|   | R | QUARTERLY                REPORT PURSUANT TO                SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF                1934. |
|--------|---|---------------------------------------------------------------------------------------------------------------------------------------|

|   | £ | TRANSITION                REPORT PURSUANT TO                SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF                1934. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------|

|                                 |                                                                                                         |                                                            |
|--------------------------------------|--------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------|
| CommissionFile                Number | Registrant,                State of Incorporation,Address                and Telephone                Number | I.R.S.                EmployerIdentification                No. |
|                                 |                                                                                                    |                                                            |
| 1-11255                              |  AMERCO                                                                                                 | 88-0106815                                                      |
|                                 | (A                Nevada Corporation)                                                                        |                                                            |
|                                 | 1325                Airmotive Way, Ste. 100                                                                  |                                                            |
|                                 | Reno,                Nevada 89502-3239                                                                       |                                                            |
|                                 | Telephone                (775) 688-6300                                                                      |                                                            |
|                                 |                                                                                                         |                                                            |

----

|                    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | Page                No.              |
|-------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------|
|                    | PART                I FINANCIAL INFORMATION                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                                 |
| Item                1.  | Financial                Statements                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                                 |
|                    | a)                Condensed                Consolidated Balance                Sheets as of December 31,                2007(unaudited)                and March 31,                2007                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | 1                                    |
|                    | b)                Condensed                Consolidated                Statementsof                Operations for the                Quartersended                December                 31,                2007and                2006(unaudited)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | 2                                    |
|                    | c)                Condensed                Consolidated                Statementsof                Operations for the Nine MonthsendedDecember 31,                2007and                2006(unaudited)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           | 3                                    |
|                    | d)                Condensed                Consolidated                Statements of Cash                Flows for the Nine Monthsended December 31,                2007and                2006(unaudited)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | 4                                    |
|                    | e)                Notes                to                Condensed Consolidated Financial Statements                (unaudited)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | 5                -                32 |
| Item                2.  | Management’s                Discussion and Analysis of Financial Condition and Results of                Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | 33                – 50         |
| Item                3.  | Quantitative                and Qualitative Disclosures About Market                Risk                                                                                                                                | 50                – 51         |
| Item                4.  | Controls                and                Procedures                                                                                                                                                                   | 51                – 52         |
|                    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |                                 |
|                    | PART                II OTHER INFORMATION                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |                                 |
| Item                1.  | Legal                Proceedings                                                                                                                                                                                        | 52                                   |
| Item                1A. | Risk                Factors                                                                                                                                                                                             | 52                - 53               |
| Item                2.  | Unregistered                Sales of Equity                Securities andUse of                Proceeds                                                                                                                 | 53                                   |
| Item                3.  | Defaults                Upon Senior                Securities                                                                                                                                                           | 53                                   |
| Item                4.  | Submission                of Matters to a Vote of                Security                Holders                                                                                                                        | 53                                   |
| Item                5.  | Other                Information                                                                                                                                                                                        | 53                                   |
| Item                6.  | Exhibits                                                                                                                                                                                                                | 54                                   |

----

ITEM      1.  Financial      Statements

CONDENSED

|                                                                                                           |   | December                31,   |       |   | March                31, |   |
|----------------------------------------------------------------------------------------------------------------|--------|-------------------------------|------------|--------|--------------------------|--------|
|                                                                                                           |   | 2007                          |       |   | 2007                     |   |
|                                                                                                           |   | (Unaudited)                   |       |   |                     |   |
|                                                                                                           |   | (In                thousands) |       |
| ASSETS                                                                                                         |   |                          |       |   |                     |   |
| Cash                and cash equivalents                                                                       |   | $                             | 203,723    |   |                     | $      | 75,272 |   |
| Reinsurance                recoverables and trade receivables, net                                             |   |                          | 179,848    |   |                     |   | 184,617 |   |
| Notes                and mortgage receivables, net                                                             |   |                          | 1,988      |   |                     |   | 1,669 |   |
| Inventories,                net                                                                                |   |                          | 62,150     |   |                     |   | 67,023 |   |
| Prepaid                expenses                                                                                |   |                          | 39,613     |   |                     |   | 52,080 |   |
| Investments,                fixed maturities and marketable equities                                           |   |                          | 655,189    |   |                     |   | 681,801 |   |
| Investments,                other                                                                              |   |                          | 166,063    |   |                     |   | 178,699 |   |
| Deferred                policy acquisition costs, net                                                          |   |                          | 38,447     |   |                     |   | 44,514 |   |
| Other                assets                                                                                    |   |                          | 161,294    |   |                     |   | 95,123 |   |
| Related                party assets                                                                            |   |                          | 299,232    |   |                     |   | 245,179 |   |
|                                                                                                           |   |                          | 1,807,547  |   |                     |   | 1,625,977 |   |
| Property,                plant and equipment, at cost:                                                         |   |                          |       |   |                     |   |   |   |
| Land                                                                                                           |   |                          | 206,994    |   |                     |   | 202,917 |   |
| Buildings                and improvements                                                                      |   |                          | 849,515    |   |                     |   | 802,289 |   |
| Furniture                and equipment                                                                         |   |                          | 317,727    |   |                     |   | 301,751 |   |
| Rental                trailers and other rental equipment                                                      |   |                          | 206,644    |   |                     |   | 200,208 |   |
| Rental                trucks                                                                                   |   |                          | 1,716,853  |   |                     |   | 1,604,123 |   |
| SAC                Holding II - property, plant and equipment                                                  |   |                          | -          |   |                     |   | 80,349 |   |
|                                                                                                           |   |                          | 3,297,733  |   |                     |   | 3,191,637 |   |
| Less:                Accumulated depreciation                                                                  |   |                          | (1,315,937 | )      |                     |   | (1,294,566 | ) |
| Total                property, plant and equipment                                                             |   |                          | 1,981,796  |   |                     |   | 1,897,071 |   |
| Total                assets                                                                                    |   | $                             | 3,789,343  |   |                     | $      | 3,523,048 |   |
| LIABILITIES                AND STOCKHOLDERS' EQUITY                                                            |   |                          |       |   |                     |   |   |   |
| Liabilities:                                                                                                   |   |                          |       |   |                     |   |   |   |
| Accounts                payable and accrued expenses                                                           |   | $                             | 269,293    |   |                     | $      | 251,197 |   |
| AMERCO's                notes and loans payable                                                                |   |                          | 1,427,257  |   |                     |   | 1,181,165 |   |
| SAC                Holding II notes and loans payable, non-recourse to AMERCO                                  |   |                          | -          |   |                     |   | 74,887 |   |
| Policy                benefits and losses, claims and loss expenses payable                                    |   |                          | 764,519    |   |                     |   | 768,751 |   |
| Liabilities                from investment contracts                                                           |   |                          | 350,698    |   |                     |   | 386,640 |   |
| Other                policyholders' funds and liabilities                                                      |   |                          | 10,475     |   |                     |   | 10,563 |   |
| Deferred                income                                                                                 |   |                          | 9,547      |   |                     |   | 16,478 |   |
| Deferred                income taxes                                                                           |   |                          | 144,699    |   |                     |   | 113,170 |   |
| Related                party liabilities                                                                       |   |                          | -          |   |                     |   | 2,099 |   |
| Total                liabilities                                                                               |   |                          | 2,976,488  |   |                     |   | 2,804,950 |   |
| Commitments                and contingencies (Notes 3, 6 and 7)                                                |   |                          |       |   |                     |   |   |   |
| Stockholders'                equity:                                                                           |   |                          |       |   |                     |   |   |   |
| Series                preferred stock, with or without par value, 50,000,000 shares                authorized: |   |                          |       |   |                     |   |   |   |
| Series                A preferred stock, with no par value, 6,100,000 shares                authorized;        |   |                          |       |   |                     |   |   |   |
| 6,100,000                shares issued and outstanding as of December 31 and March 31,                2007     |   |                          | -          |   |                     |   | - |   |
| Series                B preferred stock, with no par value, 100,000 shares authorized;                none     |   |                          |       |   |                     |   |   |   |
| issued                and outstanding as of December 31 and March 31, 2007                                     |   |                          | -          |   |                     |   | - |   |
| Series                common stock, with or without par value, 150,000,000 shares                authorized:   |   |                          |       |   |                     |   |   |   |
| Series                A common stock of $0.25 par value, 10,000,000 shares                authorized;          |   |                          |       |   |                     |   |   |   |
| none                issued and outstanding as of December 31 and March 31,                2007                 |   |                          | -          |   |                     |   | - |   |
| Common                stock of $0.25 par value, 150,000,000 shares authorized;                41,985,700       |   |                          |       |   |                     |   |   |   |
| issued                as of December 31 and March 31, 2007                                                     |   |                          | 10,497     |   |                     |   | 10,497 |   |
| Additional                paid-in capital                                                                      |   |                          | 418,848    |   |                     |   | 375,412 |   |
| Accumulated                other comprehensive loss                                                            |   |                          | (40,817    | )      |                     |   | (41,779 | ) |
| Retained                earnings                                                                               |   |                          | 932,703    |   |                     |   | 849,300 |   |
| Cost                of common shares in treasury, net (21,926,386 shares as of                                 |   |                          |       |   |                     |   |   |   |
| December                31, 2007 and 21,440,387 as of March 31, 2007)                                          |   |                          | (501,165   | )      |                     |   | (467,198 | ) |
| Unearned                employee stock ownership plan shares                                                   |   |                          | (7,211     | )      |                     |   | (8,134 | ) |
| Total                stockholders' equity                                                                      |   |                          | 812,855    |   |                     |   | 718,098 |   |
| Total                liabilities and stockholders' equity                                                      |   | $                             | 3,789,343  |   |                     | $      | 3,523,048 |   |

----

AMERCO

|                                                                         |   | Quarter                Ended December 31,                         |       |
|------------------------------------------------------------------------------|--------|-------------------------------------------------------------------|------------|
|                                                                         |   | 2007                                                              |       |   | 2006 |   |
|                                                                         |   | (Unaudited)                                                       |       |
|                                                                         |   | (In                thousands, except share and per share amounts) |       |
| Revenues:                                                                    |   |                                                              |       |   |   |   |
| Self-moving                equipment rentals                                 |   | $                                                                 | 329,905    |   |   | $ | 328,149 |   |
| Self-storage                revenues                                         |   |                                                              | 29,630     |   |   |   | 31,765 |   |
| Self-moving                and self-storage products and service sales       |   |                                                              | 43,211     |   |   |   | 46,351 |   |
| Property                management fees                                      |   |                                                              | 6,925      |   |   |   | 5,914 |   |
| Life                insurance premiums                                       |   |                                                              | 27,757     |   |   |   | 29,454 |   |
| Property                and casualty insurance premiums                      |   |                                                              | 7,738      |   |   |   | 6,555 |   |
| Net                investment and interest income                            |   |                                                              | 16,044     |   |   |   | 12,799 |   |
| Other                revenue                                                 |   |                                                              | 7,458      |   |   |   | 5,631 |   |
| Total                revenues                                                |   |                                                              | 468,668    |   |   |   | 466,618 |   |
|                                                                         |   |                                                              |       |   |   |   |   |   |
| Costs                and expenses:                                           |   |                                                              |       |   |   |   |   |   |
| Operating                expenses                                            |   |                                                              | 269,099    |   |   |   | 271,891 |   |
| Commission                expenses                                           |   |                                                              | 41,531     |   |   |   | 39,316 |   |
| Cost                of sales                                                 |   |                                                              | 26,677     |   |   |   | 24,970 |   |
| Benefits                and losses                                           |   |                                                              | 25,290     |   |   |   | 31,461 |   |
| Amortization                of deferred policy acquisition costs             |   |                                                              | 2,687      |   |   |   | 4,220 |   |
| Lease                expense                                                 |   |                                                              | 34,010     |   |   |   | 36,481 |   |
| Depreciation,                net of (gains) losses on disposals              |   |                                                              | 61,015     |   |   |   | 50,017 |   |
| Total                costs and expenses                                      |   |                                                              | 460,309    |   |   |   | 458,356 |   |
|                                                                         |   |                                                              |       |   |   |   |   |   |
| Earnings                from operations                                      |   |                                                              | 8,359      |   |   |   | 8,262 |   |
| Interest                expense                                              |   |                                                              | (25,227    | ) |   |   | (22,131 | ) |
| Pretax                loss                                                   |   |                                                              | (16,868    | ) |   |   | (13,869 | ) |
| Income                tax benefit                                            |   |                                                              | 6,474      |   |   |   | 4,389 |   |
| Net                loss                                                      |   |                                                              | (10,394    | ) |   |   | (9,480 | ) |
| Less:                Preferred stock dividends                               |   |                                                              | (3,241     | ) |   |   | (3,241 | ) |
| Loss                available to common shareholders                         |   | $                                                                 | (13,635    | ) |   | $ | (12,721 | ) |
| Basic                and diluted loss per common share                       |   | $                                                                 | (0.69      | ) |   | $ | (0.61 | ) |
| Weighted                average common shares outstanding: Basic and diluted |   |                                                              | 19,746,237 |   |   |   | 20,922,433 |   |

----

CONDENSED      CONSOLIDATED STATEMENTS OF OPERATIONS

|                                                                         |   | Nine                Months Ended December 31,                     |       |
|------------------------------------------------------------------------------|--------|-------------------------------------------------------------------|------------|
|                                                                         |   | 2007                                                              |       |   | 2006 |   |
|                                                                         |   | (Unaudited)                                                       |       |
|                                                                         |   | (In                thousands, except share and per share amounts) |       |
| Revenues:                                                                    |   |                                                              |       |   |   |   |
| Self-moving                equipment rentals                                 |   | $                                                                 | 1,165,783  |   |   | $ | 1,181,103 |   |
| Self-storage                revenues                                         |   |                                                              | 94,754     |   |   |   | 94,612 |   |
| Self-moving                and self-storage products and service sales       |   |                                                              | 174,420    |   |   |   | 175,718 |   |
| Property                management fees                                      |   |                                                              | 14,865     |   |   |   | 13,747 |   |
| Life                insurance premiums                                       |   |                                                              | 84,881     |   |   |   | 91,493 |   |
| Property                and casualty insurance premiums                      |   |                                                              | 20,986     |   |   |   | 18,407 |   |
| Net                investment and interest income                            |   |                                                              | 46,832     |   |   |   | 41,900 |   |
| Other                revenue                                                 |   |                                                              | 24,862     |   |   |   | 22,563 |   |
| Total                revenues                                                |   |                                                              | 1,627,383  |   |   |   | 1,639,543 |   |
|                                                                         |   |                                                              |       |   |   |   |   |   |
| Costs                and expenses:                                           |   |                                                              |       |   |   |   |   |   |
| Operating                expenses                                            |   |                                                              | 827,420    |   |   |   | 814,078 |   |
| Commission                expenses                                           |   |                                                              | 142,891    |   |   |   | 142,457 |   |
| Cost                of sales                                                 |   |                                                              | 95,268     |   |   |   | 88,734 |   |
| Benefits                and losses                                           |   |                                                              | 80,159     |   |   |   | 90,909 |   |
| Amortization                of deferred policy acquisition costs             |   |                                                              | 9,870      |   |   |   | 14,671 |   |
| Lease                expense                                                 |   |                                                              | 101,205    |   |   |   | 111,238 |   |
| Depreciation,                net of (gains) losses on disposals              |   |                                                              | 161,026    |   |   |   | 132,775 |   |
| Total                costs and expenses                                      |   |                                                              | 1,417,839  |   |   |   | 1,394,862 |   |
|                                                                         |   |                                                              |       |   |   |   |   |   |
| Earnings                from operations                                      |   |                                                              | 209,544    |   |   |   | 244,681 |   |
| Interest                expense                                              |   |                                                              | (76,493    | ) |   |   | (61,656 | ) |
| Amortization                of fees on early extinguishment of debt          |   |                                                              | -          |   |   |   | (6,969 | ) |
| Pretax                earnings                                               |   |                                                              | 133,051    |   |   |   | 176,056 |   |
| Income                tax expense                                            |   |                                                              | (51,219    | ) |   |   | (69,624 | ) |
| Net                earnings                                                  |   |                                                              | 81,832     |   |   |   | 106,432 |   |
| Less:                Preferred stock dividends                               |   |                                                              | (9,723     | ) |   |   | (9,723 | ) |
| Earnings                available to common shareholders                     |   | $                                                                 | 72,109     |   |   | $ | 96,709 |   |
| Basic                and diluted earnings per common share                   |   | $                                                                 | 3.64       |   |   | $ | 4.62 |   |
| Weighted                average common shares outstanding: Basic and diluted |   |                                                              | 19,820,107 |   |   |   | 20,910,089 |   |

