Exhibit 99.1

Sovran Self Storage Reports Third Quarter 2010 Results

BUFFALO, N.Y.--(BUSINESS WIRE)--November 3, 2010--Sovran Self Storage, Inc. (NYSE:SSS), a self storage real estate investment trust (REIT), reported operating results for the quarter ended September 30, 2010.

Net income available to common shareholders for the third quarter of 2010 was $8.9 million or $0.32 per diluted share. Net income available to common shareholders for the same period in 2009 was $7.5 million or $0.32 per diluted share. Funds from operations (FFO) for the quarter were $0.63 per fully diluted common share compared to $0.68 for the same period last year. The impact of the Company’s 4 million share offering in October 2009 offset a significant decline in interest expense thereby contributing to the reduction in per share FFO results.

OPERATIONS:

Revenues for the 345 stores wholly owned by the Company for the entire quarter of each year were slightly positive over those of the third quarter of 2009, the result of a 60 basis point increase in average occupancy offset by a 1.1% decline in rental rates, and strong growth in other revenues.

“We saw solid increases in rents and occupancy this quarter,” said Kenneth F. Myszka, the Company’s President and COO. “Inquiries to our website are up dramatically, and we’re encouraged by continued strong demand in many of our markets.”

Same store operating expenses increased by a total of 80 basis points for the third quarter of 2010 compared to the prior year period, primarily the result of increased health care, workers compensation and property maintenance costs offset by a net property tax decrease of 2.6%. Property taxes were impacted by the reductions won at several properties as a result of successful challenges to assessed values.

Total consolidated property net operating income for the third quarter declined 27 basis points compared with the same quarter in 2009 to $30.5 million. Overall average occupancy for the quarter improved 20 basis points to 82.6% and average rent per square foot for the portfolio was $10.09.

General and administrative expenses grew by about $0.4 million over the same period in 2009, primarily due to increased income taxes associated with operations of the Company’s taxable REIT subsidiary and marketing and internet advertising costs.

During the third quarter of 2010, revenue growth was seen at the Company’s Georgia, Tennessee, and most of its New England stores, while stores in Florida, Arizona and Texas (primarily the Houston market area) showed revenue declines.

PROPERTIES:

The Company did not acquire or dispose of any properties during the quarter for its own portfolio or for that of its Joint Ventures.

“We’re seeing an increased number of facilities coming to market, and we’re well positioned to acquire the right properties at the right terms,” commented David Rogers, the Company’s Chief Financial Officer. “We have a strong balance sheet and plenty of liquidity to put to work.”

The Company continues with its program of expanding and enhancing its properties. Up to 20 projects providing approximately 500,000 square feet of additional and/or improved space at existing stores is planned during 2010 at an estimated cost of $20 million. It is also evaluating up to $50 million of such improvements to undertake in 2011.

CAPITAL TRANSACTIONS:

At September 30, 2010, the Company had $400 million of unsecured term note debt and $79.5 million of mortgage debt outstanding. The Company has no significant debt maturities until mid-2012.

Illustrated below are key financial ratios at September 30, 2010:

• Debt to Enterprise Value (at $38.00/share) 31.1%
• Debt to Book Cost of Storage Facilities 34.8%
• Debt to EBITDA Ratio 4.7x
• Debt Service Coverage 3.2x

At September 30, 2010, the Company had approximately $32 million of cash on hand, and up to $175 million available on its line of credit.

YEAR 2010 EARNINGS GUIDANCE:

While consumer demand appears to be improving moderately in many of our markets, the Company expects conditions to remain competitive and anticipates the continuation of leasing incentives as well as increased advertising. Accordingly, a decline in same store revenue of 0% to 1% is projected from that of 2009. Property operating costs are projected to increase by 2% to 3%, including an expected 5% annual increase in property taxes. Accordingly, the Company is anticipating a decline of 2% to 3% in same store net operating income for 2010.

The Company has identified some 20 properties at which it plans to add or improve approximately 500,000 square feet of storage space during 2010 at an estimated cost of $20 million. The Company also has budgeted $12 million to provide for recurring capitalized expenditures including roofing, painting, paving, and office renovations.

The Company is selectively evaluating acquisition opportunities, but at present has no properties under contract and expects to remain prudent while the acquisition market remains unsettled.

General and administrative expenses are expected to increase due to income taxes on its taxable REIT subsidiaries and the Company’s plans to expand its internet marketing presence.

