CubeSmart Declares Third Quarter 2012 Dividend

WAYNE, PA--(Marketwire - Aug 1, 2012) - CubeSmart (NYSE: CUBE), a self-administered and self-managed real estate investment trust focused on self-storage facilities, announced today that its Board of Trustees declared a quarterly dividend of $0.08 per common share for the period ending September 30, 2012. The dividend is payable on October 15, 2012 to common shareholders of record on October 1, 2012. The Board of Trustees also declared a quarterly dividend of $0.484375 for the 7.75% Series A Cumulative Redeemable Preferred Shares payable on October 15, 2012 to holders of record on October 1, 2012.

About the Company

CubeSmart is a self-administered and self-managed real estate investment trust. CubeSmart owns or manages 511 self-storage facilities across the United States and operates the CubeSmart Network, which consists of approximately 850 additional self-storage facilities. The Company plans to exceed Customer expectations by adding more personalized services and technology to some of the best storage spaces around.

CubeSmart services include storage customization, logistics services, comprehensive moving services, organizational services, and office amenities. The Company's self-storage facilities are designed to offer affordable, easily accessible, secure, and in most locations, climate-controlled storage space for residential and commercial customers, as well as boat storage and mini storage. According to the 2011 Self Storage Almanac, CubeSmart is one of the top four owners and operators of self-storage facilities in the U.S.

For more information about business or personal storage, visit us online at www.CubeSmart.com or call CubeSmart(SM) toll free at 800-800-1717.

Forward-Looking Statements

Although the Company believes the expectations reflected in any forward-looking statements in this press release are based on reasonable assumptions, there can be no assurance that such expectations will be achieved. You should not rely on our forward-looking statements because the matters they describe are subject to known and unknown risks and uncertainties that could cause the Company's future results, performance, or achievements to differ significantly from the results, performance, or achievements expressed or implied by such statements. Such risks are set forth under the captions "Item 1A. Risk Factors" and "Forward-Looking Statements" in our annual report on Form 10-K and under the caption "Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations" (or similar captions) in our quarterly reports on Form 10-Q, and described from time to time in the Company's filings with the SEC. For forward-looking statements herein, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.