----

CONDENSED      CONSOLIDATED STATEMENTS 

|                                                                                       |   | Nine                Months Ended December 31, |     |
|--------------------------------------------------------------------------------------------|--------|-----------------------------------------------|----------|
|                                                                                       |   | 2007                                          |     |   | 2006 |   |
|                                                                                       |   | (Unaudited)                                   |     |
|                                                                                       |   | (In                thousands)                 |     |
|  Cash                flow from operating activities:                                  |   |                                          |     |   |   |   |
|  Net                earnings                                                          |   | $                                             | 81,832   |   |   | $ | 106,432 |   |
|  Adjustments                to reconcile net earnings to cash provided by operations: |   |                                          |     |   |   |   |   |   |
|  Depreciation                                                                         |   |                                          | 170,184  |   |   |   | 133,571 |   |
|  Amortization                of deferred policy acquisition costs                     |   |                                          | 9,870    |   |   |   | 14,671 |   |
|  Change                in provision for loss on trade receivables                     |   |                                          | 75       |   |   |   | 202 |   |
|  Change                in provision for gain on mortgage notes                        |   |                                          | (29      | ) |   |   | (30 | ) |
|  Change                in provision for inventory reserves                            |   |                                          | 2,371    |   |   |   | - |   |
|  Net                gain on sale of real and personal property                        |   |                                          | (9,158   | ) |   |   | (796 | ) |
|  Net                loss on sale of investments                                       |   |                                          | 375      |   |   |   | 1,615 |   |
|  Write-off                of unamortized debt issuance costs                          |   |                                          | -        |   |   |   | 6,969 |   |
|  Deferred                income taxes                                                 |   |                                          | 9,760    |   |   |   | 15,451 |   |
|  Net                change in other operating assets and liabilities:                 |   |                                          |     |   |   |   |   |   |
| Reinsurance                recoverables and trade receivables                              |   |                                          | 4,816    |   |   |   | 18,841 |   |
| Inventories                                                                                |   |                                          | 1,586    |   |   |   | (3,082 | ) |
| Prepaid                expenses                                                            |   |                                          | 12,196   |   |   |   | 4,325 |   |
| Capitalization                of deferred policy acquisition costs                         |   |                                          | (3,894   | ) |   |   | (4,192 | ) |
| Other                assets                                                                |   |                                          | 1,040    |   |   |   | 2,487 |   |
| Related                party assets                                                        |   |                                          | 35,003   |   |   |   | 40,279 |   |
| Accounts                payable and accrued expenses                                       |   |                                          | 5,366    |   |   |   | 15,145 |   |
| Policy                benefits and losses, claims and loss expenses payable                |   |                                          | (3,038   | ) |   |   | (16,758 | ) |
| Other                policyholders' funds and liabilities                                  |   |                                          | (88      | ) |   |   | 1,622 |   |
| Deferred                income                                                             |   |                                          | (6,246   | ) |   |   | (2,359 | ) |
| Related                party liabilities                                                   |   |                                          | (9,131   | ) |   |   | (23,634 | ) |
|  Net                cash provided by operating activities                             |   |                                          | 302,890  |   |   |   | 310,759 |   |
|                                                                                       |   |                                          |     |   |   |   |   |   |
|  Cash                flows from investing activities:                                 |   |                                          |     |   |   |   |   |   |
|  Purchases                of:                                                         |   |                                          |     |   |   |   |   |   |
| Property,                plant and equipment                                               |   |                                          | (440,328 | ) |   |   | (455,598 | ) |
| Short                term investments                                                      |   |                                          | (171,918 | ) |   |   | (171,177 | ) |
| Fixed                maturities investments                                                |   |                                          | (56,505  | ) |   |   | (74,194 | ) |
| Equity                securities                                                           |   |                                          | (27      | ) |   |   | - |   |
| Real                estate                                                                 |   |                                          | (3,404   | ) |   |   | - |   |
| Mortgage                loans                                                              |   |                                          | (12,522  | ) |   |   | (9,550 | ) |
|  Proceeds                from sale of:                                                |   |                                          |     |   |   |   |   |   |
| Property,                plant and equipment                                               |   |                                          | 134,099  |   |   |   | 71,668 |   |
| Short                term investments                                                      |   |                                          | 192,974  |   |   |   | 199,080 |   |
| Fixed                maturities investments                                                |   |                                          | 77,773   |   |   |   | 71,181 |   |
| Cash                received in excess of purchase for company acquired                    |   |                                          | -        |   |   |   | 1,235 |   |
| Equity                securities                                                           |   |                                          | 46       |   |   |   | - |   |
| Preferred                stock                                                             |   |                                          | 5,625    |   |   |   | 225 |   |
| Real                estate                                                                 |   |                                          | 784      |   |   |   | 9,542 |   |
| Mortgage                loans                                                              |   |                                          | 6,394    |   |   |   | 4,835 |   |
| Payments                from notes and mortgage receivables                                |   |                                          | 89       |   |   |   | 752 |   |
|  Net                cash used by investing activities                                 |   |                                          | (266,920 | ) |   |   | (352,001 | ) |
|                                                                                       |   |                                          |     |   |   |   |   |   |
|  Cash                flows from financing activities:                                 |   |                                          |     |   |   |   |   |   |
| Borrowings                from credit facilities                                           |   |                                          | 487,626  |   |   |   | 321,189 |   |
| Principal                repayments on credit facilities                                   |   |                                          | (244,108 | ) |   |   | (64,383 | ) |
| Debt                issuance costs                                                         |   |                                          | (11,876  | ) |   |   | (2,323 | ) |
| Leveraged                Employee Stock Ownership Plan - repayments from loan              |   |                                          | 923      |   |   |   | 895 |   |
| Treasury                stock repurchases                                                  |   |                                          | (33,966  | ) |   |   | - |   |
| Securitization                deposits                                                     |   |                                          | (60,764  | ) |   |   | - |   |
| Preferred                stock dividends paid                                              |   |                                          | (9,723   | ) |   |   | (9,723 | ) |
| Investment                contract deposits                                                |   |                                          | 13,864   |   |   |   | 12,634 |   |
| Investment                contract withdrawals                                             |   |                                          | (49,806  | ) |   |   | (59,353 | ) |
|  Net                cash provided by financing activities                             |   |                                          | 92,170   |   |   |   | 198,936 |   |
|                                                                                       |   |                                          |     |   |   |   |   |   |
|  Effects                of exchange rate on cash                                      |   |                                          | 311      |   |   |   | (22 | ) |
|                                                                                       |   |                                          |     |   |   |   |   |   |
|  Increase                in cash equivalents                                          |   |                                          | 128,451  |   |   |   | 157,672 |   |
|  Cash                and cash equivalents at the beginning of period                  |   |                                          | 75,272   |   |   |   | 155,459 |   |
|  Cash                and cash equivalents at the end of period                        |   | $                                             | 203,723  |   |   | $ | 313,131 |   |

----

NOTES      TO CONDENSED 

----

----

|                                                                                                                            |   |                         |                      |   |       |   |      | December                31,   |   |    | March                31, |   |
|---------------------------------------------------------------------------------------------------------------------------------|--------|------------------------------|---------------------------|--------|------------|--------|-----------|-------------------------------|--------|---------|--------------------------|--------|
|                                                                                                                            |   | 2008                Rate (a) |                      |   | Maturities |   |      | 2007                          |   |    | 2007                     |   |
|                                                                                                                            |   |                         |                      |   |       |   |      | (Unaudited)                   |   |    |                     |   |
|                                                                                                                            |   |                         |                      |   |       |   |      | (In                thousands) |   |
| Real                estate loan (amortizing term)                                                                               |   |                         | 6.93                      | %      |       | 2018   |      |                          | $      | 287,500 |                     |   | $ | 295,000 |   |
| Real                estate loan (revolving credit)                                                                              |   |                         | -                         |   |       | 2018   |      |                          |   | -       |                     |   |   | - |   |
| Senior                mortgages                                                                                                 |   |                         | 5.19%              - 5.75 | %      |       | 2015   |      |                          |   | 517,338 |                     |   |   | 521,332 |   |
| Construction                loan (revolving credit)                                                                             |   |                         | 6.75                      | %      |       | 2009   |      |                          |   | 21,700  |                     |   |   | - |   |
| Working                capital loan (revolving credit)                                                                          |   |                         | -                         |   |       | 2008   |      |                          |   | -       |                     |   |   | - |   |
| Fleet                loans (amortizing term)                                                                                    |   |                         | 6.11%              - 7.42 | %      |       |   | 2012-2014 |                          |   |    | 307,192                  |   |   |   | 364,833 |   |
| Fleet                loans (securitization)                                                                                     |   |                         | 5.40%              - 5.56 | %      |       |   | 2010-2014 |                          |   |    | 293,527                  |   |   |   | - |   |
| Fleet                loan (revolving credit)                                                                                    |   |                         | -                         |   |       | 2011   |      |                          |   | -       |                     |   |   | - |   |
| Total                AMERCO notes and loans payable                                                                             |   |                         |                      |   |       |   |      |                          |   | $       | 1,427,257                |   |   | $ | 1,181,165 |   |
|                                                                                                                            |   |                         |                      |   |       |   |      |                          |   |    |                     |   |   |   |   |   |
| (a)                Interest rate as of December 31, 2007, including the effect of applicable                hedging instruments |   |                         |                      |   |       |

----

----

----

|                                  |   | Year                Ending December 31, |    |
|---------------------------------------|--------|-----------------------------------------|---------|
|                                  |   | 2008                                    |    |   | 2009 |   |   | 2010 |   |   | 2011 |   |   | 2012 |   |   | Thereafter |   |
|                                  |   | (Unaudited)                             |    |
|                                  |   | (In                thousands)           |    |
| Notes                payable, secured |   | $                                       | 112,948 |   |   | $ | 117,230 |   |   | $ | 155,710 |   |   | $ | 81,823 |   |   | $ | 133,027 |   |   | $ | 826,519 |   |

----

|                                                      |   | Quarter                Ended December 31, |   |
|-----------------------------------------------------------|--------|-------------------------------------------|--------|
|                                                      |   | 2007                                      |   |   | 2006 |   |
|                                                      |   | (Unaudited)                               |   |
|                                                      |   | (In                thousands)             |   |
| Interest                expense                           |   | $                                         | 23,531 |   |   | $ | 20,531 |   |
| Capitalized                interest                       |   |                                      | (227   | ) |   |   | (150 | ) |
| Amortization                of transaction costs          |   |                                      | 1,451  |   |   |   | 787 |   |
| Interest                income resulting from derivatives |   |                                      | (14    | ) |   |   | (552 | ) |
| Total                AMERCO interest expense              |   |                                      | 24,741 |   |   |   | 20,616 |   |
| SAC                Holding II interest expense            |   |                                      | 1,070  |   |   |   | 3,265 |   |
| Less:                Intercompany transactions            |   |                                      | 584    |   |   |   | 1,750 |   |
| Total                SAC Holding II interest expense      |   |                                      | 486    |   |   |   | 1,515 |   |
| Total                                                     |   | $                                         | 25,227 |   |   | $ | 22,131 |   |

|                                                                                                    |   | Nine                Months Ended December 31, |   |
|---------------------------------------------------------------------------------------------------------|--------|-----------------------------------------------|--------|
|                                                                                                    |   | 2007                                          |   |   | 2006 |   |
|                                                                                                    |   | (Unaudited)                                   |   |
|                                                                                                    |   | (In                thousands)                 |   |
| Interest                expense                                                                         |   | $                                             | 71,027 |   |   | $ | 56,419 |   |
| Capitalized                interest                                                                     |   |                                          | (832   | ) |   |   | (321 | ) |
| Amortization                of transaction costs                                                        |   |                                          | 3,846  |   |   |   | 3,161 |   |
| Interest                income resulting from derivatives                                               |   |                                          | (1,035 | ) |   |   | (2,153 | ) |
| Amortization                of transaction costs related to early extinguishment of                debt |   |                                          | -      |   |   |   | 6,969 |   |
| Total                AMERCO interest expense                                                            |   |                                          | 73,006 |   |   |   | 64,075 |   |
| SAC                Holding II interest expense                                                          |   |                                          | 7,537  |   |   |   | 9,865 |   |
| Less:                Intercompany transactions                                                          |   |                                          | 4,050  |   |   |   | 5,315 |   |
| Total                SAC Holding II interest expense                                                    |   |                                          | 3,487  |   |   |   | 4,550 |   |
| Total                                                                                                   |   | $                                             | 76,493 |   |   | $ | 68,625 |   |

----

----

|                                                             |   | Revolving                Credit Activity             |   |
|------------------------------------------------------------------|--------|------------------------------------------------------|--------|
|                                                             |   | Quarter                Ended December 31,            |   |
|                                                             |   | 2007                                                 |   |   | 2006 |   |
|                                                             |   | (Unaudited)                                          |   |
|                                                             |   | (In                thousands, except interest rates) |   |
| Weighted                average interest rate during the quarter |   |                                                 | 6.47   | % |   |   | 7.08 | % |
| Interest                rate at the end of the quarter           |   |                                                 | 6.75   | % |   |   | 7.10 | % |
| Maximum                amount outstanding during the quarter     |   | $                                                    | 41,700 |   |   | $ | 90,000 |   |
| Average                amount outstanding during the quarter     |   | $                                                    | 35,830 |   |   | $ | 90,000 |   |
| Facility                fees                                     |   | $                                                    | 192    |   |   | $ | 57 |   |

|                                                                       |   | Revolving                Credit Activity             |    |
|----------------------------------------------------------------------------|--------|------------------------------------------------------|---------|
|                                                                       |   | Nine                Months Ended December 31,        |    |
|                                                                       |   | 2007                                                 |    |   | 2006 |   |
|                                                                       |   | (Unaudited)                                          |    |
|                                                                       |   | (In                thousands, except interest rates) |    |
| Weighted                average interest rate during the first nine months |   |                                                 | 6.58    | % |   |   | 6.97 | % |
| Interest                rate at the end of the first nine months           |   |                                                 | 6.75    | % |   |   | 7.10 | % |
| Maximum                amount outstanding during the first nine months     |   | $                                                    | 138,700 |   |   | $ | 90,000 |   |
| Average                amount outstanding during the first nine months     |   | $                                                    | 78,576  |   |   | $ | 90,000 |   |
| Facility                fees                                               |   | $                                                    | 326     |   |   | $ | 171 |   |

|                                                          |   | Foreign                Currency Translation |    |   | Unrealized                Gain (Loss) on Investments |   |   | Fair                Market Value of Cash Flow Hedge |   |   | FASB                Statement No. 158 Adjustment |   |   | Accumulated                Other Comprehensive Income (Loss) |   |
|---------------------------------------------------------------|--------|---------------------------------------------|---------|--------|------------------------------------------------------|--------|--------|-----------------------------------------------------|--------|--------|--------------------------------------------------|--------|--------|--------------------------------------------------------------|--------|
|                                                          |   | (Unaudited)                                 |    |
|                                                          |   | (In                thousands)               |    |
| Balance                at March 31, 2007                      |   | $                                           | (36,166 | )      |                                                 | $      | (355   | )                                                   |   | $      | (5,105                                           | )      |   | $                                                            | (153   | ) |   | $ | (41,779 | ) |
| Foreign                currency translation                   |   |                                        | 12,430  |   |                                                 |   | -      |                                                |   |   | -                                                |   |   |                                                         | -      |   |   |   | 12,430 |   |
| Unrealized                gain on investments                 |   |                                        | -       |   |                                                 |   | 819    |                                                |   |   | -                                                |   |   |                                                         | -      |   |   |   | 819 |   |
| Change                in fair market value of cash flow hedge |   |                                        | -       |   |                                                 |   | -      |                                                |   |   | (12,287                                          | )      |   |                                                         | -      |   |   |   | (12,287 | ) |
| Balance                at December 31, 2007                   |   | $                                           | (23,736 | )      |                                                 | $      | 464    |                                                |   | $      | (17,392                                          | )      |   | $                                                            | (153   | ) |   | $ | (40,817 | ) |

----

AMERCO      AND CONSOLIDATED ENTITIES

|                                   |   | Property,Plant                andEquipment |   |   | RentalEquipment               |   |    | Total  |   |
|----------------------------------------|--------|--------------------------------------------|--------|--------|-------------------------------|--------|---------|--------|--------|
|                                   |   | (Unaudited)                                |   |
|                                   |   |                                       |   |   | (In                thousands) |   |    |   |   |
| Year-ended                December 31: |   |                                       |   |   |                          |   |    |   |   |
| 2008                                   |   | $                                          | 12,439 |   |                          | $      | 112,448 |   |   | $ | 124,887 |   |
| 2009                                   |   |                                       | 12,065 |   |                          |   | 99,548  |   |   |   | 111,613 |   |
| 2010                                   |   |                                       | 11,706 |   |                          |   | 81,635  |   |   |   | 93,341 |   |
| 2011                                   |   |                                       | 11,564 |   |                          |   | 64,115  |   |   |   | 75,679 |   |
| 2012                                   |   |                                       | 10,726 |   |                          |   | 49,550  |   |   |   | 60,276 |   |
| Thereafter                             |   |                                       | 20,633 |   |                          |   | 42,468  |   |   |   | 63,101 |   |
| Total                                  |   | $                                          | 79,133 |   |                          | $      | 449,764 |   |   | $ | 528,897 |   |

----

----

----

----

|                                                                   |   | December                31,   |    |   | March                31, |   |
|------------------------------------------------------------------------|--------|-------------------------------|---------|--------|--------------------------|--------|
|                                                                   |   | 2007                          |    |   | 2007                     |   |
|                                                                   |   | (Unaudited)                   |    |   |                     |   |
|                                                                   |   | (In                thousands) |    |
| Private                Mini notes, receivables and interest            |   | $                             | 73,184  |   |                     | $      | 71,785 |   |
| Oxford                note receivable from SAC Holding Corporation     |   |                          | -       |   |                     |   | 5,040 |   |
| U-Haul                notes receivable from SAC Holding Corporation    |   |                          | 198,288 |   |                     |   | 123,578 |   |
| U-Haul                interest receivable from SAC Holding Corporation |   |                          | 4,267   |   |                     |   | 23,361 |   |
| U-Haul                receivable from SAC Holding Corporation          |   |                          | 18,215  |   |                     |   | 16,596 |   |
| U-Haul                receivable from Mercury                          |   |                          | 5,242   |   |                     |   | 4,278 |   |
| Other                                                                  |   |                          | 36      |   |                     |   | 541 |   |
|                                                                   |   | $                             | 299,232 |   |                     | $      | 245,179 |   |

|   | AMERCO’s                four reportable segments are: |
|--------|-------------------------------------------------------------|

|   | (a) | Moving                and Storage, comprised of AMERCO, U-Haul, and Real Estate and the                subsidiaries of U-Haul and Real Estate |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | Property                and Casualty Insurance, comprised of RepWest and its wholly-owned                subsidiaries |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------|

|   | (c) | Life                Insurance, comprised of Oxford and its wholly-owned subsidiaries |
|--------|-----|--------------------------------------------------------------------------------------|

|   | (d) | SAC                Holding II and its subsidiaries (through October 2007) |
|--------|-----|---------------------------------------------------------------------------|