At September 30, 2010, all of the Company’s debt is either fixed rate or covered by rate swap contracts that essentially fix the rate. Subsequent borrowings that may occur will be pursuant to the Company’s Line of Credit agreement at a floating rate of LIBOR plus 1.375%.

At September 30, 2010, the Company had 27.6 million shares of common stock outstanding and 0.34 million Operating Partnership Units outstanding.

As a result of somewhat improved projected operating results, offset by the dilutive impact of the sale of 10 stores, management reiterates its prior forecast of expected funds from operations for the full year 2010 to be approximately $2.44 to $2.48 per share, and between $0.62 and $0.64 for the fourth quarter of 2010.

FORWARD LOOKING STATEMENTS:

When used within this news release, the words “intends,” “believes,” “expects,” “anticipates,” and similar expressions are intended to identify “forward looking statements” within the meaning of that term in Section 27A of the Securities Act of 1933, and in Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied by such forward looking statements. Such factors include, but are not limited to, the effect of competition from new self storage facilities, which could cause rents and occupancy rates to decline; the Company’s ability to evaluate, finance and integrate acquired businesses into the Company’s existing business and operations; the Company’s existing indebtedness may mature in an unfavorable credit environment, preventing refinancing or forcing refinancing of the indebtedness on terms that are not as favorable as the existing terms; interest rates may fluctuate, impacting costs associated with the Company’s outstanding floating rate debt; the Company’s ability to comply with debt covenants; the future ratings on the Company’s debt instruments; the regional concentration of the Company’s business may subject it to economic downturns in the states of Florida and Texas; the Company’s ability to effectively compete in the industries in which it does business; the Company’s reliance on its call center; the Company’s cash flow may be insufficient to meet required payments of principal, interest and dividends; and tax law changes which may change the taxability of future income.

CONFERENCE CALL:

Sovran Self Storage will hold its Third Quarter Earnings Release Conference Call at 9:00 a.m. Eastern Time on Thursday, November 4, 2010. To access the conference call, dial 877.407.8033 (domestic), or 201.689.8033 (international), at least five minutes prior to the scheduled start of the call. Management will accept questions from registered financial analysts after prepared remarks; all others are encouraged to listen to the call via webcast at www.unclebobs.com/company/investment/events.

The webcast will be archived for a period of 90 days; a telephone replay will also be available for 72 hours by calling 877.660.6853 and entering pass codes 286/358443.

Sovran Self Storage, Inc. is a self-administered and self-managed equity REIT that is in the business of acquiring and managing self storage facilities. The Company operates 371 self storage facilities in 24 states under the name “Uncle Bob’s Self Storage”^®. For more information, please contact David Rogers, CFO or Diane Piegza, VP Corporate Communications at 716.633.1850 or visit the Company’s Web site.

SOVRAN SELF STORAGE, INC.
BALANCE SHEET DATA
(unaudited)
	September 30,			December 31,
(dollars in thousands)	2010			2009
Assets
Investment in storage facilities:
Land	$	235,128		$	234,522
Building, equipment and construction in progress		1,143,867			1,129,932
		1,378,995			1,364,454
Less: accumulated depreciation		(263,496	)		(238,971	)
Investment in storage facilities, net		1,115,499			1,125,483
Cash and cash equivalents		31,927			10,710
Accounts receivable		2,324			2,346
Receivable from joint venture		232			173
Investment in joint venture		19,710			19,944
Prepaid expenses		5,338			4,203
Other assets		4,543			5,313
Net assets of discontinued operations		-			16,926
Total Assets	$	1,179,573		$	1,185,098
Liabilities
Line of credit	$	-		$	-
Term notes		400,000			400,000
Accounts payable and accrued liabilities		24,193			22,316
Deferred revenue		4,841			4,980
Fair value of interest rate swap agreements		12,213			11,524
Mortgages payable		79,539			81,219
Total Liabilities		520,786			520,039
Noncontrolling redeemable Operating Partnership Units at redemption value		12,997			15,005
Equity
Common stock		288			287
Additional paid-in capital		816,470			814,988
Accumulated deficit		(144,738	)		(139,863	)
Accumulated other comprehensive loss		(12,137	)		(11,265	)
Treasury stock at cost		(27,175	)		(27,175	)
Total Shareholders' Equity		632,708			636,972
Noncontrolling interest - consolidated joint venture		13,082			13,082
Total Equity		645,790			650,054
Total Liabilities and Equity	$	1,179,573		$	1,185,098

CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited)
	July 1, 2010			July 1, 2009
	to			to
(dollars in thousands, except share data)	September 30, 2010			September 30, 2009
Revenues
Rental income	$	46,196		$	46,440
Other operating income		2,109			1,761
Management and acquisition fee income		318			313
Total operating revenues		48,623			48,514
Expenses
Property operations and maintenance		13,197			12,888
Real estate taxes		4,940			5,058
General and administrative		4,983			4,568
Depreciation and amortization		8,215			8,111
Amortization of in-place customer leases		-			27
Total operating expenses		31,335			30,652
Income from operations		17,288			17,862
Other income (expense)
Interest expense (including amortization of financing fees
of $258 in 2010 and $315 in 2009)		(7,954	)		(10,873	)
Interest income		24			22
Gain on the sale of land		-			1,127
Equity in income of joint ventures		16			60
Income from continuing operations		9,374			8,198
Loss from discontinued operations (including loss on disposal of $1,009 in 2009)		-			(228	)
Net income		9,374			7,970
Net income attributable to noncontrolling interests		(451	)		(474	)
Net income attributable to common shareholders	$	8,923		$	7,496
Earnings per common share attributable to common shareholders - basic
Continuing operations	$	0.32		$	0.33
Discontinued operations		-			(0.01	)
Earnings per common share - basic	$	0.32		$	0.32
Earnings per common share attributable to common shareholders - diluted
Continuing operations	$	0.32		$	0.33
Discontinued operations		-			(0.01	)
Earnings per common share - diluted	$	0.32		$	0.32
Common shares used in basic
earnings per share calculation		27,485,416			23,335,957
Common shares used in diluted
earnings per share calculation		27,525,279			23,349,479
Dividends declared per common share	$	0.4500		$	0.4500

CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited)
	January 1, 2010			January 1, 2009
	to			to
(dollars in thousands, except share data)	September 30, 2010			September 30, 2009
Revenues
Rental income	$	136,606		$	137,580
Other operating income		5,669			5,013
Management and acquisition fee income		941			929
Total operating revenues		143,216			143,522
Expenses
Property operations and maintenance		38,673			37,754
Real estate taxes		15,290			15,068
General and administrative		15,090			13,292
Depreciation and amortization		24,617			24,331
Amortization of in-place customer leases		-			262
Total operating expenses		93,670			90,707
Income from operations		49,546			52,815
Other income (expense)
Interest expense (including amortization of financing fees
of $773 in 2010 and $946 in 2009 as well as $923 of waiver fees in 2009)		(23,762	)		(32,552	)
Interest income		65			75
Gain on the sale of land		-			1,127
Equity in income of joint ventures		154			154
Income from continuing operations		26,003			21,619
Income from discontinued operations (including a gain on disposal of $6,944 in 2010
and loss on disposal of $1,009 in 2009)		7,562			1,215
Net income		33,565			22,834
Net income attributable to noncontrolling interests		(1,454	)		(1,416	)
Net income attributable to common shareholders	$	32,111		$	21,418
Earnings per common share attributable to common shareholders - basic
Continuing operations	$	0.89		$	0.90
Discontinued operations		0.28			0.05
Earnings per common share - basic	$	1.17		$	0.95
Earnings per common share attributable to common shareholders - diluted
Continuing operations	$	0.89		$	0.90
Discontinued operations		0.28			0.05
Earnings per common share - diluted	$	1.17		$	0.95
Common shares used in basic
earnings per share calculation		27,464,672			22,639,513
Common shares used in diluted
earnings per share calculation		27,504,175			22,646,131
Dividends declared per common share	$	1.3500		$	1.0900

COMPUTATION OF FUNDS FROM OPERATIONS (FFO) (1) - (unaudited)
	July 1, 2010			July 1, 2009
	to			to
(dollars in thousands, except share data)	September 30, 2010			September 30, 2009
Net income attributable to common shareholders	$	8,923		$	7,496
Net income attributable to noncontrolling interests		451			474
Depreciation of real estate and amortization of intangible
assets exclusive of deferred financing fees		8,215			8,138
Depreciation of real estate included in discontinued operations		-			270
Depreciation and amortization from unconsolidated joint ventures		197			205
Gain on sale of real estate		-			(118	)
Funds from operations allocable to noncontrolling
interest in Operating Partnership		(214	)		(284	)
Funds from operations allocable to noncontrolling
interest in consolidated joint ventures		(340	)		(340	)
Funds from operations available to common
shareholders		17,232			15,841
FFO per share - diluted	$	0.63		$	0.68
Common shares - diluted		27,525,279			23,349,479
	January 1, 2010			January 1, 2009
	to			to
(dollars in thousands, except share data)	September 30, 2010			September 30, 2009
Net income attributable to common shareholders	$	32,111		$	21,418
Net income attributable to noncontrolling interests		1,454			1,416
Depreciation of real estate and amortization of intangible
assets exclusive of deferred financing fees		24,617			24,593
Depreciation of real estate included in discontinued operations		217			878
Depreciation and amortization from unconsolidated joint ventures		588			620
Gain on sale of real estate		(6,944	)		(118	)
Funds from operations allocable to noncontrolling
interest in Operating Partnership		(677	)		(868	)
Funds from operations allocable to noncontrolling
interest in consolidated joint ventures		(1,020	)		(1,020	)
Funds from operations available to common
shareholders		50,346			46,919
FFO per share - diluted	$	1.83		$	2.07
Common shares - diluted		27,504,175			22,646,131

