Public Storage, Inc.
          Exhibit 11 - Statement Re: Computation of Earnings Per Share

<TABLE>
<CAPTION>

                    


                                                                                   For the Year Ended December 31,
                                                                         ----------------------------------------------------
                                                                         1995                    1994                   1993
                                                                         ----                    ----                   ----
                                                                            (amounts in thousands, except per share data)
PRIMARY EARNINGS PER SHARE:
---------------------------

<S>                                                                     <C>                     <C>                     <C>    
Net income                                                              $70,386                 $42,118                 $28,036

Less: Preferred Stock Dividends:
   10% Cumulative Preferred Stock, Series A                              (4,563)                 (4,563)                 (4,563)
   9.20% Cumulative Preferred Stock, Series B                            (5,488)                 (5,339)                 (4,147)
   Adjustable Rate Preferred Stock, Series C                             (2,364)                 (1,250)                      -
   9.25% Cumulative Preferred Stock, Series D                            (2,850)                   (950)                      -
   10.00% Cumulative Preferred Stock, Series E                           (5,030)                      -                       -
   9.50% Cumulative Preferred Stock, Series F                            (3,721)                      -                       -
   8-7/8% Cumulative Preferred Stock, Series G                             (638)                      -                       -
   8.25% Convertible Preferred Stock                                     (4,744)                 (4,744)                 (2,178)
   Mandatory Convertible Participating Preferred Stock                   (1,726)                      -                       -
                                                                          -------                -------                 -------

Net income allocable to common shareholders                              $39,262                 $25,272                 $17,148
                                                                          =======                =======                 =======

Weighted Average common and common equivalent shares
   outstanding:

   Weighted average common shares outstanding                            41,039                  23,978                  17,483

   Net effect of dilutive stock options - based on treasury
     stock method using average market price                                 132                      98                     75
                                                                          -------                -------                 -------

   Total                                                                  41,171                  24,077                  17,558
                                                                          =======                =======                 =======

Primary earnings per common and common equivalent share
                                                                          $ 0.95                 $  1.05                 $  0.98
                                                                          =======                =======                 =======
</TABLE>




                                   Exhibit 11

<PAGE>


                              Public Storage, Inc.
          Exhibit 11 - Statement Re: Computation of Earnings Per Share

<TABLE>
<CAPTION>
                                                                                   For the Year Ended December 31,
                                                                         ----------------------------------------------------
                                                                         1995                    1994                   1993
                                                                         ----                    ----                   ----
                                                                            (amounts in thousands, except per share data)

FULLY-DILUTED EARNINGS PER COMMON AND COMMON EQUIVALENT SHARE
-------------------------------------------------------------

<S>                                                                       <C>                    <C>                     <C>
Net income allocable to common shareholders per Primary
   calculation above                                                      $39,262                $25,272                 $17,148

   Add: Dividends to 8.25% Convertible Preferred Stock                      4,744                  4,744                   2,179
   Add: Dividends to Mandatory Convertible Participating
     Preferred Stock                                                        1,726                      -                       -

Net income allocable to common shareholders for purposes of
   determining Fully-diluted Earnings per Common and Common
   Equivalent Share                                                       $45,732                $30,016                 $19,327
                                                                          =======                =======                 =======

Weighed average common and common equivalent shares outstanding
                                                                           41,171                 24,077                  17,558

    Pro forma weighted average common shares assuming
      conversion of 8.25% Convertible Preferred Stock at date
      of issuance (July 15, 1994)                                           3,872                  3,872                   1,775

    Pro forma weighted average common shares assuming
      conversion of the Mandatory Convertible Participating
      Preferred Stock at date of issuance (July 1, 1995)                      785                      -                       -
                                                                          -------                -------                 -------


Weighed average common and common equivalent shares for
   purposes of computation of Fully-diluted Earnings per
   Common and Common Equivalent Share                                      45,828                 27,949                  19,333

Fully-diluted Earnings per Common and Common
   Share (1)                                                              $  1.00                $  1.07                 $  1.00
                                                                          =======                =======                 =======
</TABLE>


(1)  Such  amounts are  anti-dilutive  and are not  presented  in the  Company's
     consolidated  financial  statements.  The 8.25% Convertible Preferred Stock
     and the Mandatory Convertible  Participating Preferred Stock are individual
     anti-dilutive  with an  incremental  earnings per common share of $1.65 and
     $2.20, respectively, for 1995.

     In addition, the Company has 7,000,000 shares of Class B Common Stock which
     are  convertible  into  shares of the  Company's  Common  Stock  subject to
     certain  contingencies  such as the passage of time and the  attainment  of
     certain  earnings  milestone by the Company.  The estimated  additional pro
     forma earnings which the Company would have had to generate  during 1995 to
     meet the  earnings  milestone  in  order  for the  Class B Common  Stock to
     convert into Common Stock was approximately  $59.7 million.  The assumption
     of such  earnings and the pro forma  conversion of the Class B Common Stock
     into  Common  Stock in the above  computations  would have  resulted  in an
     increase in the  fully-diluted  earnings per common share, and accordingly,
     is anti-dilutive.

                                   Exhibit 11