----

|                                                                 |   | Moving                & Storage |      |   | AMERCO                Legal Group |   |
|----------------------------------------------------------------------|--------|-------------------------------------|-----------|--------|-----------------------------------|--------|
|                                                                 |   | AMERCO                              |      |   | U-Haul                            |   |   | Real                Estate |   |   | Eliminations |   |   |   | Moving                & StorageConsolidated |   |   | Property                & Casualty Insurance (a) |   |   | LifeInsurance                (a) |   |   | Eliminations |   |   |   | AMERCOConsolidated |   |
|                                                                 |   | (Unaudited)                         |      |
|                                                                 |   | (In                thousands)       |      |
| Assets:                                                              |   |                                |      |
| Cash                and cash equivalents                             |   | $                                   | 30        |   |                              | $      | 190,393 |   |   | $ | 24 |   |   | $ | - |   |   |   | $ | 190,447 |   |   | $ | 6,288 |   |   | $ | 6,988 |   |   | $ | - |   |   |   | $ | 203,723 |   |
| Reinsurance                recoverables and trade receivables, net   |   |                                | -         |   |                              |   | 17,742 |   |   |   | 27 |   |   |   | - |   |   |   |   | 17,769 |   |   |   | 151,271 |   |   |   | 10,808 |   |   |   | - |   |   |   |   | 179,848 |   |
| Notes                and mortgage receivables, net                   |   |                                | -         |   |                              |   | 1,209 |   |   |   | 779 |   |   |   | - |   |   |   |   | 1,988 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 1,988 |   |
| Inventories,                net                                      |   |                                | -         |   |                              |   | 62,150 |   |   |   | - |   |   |   | - |   |   |   |   | 62,150 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 62,150 |   |
| Prepaid                expenses                                      |   |                                | -         |   |                              |   | 39,479 |   |   |   | 134 |   |   |   | - |   |   |   |   | 39,613 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 39,613 |   |
| Investments,                fixed maturities and marketable equities |   |                                | -         |   |                              |   | - |   |   |   | - |   |   |   | - |   |   |   |   | - |   |   |   | 150,459 |   |   |   | 504,730 |   |   |   | - |   |   |   |   | 655,189 |   |
| Investments,                other                                    |   |                                | -         |   |                              |   | 966 |   |   |   | 13,910 |   |   |   | - |   |   |   |   | 14,876 |   |   |   | 74,001 |   |   |   | 77,186 |   |   |   | - |   |   |   |   | 166,063 |   |
| Deferred                policy acquisition costs, net                |   |                                | -         |   |                              |   | - |   |   |   | - |   |   |   | - |   |   |   |   | - |   |   |   | 45 |   |   |   | 38,402 |   |   |   | - |   |   |   |   | 38,447 |   |
| Other                assets                                          |   |                                | 8         |   |                              |   | 127,600 |   |   |   | 30,887 |   |   |   | - |   |   |   |   | 158,495 |   |   |   | 2,087 |   |   |   | 712 |   |   |   | - |   |   |   |   | 161,294 |   |
| Related                party assets                                  |   |                                | 1,195,114 |   |                              |   | 242,708 |   |   |   | 210 |   |   |   | (1,133,486 | ) | (c) |   |   | 304,546 |   |   |   | 6,905 |   |   |   | - |   |   |   | (12,219 | ) | (c) |   |   | 299,232 |   |
|                                                                 |   |                                | 1,195,152 |   |                              |   | 682,247 |   |   |   | 45,971 |   |   |   | (1,133,486 | ) |   |   |   | 789,884 |   |   |   | 391,056 |   |   |   | 638,826 |   |   |   | (12,219 | ) |   |   |   | 1,807,547 |   |
|                                                                 |   |                                |      |   |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Investment                in subsidiaries                            |   |                                | (192,410  | )      |                              |   | - |   |   |   | - |   |   |   | 483,667 |   | (b) |   |   | 291,257 |   |   |   | - |   |   |   | - |   |   |   | (291,257 | ) | (b) |   |   | - |   |
|                                                                 |   |                                |      |   |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Property,                plant and equipment, at cost:               |   |                                |      |   |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Land                                                                 |   |                                | -         |   |                              |   | 43,945 |   |   |   | 163,049 |   |   |   | - |   |   |   |   | 206,994 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 206,994 |   |
| Buildings                and improvements                            |   |                                | -         |   |                              |   | 125,199 |   |   |   | 724,316 |   |   |   | - |   |   |   |   | 849,515 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 849,515 |   |
| Furniture                and equipment                               |   |                                | 7,053     |   |                              |   | 292,581 |   |   |   | 18,093 |   |   |   | - |   |   |   |   | 317,727 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 317,727 |   |
| Rental                trailers and other rental equipment            |   |                                | -         |   |                              |   | 206,644 |   |   |   | - |   |   |   | - |   |   |   |   | 206,644 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 206,644 |   |
| Rental                trucks                                         |   |                                | -         |   |                              |   | 1,716,853 |   |   |   | - |   |   |   | - |   |   |   |   | 1,716,853 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 1,716,853 |   |
|                                                                 |   |                                | 7,053     |   |                              |   | 2,385,222 |   |   |   | 905,458 |   |   |   | - |   |   |   |   | 3,297,733 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 3,297,733 |   |
| Less:  Accumulated                depreciation             |   |                                | (1,137    | )      |                              |   | (1,009,715 | ) |   |   | (305,085 | ) |   |   | - |   |   |   |   | (1,315,937 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | (1,315,937 | ) |
| Total                property, plant and equipment                   |   |                                | 5,916     |   |                              |   | 1,375,507 |   |   |   | 600,373 |   |   |   | - |   |   |   |   | 1,981,796 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 1,981,796 |   |
| Total                assets                                          |   | $                                   | 1,008,658 |   |                              | $      | 2,057,754 |   |   | $ | 646,344 |   |   | $ | (649,819 | ) |   |   | $ | 3,062,937 |   |   | $ | 391,056 |   |   | $ | 638,826 |   |   | $ | (303,476 | ) |   |   | $ | 3,789,343 |   |
|                                                                 |   |                                |      |   |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (a)  Balances                as of September 30, 2007      |   |                                |      |   |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (b)                Eliminate investment in subsidiaries              |   |                                |      |   |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (c)                Eliminate intercompany receivables and payables   |   |                                |      |   |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

|                                                                                       |   | Moving                & Storage |      |   | AMERCO                Legal Group |   |
|--------------------------------------------------------------------------------------------|--------|-------------------------------------|-----------|--------|-----------------------------------|--------|
|                                                                                       |   | AMERCO                              |      |   | U-Haul                            |   |   | Real                Estate |   |   | Eliminations |   |   |   | Moving                & StorageConsolidated |   |   | Property                & Casualty Insurance (a) |   |   | LifeInsurance                (a) |   |   | Eliminations |   |   |   | AMERCOConsolidated |   |
|                                                                                       |   | (Unaudited)                         |      |
|                                                                                       |   | (In                thousands)       |      |
| Liabilities:                                                                               |   |                                |      |   |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Accounts                payable and accrued expenses                                       |   | $                                   | 1,521     |   |                              | $      | 256,794 |   |   | $ | 5,534 |   |   | $ | - |   |   |   | $ | 263,849 |   |   | $ | - |   |   | $ | 5,444 |   |   | $ | - |   |   |   | $ | 269,293 |   |
| AMERCO's                notes and loans payable                                            |   |                                | -         |   |                              |   | 649,359 |   |   |   | 777,898 |   |   |   | - |   |   |   |   | 1,427,257 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 1,427,257 |   |
| Policy                benefits and losses, claims and loss expenses                payable |   |                                | -         |   |                              |   | 355,293 |   |   |   | - |   |   |   | - |   |   |   |   | 355,293 |   |   |   | 270,732 |   |   |   | 138,494 |   |   |   | - |   |   |   |   | 764,519 |   |
| Liabilities                from investment contracts                                       |   |                                | -         |   |                              |   | - |   |   |   | - |   |   |   | - |   |   |   |   | - |   |   |   | - |   |   |   | 350,698 |   |   |   | - |   |   |   |   | 350,698 |   |
| Other                policyholders' funds and liabilities                                  |   |                                | -         |   |                              |   | - |   |   |   | - |   |   |   | - |   |   |   |   | - |   |   |   | 8,157 |   |   |   | 2,318 |   |   |   | - |   |   |   |   | 10,475 |   |
| Deferred                income                                                             |   |                                | -         |   |                              |   | 9,547 |   |   |   | - |   |   |   | - |   |   |   |   | 9,547 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 9,547 |   |
| Deferred                income taxes                                                       |   |                                | 187,071   |   |                              |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 187,071 |   |   |   | (37,893 | ) |   |   | (4,479 | ) |   |   | - |   |   |   |   | 144,699 |   |
| Related                party liabilities                                                   |   |                                | -         |   |                              |   | 1,095,516 |   |   |   | 45,035 |   |   |   | (1,133,486 | ) | (c) |   |   | 7,065 |   |   |   | 1,983 |   |   |   | 3,171 |   |   |   | (12,219 | ) | (c) |   |   | - |   |
| Total                liabilities                                                           |   |                                | 188,592   |   |                              |   | 2,366,509 |   |   |   | 828,467 |   |   |   | (1,133,486 | ) |   |   |   | 2,250,082 |   |   |   | 242,979 |   |   |   | 495,646 |   |   |   | (12,219 | ) |   |   |   | 2,976,488 |   |
|                                                                                       |   |                                |      |   |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Stockholders'                equity:                                                       |   |                                |      |   |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Series                preferred stock:                                                     |   |                                |      |   |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Series                A preferred stock                                                    |   |                                | -         |   |                              |   | - |   |   |   | - |   |   |   | - |   |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | - |   |
| Series                B preferred stock                                                    |   |                                | -         |   |                              |   | - |   |   |   | - |   |   |   | - |   |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | - |   |
| Series                A common stock                                                       |   |                                | -         |   |                              |   | - |   |   |   | - |   |   |   | - |   |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | - |   |
| Common                stock                                                                |   |                                | 10,497    |   |                              |   | 540 |   |   |   | 1 |   |   |   | (541 | ) | (b) |   |   | 10,497 |   |   |   | 3,300 |   |   |   | 2,500 |   |   |   | (5,800 | ) | (b) |   |   | 10,497 |   |
| Additional                paid-in capital                                                  |   |                                | 418,848   |   |                              |   | 121,230 |   |   |   | 147,481 |   |   |   | (268,711 | ) | (b) |   |   | 418,848 |   |   |   | 86,121 |   |   |   | 26,271 |   |   |   | (112,392 | ) | (b) |   |   | 418,848 |   |
| Accumulated                other comprehensive income (loss)                               |   |                                | (40,817   | )      |                              |   | (41,282 | ) |   |   | - |   |   |   | 41,282 |   | (b) |   |   | (40,817 | ) |   |   | 73 |   |   |   | 391 |   |   |   | (464 | ) | (b) |   |   | (40,817 | ) |
| Retained                earnings (deficit)                                                 |   |                                | 932,703   |   |                              |   | (382,032 | ) |   |   | (329,605 | ) |   |   | 711,637 |   | (b) |   |   | 932,703 |   |   |   | 58,583 |   |   |   | 114,018 |   |   |   | (172,601 | ) | (b) |   |   | 932,703 |   |
| Cost                of common shares in treasury, net                                      |   |                                | (501,165  | )      |                              |   | - |   |   |   | - |   |   |   | - |   |   |   |   | (501,165 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | (501,165 | ) |
| Unearned                employee stock  ownership plan shares                    |   |                                | -         |   |                              |   | (7,211 | ) |   |   | - |   |   |   | - |   |   |   |   | (7,211 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | (7,211 | ) |
| Total                stockholders' equity (deficit)                                        |   |                                | 820,066   |   |                              |   | (308,755 | ) |   |   | (182,123 | ) |   |   | 483,667 |   |   |   |   | 812,855 |   |   |   | 148,077 |   |   |   | 143,180 |   |   |   | (291,257 | ) |   |   |   | 812,855 |   |
| Total                liabilities and stockholders' equity                                  |   | $                                   | 1,008,658 |   |                              | $      | 2,057,754 |   |   | $ | 646,344 |   |   | $ | (649,819 | ) |   |   | $ | 3,062,937 |   |   | $ | 391,056 |   |   | $ | 638,826 |   |   | $ | (303,476 | ) |   |   | $ | 3,789,343 |   |
|                                                                                       |   |                                |      |   |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (a)  Balances                as of September 30, 2007                            |   |                                |      |   |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (b)                Eliminate investment in subsidiaries                                    |   |                                |      |   |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (c)                Eliminate intercompany receivables and payables                         |   |                                |      |   |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

|                                                                                                                                                                     |   | Moving                & Storage |      |   | AMERCO                Legal Group |   |      |                       | AMERCO                as Consolidated |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------------|-----------|--------|-----------------------------------|--------|-----------|----------------------------|---------------------------------------|--------|
|                                                                                                                                                                     |   | AMERCO                              |      |   | U-Haul                            |   |      | Real                Estate |                                  |   | Eliminations |   |   |   | Moving                & StorageConsolidated |   |   | Property                & Casualty Insurance (a) |   |   | LifeInsurance                (a) |   |   | Eliminations |   |   |   | AMERCOConsolidated |   |   | SAC                Holding II |   |   | Eliminations |   |   |   | Total                Consolidated |   |
|                                                                                                                                                                     |   |                                |      |
|                                                                                                                                                                     |   | (In                thousands)       |      |
| Assets:                                                                                                                                                                  |   |                                |      |
| Cash                and cash equivalents                                                                                                                                 |   | $                                   | 9         |   |                              | $      | 63,490    |                       |                                  | $      | 807 |   |   | $ | - |   |   |   | $ | 64,306 |   |   | $ | 4,228 |   |   | $ | 6,738 |   |   | $ | - |   |   |   | $ | 75,272 |   |   | $ | - |   |   | $ | - |   |   |   | $ | 75,272 |   |
| Reinsurance                recoverables and trade receivables, net                                                                                                       |   |                                | -         |   |                              |   | 18,343    |                       |                                  |   | 27 |   |   |   | - |   |   |   |   | 18,370 |   |   |   | 155,172 |   |   |   | 11,075 |   |   |   | - |   |   |   |   | 184,617 |   |   |   | - |   |   |   | - |   |   |   |   | 184,617 |   |
| Notes                and mortgage receivables, net                                                                                                                       |   |                                | -         |   |                              |   | 1,236     |                       |                                  |   | 433 |   |   |   | - |   |   |   |   | 1,669 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 1,669 |   |   |   | - |   |   |   | - |   |   |   |   | 1,669 |   |
| Inventories,                net                                                                                                                                          |   |                                | -         |   |                              |   | 65,646    |                       |                                  |   | - |   |   |   | - |   |   |   |   | 65,646 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 65,646 |   |   |   | 1,377 |   |   |   | - |   |   |   |   | 67,023 |   |
| Prepaid                expenses                                                                                                                                          |   |                                | 11,173    |   |                              |   | 40,586    |                       |                                  |   | 30 |   |   |   | - |   |   |   |   | 51,789 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 51,789 |   |   |   | 291 |   |   |   | - |   |   |   |   | 52,080 |   |
| Investments,                fixed maturities and marketable equities                                                                                                     |   |                                | -         |   |                              |   | -         |                       |                                  |   | - |   |   |   | - |   |   |   |   | - |   |   |   | 156,540 |   |   |   | 525,261 |   |   |   | - |   |   |   |   | 681,801 |   |   |   | - |   |   |   | - |   |   |   |   | 681,801 |   |
| Investments,                other                                                                                                                                        |   |                                | -         |   |                              |   | 1,119     |                       |                                  |   | 10,714 |   |   |   | - |   |   |   |   | 11,833 |   |   |   | 74,716 |   |   |   | 92,150 |   |   |   | - |   |   |   |   | 178,699 |   |   |   | - |   |   |   | - |   |   |   |   | 178,699 |   |
| Deferred                policy acquisition costs, net                                                                                                                    |   |                                | -         |   |                              |   | -         |                       |                                  |   | - |   |   |   | - |   |   |   |   | - |   |   |   | 196 |   |   |   | 44,318 |   |   |   | - |   |   |   |   | 44,514 |   |   |   | - |   |   |   | - |   |   |   |   | 44,514 |   |
| Other                assets                                                                                                                                              |   |                                | 12        |   |                              |   | 56,264    |                       |                                  |   | 31,794 |   |   |   | - |   |   |   |   | 88,070 |   |   |   | 1,744 |   |   |   | 833 |   |   |   | - |   |   |   |   | 90,647 |   |   |   | 4,476 |   |   |   | - |   |   |   |   | 95,123 |   |
| Related                party assets                                                                                                                                      |   |                                | 1,180,929 |   |                              |   | 251,288   |                       |                                  |   | 12,663 |   |   |   | (1,113,379 | ) | (d) |   |   | 331,501 |   |   |   | 9,909 |   |   |   | 5,040 |   |   |   | (20,840 | ) | (d) |   |   | 325,610 |   |   |   | 5 |   |   |   | (80,436 | ) | (d) |   |   | 245,179 |   |
|                                                                                                                                                                     |   |                                | 1,192,123 |   |                              |   | 497,972   |                       |                                  |   | 56,468 |   |   |   | (1,113,379 | ) |   |   |   | 633,184 |   |   |   | 402,505 |   |   |   | 685,415 |   |   |   | (20,840 | ) |   |   |   | 1,700,264 |   |   |   | 6,149 |   |   |   | (80,436 | ) |   |   |   | 1,625,977 |   |
| Investment                in subsidiaries                                                                                                                                |   |                                | (235,860  | )      |                              |   | -         |                       |                                  |   | - |   |   |   | 514,745 |   | (c) |   |   | 278,885 |   |   |   | - |   |   |   | - |   |   |   | (278,885 | ) | (c) |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | - |   |
| Investment                in SAC Holding II                                                                                                                              |   |                                | (9,256    | )      |                              |   | -         |                       |                                  |   | - |   |   |   | - |   |   |   |   | (9,256 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | (9,256 | ) |   |   | - |   |   |   | 9,256 |   | (c) |   |   | - |   |
| Total                investment in subsidiaries and SAC Holding II                                                                                                       |   |                                | (245,116  | )      |                              |   | -         |                       |                                  |   | - |   |   |   | 514,745 |   |   |   |   | 269,629 |   |   |   | - |   |   |   | - |   |   |   | (278,885 | ) |   |   |   | (9,256 | ) |   |   | - |   |   |   | 9,256 |   |   |   |   | - |   |
|                                                                                                                                                                     |   |                                |      |   |                              |   |      |                       |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Property,                plant and equipment, at cost:                                                                                                                   |   |                                |      |   |                              |   |      |                       |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Land                                                                                                                                                                     |   |                                | -         |   |                              |   | 39,868    |                       |                                  |   | 163,049 |   |   |   | - |   |   |   |   | 202,917 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 202,917 |   |   |   | - |   |   |   | - |   |   |   |   | 202,917 |   |
| Buildings                and improvements                                                                                                                                |   |                                | -         |   |                              |   | 103,542   |                       |                                  |   | 698,747 |   |   |   | - |   |   |   |   | 802,289 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 802,289 |   |   |   | - |   |   |   | - |   |   |   |   | 802,289 |   |
| Furniture                and equipment                                                                                                                                   |   |                                | 4,588     |   |                              |   | 279,219   |                       |                                  |   | 17,944 |   |   |   | - |   |   |   |   | 301,751 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 301,751 |   |   |   | - |   |   |   | - |   |   |   |   | 301,751 |   |
| Rental                trailers and other rental equipment                                                                                                                |   |                                | -         |   |                              |   | 200,208   |                       |                                  |   | - |   |   |   | - |   |   |   |   | 200,208 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 200,208 |   |   |   | - |   |   |   | - |   |   |   |   | 200,208 |   |
| Rental                trucks                                                                                                                                             |   |                                | -         |   |                              |   | 1,604,123 |                       |                                  |   | - |   |   |   | - |   |   |   |   | 1,604,123 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 1,604,123 |   |   |   | - |   |   |   | - |   |   |   |   | 1,604,123 |   |
| SAC                Holding II - property, plant and equipment (b)                                                                                                        |   |                                | -         |   |                              |   | -         |                       |                                  |   | - |   |   |   | - |   |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | - |   |   |   | 154,561 |   |   |   | (74,212 | ) | (e) |   |   | 80,349 |   |
|                                                                                                                                                                     |   |                                | 4,588     |   |                              |   | 2,226,960 |                       |                                  |   | 879,740 |   |   |   | - |   |   |   |   | 3,111,288 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 3,111,288 |   |   |   | 154,561 |   |   |   | (74,212 | ) |   |   |   | 3,191,637 |   |
| Less:  Accumulated                depreciation                                                                                                                 |   |                                | (627      | )      |                              |   | (995,028  | )                          |                                  |   | (296,563 | ) |   |   | - |   |   |   |   | (1,292,218 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | (1,292,218 | ) |   |   | (12,573 | ) |   |   | 10,225 |   | (e) |   |   | (1,294,566 | ) |
| Total                property, plant and equipment                                                                                                                       |   |                                | 3,961     |   |                              |   | 1,231,932 |                       |                                  |   | 583,177 |   |   |   | - |   |   |   |   | 1,819,070 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 1,819,070 |   |   |   | 141,988 |   |   |   | (63,987 | ) |   |   |   | 1,897,071 |   |
| Total                assets                                                                                                                                              |   | $                                   | 950,968   |   |                              | $      | 1,729,904 |                       |                                  | $      | 639,645 |   |   | $ | (598,634 | ) |   |   | $ | 2,721,883 |   |   | $ | 402,505 |   |   | $ | 685,415 |   |   | $ | (299,725 | ) |   |   | $ | 3,510,078 |   |   | $ | 148,137 |   |   | $ | (135,167 | ) |   |   | $ | 3,523,048 |   |
|                                                                                                                                                                     |   |                                |      |   |                              |   |      |                       |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (a)  Balances                as of December 31, 2006                                                                                                           |   |                                |      |   |                              |   |      |                       |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (b)                Included in this caption is land of $57,169, buildings and improvements                of                $96,879, and furniture and equipment of $513 |   |                                |      |   |                              |   |      |                       |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (c)                Eliminate investment in subsidiaries and SAC Holding                II                                                                                |   |                                |      |   |                              |   |      |                       |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (d)                Eliminate intercompany receivables and payables                                                                                                       |   |                                |      |   |                              |   |      |                       |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (e)                Eliminate gain on sale of property from U-Haul to SAC Holding                II                                                                       |   |                                |      |   |                              |   |      |                       |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

