SEC FORM 4

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^*

HAVNER RONALD L JR

(Last)

(First)

(Middle)

701 WESTERN AVENUE

(Street)

GLENDALE

91201-2349

(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)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Vice Chairman and CEO

3. Date of Earliest Transaction (Month/Day/Year)
05/27/2004

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	05/27/2004		M		26,600	A	$30.1	46,600	I	As Trustee⁽¹⁾
Common Stock	05/27/2004		S		26,600	D	$45.6394	20,000	I	As Trustee⁽¹⁾
Common Stock	05/28/2004		M		23,400	A	$30.1	43,400	I	As Trustee⁽¹⁾
Common Stock	05/28/2004		S		23,400	D	$45.981	20,000	I	As Trustee⁽¹⁾
Common Stock								8,353.715⁽²⁾	I	By 401(k) Plan
Common Stock								300	I	For benefit of son⁽³⁾
Depositary Shares Representing Equity Stock, Series A								307.334⁽²⁾	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Option (right to buy)⁽⁴⁾	$30.1	05/27/2004		M			26,600	11/07/2003	11/07/2012	Common Stock	26,600	$0	0	D
Stock Option (right to buy)⁽⁴⁾	$30.1	05/28/2004		M			23,400	11/07/2003	11/07/2012	Common Stock	56,733	$0	33,333	D
Stock Option (right to buy)⁽⁴⁾	$30.1							11/07/2004	11/07/2012	Common Stock	83,333		83,333	D
Stock Option (right to buy)⁽⁴⁾	$30.1							11/07/2005	11/07/2012	Common Stock	83,334		83,334	D
Stock Option (right to buy)⁽⁵⁾	$24.875							11/12/1997	11/12/2006	Common Stock	5,000		5,000	D
Stock Option (right to buy)⁽⁵⁾	$24.875							11/12/1998	11/12/2006	Common Stock	5,000		5,000	D
Stock Option (right to buy)⁽⁵⁾	$24.875							11/12/1999	11/12/2006	Common Stock	5,000		5,000	D

Explanation of Responses:

1. By Ronald L. Havner, Jr. and LeeAnn R. Havner, Trustees of the Havner Family Trust.

2. Based on plan information as of June 1, 2004.

3. By Ronald L. Havner, Jr. for benefit of son.

4. Stock options granted pursuant to the 2001 Stock Option and Incentive Plan.

5. Stock options granted pursuant to the 1996 Stock Option and Incentive Plan.

	David Goldberg, Attorney in Fact	06/01/2004
	** 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).
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