communications  before they are
              released to the public,  with particular focus on disclosures each
              Senior Financial  Officer does not understand or agree with and on
              information  known to the  officer  that is not  reflected  in the
              report, document, press release or public communication.

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2.            Meet with the disclosure  committee,  members of senior management
              not on the committee,  division heads, accounting staff and others
              involved in the  disclosure  process to discuss their  comments on
              the draft report, document, press release or public communication.

3.            Establish and maintain  disclosure  controls and  procedures  that
              ensure that  material  information  is  included  in each  report,
              document,  press  release  or  public  communication  in a  timely
              fashion.

4.            Consult  with  the  Audit  Committee  of the  Company's  Board  of
              Directors  on a  regular  basis to  determine  whether  they  have
              identified  any  weaknesses  or concerns  with respect to internal
              controls.

5.            When  relevant,   confirm  that  neither  the  Company's  internal
              auditors  nor its outside  accountants  are aware of any  material
              misstatements  or omissions  in the draft  report or document,  or
              have any concerns about the  management's  discussion and analysis
              section of a report.

6.            Bring to the attention of the  disclosure  committee  and/or Audit
              Committee  matters that the Senior  Financial  Officer feels could
              compromise the integrity of the Company's financial reports.

7.            Always act with the highest standards of personal and professional
              integrity;  do not tolerate  others who attempt to deceive,  or to
              evade responsibility for their actions.

5.       REPORTING VIOLATIONS OF THE CODE.

         Any Senior Financial  Officer who becomes aware of any violation of the
Code must promptly  bring the violation to the attention of the Audit  Committee
of the Board of Directors.

6.       COMPLIANCE WITH CODE.

         Each Senior Financial Officer will be held accountable for adherence to
this Code. A violator of this Code will be subject to disciplinary action, up to
and  including  a discharge  from the  Company  and,  where  appropriate,  civil
liability and criminal prosecution.

7.       WAIVER OF THE CODE

         Any waiver of this Code may be made only by the  independent  directors
on the  Board  of  Directors  or by an  authorized  committee  of the  Board  of
Directors  comprised solely of independent  directors,  and will be disclosed as
required by law or SEC regulations

8.       ACKNOWLEDGEMENT

         Senior  Financial  Officers are  required to sign a form  acknowledging
that they have  received,  read, and agree to comply with the Code of Ethics for
Senior Financial Officers.

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