|                                                                                                     |   | Moving                & Storage |     |   | AMERCO                Legal Group |   |      |                       | AMERCO                as Consolidated |   |
|----------------------------------------------------------------------------------------------------------|--------|-------------------------------------|----------|--------|-----------------------------------|--------|-----------|----------------------------|---------------------------------------|--------|
|                                                                                                     |   | AMERCO                              |     |   | U-Haul                            |   |      | Real                Estate |                                  |   | Eliminations |   |   |   | Moving                & StorageConsolidated |   |   | Property                & Casualty Insurance (a) |   |   | LifeInsurance                (a) |   |   | Eliminations |   |   |   | AMERCOConsolidated |   |   | SAC                Holding II |   |   | Eliminations |   |   |   |   |   | Total                Consolidated |   |
|                                                                                                     |   |                                |     |
|                                                                                                     |   | (In                thousands)       |     |
| Liabilities:                                                                                             |   |                                |     |   |                              |   |      |                       |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Accounts                payable and accrued expenses                                                     |   | $                                   | 926      |   |                              | $      | 236,830   |                       |                                  | $      | 4,973 |   |   | $ | - |   |   |   | $ | 242,729 |   |   | $ | - |   |   | $ | 7,083 |   |   | $ | - |   |   |   | $ | 249,812 |   |   | $ | 1,385 |   |   | $ | - |   |   |   |   |   | $ | 251,197 |   |
| AMERCO's                notes and loans payable                                                          |   |                                | -        |   |                              |   | 406,458   |                       |                                  |   | 774,707 |   |   |   | - |   |   |   |   | 1,181,165 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 1,181,165 |   |   |   | - |   |   |   | - |   |   |   |   |   |   | 1,181,165 |   |
| SAC                Holding II notes and loans                  payable, non-recourse to AMERCO |   |                                | -        |   |                              |   | -         |                       |                                  |   | - |   |   |   | - |   |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | - |   |   |   | 74,887 |   |   |   | - |   |   |   |   |   |   | 74,887 |   |
| Policy                benefits and losses,                 claims and loss expenses payable         |   |                                | -        |   |                              |   | 330,602   |                       |                                  |   | - |   |   |   | - |   |   |   |   | 330,602 |   |   |   | 291,241 |   |   |   | 146,908 |   |   |   | - |   |   |   |   | 768,751 |   |   |   | - |   |   |   | - |   |   |   |   |   |   | 768,751 |   |
| Liabilities                from investment contracts                                                     |   |                                | -        |   |                              |   | -         |                       |                                  |   | - |   |   |   | - |   |   |   |   | - |   |   |   | - |   |   |   | 386,640 |   |   |   | - |   |   |   |   | 386,640 |   |   |   | - |   |   |   | - |   |   |   |   |   |   | 386,640 |   |
| Other                policyholders' funds and liabilities                                                |   |                                | -        |   |                              |   | -         |                       |                                  |   | - |   |   |   | - |   |   |   |   | - |   |   |   | 7,633 |   |   |   | 2,930 |   |   |   | - |   |   |   |   | 10,563 |   |   |   | - |   |   |   | - |   |   |   |   |   |   | 10,563 |   |
| Deferred                income                                                                           |   |                                | -        |   |                              |   | 15,629    |                       |                                  |   | - |   |   |   | - |   |   |   |   | 15,629 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 15,629 |   |   |   | 849 |   |   |   | - |   |   |   |   |   |   | 16,478 |   |
| Deferred                income taxes                                                                     |   |                                | 186,594  |   |                              |   | -         |                       |                                  |   | - |   |   |   | - |   |   |   |   | 186,594 |   |   |   | (41,223 | ) |   |   | (3,167 | ) |   |   | - |   |   |   |   | 142,204 |   |   |   | (2,263 | ) |   |   | (26,771 | ) |   | (d) |   |   |   | 113,170 |   |
| Related                party liabilities                                                                 |   |                                | -        |   |                              |   | 1,077,090 |                       |                                  |   | 46,139 |   |   |   | (1,113,379 | ) | (c) |   |   | 9,850 |   |   |   | 2,411 |   |   |   | 8,579 |   |   |   | (20,840 | ) | (c) |   |   | - |   |   |   | 82,535 |   |   |   | (80,436 | ) |   | (c) |   |   |   | 2,099 |   |
| Total                liabilities                                                                         |   |                                | 187,520  |   |                              |   | 2,066,609 |                       |                                  |   | 825,819 |   |   |   | (1,113,379 | ) |   |   |   | 1,966,569 |   |   |   | 260,062 |   |   |   | 548,973 |   |   |   | (20,840 | ) |   |   |   | 2,754,764 |   |   |   | 157,393 |   |   |   | (107,207 | ) |   |   |   |   |   | 2,804,950 |   |
|                                                                                                     |   |                                |     |   |                              |   |      |                       |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Stockholders'                equity:                                                                     |   |                                |     |   |                              |   |      |                       |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Series                preferred stock:                                                                   |   |                                |     |   |                              |   |      |                       |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Series                A preferred stock                                                                  |   |                                | -        |   |                              |   | -         |                       |                                  |   | - |   |   |   | - |   |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   | - |   |
| Series                B preferred stock                                                                  |   |                                | -        |   |                              |   | -         |                       |                                  |   | - |   |   |   | - |   |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   | - |   |
| Series                A common stock                                                                     |   |                                | -        |   |                              |   | -         |                       |                                  |   | - |   |   |   | - |   |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   | - |   |
| Common                stock                                                                              |   |                                | 10,497   |   |                              |   | 540       |                       |                                  |   | 1 |   |   |   | (541 | ) | (b) |   |   | 10,497 |   |   |   | 3,300 |   |   |   | 2,500 |   |   |   | (5,800 | ) | (b) |   |   | 10,497 |   |   |   | - |   |   |   | - |   |   |   |   |   |   | 10,497 |   |
| Additional                paid-in capital                                                                |   |                                | 421,483  |   |                              |   | 121,230   |                       |                                  |   | 147,481 |   |   |   | (268,711 | ) | (b) |   |   | 421,483 |   |   |   | 86,121 |   |   |   | 26,271 |   |   |   | (112,392 | ) | (b) |   |   | 421,483 |   |   |   | - |   |   |   | (46,071 | ) |   | (d) |   |   |   | 375,412 |   |
| Additional                paid-in capital - SAC Holding II                                               |   |                                | -        |   |                              |   | -         |                       |                                  |   | - |   |   |   | - |   |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | - |   |   |   | 4,492 |   |   |   | (4,492 | ) |   | (b) |   |   |   | - |   |
| Accumulated                other comprehensive income (loss)                                             |   |                                | (41,779  | )      |                              |   | (41,454   | )                          |                                  |   | - |   |   |   | 41,454 |   | (b) |   |   | (41,779 | ) |   |   | (163 | ) |   |   | (192 | ) |   |   | 355 |   | (b) |   |   | (41,779 | ) |   |   | - |   |   |   | - |   |   |   |   |   |   | (41,779 | ) |
| Retained                earnings (deficit)                                                               |   |                                | 840,445  |   |                              |   | (408,887  | )                          |                                  |   | (333,656 | ) |   |   | 742,543 |   | (b) |   |   | 840,445 |   |   |   | 53,185 |   |   |   | 107,863 |   |   |   | (161,048 | ) | (b) |   |   | 840,445 |   |   |   | (13,748 | ) |   |   | 22,603 |   |   |   | (b,d | ) |   |   | 849,300 |   |
| Cost                of common shares in treasury, net                                                    |   |                                | (467,198 | )      |                              |   | -         |                       |                                  |   | - |   |   |   | - |   |   |   |   | (467,198 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | (467,198 | ) |   |   | - |   |   |   | - |   |   |   |   |   |   |   | (467,198 | ) |
| Unearned                employee stock  ownership plan shares                                  |   |                                | -        |   |                              |   | (8,134    | )                          |                                  |   | - |   |   |   | - |   |   |   |   | (8,134 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | (8,134 | ) |   |   | - |   |   |   | - |   |   |   |   |   |   |   | (8,134 | ) |
| Total                stockholders' equity (deficit)                                                      |   |                                | 763,448  |   |                              |   | (336,705  | )                          |                                  |   | (186,174 | ) |   |   | 514,745 |   |   |   |   | 755,314 |   |   |   | 142,443 |   |   |   | 136,442 |   |   |   | (278,885 | ) |   |   |   | 755,314 |   |   |   | (9,256 | ) |   |   | (27,960 | ) |   |   |   |   |   |   | 718,098 |   |
| Total                liabilities and stockholders' equity                                                |   | $                                   | 950,968  |   |                              | $      | 1,729,904 |                       |                                  | $      | 639,645 |   |   | $ | (598,634 | ) |   |   | $ | 2,721,883 |   |   | $ | 402,505 |   |   | $ | 685,415 |   |   | $ | (299,725 | ) |   |   | $ | 3,510,078 |   |   | $ | 148,137 |   |   | $ | (135,167 | ) |   |   |   |   |   | $ | 3,523,048 |   |
|                                                                                                     |   |                                |     |   |                              |   |      |                       |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (a)  Balances                as of December 31, 2006                                           |   |                                |     |   |                              |   |      |                       |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (b)                Eliminate investment in subsidiaries and SAC Holding                II                |   |                                |     |   |                              |   |      |                       |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (c)                Eliminate intercompany receivables and payables                                       |   |                                |     |   |                              |   |      |                       |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (d)                Eliminate gain on sale of property from U-Haul to SAC Holding                II       |   |                                |     |   |                              |   |      |                       |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