(1) We believe that Funds from Operations (“FFO”) provides relevant and meaningful information about our operating performance that is necessary, along with net earnings and cash flows, for an understanding of our operating results. FFO adds back historical cost depreciation, which assumes the value of real estate assets diminishes predictably in the future. In fact, real estate asset values increase or decrease with market conditions. Consequently, we believe FFO is a useful supplemental measure in evaluating our operating performance by disregarding (or adding back) historical cost depreciation.

Funds from operations is defined by the National Association of Real Estate Investment Trusts, Inc. (“NAREIT”) as net income computed in accordance with generally accepted accounting principles (“GAAP”), excluding gains or losses on sales of properties, plus depreciation and amortization and after adjustments to record unconsolidated partnerships and joint ventures on the same basis. We believe that to further understand our performance, FFO should be compared with our reported net income and cash flows in accordance with GAAP, as presented in our consolidated financial statements.

Our computation of FFO may not be comparable to FFO reported by other REITs or real estate companies that do not define the term in accordance with the current NAREIT definition or that interpret the current NAREIT definition differently. FFO does not represent cash generated from operating activities determined in accordance with GAAP, and should not be considered as an alternative to net income (determined in accordance with GAAP) as an indication of our performance, as an alternative to net cash flows from operating activities (determined in accordance with GAAP) as a measure of our liquidity, or as an indicator of our ability to make cash distributions.

QUARTERLY SAME STORE DATA (2) *	July 1, 2010		July 1, 2009
	to		to		Percentage
(dollars in thousands)	September 30, 2010		September 30, 2009		Change
Revenues:
Rental income	$	46,134	$	46,440	-0.7	%
Other operating income		1,988		1,670	19.0	%
Total operating revenues		48,122		48,110	0.0	%
Expenses:
Property operations and maintenance		13,123		12,848	2.1	%
Real estate taxes		4,925		5,057	-2.6	%
Total operating expenses		18,048		17,905	0.8	%
Operating income	$	30,074	$	30,205	-0.4	%
(2) Includes the 345 stores owned and/or managed by the Company for the entire periods presented that are consolidated in our financial statements. Does not include unconsolidated joint venture stores managed by the Company.
* See exhibit A for supplemental same store data.

YEAR TO DATE SAME STORE DATA (2)	January 1, 2010		January 1, 2009
	to		to		Percentage
(dollars in thousands)	September 30, 2010		September 30, 2009		Change
Revenues:
Rental income	$	136,473	$	137,580	-0.8	%
Other operating income		5,351		4,771	12.2	%
Total operating revenues		141,824		142,351	-0.4	%
Expenses:
Property operations and maintenance		38,452		37,665	2.1	%
Real estate taxes		15,248		15,069	1.2	%
Total operating expenses		53,700		52,734	1.8	%
Operating income	$	88,124	$	89,617	-1.7	%

OTHER DATA	Same Store (2)				All Stores (3)
	2010		2009		2010	2009
Weighted average quarterly occupancy	82.8%		82.2%		82.6%	82.4%
Occupancy at September 30	82.5%		81.4%		82.3%	81.6%
Rent per occupied square foot	$10.10		$10.21		$10.09	$10.15
(3) Does not include 25 unconsolidated joint venture stores managed by the Company
Investment in Storage Facilities:
The following summarizes activity in storage facilities during the nine months ended September 30, 2010:
Beginning balance	$	1,364,454
Property acquisitions		-
Improvements and equipment additions:
Expansions		4,809
Roofing, paving, painting, and equipment:
Stabilized stores		8,712
Recently acquired and consolidated joint venture stores		783
Change in construction in progress (Total CIP $10.2 million)		403
Dispositions		(166)
Storage facilities at cost at period end	$	1,378,995
	September 30, 2010		September 30, 2009
Common shares outstanding		27,648,329		23,478,580
Operating Partnership Units outstanding		342,936		419,952

