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^*

LENKIN HARVEY

(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)
	President

3. Date of Earliest Transaction (Month/Day/Year)
08/26/2004

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)
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	08/26/2004		M		50,000	A	$23.0625	150,000	D
Common Stock	08/26/2004		S		50,000	D	$50.7074	100,000	D
Common Stock								473	I	By wife
Common Stock								777	I	By wife IRA⁽¹⁾
Common Stock								308	I	By wife SEP IRA⁽²⁾
Common Stock								1,278	I	By IRA⁽³⁾
Common Stock								1,568	I	By son⁽⁴⁾
Common Stock								123.5208⁽⁵⁾	I	By son IRA⁽⁵⁾
Common Stock								28,835.259⁽⁶⁾	I	By 401 (K) Plan
Depositary Shares Representing Equity Stock								1,880	D
Depositary Shares Representing Equity Stock								100	I	By son⁽⁴⁾
Depositary Shares Representing Equity Stock								112	I	By wife
Depositary Shares Representing Equity Stock								250	I	By IRA⁽³⁾
Depositary Shares Representing Equity Stock								129.9145⁽⁵⁾	I	By IRA⁽⁵⁾
Depositary Shares Representing Equity Stock								1,074.525⁽⁶⁾	I	By 401(K) Plan
Depositary Shares Representing Equity Stock								82	I	By wife IRA⁽¹⁾
Depositary Shares Representing Equity Stock								131	I	By wife SEP IRA⁽²⁾

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)⁽⁷⁾	$23.0625	08/26/2004		M			12,666	12/13/2002	12/13/2010	Common Stock	12,666	$0	0	D
Stock Option (right to buy)⁽⁷⁾	$23.0625	08/26/2004		M			37,334	12/13/2003	12/13/2010	Common Stock	37,334	$0	0	D

Explanation of Responses:

1. By a custodian of an IRA rollover for benefit of wife.

2. By a custodian of a SEP IRA for benefit of wife.

3. By a custodian of an IRA rollover for benefit of self.

4. By wife as custodian for son.

5. By custodian of an IRA for benefit of son. Includes automatic reinvestment of dividends through June 30, 2003.

6. Based on plan information as of August 10, 2004.

7. Stock options granted under the 1996 Stock Option and Incentive Plan.

	/s/ Harvey Lenkin	08/26/2004
	** 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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