|                                                                                                                                   |   | Moving                & Storage |    |   | AMERCO                Legal Group |   |    |                       |   |   | AMERCO                as Consolidated |   |
|----------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------------|---------|--------|-----------------------------------|--------|---------|----------------------------|--------|--------|---------------------------------------|--------|
|                                                                                                                                   |   | AMERCO                              |    |   | U-Haul                            |   |    | Real                Estate |   |   | Eliminations                          |   |   |   | Moving                & StorageConsolidated |   |   | Property                & Casualty Insurance (a) |   |   | LifeInsurance                (a) |   |   | Eliminations |   |   |   |   |   | AMERCOConsolidated |   |   | SAC                Holding II (h) |   |   | Eliminations |   |   |   | Total                Consolidated |   |
|                                                                                                                                   |   | (Unaudited)                         |    |
|                                                                                                                                   |   | (In                thousands)       |    |
| Revenues:                                                                                                                              |   |                                |    |   |                              |   |    |                       |   |   |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Self-moving                equipment rentals                                                                                           |   | $                                   | -       |   |                              | $      | 329,905 |                       |   | $      | -                                     |   |   | $ | - |   |   |   | $ | 329,905 |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   |   |   |   | $ | 329,905 |   |   | $ | 689 |   |   | $ | (689 | ) | (b) |   | $ | 329,905 |   |
| Self-storage                revenues                                                                                                   |   |                                | -       |   |                              |   | 27,435  |                       |   |   | 523                                   |   |   |   | - |   |   |   |   | 27,958 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   | 27,958 |   |   |   | 1,672 |   |   |   | - |   |   |   |   | 29,630 |   |
| Self-moving                & self-storage products & service sales                                                             |   |                                | -       |   |                              |   | 42,134  |                       |   |   | -                                     |   |   |   | - |   |   |   |   | 42,134 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   | 42,134 |   |   |   | 1,077 |   |   |   | - |   |   |   |   | 43,211 |   |
| Property                management fees                                                                                                |   |                                | -       |   |                              |   | 7,137   |                       |   |   | -                                     |   |   |   | - |   |   |   |   | 7,137 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   | 7,137 |   |   |   | - |   |   |   | (212 | ) | (g) |   |   | 6,925 |   |
| Life                insurance premiums                                                                                                 |   |                                | -       |   |                              |   | -       |                       |   |   | -                                     |   |   |   | - |   |   |   |   | - |   |   |   | - |   |   |   | 27,757 |   |   |   | - |   |   |   |   |   |   | 27,757 |   |   |   | - |   |   |   | - |   |   |   |   | 27,757 |   |
| Property                and casualty insurance premiums                                                                                |   |                                | -       |   |                              |   | -       |                       |   |   | -                                     |   |   |   | - |   |   |   |   | - |   |   |   | 7,738 |   |   |   | - |   |   |   | - |   |   |   |   |   |   | 7,738 |   |   |   | - |   |   |   | - |   |   |   |   | 7,738 |   |
| Net                investment and interest income                                                                                      |   |                                | 1,076   |   |                              |   | 7,953   |                       |   |   | -                                     |   |   |   | - |   |   |   |   | 9,029 |   |   |   | 3,154 |   |   |   | 4,798 |   |   |   | (353 | ) |   |   | (b,d | ) |   |   | 16,628 |   |   |   | - |   |   |   | (584 | ) | (d) |   |   | 16,044 |   |
| Other                revenue                                                                                                           |   |                                | -       |   |                              |   | 7,373   |                       |   |   | 17,663                                |   |   |   | (18,788 | ) | (b) |   |   | 6,248 |   |   |   | - |   |   |   | 1,288 |   |   |   | (132 | ) |   | (b) |   |   |   | 7,404 |   |   |   | 113 |   |   |   | (59 | ) | (b) |   |   | 7,458 |   |
| Total                revenues                                                                                                          |   |                                | 1,076   |   |                              |   | 421,937 |                       |   |   | 18,186                                |   |   |   | (18,788 | ) |   |   |   | 422,411 |   |   |   | 10,892 |   |   |   | 33,843 |   |   |   | (485 | ) |   |   |   |   |   |   | 466,661 |   |   |   | 3,551 |   |   |   | (1,544 | ) |   |   |   | 468,668 |   |
|                                                                                                                                   |   |                                |    |   |                              |   |    |                       |   |   |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Costs                and expenses:                                                                                                     |   |                                |    |   |                              |   |    |                       |   |   |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Operating                expenses                                                                                                      |   |                                | 2,055   |   |                              |   | 272,928 |                       |   |   | 1,978                                 |   |   |   | (18,788 | ) | (b) |   |   | 258,173 |   |   |   | 4,203 |   |   |   | 6,694 |   |   |   | (1,716 | ) |   |   | (b,c,d | ) |   |   | 267,354 |   |   |   | 1,957 |   |   |   | (212 | ) | (g) |   |   | 269,099 |   |
| Commission                expenses                                                                                                     |   |                                | -       |   |                              |   | 42,220  |                       |   |   | -                                     |   |   |   | - |   |   |   |   | 42,220 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   |   | 42,220 |   |   |   | - |   |   |   | (689 | ) | (b) |   |   | 41,531 |   |
| Cost                of sales                                                                                                           |   |                                | -       |   |                              |   | 26,165  |                       |   |   | -                                     |   |   |   | - |   |   |   |   | 26,165 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   |   | 26,165 |   |   |   | 512 |   |   |   | - |   |   |   |   | 26,677 |   |
| Benefits                and losses                                                                                                     |   |                                | -       |   |                              |   | -       |                       |   |   | -                                     |   |   |   | - |   |   |   |   | - |   |   |   | 4,419 |   |   |   | 19,419 |   |   |   | 1,452 |   |   | (c) |   |   |   | 25,290 |   |   |   | - |   |   |   | - |   |   |   |   | 25,290 |   |
| Amortization                of deferred policy acquisition costs                                                                       |   |                                | -       |   |                              |   | -       |                       |   |   | -                                     |   |   |   | - |   |   |   |   | - |   |   |   | 4 |   |   |   | 2,683 |   |   |   | - |   |   |   |   |   |   |   | 2,687 |   |   |   | - |   |   |   | - |   |   |   |   | 2,687 |   |
| Lease                expense                                                                                                           |   |                                | 24      |   |                              |   | 34,264  |                       |   |   | 2                                     |   |   |   | - |   |   |   |   | 34,290 |   |   |   | - |   |   |   | - |   |   |   | (221 | ) |   | (b) |   |   |   | 34,069 |   |   |   | - |   |   |   | (59 | ) | (b) |   |   | 34,010 |   |
| Depreciation,                net of (gains) losses on disposals                                                                        |   |                                | 187     |   |                              |   | 57,737  |                       |   |   | 2,907                                 |   |   |   | - |   |   |   |   | 60,831 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   |   | 60,831 |   |   |   | 231 |   |   |   | (47 | ) | (e) |   |   | 61,015 |   |
| Total                costs and expenses                                                                                                |   |                                | 2,266   |   |                              |   | 433,314 |                       |   |   | 4,887                                 |   |   |   | (18,788 | ) |   |   |   | 421,679 |   |   |   | 8,626 |   |   |   | 28,796 |   |   |   | (485 | ) |   |   |   |   |   |   | 458,616 |   |   |   | 2,700 |   |   |   | (1,007 | ) |   |   |   | 460,309 |   |
|                                                                                                                                   |   |                                |    |   |                              |   |    |                       |   |   |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Equity                in earnings of subsidiaries                                                                                      |   |                                | (23,675 | )      |                              |   | -       |                       |   |   | -                                     |   |   |   | 28,511 |   | (f) |   |   | 4,836 |   |   |   | - |   |   |   | - |   |   |   | (4,836 | ) |   | (f) |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | - |   |
| Equity                in earnings of SAC Holding II                                                                                    |   |                                | (133    | )      |                              |   | -       |                       |   |   | -                                     |   |   |   | - |   |   |   |   | (133 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   |   | (133 | ) |   |   | - |   |   |   | 133 |   | (f) |   |   | - |   |
| Total                - equity in earnings of subsidiaries and SAC Holding                II                                            |   |                                | (23,808 | )      |                              |   | -       |                       |   |   | -                                     |   |   |   | 28,511 |   |   |   |   | 4,703 |   |   |   | - |   |   |   | - |   |   |   | (4,836 | ) |   |   |   |   |   |   | (133 | ) |   |   | - |   |   |   | 133 |   |   |   |   | - |   |
| Earnings                (loss) from operations                                                                                         |   |                                | (24,998 | )      |                              |   | (11,377 | )                          |   |   | 13,299                                |   |   |   | 28,511 |   |   |   |   | 5,435 |   |   |   | 2,266 |   |   |   | 5,047 |   |   |   | (4,836 | ) |   |   |   |   |   |   | 7,912 |   |   |   | 851 |   |   |   | (404 | ) |   |   |   | 8,359 |   |
| Interest                income (expense)                                                                                               |   |                                | 22,780  |   |                              |   | (34,328 | )                          |   |   | (13,193                               | )      |   |   | - |   |   |   |   | (24,741 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   |   | (24,741 | ) |   |   | (1,070 | ) |   |   | 584 |   | (d) |   |   | (25,227 | ) |
| Pretax                earnings (loss)                                                                                                  |   |                                | (2,218  | )      |                              |   | (45,705 | )                          |   |   | 106                                   |   |   |   | 28,511 |   |   |   |   | (19,306 | ) |   |   | 2,266 |   |   |   | 5,047 |   |   |   | (4,836 | ) |   |   |   |   |   |   | (16,829 | ) |   |   | (219 | ) |   |   | 180 |   |   |   |   | (16,868 | ) |
| Income                tax benefit (expense)                                                                                            |   |                                | (8,205  | )      |                              |   | 17,441  |                       |   |   | (353                                  | )      |   |   | - |   |   |   |   | 8,883 |   |   |   | (792 | ) |   |   | (1,685 | ) |   |   | - |   |   |   |   |   |   |   | 6,406 |   |   |   | 86 |   |   |   | (18 | ) | (e) |   |   | 6,474 |   |
| Net                earnings (loss)                                                                                                     |   |                                | (10,423 | )      |                              |   | (28,264 | )                          |   |   | (247                                  | )      |   |   | 28,511 |   |   |   |   | (10,423 | ) |   |   | 1,474 |   |   |   | 3,362 |   |   |   | (4,836 | ) |   |   |   |   |   |   | (10,423 | ) |   |   | (133 | ) |   |   | 162 |   |   |   |   | (10,394 | ) |
| Less:  Preferred                stock dividends                                                                              |   |                                | (3,241  | )      |                              |   | -       |                       |   |   | -                                     |   |   |   | - |   |   |   |   | (3,241 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   |   | (3,241 | ) |   |   | - |   |   |   | - |   |   |   |   | (3,241 | ) |
| Earnings                (loss) available to common shareholders                                                                        |   | $                                   | (13,664 | )      |                              | $      | (28,264 | )                          |   | $      | (247                                  | )      |   | $ | 28,511 |   |   |   | $ | (13,664 | ) |   | $ | 1,474 |   |   | $ | 3,362 |   |   | $ | (4,836 | ) |   |   |   |   |   | $ | (13,664 | ) |   | $ | (133 | ) |   | $ | 162 |   |   |   | $ | (13,635 | ) |
| (a) Balances                for the quarter ended September 30, 2007                                                              |   |                                |    |   |                              |   |    |                       |   |   |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (b)                Eliminate intercompany lease income and commission                income                                            |   |                                |    |   |                              |   |    |                       |   |   |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (c                )                Eliminate intercompany premiums                                                                     |   |                                |    |   |                              |   |    |                       |   |   |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (d)                Eliminate intercompany interest on debt                                                                             |   |                                |    |   |                              |   |    |                       |   |   |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (e)                Eliminate gain on sale of surplus property from U-Haul to SAC Holding                II                             |   |                                |    |   |                              |   |    |                       |   |   |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (f)                Eliminate equity in earnings of subsidiaries and equity in earnings                of SAC                Holding II |   |                                |    |   |                              |   |    |                       |   |   |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (g)                Eliminate management fees charged to SAC Holding II and other intercompany                operating expenses        |   |                                |    |   |                              |   |    |                       |   |   |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (h)                Activity for the month of October 2007, prior to                deconsolidation                                     |   |                                |    |   |                              |   |    |                       |   |   |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

|                                                                                                                                   |   | Moving                & Storage |    |   | AMERCO                Legal Group |   |    |                       |   |   | AMERCO                as Consolidated |   |
|----------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------------|---------|--------|-----------------------------------|--------|---------|----------------------------|--------|--------|---------------------------------------|--------|
|                                                                                                                                   |   | AMERCO                              |    |   | U-Haul                            |   |    | Real                Estate |   |   | Eliminations                          |   |   |   | Moving                & StorageConsolidated |   |   | Property                & Casualty Insurance (a) |   |   | LifeInsurance                (a) |   |   | Eliminations |   |   |   |   |   | AMERCOConsolidated |   |   | SAC                Holding II |   |   | Eliminations |   |   |   | Total                Consolidated |   |
|                                                                                                                                   |   | (Unaudited)                         |    |
|                                                                                                                                   |   | (In                thousands)       |    |
| Revenues:                                                                                                                              |   |                                |    |   |                              |   |    |                       |   |   |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Self-moving                equipment rentals                                                                                           |   | $                                   | -       |   |                              | $      | 328,149 |                       |   | $      | -                                     |   |   | $ | - |   |   |   | $ | 328,149 |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   |   |   |   | $ | 328,149 |   |   | $ | 2,018 |   |   | $ | (2,018 | ) | (b) |   | $ | 328,149 |   |
| Self-storage                revenues                                                                                                   |   |                                | -       |   |                              |   | 26,251  |                       |   |   | 455                                   |   |   |   | - |   |   |   |   | 26,706 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   | 26,706 |   |   |   | 5,059 |   |   |   | - |   |   |   |   | 31,765 |   |
| Self-moving                & self-storage products & service sales                                                             |   |                                | -       |   |                              |   | 42,992  |                       |   |   | -                                     |   |   |   | - |   |   |   |   | 42,992 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   | 42,992 |   |   |   | 3,359 |   |   |   | - |   |   |   |   | 46,351 |   |
| Property                management fees                                                                                                |   |                                | -       |   |                              |   | 6,559   |                       |   |   | -                                     |   |   |   | - |   |   |   |   | 6,559 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   | 6,559 |   |   |   | - |   |   |   | (645 | ) | (g) |   |   | 5,914 |   |
| Life                insurance premiums                                                                                                 |   |                                | -       |   |                              |   | -       |                       |   |   | -                                     |   |   |   | - |   |   |   |   | - |   |   |   | - |   |   |   | 29,847 |   |   |   | (393 | ) |   | (c) |   |   |   | 29,454 |   |   |   | - |   |   |   | - |   |   |   |   | 29,454 |   |
| Property                and casualty insurance premiums                                                                                |   |                                | -       |   |                              |   | -       |                       |   |   | -                                     |   |   |   | - |   |   |   |   | - |   |   |   | 6,555 |   |   |   | - |   |   |   | - |   |   |   |   |   |   | 6,555 |   |   |   | - |   |   |   | - |   |   |   |   | 6,555 |   |
| Net                investment and interest income                                                                                      |   |                                | 1,232   |   |                              |   | 8,294   |                       |   |   | (36                                   | )      |   |   | - |   |   |   |   | 9,490 |   |   |   | 5,112 |   |   |   | 5,021 |   |   |   | (5,074 | ) |   |   | (b,d | ) |   |   | 14,549 |   |   |   | - |   |   |   | (1,750 | ) | (d) |   |   | 12,799 |   |
| Other                revenue                                                                                                           |   |                                | (1      | )      |                              |   | 5,945   |                       |   |   | 16,943                                |   |   |   | (18,290 | ) | (b) |   |   | 4,597 |   |   |   | - |   |   |   | 967 |   |   |   | (130 | ) |   | (b) |   |   |   | 5,434 |   |   |   | 374 |   |   |   | (177 | ) | (b) |   |   | 5,631 |   |
| Total                revenues                                                                                                          |   |                                | 1,231   |   |                              |   | 418,190 |                       |   |   | 17,362                                |   |   |   | (18,290 | ) |   |   |   | 418,493 |   |   |   | 11,667 |   |   |   | 35,835 |   |   |   | (5,597 | ) |   |   |   |   |   |   | 460,398 |   |   |   | 10,810 |   |   |   | (4,590 | ) |   |   |   | 466,618 |   |
|                                                                                                                                   |   |                                |    |   |                              |   |    |                       |   |   |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Costs                and expenses:                                                                                                     |   |                                |    |   |                              |   |    |                       |   |   |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Operating                expenses                                                                                                      |   |                                | 2,339   |   |                              |   | 277,433 |                       |   |   | 2,231                                 |   |   |   | (18,290 | ) | (b) |   |   | 263,713 |   |   |   | 2,261 |   |   |   | 6,404 |   |   |   | (5,450 | ) |   |   | (b,c,d | ) |   |   | 266,928 |   |   |   | 5,608 |   |   |   | (645 | ) | (g) |   |   | 271,891 |   |
| Commission                expenses                                                                                                     |   |                                | -       |   |                              |   | 41,334  |                       |   |   | -                                     |   |   |   | - |   |   |   |   | 41,334 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   |   | 41,334 |   |   |   | - |   |   |   | (2,018 | ) | (b) |   |   | 39,316 |   |
| Cost                of sales                                                                                                           |   |                                | -       |   |                              |   | 23,447  |                       |   |   | -                                     |   |   |   | - |   |   |   |   | 23,447 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   |   | 23,447 |   |   |   | 1,523 |   |   |   | - |   |   |   |   | 24,970 |   |
| Benefits                and losses                                                                                                     |   |                                | -       |   |                              |   | -       |                       |   |   | -                                     |   |   |   | - |   |   |   |   | - |   |   |   | 8,226 |   |   |   | 21,320 |   |   |   | 1,915 |   |   | (c) |   |   |   | 31,461 |   |   |   | - |   |   |   | - |   |   |   |   | 31,461 |   |
| Amortization                of deferred policy acquisition costs                                                                       |   |                                | -       |   |                              |   | -       |                       |   |   | -                                     |   |   |   | - |   |   |   |   | - |   |   |   | 442 |   |   |   | 3,778 |   |   |   | - |   |   |   |   |   |   |   | 4,220 |   |   |   | - |   |   |   | - |   |   |   |   | 4,220 |   |
| Lease                expense                                                                                                           |   |                                | 22      |   |                              |   | 36,839  |                       |   |   | 17                                    |   |   |   | - |   |   |   |   | 36,878 |   |   |   | - |   |   |   | - |   |   |   | (220 | ) |   | (b) |   |   |   | 36,658 |   |   |   | - |   |   |   | (177 | ) | (b) |   |   | 36,481 |   |
| Depreciation,                net of (gains) losses on disposals                                                                        |   |                                | 61      |   |                              |   | 46,691  |                       |   |   | 2,737                                 |   |   |   | - |   |   |   |   | 49,489 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   |   | 49,489 |   |   |   | 668 |   |   |   | (140 | ) | (e) |   |   | 50,017 |   |
| Total                costs and expenses                                                                                                |   |                                | 2,422   |   |                              |   | 425,744 |                       |   |   | 4,985                                 |   |   |   | (18,290 | ) |   |   |   | 414,861 |   |   |   | 10,929 |   |   |   | 31,502 |   |   |   | (3,755 | ) |   |   |   |   |   |   | 453,537 |   |   |   | 7,799 |   |   |   | (2,980 | ) |   |   |   | 458,356 |   |
| Equity                in earnings of subsidiaries                                                                                      |   |                                | (22,367 | )      |                              |   | -       |                       |   |   | -                                     |   |   |   | 23,806 |   | (f) |   |   | 1,439 |   |   |   | - |   |   |   | - |   |   |   | (1,439 | ) |   | (f) |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | - |   |
| Equity                in earnings of SAC Holding II                                                                                    |   |                                | (160    | )      |                              |   | -       |                       |   |   | -                                     |   |   |   | - |   |   |   |   | (160 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   |   | (160 | ) |   |   | - |   |   |   | 160 |   | (f) |   |   | - |   |
| Total                - equity in earnings of subsidiaries and SAC Holding                II                                            |   |                                | (22,527 | )      |                              |   | -       |                       |   |   | -                                     |   |   |   | 23,806 |   |   |   |   | 1,279 |   |   |   | - |   |   |   | - |   |   |   | (1,439 | ) |   |   |   |   |   |   | (160 | ) |   |   | - |   |   |   | 160 |   |   |   |   | - |   |
| Earnings                (loss) from operations                                                                                         |   |                                | (23,718 | )      |                              |   | (7,554  | )                          |   |   | 12,377                                |   |   |   | 23,806 |   |   |   |   | 4,911 |   |   |   | 738 |   |   |   | 4,333 |   |   |   | (3,281 | ) |   |   |   |   |   |   | 6,701 |   |   |   | 3,011 |   |   |   | (1,450 | ) |   |   |   | 8,262 |   |
| Interest                income (expense)                                                                                               |   |                                | 22,906  |   |                              |   | (30,783 | )                          |   |   | (12,739                               | )      |   |   | - |   |   |   |   | (20,616 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   |   | (20,616 | ) |   |   | (3,265 | ) |   |   | 1,750 |   | (d) |   |   | (22,131 | ) |
| Pretax                earnings (loss)                                                                                                  |   |                                | (812    | )      |                              |   | (38,337 | )                          |   |   | (362                                  | )      |   |   | 23,806 |   |   |   |   | (15,705 | ) |   |   | 738 |   |   |   | 4,333 |   |   |   | (3,281 | ) |   |   |   |   |   |   | (13,915 | ) |   |   | (254 | ) |   |   | 300 |   |   |   |   | (13,869 | ) |
| Income                tax benefit (expense)                                                                                            |   |                                | (8,755  | )      |                              |   | 14,933  |                       |   |   | (40                                   | )      |   |   | - |   |   |   |   | 6,138 |   |   |   | (258 | ) |   |   | (1,532 | ) |   |   | - |   |   |   |   |   |   |   | 4,348 |   |   |   | 94 |   |   |   | (53 | ) | (e) |   |   | 4,389 |   |
| Net                earnings (loss)                                                                                                     |   |                                | (9,567  | )      |                              |   | (23,404 | )                          |   |   | (402                                  | )      |   |   | 23,806 |   |   |   |   | (9,567 | ) |   |   | 480 |   |   |   | 2,801 |   |   |   | (3,281 | ) |   |   |   |   |   |   | (9,567 | ) |   |   | (160 | ) |   |   | 247 |   |   |   |   | (9,480 | ) |
| Less:  Preferred                stock dividends                                                                              |   |                                | (3,241  | )      |                              |   | -       |                       |   |   | -                                     |   |   |   | - |   |   |   |   | (3,241 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   |   | (3,241 | ) |   |   | - |   |   |   | - |   |   |   |   | (3,241 | ) |
| Earnings                (loss) available to common shareholders                                                                        |   | $                                   | (12,808 | )      |                              | $      | (23,404 | )                          |   | $      | (402                                  | )      |   | $ | 23,806 |   |   |   | $ | (12,808 | ) |   | $ | 480 |   |   | $ | 2,801 |   |   | $ | (3,281 | ) |   |   |   |   |   | $ | (12,808 | ) |   | $ | (160 | ) |   | $ | 247 |   |   |   | $ | (12,721 | ) |
| (a) Balances                for the quarter ended September 30, 2006                                                              |   |                                |    |   |                              |   |    |                       |   |   |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (b)                Eliminate intercompany lease income and commission                income                                            |   |                                |    |   |                              |   |    |                       |   |   |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (c                )                Eliminate intercompany premiums                                                                     |   |                                |    |   |                              |   |    |                       |   |   |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (d)                Eliminate intercompany interest on debt                                                                             |   |                                |    |   |                              |   |    |                       |   |   |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (e)                Eliminate gain on sale of surplus property from U-Haul to SAC Holding                II                             |   |                                |    |   |                              |   |    |                       |   |   |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (f)                Eliminate equity in earnings of subsidiaries and equity in earnings                of SAC                Holding II |   |                                |    |   |                              |   |    |                       |   |   |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (g)                Eliminate management fees charged to SAC Holding II and other intercompany                operating expenses        |   |                                |    |   |                              |   |    |                       |   |   |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

