CORRECTION - CubeSmart Announces Tax Allocations of 2015 Distributions

MALVERN, PA--(Marketwired - January 20, 2016) -  In the news release, "CubeSmart Announces Tax Allocations of 2015 Distributions," issued earlier today by CubeSmart (NYSE: CUBE), we are advised by the company that values have been changed in both of the distribution tables. Complete corrected text follows.

CubeSmart Announces Tax Allocations of 2015 Distributions

MALVERN, PA -- January 20, 2016 -- CubeSmart (NYSE: CUBE), a self-administered and self-managed real estate investment trust focused on self-storage facilities, announced today the tax allocations of its 2015 distributions for CubeSmart Common Shares of Beneficial Interest and for CubeSmart 7.75% Series A Cumulative Redeemable Preferred Shares of Beneficial Interest. 

The 2015 distributions paid with respect to CubeSmart common stock (CUSIP #229663-109 and traded under ticker symbol CUBE) are as follows:

                                                           
                                Total          Ordinary    
                            Distribution       Dividend    
Record Date  Payable Date    per Share         (Box 1a)    
                                                           
    1/2/2015    1/15/2015 $           0.16 $       0.152102
    4/1/2015    4/15/2015 $           0.16 $       0.152102
    7/1/2015    7/15/2015 $           0.16 $       0.152102
   10/1/2015   10/15/2015 $           0.16 $       0.152102
                          ---------------- ----------------
                          $           0.64 $       0.604808
                                                           
                                                   
                    Unrecaptured                   
   Total Capital    Section 1250      Non-Taxable  
       Gain         Gain (1) (Box    Distribution  
     (Box 2a)           2b)            (Box 3)     
                                                   
 $       0.007898 $       0.001145 $       0.000000
 $       0.007898 $       0.001145 $       0.000000
 $       0.007898 $       0.001145 $       0.000000
 $       0.007898 $       0.001145 $       0.000000
 ---------------- ---------------- ----------------
 $       0.035192 $       0.004580 $       0.000000
                                                   
  1. Amounts in Box 2b are included in Box 2a.

The fourth quarter 2015 distribution made to holders of record as of January 4, 2016 for the common shares is considered a 2016 distribution for federal income tax purposes.

The 2015 distributions paid with respect to CubeSmart 7.75% Series A Cumulative Redeemable Preferred Shares (CUSIP #229663-208 and traded under ticker symbol CUBE PR A) are as follows:

                                                           
                                Total          Ordinary    
                            Distribution       Dividend    
Record Date  Payable Date    per Share         (Box 1a)    
                                                           
    1/2/2015    1/15/2015 $       0.484375 $       0.457741
    4/1/2015    4/15/2015 $       0.484375 $       0.457741
    7/1/2015    7/15/2015 $       0.484375 $       0.457741
   10/1/2015   10/15/2015 $       0.484375 $       0.457741
                          ---------------- ----------------
                          $       1.937500 $       1.830964
                                                           
                                                   
                    Unrecaptured                   
                    Section 1250     Non-Taxable   
  Total Capital     Gain (1) (Box    Distribution  
  Gain (Box 2a)         2b)            (Box 3)     
                                                   
 $       0.026634 $       0.003467 $       0.000000
 $       0.026634 $       0.003467 $       0.000000
 $       0.026634 $       0.003467 $       0.000000
 $       0.026634 $       0.003467 $       0.000000
 ---------------- ---------------- ----------------
 $       0.106536 $       0.013868 $       0.000000
                                                   
  1. Amounts in Box 2b are included in Box 2a.

The fourth quarter 2015 distribution made to holders of record as of January 4, 2016 for the 7.75% Series A Cumulative Redeemable Preferred Shares is considered a 2016 distribution for federal income tax purposes.

About the Company

CubeSmart is a self-administered and self-managed real estate investment trust. CubeSmart owns or manages 678 self-storage facilities across the United States. According to the 2016 Self Storage Almanac, CubeSmart is one of the top four owners and operators of self-storage facilities in the U.S.

The Company's mission is to simplify the organizational and logistical challenges created by the many life events and business needs of its Customers -- through innovative solutions, unparalleled service, and genuine care. 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. 

For more information about business and personal storage or to learn more about the Company and find a nearby storage facility, visit www.CubeSmart.com or call CubeSmart toll free at 800-800-1717.

Company Contact: 
CubeSmart
Charles Place
Director, Investor Relations
(610) 535-5700

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