Exhibit A
Sovran Self Storage, Inc.
Same Store Performance Summary
Three Months Ended September 30, 2010
(unaudited)
		Square Feet	Avg Qtrly Rent per Occupied Square Foot		Avg Quarterly Occupancy for the Three Months Ended September 30,		Revenue for the Three Months Ended September 30,					Expenses for the Three Months Ended September 30,					NOI for the Three Months Ended September 30,
State	Stores				2010	2009	2010		2009		% Change	2010		2009		% Change	2010		2009		% Change
Alabama	22	1,587	$	8.07	76.9%	76.0%	$	2,694	$	2,649	1.70%	$	1,023	$	1,017	0.59%	$	1,671	$	1,632	2.39%
Arizona	9	530		9.63	86.7%	86.9%		1,171		1,212	-3.38%		436		418	4.31%		735		794	-7.43%
Connecticut	5	301		17.38	77.4%	74.3%		1,039		1,026	1.27%		243		350	-30.57%		796		676	17.75%
Florida	54	3,452		10.00	80.0%	79.9%		7,182		7,342	-2.18%		3,015		3,022	-0.23%		4,167		4,320	-3.54%
Georgia	22	1,423		9.28	80.9%	79.4%		2,801		2,677	4.63%		1,029		1,020	0.88%		1,772		1,657	6.94%
Louisiana	14	836		10.81	85.2%	80.2%		1,979		1,952	1.38%		628		693	-9.38%		1,351		1,259	7.31%
Maine	2	113		10.97	84.0%	80.7%		271		278	-2.52%		102		85	20.00%		169		193	-12.44%
Maryland	4	172		13.75	89.2%	91.5%		543		533	1.88%		212		199	6.53%		331		334	-0.90%
Massachusetts	12	664		12.40	82.5%	79.3%		1,781		1,710	4.15%		651		624	4.33%		1,130		1,086	4.05%
Michigan	4	229		9.22	92.5%	90.2%		510		491	3.87%		200		182	9.89%		310		309	0.32%
Mississippi	12	924		8.71	85.3%	85.4%		1,815		1,803	0.67%		619		586	5.63%		1,196		1,217	-1.73%
Missouri	7	432		10.84	88.2%	88.6%		1,059		1,070	-1.03%		401		424	-5.42%		658		646	1.86%
New Hampshire	4	260		10.47	82.9%	79.7%		564		543	3.87%		206		187	10.16%		358		356	0.56%
New York	28	1,595		12.90	86.3%	88.0%		4,606		4,555	1.12%		1,525		1,462	4.31%		3,081		3,093	-0.39%
North Carolina	11	540		9.11	83.9%	84.1%		1,045		1,097	-4.74%		391		390	0.26%		654		707	-7.50%
Ohio	17	1,132		8.41	87.4%	86.0%		2,159		2,144	0.70%		756		763	-0.92%		1,403		1,381	1.59%
Pennsylvania	4	208		9.94	80.9%	84.1%		429		430	-0.23%		149		143	4.20%		280		287	-2.44%
Rhode Island	4	168		12.04	80.7%	80.6%		449		451	-0.44%		180		171	5.26%		269		280	-3.93%
South Carolina	8	443		9.42	82.7%	80.8%		904		903	0.11%		386		366	5.46%		518		537	-3.54%
Tennessee	4	291		8.12	90.6%	79.1%		554		500	10.80%		259		227	14.10%		295		273	8.06%
Texas	81	5,886		9.95	82.4%	83.5%		12,325		12,549	-1.79%		4,909		4,881	0.57%		7,416		7,668	-3.29%
Virginia	17	1,003		10.35	83.4%	79.2%		2,242		2,195	2.14%		728		695	4.75%		1,514		1,500	0.93%
Portfolio Total	345	22,189	$	10.10	82.8%	82.2%	$	48,122	$	48,110	0.02%	$	18,048	$	17,905	0.80%	$	30,074	$	30,205	-0.43%
Dollars in thousands except for average quarterly rent per occupied square foot. Square feet in thousands.
345 wholly owned same stores.

CONTACT:
Sovran Self Storage
David Rogers, CFO or
Diane Piegza, VP Corporate Communications
716-633-1850