|                                                                                                                                   |   | Moving                & Storage |    |   | AMERCO                Legal Group |   |      |                       |   |   | AMERCO                as Consolidated |   |
|----------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------------|---------|--------|-----------------------------------|--------|-----------|----------------------------|--------|--------|---------------------------------------|--------|
|                                                                                                                                   |   | AMERCO                              |    |   | U-Haul                            |   |      | Real                Estate |   |   | Eliminations                          |   |   |   | Moving                & StorageConsolidated |   |   | Property                & Casualty Insurance (a) |   |   | LifeInsurance                (a) |   |   | Eliminations |   |   |   |   |   | AMERCOConsolidated |   |   | SAC                Holding II (h) |   |   | Eliminations |   |   |   | Total                Consolidated |   |
|                                                                                                                                   |   | (Unaudited)                         |    |
|                                                                                                                                   |   | (In                thousands)       |    |
| Revenues:                                                                                                                              |   |                                |    |   |                              |   |      |                       |   |   |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Self-moving                equipment rentals                                                                                           |   | $                                   | -       |   |                              | $      | 1,165,783 |                       |   | $      | -                                     |   |   | $ | - |   |   |   | $ | 1,165,783 |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   |   |   |   | $ | 1,165,783 |   |   | $ | 5,846 |   |   | $ | (5,846 | ) | (b) |   | $ | 1,165,783 |   |
| Self-storage                revenues                                                                                                   |   |                                | -       |   |                              |   | 81,924    |                       |   |   | 1,361                                 |   |   |   | - |   |   |   |   | 83,285 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   | 83,285 |   |   |   | 11,469 |   |   |   | - |   |   |   |   | 94,754 |   |
| Self-moving                & self-storage products & service sales                                                             |   |                                | -       |   |                              |   | 164,381   |                       |   |   | -                                     |   |   |   | - |   |   |   |   | 164,381 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   | 164,381 |   |   |   | 10,039 |   |   |   | - |   |   |   |   | 174,420 |   |
| Property                management fees                                                                                                |   |                                | -       |   |                              |   | 16,565    |                       |   |   | -                                     |   |   |   | - |   |   |   |   | 16,565 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   | 16,565 |   |   |   | - |   |   |   | (1,700 | ) | (g) |   |   | 14,865 |   |
| Life                insurance premiums                                                                                                 |   |                                | -       |   |                              |   | -         |                       |   |   | -                                     |   |   |   | - |   |   |   |   | - |   |   |   | - |   |   |   | 84,881 |   |   |   | - |   |   |   |   |   |   | 84,881 |   |   |   | - |   |   |   | - |   |   |   |   | 84,881 |   |
| Property                and casualty insurance premiums                                                                                |   |                                | -       |   |                              |   | -         |                       |   |   | -                                     |   |   |   | - |   |   |   |   | - |   |   |   | 20,986 |   |   |   | - |   |   |   | - |   |   |   |   |   |   | 20,986 |   |   |   | - |   |   |   | - |   |   |   |   | 20,986 |   |
| Net                investment and interest income                                                                                      |   |                                | 3,353   |   |                              |   | 23,524    |                       |   |   | -                                     |   |   |   | - |   |   |   |   | 26,877 |   |   |   | 9,315 |   |   |   | 15,946 |   |   |   | (1,256 | ) |   |   | (b,d | ) |   |   | 50,882 |   |   |   | - |   |   |   | (4,050 | ) | (d) |   |   | 46,832 |   |
| Other                revenue                                                                                                           |   |                                | -       |   |                              |   | 24,827    |                       |   |   | 52,390                                |   |   |   | (55,957 | ) | (b) |   |   | 21,260 |   |   |   | - |   |   |   | 3,659 |   |   |   | (391 | ) |   | (b) |   |   |   | 24,528 |   |   |   | 748 |   |   |   | (414 | ) | (b) |   |   | 24,862 |   |
| Total                revenues                                                                                                          |   |                                | 3,353   |   |                              |   | 1,477,004 |                       |   |   | 53,751                                |   |   |   | (55,957 | ) |   |   |   | 1,478,151 |   |   |   | 30,301 |   |   |   | 104,486 |   |   |   | (1,647 | ) |   |   |   |   |   |   | 1,611,291 |   |   |   | 28,102 |   |   |   | (12,010 | ) |   |   |   | 1,627,383 |   |
|                                                                                                                                   |   |                                |    |   |                              |   |      |                       |   |   |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Costs                and expenses:                                                                                                     |   |                                |    |   |                              |   |      |                       |   |   |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Operating                expenses                                                                                                      |   |                                | 7,924   |   |                              |   | 831,978   |                       |   |   | 7,126                                 |   |   |   | (55,957 | ) | (b) |   |   | 791,071 |   |   |   | 10,711 |   |   |   | 19,533 |   |   |   | (5,705 | ) |   |   | (b,c,d | ) |   |   | 815,610 |   |   |   | 13,510 |   |   |   | (1,700 | ) | (g) |   |   | 827,420 |   |
| Commission                expenses                                                                                                     |   |                                | -       |   |                              |   | 148,737   |                       |   |   | -                                     |   |   |   | - |   |   |   |   | 148,737 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   |   | 148,737 |   |   |   | - |   |   |   | (5,846 | ) | (b) |   |   | 142,891 |   |
| Cost                of sales                                                                                                           |   |                                | -       |   |                              |   | 90,076    |                       |   |   | -                                     |   |   |   | - |   |   |   |   | 90,076 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   |   | 90,076 |   |   |   | 5,192 |   |   |   | - |   |   |   |   | 95,268 |   |
| Benefits                and losses                                                                                                     |   |                                | -       |   |                              |   | -         |                       |   |   | -                                     |   |   |   | - |   |   |   |   | - |   |   |   | 11,103 |   |   |   | 64,337 |   |   |   | 4,719 |   |   | (c) |   |   |   | 80,159 |   |   |   | - |   |   |   | - |   |   |   |   | 80,159 |   |
| Amortization                of deferred policy acquisition costs                                                                       |   |                                | -       |   |                              |   | -         |                       |   |   | -                                     |   |   |   | - |   |   |   |   | - |   |   |   | 183 |   |   |   | 9,687 |   |   |   | - |   |   |   |   |   |   |   | 9,870 |   |   |   | - |   |   |   | - |   |   |   |   | 9,870 |   |
| Lease                expense                                                                                                           |   |                                | 72      |   |                              |   | 102,162   |                       |   |   | 46                                    |   |   |   | - |   |   |   |   | 102,280 |   |   |   | - |   |   |   | - |   |   |   | (661 | ) |   | (b) |   |   |   | 101,619 |   |   |   | - |   |   |   | (414 | ) | (b) |   |   | 101,205 |   |
| Depreciation,                net of (gains) losses on disposals                                                                        |   |                                | 509     |   |                              |   | 160,841   |                       |   |   | (1,471                                | )      |   |   | - |   |   |   |   | 159,879 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   |   | 159,879 |   |   |   | 1,474 |   |   |   | (327 | ) | (e) |   |   | 161,026 |   |
| Total                costs and expenses                                                                                                |   |                                | 8,505   |   |                              |   | 1,333,794 |                       |   |   | 5,701                                 |   |   |   | (55,957 | ) |   |   |   | 1,292,043 |   |   |   | 21,997 |   |   |   | 93,557 |   |   |   | (1,647 | ) |   |   |   |   |   |   | 1,405,950 |   |   |   | 20,176 |   |   |   | (8,287 | ) |   |   |   | 1,417,839 |   |
| Equity                in earnings of subsidiaries                                                                                      |   |                                | 43,482  |   |                              |   | -         |                       |   |   | -                                     |   |   |   | (30,906 | ) | (f) |   |   | 12,576 |   |   |   | - |   |   |   | - |   |   |   | (12,576 | ) |   | (f) |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | - |   |
| Equity                in earnings of SAC Holding II                                                                                    |   |                                | 222     |   |                              |   | -         |                       |   |   | -                                     |   |   |   | - |   |   |   |   | 222 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   |   | 222 |   |   |   | - |   |   |   | (222 | ) | (f) |   |   | - |   |
| Total                - equity in earnings of subsidiaries and SAC Holding                II                                            |   |                                | 43,704  |   |                              |   | -         |                       |   |   | -                                     |   |   |   | (30,906 | ) |   |   |   | 12,798 |   |   |   | - |   |   |   | - |   |   |   | (12,576 | ) |   |   |   |   |   |   | 222 |   |   |   | - |   |   |   | (222 | ) |   |   |   | - |   |
| Earnings                from operations                                                                                                |   |                                | 38,552  |   |                              |   | 143,210   |                       |   |   | 48,050                                |   |   |   | (30,906 | ) |   |   |   | 198,906 |   |   |   | 8,304 |   |   |   | 10,929 |   |   |   | (12,576 | ) |   |   |   |   |   |   | 205,563 |   |   |   | 7,926 |   |   |   | (3,945 | ) |   |   |   | 209,544 |   |
| Interest                income (expense)                                                                                               |   |                                | 66,321  |   |                              |   | (99,870   | )                          |   |   | (39,457                               | )      |   |   | - |   |   |   |   | (73,006 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   |   | (73,006 | ) |   |   | (7,537 | ) |   |   | 4,050 |   | (d) |   |   | (76,493 | ) |
| Pretax                earnings                                                                                                         |   |                                | 104,873 |   |                              |   | 43,340    |                       |   |   | 8,593                                 |   |   |   | (30,906 | ) |   |   |   | 125,900 |   |   |   | 8,304 |   |   |   | 10,929 |   |   |   | (12,576 | ) |   |   |   |   |   |   | 132,557 |   |   |   | 389 |   |   |   | 105 |   |   |   |   | 133,051 |   |
| Income                tax expense                                                                                                      |   |                                | (23,244 | )      |                              |   | (16,485   | )                          |   |   | (4,542                                | )      |   |   | - |   |   |   |   | (44,271 | ) |   |   | (2,906 | ) |   |   | (3,751 | ) |   |   | - |   |   |   |   |   |   |   | (50,928 | ) |   |   | (167 | ) |   |   | (124 | ) | (e) |   |   | (51,219 | ) |
| Net                earnings                                                                                                            |   |                                | 81,629  |   |                              |   | 26,855    |                       |   |   | 4,051                                 |   |   |   | (30,906 | ) |   |   |   | 81,629 |   |   |   | 5,398 |   |   |   | 7,178 |   |   |   | (12,576 | ) |   |   |   |   |   |   | 81,629 |   |   |   | 222 |   |   |   | (19 | ) |   |   |   | 81,832 |   |
| Less:  Preferred                stock dividends                                                                              |   |                                | (9,723  | )      |                              |   | -         |                       |   |   | -                                     |   |   |   | - |   |   |   |   | (9,723 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   |   | (9,723 | ) |   |   | - |   |   |   | - |   |   |   |   | (9,723 | ) |
| Earnings                available to common shareholders                                                                               |   | $                                   | 71,906  |   |                              | $      | 26,855    |                       |   | $      | 4,051                                 |   |   | $ | (30,906 | ) |   |   | $ | 71,906 |   |   | $ | 5,398 |   |   | $ | 7,178 |   |   | $ | (12,576 | ) |   |   |   |   |   | $ | 71,906 |   |   | $ | 222 |   |   | $ | (19 | ) |   |   | $ | 72,109 |   |
| (a) Balances                for the nine months ended September 30, 2007                                                          |   |                                |    |   |                              |   |      |                       |   |   |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (b)                Eliminate intercompany lease income and commission                income                                            |   |                                |    |   |                              |   |      |                       |   |   |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (c                )                Eliminate intercompany premiums                                                                     |   |                                |    |   |                              |   |      |                       |   |   |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (d)                Eliminate intercompany interest on debt                                                                             |   |                                |    |   |                              |   |      |                       |   |   |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (e)                Eliminate gain on sale of surplus property from U-Haul to SAC Holding                II                             |   |                                |    |   |                              |   |      |                       |   |   |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (f)                Eliminate equity in earnings of subsidiaries and equity in earnings                of SAC                Holding II |   |                                |    |   |                              |   |      |                       |   |   |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (g)                Eliminate management fees charged to SAC Holding II and other intercompany                operating expenses        |   |                                |    |   |                              |   |      |                       |   |   |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (h)                Activity for the seven months ended October 2007, prior to                deconsolidation                           |   |                                |    |   |                              |   |      |                       |   |   |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

