SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
REYES JOHN
(Last) (First) (Middle)
PUBLIC STORAGE, INC.
701 WESTERN AVENUE
(Street)
GLENDALE CA 91221
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
PUBLIC STORAGE INC /CA [ PSA ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
Sr. Vice President & CFO
3. Date of Earliest Transaction (Month/Day/Year)
03/26/2004
4. If Amendment, Date of 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
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 03/26/2004 M 20,000 A $24.875 40,500 D
Common Stock 03/26/2004 S 20,000 D $48.7585 20,500 D
Common Stock 03/30/2004 M 20,000 A $24.875 40,500 D
Common Stock 03/30/2004 S 20,000 D $48.2004 20,500 D
Common Stock 4,067.194(1) I By 401(k) plan
Depositary Shares Representing Equity Stock 650 D
Depositary Shares Representing Equity Stock 1,060.45(1) I By 401(k) plan
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 Securities Underlying Derivative Security (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: 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)(2) $23.0625 12/13/2001 12/13/2010 Common Stock 53,333 53,333 D
Stock Option (right to buy)(2) $23.0625 12/13/2002 12/13/2010 Common Stock 53,333 53,333 D
Stock Option (right to buy)(2) $23.0625 12/13/2003 12/13/2010 Common Stock 53,334 53,334 D
Stock Option (right to buy)(2) $23.3125 11/12/2000 11/12/2009 Common Stock 13,333 13,333 D
Stock Option (right to buy)(2) $23.3125 11/12/2001 11/12/2009 Common Stock 13,333 13,333 D
Stock Option (right to buy)(2) $23.3125 11/12/2002 11/12/2009 Common Stock 13,334 13,334 D
Stock Option (right to buy)(2) $28.875 05/08/2000 05/08/2009 Common Stock 6,666 6,666 D
Stock Option (right to buy)(2) $28.875 05/08/2001 05/08/2009 Common Stock 6,667 6,667 D
Stock Option (right to buy)(2) $28.875 05/08/2002 05/08/2009 Common Stock 6,667 6,667 D
Stock Option (right to buy)(2) $29.3125 05/27/1999 05/27/2008 Common Stock 3,333 3,333 D
Stock Option (right to buy)(2) $29.3125 05/27/2000 05/27/2008 Common Stock 3,333 3,333 D
Stock Option (right to buy)(2) $29.3125 05/27/2001 05/27/2008 Common Stock 3,334 3,334 D
Stock Option (right to buy)(2) $26.25 11/20/1999 11/20/2008 Common Stock 4,000 4,000 D
Stock Option (right to buy)(2) $26.25 11/20/2000 11/20/2008 Common Stock 4,000 4,000 D
Stock Option (right to buy)(2) $26.25 11/20/2001 11/20/2008 Common Stock 4,000 4,000 D
Stock Option (right to buy)(2) $24.875 03/26/2004 M 6,666 11/12/1997 11/12/2006 Common Stock 6,666 $0 0 D
Stock Option (right to buy)(2) $24.875 03/26/2004 M 13,334 11/12/1998 11/12/2006 Common Stock 13,334 $0 0 D
Stock Option (right to buy)(2) $24.875 03/30/2004 M 3,333 11/12/1998 11/12/2006 Common Stock 3,333 $0 0 D
Stock Option (right to buy)(2) $24.875 03/30/2004 M 16,667 11/12/1999 11/12/2006 Common Stock 16,667 $0 0 D
Explanation of Responses:
1. Based on plan information as of February 23, 2004.
2. Stock options granted pursuant to the 1996 Stock Option and Incentive Plan.
/s/ John Reyes 03/30/2004
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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