|                                                                                                                                   |   | Moving                & Storage |    |   | AMERCO                Legal Group |   |      |                       |   |   | AMERCO                as Consolidated |   |
|----------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------------|---------|--------|-----------------------------------|--------|-----------|----------------------------|--------|--------|---------------------------------------|--------|
|                                                                                                                                   |   | AMERCO                              |    |   | U-Haul                            |   |      | Real                Estate |   |   | Eliminations                          |   |   |   | Moving                & StorageConsolidated |   |   | Property                & Casualty Insurance (a) |   |   | LifeInsurance                (a) |   |   | Eliminations |   |   |   |   |   | AMERCOConsolidated |   |   | SAC                Holding II |   |   | Eliminations |   |   |   | Total                Consolidated |   |
|                                                                                                                                   |   | (Unaudited)                         |    |
|                                                                                                                                   |   | (In                thousands)       |    |
| Revenues:                                                                                                                              |   |                                |    |   |                              |   |      |                       |   |   |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Self-moving                equipment rentals                                                                                           |   | $                                   | -       |   |                              | $      | 1,181,103 |                       |   | $      | -                                     |   |   | $ | - |   |   |   | $ | 1,181,103 |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   |   |   |   | $ | 1,181,103 |   |   | $ | 7,328 |   |   | $ | (7,328 | ) | (b) |   | $ | 1,181,103 |   |
| Self-storage                revenues                                                                                                   |   |                                | -       |   |                              |   | 78,400    |                       |   |   | 1,263                                 |   |   |   | - |   |   |   |   | 79,663 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   | 79,663 |   |   |   | 14,949 |   |   |   | - |   |   |   |   | 94,612 |   |
| Self-moving                & self-storage products & service sales                                                             |   |                                | -       |   |                              |   | 163,222   |                       |   |   | -                                     |   |   |   | - |   |   |   |   | 163,222 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   | 163,222 |   |   |   | 12,496 |   |   |   | - |   |   |   |   | 175,718 |   |
| Property                management fees                                                                                                |   |                                | -       |   |                              |   | 15,893    |                       |   |   | -                                     |   |   |   | - |   |   |   |   | 15,893 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   | 15,893 |   |   |   | - |   |   |   | (2,146 | ) | (g) |   |   | 13,747 |   |
| Life                insurance premiums                                                                                                 |   |                                | -       |   |                              |   | -         |                       |   |   | -                                     |   |   |   | - |   |   |   |   | - |   |   |   | - |   |   |   | 92,683 |   |   |   | (1,190 | ) |   | (c) |   |   |   | 91,493 |   |   |   | - |   |   |   | - |   |   |   |   | 91,493 |   |
| Property                and casualty insurance premiums                                                                                |   |                                | -       |   |                              |   | -         |                       |   |   | -                                     |   |   |   | - |   |   |   |   | - |   |   |   | 18,407 |   |   |   | - |   |   |   | - |   |   |   |   |   |   | 18,407 |   |   |   | - |   |   |   | - |   |   |   |   | 18,407 |   |
| Net                investment and interest income                                                                                      |   |                                | 3,694   |   |                              |   | 22,680    |                       |   |   | (36                                   | )      |   |   | - |   |   |   |   | 26,338 |   |   |   | 10,588 |   |   |   | 16,298 |   |   |   | (6,009 | ) |   |   | (b,d | ) |   |   | 47,215 |   |   |   | - |   |   |   | (5,315 | ) | (d) |   |   | 41,900 |   |
| Other                revenue                                                                                                           |   |                                | 203     |   |                              |   | 22,697    |                       |   |   | 50,706                                |   |   |   | (54,873 | ) | (b) |   |   | 18,733 |   |   |   | - |   |   |   | 3,722 |   |   |   | (411 | ) |   | (b) |   |   |   | 22,044 |   |   |   | 1,051 |   |   |   | (532 | ) | (b) |   |   | 22,563 |   |
| Total                revenues                                                                                                          |   |                                | 3,897   |   |                              |   | 1,483,995 |                       |   |   | 51,933                                |   |   |   | (54,873 | ) |   |   |   | 1,484,952 |   |   |   | 28,995 |   |   |   | 112,703 |   |   |   | (7,610 | ) |   |   |   |   |   |   | 1,619,040 |   |   |   | 35,824 |   |   |   | (15,321 | ) |   |   |   | 1,639,543 |   |
|                                                                                                                                   |   |                                |    |   |                              |   |      |                       |   |   |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Costs                and expenses:                                                                                                     |   |                                |    |   |                              |   |      |                       |   |   |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Operating                expenses                                                                                                      |   |                                | 9,672   |   |                              |   | 823,019   |                       |   |   | 6,949                                 |   |   |   | (54,873 | ) | (b) |   |   | 784,767 |   |   |   | 5,828 |   |   |   | 20,374 |   |   |   | (11,791 | ) |   |   | (b,c,d | ) |   |   | 799,178 |   |   |   | 17,046 |   |   |   | (2,146 | ) | (g) |   |   | 814,078 |   |
| Commission                expenses                                                                                                     |   |                                | -       |   |                              |   | 149,785   |                       |   |   | -                                     |   |   |   | - |   |   |   |   | 149,785 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   |   | 149,785 |   |   |   | - |   |   |   | (7,328 | ) | (b) |   |   | 142,457 |   |
| Cost                of sales                                                                                                           |   |                                | -       |   |                              |   | 83,235    |                       |   |   | -                                     |   |   |   | - |   |   |   |   | 83,235 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   |   | 83,235 |   |   |   | 5,499 |   |   |   | - |   |   |   |   | 88,734 |   |
| Benefits                and losses                                                                                                     |   |                                | -       |   |                              |   | -         |                       |   |   | -                                     |   |   |   | - |   |   |   |   | - |   |   |   | 17,357 |   |   |   | 67,678 |   |   |   | 5,874 |   |   | (c) |   |   |   | 90,909 |   |   |   | - |   |   |   | - |   |   |   |   | 90,909 |   |
| Amortization                of deferred policy acquisition costs                                                                       |   |                                | -       |   |                              |   | -         |                       |   |   | -                                     |   |   |   | - |   |   |   |   | - |   |   |   | 1,707 |   |   |   | 12,964 |   |   |   | - |   |   |   |   |   |   |   | 14,671 |   |   |   | - |   |   |   | - |   |   |   |   | 14,671 |   |
| Lease                expense                                                                                                           |   |                                | 63      |   |                              |   | 112,565   |                       |   |   | 835                                   |   |   |   | - |   |   |   |   | 113,463 |   |   |   | - |   |   |   | - |   |   |   | (1,693 | ) |   | (b) |   |   |   | 111,770 |   |   |   | - |   |   |   | (532 | ) | (b) |   |   | 111,238 |   |
| Depreciation,                net of (gains) losses on disposals                                                                        |   |                                | 183     |   |                              |   | 127,330   |                       |   |   | 3,676                                 |   |   |   | - |   |   |   |   | 131,189 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   |   | 131,189 |   |   |   | 2,006 |   |   |   | (420 | ) | (e) |   |   | 132,775 |   |
| Total                costs and expenses                                                                                                |   |                                | 9,918   |   |                              |   | 1,295,934 |                       |   |   | 11,460                                |   |   |   | (54,873 | ) |   |   |   | 1,262,439 |   |   |   | 24,892 |   |   |   | 101,016 |   |   |   | (7,610 | ) |   |   |   |   |   |   | 1,380,737 |   |   |   | 24,551 |   |   |   | (10,426 | ) |   |   |   | 1,394,862 |   |
| Equity                in earnings of subsidiaries                                                                                      |   |                                | 67,522  |   |                              |   | -         |                       |   |   | -                                     |   |   |   | (57,250 | ) | (f) |   |   | 10,272 |   |   |   | - |   |   |   | - |   |   |   | (10,272 | ) |   | (f) |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | - |   |
| Equity                in earnings of SAC Holding II                                                                                    |   |                                | 837     |   |                              |   | -         |                       |   |   | -                                     |   |   |   | - |   |   |   |   | 837 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   |   | 837 |   |   |   | - |   |   |   | (837 | ) | (f) |   |   | - |   |
| Total                - equity in earnings of subsidiaries and SAC Holding                II                                            |   |                                | 68,359  |   |                              |   | -         |                       |   |   | -                                     |   |   |   | (57,250 | ) |   |   |   | 11,109 |   |   |   | - |   |   |   | - |   |   |   | (10,272 | ) |   |   |   |   |   |   | 837 |   |   |   | - |   |   |   | (837 | ) |   |   |   | - |   |
| Earnings                from operations                                                                                                |   |                                | 62,338  |   |                              |   | 188,061   |                       |   |   | 40,473                                |   |   |   | (57,250 | ) |   |   |   | 233,622 |   |   |   | 4,103 |   |   |   | 11,687 |   |   |   | (10,272 | ) |   |   |   |   |   |   | 239,140 |   |   |   | 11,273 |   |   |   | (5,732 | ) |   |   |   | 244,681 |   |
| Interest                income (expense)                                                                                               |   |                                | 67,008  |   |                              |   | (85,309   | )                          |   |   | (38,805                               | )      |   |   | - |   |   |   |   | (57,106 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   |   | (57,106 | ) |   |   | (9,865 | ) |   |   | 5,315 |   | (d) |   |   | (61,656 | ) |
| Amortization                of fees on early extinguishment of debt                                                                    |   |                                | -       |   |                              |   | (302      | )                          |   |   | (6,667                                | )      |   |   | - |   |   |   |   | (6,969 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   |   | (6,969 | ) |   |   | - |   |   |   | - |   |   |   |   | (6,969 | ) |
| Pretax                earnings (loss)                                                                                                  |   |                                | 129,346 |   |                              |   | 102,450   |                       |   |   | (4,999                                | )      |   |   | (57,250 | ) |   |   |   | 169,547 |   |   |   | 4,103 |   |   |   | 11,687 |   |   |   | (10,272 | ) |   |   |   |   |   |   | 175,065 |   |   |   | 1,408 |   |   |   | (417 | ) |   |   |   | 176,056 |   |
| Income                tax benefit (expense)                                                                                            |   |                                | (23,175 | )      |                              |   | (41,492   | )                          |   |   | 1,291                                 |   |   |   | - |   |   |   |   | (63,376 | ) |   |   | (1,436 | ) |   |   | (4,082 | ) |   |   | - |   |   |   |   |   |   |   | (68,894 | ) |   |   | (571 | ) |   |   | (159 | ) | (e) |   |   | (69,624 | ) |
| Net                earnings (loss)                                                                                                     |   |                                | 106,171 |   |                              |   | 60,958    |                       |   |   | (3,708                                | )      |   |   | (57,250 | ) |   |   |   | 106,171 |   |   |   | 2,667 |   |   |   | 7,605 |   |   |   | (10,272 | ) |   |   |   |   |   |   | 106,171 |   |   |   | 837 |   |   |   | (576 | ) |   |   |   | 106,432 |   |
| Less:  Preferred                stock dividends                                                                              |   |                                | (9,723  | )      |                              |   | -         |                       |   |   | -                                     |   |   |   | - |   |   |   |   | (9,723 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   |   | (9,723 | ) |   |   | - |   |   |   | - |   |   |   |   | (9,723 | ) |
| Earnings                (loss) available to common shareholders                                                                        |   | $                                   | 96,448  |   |                              | $      | 60,958    |                       |   | $      | (3,708                                | )      |   | $ | (57,250 | ) |   |   | $ | 96,448 |   |   | $ | 2,667 |   |   | $ | 7,605 |   |   | $ | (10,272 | ) |   |   |   |   |   | $ | 96,448 |   |   | $ | 837 |   |   | $ | (576 | ) |   |   | $ | 96,709 |   |
| (a) Balances                for the nine months ended September 30, 2006                                                          |   |                                |    |   |                              |   |      |                       |   |   |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (b)                Eliminate intercompany lease income and commission                income                                            |   |                                |    |   |                              |   |      |                       |   |   |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (c                )                Eliminate intercompany premiums                                                                     |   |                                |    |   |                              |   |      |                       |   |   |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (d)                Eliminate intercompany interest on debt                                                                             |   |                                |    |   |                              |   |      |                       |   |   |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (e)                Eliminate gain on sale of surplus property from U-Haul to SAC Holding                II                             |   |                                |    |   |                              |   |      |                       |   |   |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (f)                Eliminate equity in earnings of subsidiaries and equity in earnings                of SAC                Holding II |   |                                |    |   |                              |   |      |                       |   |   |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (g)                Eliminate management fees charged to SAC Holding II and other intercompany                operating expenses        |   |                                |    |   |                              |   |      |                       |   |   |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

|                                                                                                              |   | Moving                & Storage |    |   | AMERCO                Legal Group |   |     | AMERCO                as Consolidated |   |
|-------------------------------------------------------------------------------------------------------------------|--------|-------------------------------------|---------|--------|-----------------------------------|--------|----------|---------------------------------------|--------|
|                                                                                                              |   | AMERCO                              |    |   | U-Haul                            |   |     | Real                Estate            |   |   | Elimination |   |   | Moving                & StorageConsolidated |   |   | Property                &CasualtyInsurance                (a) |   |   | LifeInsurance                (a) |   |   | Elimination |   |   | AMERCOConsolidated |   |   | SAC                Holding II (b) |   |   | Elimination |   |   | TotalConsolidated |   |
|                                                                                                              |   | (Unaudited)                         |    |
| Cash                flows from operating activities:                                                              |   | (In                thousands)       |    |
| Net                earnings                                                                                       |   | $                                   | 81,629  |   |                              | $      | 26,855   |                                  |   | $ | 4,051 |   |   | $ | (30,906 | ) |   | $ | 81,629 |   |   | $ | 5,398 |   |   | $ | 7,178 |   |   | $ | (12,576 | ) |   | $ | 81,629 |   |   | $ | 222 |   |   | $ | (19 | ) |   | $ | 81,832 |   |
| Earnings                from consolidated entities                                                                |   |                                | (43,704 | )      |                              |   | -        |                                  |   |   | - |   |   |   | 30,906 |   |   |   | (12,798 | ) |   |   | - |   |   |   | - |   |   |   | 12,576 |   |   |   | (222 | ) |   |   | - |   |   |   | 222 |   |   |   | - |   |
| Adjustments                to reconcile net earnings to cash provided by                operations:               |   |                                |    |   |                              |   |     |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Depreciation                                                                                                      |   |                                | 509     |   |                              |   | 159,835  |                                  |   |   | 8,533 |   |   |   | - |   |   |   | 168,877 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 168,877 |   |   |   | 1,634 |   |   |   | (327 | ) |   |   | 170,184 |   |
| Amortization                of deferred policy acquisition costs                                                  |   |                                | -       |   |                              |   | -        |                                  |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 183 |   |   |   | 9,687 |   |   |   | - |   |   |   | 9,870 |   |   |   | - |   |   |   | - |   |   |   | 9,870 |   |
| Change                in provision for loss on trade receivables                                                  |   |                                | -       |   |                              |   | 25       |                                  |   |   | - |   |   |   | - |   |   |   | 25 |   |   |   | - |   |   |   | 50 |   |   |   | - |   |   |   | 75 |   |   |   | - |   |   |   | - |   |   |   | 75 |   |
| Change                in provision for gain on mortgage notes                                                     |   |                                | -       |   |                              |   | (29      | )                                     |   |   | - |   |   |   | - |   |   |   | (29 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (29 | ) |   |   | - |   |   |   | - |   |   |   | (29 | ) |
| Change                in provision for inventory reserve                                                          |   |                                | -       |   |                              |   | 2,371    |                                  |   |   | - |   |   |   | - |   |   |   | 2,371 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 2,371 |   |   |   | - |   |   |   | - |   |   |   | 2,371 |   |
| Net                (gain) loss on sale of real and personal property                                              |   |                                | -       |   |                              |   | 1,006    |                                  |   |   | (10,004 | ) |   |   | - |   |   |   | (8,998 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (8,998 | ) |   |   | (160 | ) |   |   | - |   |   |   | (9,158 | ) |
| Net                loss on sale of investments                                                                    |   |                                | -       |   |                              |   | -        |                                  |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 172 |   |   |   | 203 |   |   |   | - |   |   |   | 375 |   |   |   | - |   |   |   | - |   |   |   | 375 |   |
| Deferred                income taxes                                                                              |   |                                | 8,326   |   |                              |   | 76       |                                  |   |   | - |   |   |   | - |   |   |   | 8,402 |   |   |   | 3,203 |   |   |   | (2,115 | ) |   |   | - |   |   |   | 9,490 |   |   |   | 146 |   |   |   | 124 |   |   |   | 9,760 |   |
| Net                change in other operating assets and liabilities:                                              |   |                                |    |   |                              |   |     |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Reinsurance                recoverables and trade receivables                                                     |   |                                | -       |   |                              |   | 699      |                                  |   |   | - |   |   |   | - |   |   |   | 699 |   |   |   | 3,901 |   |   |   | 216 |   |   |   | - |   |   |   | 4,816 |   |   |   | - |   |   |   | - |   |   |   | 4,816 |   |
| Inventories                                                                                                       |   |                                | -       |   |                              |   | 1,582    |                                  |   |   | - |   |   |   | - |   |   |   | 1,582 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 1,582 |   |   |   | 4 |   |   |   | - |   |   |   | 1,586 |   |
| Prepaid                expenses                                                                                   |   |                                | 11,173  |   |                              |   | 1,080    |                                  |   |   | (104 | ) |   |   | - |   |   |   | 12,149 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 12,149 |   |   |   | 47 |   |   |   | - |   |   |   | 12,196 |   |
| Capitalization                of deferred policy acquisition costs                                                |   |                                | -       |   |                              |   | -        |                                  |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (32 | ) |   |   | (3,862 | ) |   |   | - |   |   |   | (3,894 | ) |   |   | - |   |   |   | - |   |   |   | (3,894 | ) |
| Other                assets                                                                                       |   |                                | 4       |   |                              |   | 1,190    |                                  |   |   | 1,077 |   |   |   | - |   |   |   | 2,271 |   |   |   | (344 | ) |   |   | 121 |   |   |   | - |   |   |   | 2,048 |   |   |   | (1,008 | ) |   |   | - |   |   |   | 1,040 |   |
| Related                party assets                                                                               |   |                                | 5,922   |   |                              |   | 8,579    |                                  |   |   | 12,453 |   |   |   | - |   |   |   | 26,954 |   |   |   | 3,004 |   |   |   | 5,040 |   |   |   | - |   |   |   | 34,998 |   |   |   | 5 |   |   |   | - |   |   |   | 35,003 |   |
| Accounts                payable and accrued expenses                                                              |   |                                | 2,424   |   |                              |   | 7,460    |                                  |   |   | (3,684 | ) |   |   | - |   |   |   | 6,200 |   |   |   | - |   |   |   | (1,514 | ) |   |   | - |   |   |   | 4,686 |   |   |   | 680 |   |   |   | - |   |   |   | 5,366 |   |
| Policy                benefits and losses, claims and loss expenses                payable                        |   |                                | -       |   |                              |   | 25,884   |                                  |   |   | - |   |   |   | - |   |   |   | 25,884 |   |   |   | (20,508 | ) |   |   | (8,414 | ) |   |   | - |   |   |   | (3,038 | ) |   |   | - |   |   |   | - |   |   |   | (3,038 | ) |
| Other                policyholders' funds and liabilities                                                         |   |                                | -       |   |                              |   | -        |                                  |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 524 |   |   |   | (612 | ) |   |   | - |   |   |   | (88 | ) |   |   | - |   |   |   | - |   |   |   | (88 | ) |
| Deferred                income                                                                                    |   |                                | -       |   |                              |   | (6,198   | )                                     |   |   | - |   |   |   | - |   |   |   | (6,198 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (6,198 | ) |   |   | (48 | ) |   |   | - |   |   |   | (6,246 | ) |
| Related                party liabilities                                                                          |   |                                | -       |   |                              |   | (3,582   | )                                     |   |   | - |   |   |   | - |   |   |   | (3,582 | ) |   |   | (428 | ) |   |   | (5,408 | ) |   |   | - |   |   |   | (9,418 | ) |   |   | 287 |   |   |   | - |   |   |   | (9,131 | ) |
| Net                cash provided (used) by operating activities                                                   |   |                                | 66,283  |   |                              |   | 226,833  |                                  |   |   | 12,322 |   |   |   | - |   |   |   | 305,438 |   |   |   | (4,927 | ) |   |   | 570 |   |   |   | - |   |   |   | 301,081 |   |   |   | 1,809 |   |   |   | - |   |   |   | 302,890 |   |
| Cash                flows from investing activities:                                                              |   |                                |    |   |                              |   |     |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Purchases                of:                                                                                      |   |                                |    |   |                              |   |     |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Property,                plant and equipment                                                                      |   |                                | (2,466  | )      |                              |   | (413,727 | )                                     |   |   | (22,754 | ) |   |   | - |   |   |   | (438,947 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (438,947 | ) |   |   | (1,381 | ) |   |   | - |   |   |   | (440,328 | ) |
| Short                term investments                                                                             |   |                                | -       |   |                              |   | -        |                                  |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (48,130 | ) |   |   | (123,788 | ) |   |   | - |   |   |   | (171,918 | ) |   |   | - |   |   |   | - |   |   |   | (171,918 | ) |
| Fixed                maturities investments                                                                       |   |                                | -       |   |                              |   | -        |                                  |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (14,876 | ) |   |   | (41,629 | ) |   |   | - |   |   |   | (56,505 | ) |   |   | - |   |   |   | - |   |   |   | (56,505 | ) |
| Equity                securities                                                                                  |   |                                | -       |   |                              |   | -        |                                  |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (27 | ) |   |   | - |   |   |   | (27 | ) |   |   | - |   |   |   | - |   |   |   | (27 | ) |
| Real                estate                                                                                        |   |                                | -       |   |                              |   | -        |                                  |   |   | (3,196 | ) |   |   | - |   |   |   | (3,196 | ) |   |   | (208 | ) |   |   | - |   |   |   | - |   |   |   | (3,404 | ) |   |   | - |   |   |   | - |   |   |   | (3,404 | ) |
| Mortgage                loans                                                                                     |   |                                | -       |   |                              |   | -        |                                  |   |   | (346 | ) |   |   | - |   |   |   | (346 | ) |   |   | (1,650 | ) |   |   | (10,526 | ) |   |   | - |   |   |   | (12,522 | ) |   |   | - |   |   |   | - |   |   |   | (12,522 | ) |
| Proceeds                from sales of:                                                                            |   |                                |    |   |                              |   |     |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Property,                plant and equipment                                                                      |   |                                | -       |   |                              |   | 122,433  |                                  |   |   | 11,275 |   |   |   | - |   |   |   | 133,708 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 133,708 |   |   |   | 391 |   |   |   | - |   |   |   | 134,099 |   |
| Short                term investments                                                                             |   |                                | -       |   |                              |   | -        |                                  |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 50,071 |   |   |   | 142,903 |   |   |   | - |   |   |   | 192,974 |   |   |   | - |   |   |   | - |   |   |   | 192,974 |   |
| Fixed                maturities investments                                                                       |   |                                | -       |   |                              |   | -        |                                  |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 16,149 |   |   |   | 61,624 |   |   |   | - |   |   |   | 77,773 |   |   |   | - |   |   |   | - |   |   |   | 77,773 |   |
| Equity                securities                                                                                  |   |                                | -       |   |                              |   | -        |                                  |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 46 |   |   |   | - |   |   |   | 46 |   |   |   | - |   |   |   | - |   |   |   | 46 |   |
| Preferred                stock                                                                                    |   |                                | -       |   |                              |   | -        |                                  |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 5,000 |   |   |   | 625 |   |   |   | - |   |   |   | 5,625 |   |   |   | - |   |   |   | - |   |   |   | 5,625 |   |
| Real                estate                                                                                        |   |                                | -       |   |                              |   | 153      |                                  |   |   | - |   |   |   | - |   |   |   | 153 |   |   |   | 631 |   |   |   | - |   |   |   | - |   |   |   | 784 |   |   |   | - |   |   |   | - |   |   |   | 784 |   |
| Mortgage                loans                                                                                     |   |                                | -       |   |                              |   | -        |                                  |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 6,394 |   |   |   | - |   |   |   | 6,394 |   |   |   | - |   |   |   | - |   |   |   | 6,394 |   |
| Payments                from notes and mortgage receivables                                                       |   |                                | -       |   |                              |   | 89       |                                  |   |   | - |   |   |   | - |   |   |   | 89 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 89 |   |   |   | - |   |   |   | - |   |   |   | 89 |   |
| Net                cash provided (used) by investing activities                                                   |   |                                | (2,466  | )      |                              |   | (291,052 | )                                     |   |   | (15,021 | ) |   |   | - |   |   |   | (308,539 | ) |   |   | 6,987 |   |   |   | 35,622 |   |   |   | - |   |   |   | (265,930 | ) |   |   | (990 | ) |   |   | - |   |   |   | (266,920 | ) |
|                                                                                                              |   | (page                1 of 2)        |    |
| (a)                Balance for the period ended September 30, 2007                                                |   |                                |    |   |                              |   |     |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (b)                Activity for the seven months ending October 31, 2007, prior to                deconsolidation |   |                                |    |   |                              |   |     |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

|                                                                                                              |   |                                |    |   |                              |   |     |                                  |   |   |        |   |   |                                            |   |   |                                                              |   |     |                             |   |   |        |   |   |               |    |   |                              |   |   |        |   |   |              |   |
|-------------------------------------------------------------------------------------------------------------------|--------|-------------------------------------|---------|--------|-----------------------------------|--------|----------|---------------------------------------|--------|--------|-------------|--------|--------|-------------------------------------------------|--------|--------|-------------------------------------------------------------------|--------|----------|----------------------------------|--------|--------|-------------|--------|--------|--------------------|---------|--------|-----------------------------------|--------|--------|-------------|--------|--------|-------------------|--------|
|                                                                                                              |   | Moving                & Storage |    |   | AMERCO                Legal Group |   |     | AMERCO                as Consolidated |   |
|                                                                                                              |   | AMERCO                              |    |   | U-Haul                            |   |     | Real                Estate            |   |   | Elimination |   |   | Moving                & StorageConsolidated |   |   | Property                &CasualtyInsurance                (a) |   |     | LifeInsurance                (a) |   |   | Elimination |   |   | AMERCOConsolidated |    |   | SAC                Holding II (b) |   |   | Elimination |   |   | TotalConsolidated |   |
|                                                                                                              |   | (Unaudited)                         |    |
| Cash                flows from financing activities:                                                              |   | (In                thousands)       |    |
| Borrowings                from credit facilities                                                                  |   |                                | -       |   |                              |   | 409,800  |                                  |   |   | 77,826      |   |   |                                            | -      |   |                                                              |   | 487,626  |                             |   |   | -           |   |   |               | -       |   |                              |   | -      |        |   |   | 487,626           |   |   |   | - |   |   |   | - |   |   |   | 487,626 |   |
| Principal                repayments on credit facilities                                                          |   |                                | -       |   |                              |   | (168,653 | )                                     |   |   | (74,636     | )      |   |                                            | -      |   |                                                              |   | (243,289 | )                                |   |   | -           |   |   |               | -       |   |                              |   | -      |        |   |   | (243,289          | )      |   |   | (819 | ) |   |   | - |   |   |   | (244,108 | ) |
| Debt                issuance costs                                                                                |   |                                | -       |   |                              |   | (11,706  | )                                     |   |   | (170        | )      |   |                                            | -      |   |                                                              |   | (11,876  | )                                |   |   | -           |   |   |               | -       |   |                              |   | -      |        |   |   | (11,876           | )      |   |   | - |   |   |   | - |   |   |   | (11,876 | ) |
| Leveraged                Employee Stock Ownership Plan - repayments from                loan                      |   |                                | -       |   |                              |   | 923      |                                  |   |   | -           |   |   |                                            | -      |   |                                                              |   | 923      |                             |   |   | -           |   |   |               | -       |   |                              |   | -      |        |   |   | 923               |   |   |   | - |   |   |   | - |   |   |   | 923 |   |
| Treasury                stock repurchases                                                                         |   |                                | (33,966 | )      |                              |   | -        |                                  |   |   | -           |   |   |                                            | -      |   |                                                              |   | (33,966  | )                                |   |   | -           |   |   |               | -       |   |                              |   | -      |        |   |   | (33,966           | )      |   |   | - |   |   |   | - |   |   |   | (33,966 | ) |
| Securitization                deposits                                                                            |   |                                | -       |   |                              |   | (60,764  | )                                     |   |   | -           |   |   |                                            | -      |   |                                                              |   | (60,764  | )                                |   |   | -           |   |   |               | -       |   |                              |   | -      |        |   |   | (60,764           | )      |   |   | - |   |   |   | - |   |   |   | (60,764 | ) |
| Proceeds                from (repayment of) intercompany loans                                                    |   |                                | (20,107 | )      |                              |   | 21,211   |                                  |   |   | (1,104      | )      |   |                                            | -      |   |                                                              |   | -        |                             |   |   | -           |   |   |               | -       |   |                              |   | -      |        |   |   | -                 |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Preferred                stock dividends paid                                                                     |   |                                | (9,723  | )      |                              |   | -        |                                  |   |   | -           |   |   |                                            | -      |   |                                                              |   | (9,723   | )                                |   |   | -           |   |   |               | -       |   |                              |   | -      |        |   |   | (9,723            | )      |   |   | - |   |   |   | - |   |   |   | (9,723 | ) |
| Investment                contract deposits                                                                       |   |                                | -       |   |                              |   | -        |                                  |   |   | -           |   |   |                                            | -      |   |                                                              |   | -        |                             |   |   | -           |   |   |               | 13,864  |   |                              |   | -      |        |   |   | 13,864            |   |   |   | - |   |   |   | - |   |   |   | 13,864 |   |
| Investment                contract withdrawals                                                                    |   |                                | -       |   |                              |   | -        |                                  |   |   | -           |   |   |                                            | -      |   |                                                              |   | -        |                             |   |   | -           |   |   |               | (49,806 | )      |                              |   | -      |        |   |   | (49,806           | )      |   |   | - |   |   |   | - |   |   |   | (49,806 | ) |
| Net                cash provided (used) by financing activities                                                   |   |                                | (63,796 | )      |                              |   | 190,811  |                                  |   |   | 1,916       |   |   |                                            | -      |   |                                                              |   | 128,931  |                             |   |   | -           |   |   |               | (35,942 | )      |                              |   | -      |        |   |   | 92,989            |   |   |   | (819 | ) |   |   | - |   |   |   | 92,170 |   |
|                                                                                                              |   |                                |    |   |                              |   |     |                                  |   |   |        |   |   |                                            |   |   |                                                              |   |     |                             |   |   |        |   |   |               |    |   |                              |   |   |        |   |   |              |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Effects                of exchange rate on cash                                                                   |   |                                | -       |   |                              |   | 311      |                                  |   |   | -           |   |   |                                            | -      |   |                                                              |   | 311      |                             |   |   | -           |   |   |               | -       |   |                              |   | -      |        |   |   | 311               |   |   |   | - |   |   |   | - |   |   |   | 311 |   |
|                                                                                                              |   |                                |    |   |                              |   |     |                                  |   |   |        |   |   |                                            |   |   |                                                              |   |     |                             |   |   |        |   |   |               |    |   |                              |   |   |        |   |   |              |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Increase                (decrease) in cash and cash equivalents                                                   |   |                                | 21      |   |                              |   | 126,903  |                                  |   |   | (783        | )      |   |                                            | -      |   |                                                              |   | 126,141  |                             |   |   | 2,060       |   |   |               | 250     |   |                              |   | -      |        |   |   | 128,451           |   |   |   | - |   |   |   | - |   |   |   | 128,451 |   |
| Cash                and cash equivalents at beginning of period                                                   |   |                                | 9       |   |                              |   | 63,490   |                                  |   |   | 807         |   |   |                                            | -      |   |                                                              |   | 64,306   |                             |   |   | 4,228       |   |   |               | 6,738   |   |                              |   | -      |        |   |   | 75,272            |   |   |   | - |   |   |   | - |   |   |   | 75,272 |   |
| Cash                and cash equivalents at end of period                                                         |   | $                                   | 30      |   |                              | $      | 190,393  |                                  |   | $      | 24          |   |   | $                                               | -      |   |                                                              | $      | 190,447  |                             |   | $      | 6,288       |   |   | $                  | 6,988   |   |                              | $      | -      |        |   | $      | 203,723           |   |   | $ | - |   |   | $ | - |   |   | $ | 203,723 |   |
|                                                                                                              |   | (page                2 of 2)        |    |
| (a)                Balance for the period ended September 30, 2007                                                |   |                                |    |   |                              |   |     |                                  |   |   |        |   |   |                                            |   |   |                                                              |   |     |                             |   |   |        |   |   |               |    |   |                              |   |   |        |   |   |              |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (b)                Activity for the seven months ending October 31, 2007, prior to                deconsolidation |   |                                |    |   |                              |   |     |                                  |   |   |        |   |   |                                            |   |   |                                                              |   |     |                             |   |   |        |   |   |               |    |   |                              |   |   |        |   |   |              |   |   |   |   |   |   |

----

|                                                                                                       |   | Moving                & Storage |    |   | AMERCO                Legal Group |   |     | AMERCO                as Consolidated |   |
|------------------------------------------------------------------------------------------------------------|--------|-------------------------------------|---------|--------|-----------------------------------|--------|----------|---------------------------------------|--------|
|                                                                                                       |   | AMERCO                              |    |   | U-Haul                            |   |     | Real                Estate            |   |   | Elimination |   |   | Moving                & StorageConsolidated |   |   | Property                &CasualtyInsurance                (a) |   |   | LifeInsurance                (a) |   |   | Elimination |   |   | AMERCOConsolidated |   |   | SAC                Holding II |   |   | Elimination |   |   | TotalConsolidated |   |
|                                                                                                       |   | (Unaudited)                         |    |
| Cash                flows from operating activities:                                                       |   | (In                thousands)       |    |
| Net                earnings (loss)                                                                         |   | $                                   | 106,171 |   |                              | $      | 60,958   |                                  |   | $ | (3,708 | ) |   | $ | (57,250 | ) |   | $ | 106,171 |   |   | $ | 2,667 |   |   | $ | 7,605 |   |   | $ | (10,272 | ) |   | $ | 106,171 |   |   | $ | 837 |   |   | $ | (576 | ) |   | $ | 106,432 |   |
| Earnings                from consolidated entities                                                         |   |                                | (68,359 | )      |                              |   | -        |                                  |   |   | - |   |   |   | 57,250 |   |   |   | (11,109 | ) |   |   | - |   |   |   | - |   |   |   | 10,272 |   |   |   | (837 | ) |   |   | - |   |   |   | 837 |   |   |   | - |   |
| Adjustments                to reconcile net earnings (loss) to cash provided by                operations: |   |                                |    |   |                              |   |     |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Depreciation                                                                                               |   |                                | 183     |   |                              |   | 123,742  |                                  |   |   | 8,060 |   |   |   | - |   |   |   | 131,985 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 131,985 |   |   |   | 2,006 |   |   |   | (420 | ) |   |   | 133,571 |   |
| Amortization                of deferred policy acquisition costs                                           |   |                                | -       |   |                              |   | -        |                                  |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 1,707 |   |   |   | 12,964 |   |   |   | - |   |   |   | 14,671 |   |   |   | - |   |   |   | - |   |   |   | 14,671 |   |
| Change                in provision for loss on trade receivables                                           |   |                                | -       |   |                              |   | 86       |                                  |   |   | - |   |   |   | - |   |   |   | 86 |   |   |   | - |   |   |   | 116 |   |   |   | - |   |   |   | 202 |   |   |   | - |   |   |   | - |   |   |   | 202 |   |
| Change                in provision for gain on mortgage notes                                              |   |                                | -       |   |                              |   | (30      | )                                     |   |   | - |   |   |   | - |   |   |   | (30 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (30 | ) |   |   | - |   |   |   | - |   |   |   | (30 | ) |
| Net                (gain) loss on sale of real and personal property                                       |   |                                | -       |   |                              |   | 3,588    |                                  |   |   | (4,384 | ) |   |   | - |   |   |   | (796 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (796 | ) |   |   | - |   |   |   | - |   |   |   | (796 | ) |
| Net                loss on sale of investments                                                             |   |                                | -       |   |                              |   | -        |                                  |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 799 |   |   |   | 816 |   |   |   | - |   |   |   | 1,615 |   |   |   | - |   |   |   | - |   |   |   | 1,615 |   |
| Write-off                of unamortized debt issuance costs                                                |   |                                | -       |   |                              |   | 302      |                                  |   |   | 6,667 |   |   |   | - |   |   |   | 6,969 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 6,969 |   |   |   | - |   |   |   | - |   |   |   | 6,969 |   |
| Deferred                income taxes                                                                       |   |                                | 13,959  |   |                              |   | -        |                                  |   |   | - |   |   |   | - |   |   |   | 13,959 |   |   |   | 887 |   |   |   | (94 | ) |   |   | - |   |   |   | 14,752 |   |   |   | 539 |   |   |   | 160 |   |   |   | 15,451 |   |
| Net                change in other operating assets and liabilities:                                       |   |                                |    |   |                              |   |     |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Reinsurance                recoverables and trade receivables                                              |   |                                | -       |   |                              |   | (3,265   | )                                     |   |   | - |   |   |   | - |   |   |   | (3,265 | ) |   |   | 21,052 |   |   |   | 1,054 |   |   |   | - |   |   |   | 18,841 |   |   |   | - |   |   |   | - |   |   |   | 18,841 |   |
| Inventories                                                                                                |   |                                | -       |   |                              |   | (2,956   | )                                     |   |   | - |   |   |   | - |   |   |   | (2,956 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (2,956 | ) |   |   | (126 | ) |   |   | - |   |   |   | (3,082 | ) |
| Prepaid                expenses                                                                            |   |                                | 1,322   |   |                              |   | 3,339    |                                  |   |   | (219 | ) |   |   | - |   |   |   | 4,442 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 4,442 |   |   |   | (117 | ) |   |   | - |   |   |   | 4,325 |   |
| Capitalization                of deferred policy acquisition costs                                         |   |                                | -       |   |                              |   | -        |                                  |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (882 | ) |   |   | (3,310 | ) |   |   | - |   |   |   | (4,192 | ) |   |   | - |   |   |   | - |   |   |   | (4,192 | ) |
| Other                assets                                                                                |   |                                | (3      | )      |                              |   | 900      |                                  |   |   | 1,725 |   |   |   | - |   |   |   | 2,622 |   |   |   | 240 |   |   |   | (183 | ) |   |   | - |   |   |   | 2,679 |   |   |   | (192 | ) |   |   | - |   |   |   | 2,487 |   |
| Related                party assets                                                                        |   |                                | (1,493  | )      |                              |   | 1,006    |                                  |   |   | 17 |   |   |   | 29,460 |   |   |   | 28,990 |   |   |   | 13,767 |   |   |   | 5,781 |   |   |   | (5,966 | ) |   |   | 42,572 |   |   |   | 2,900 |   |   |   | (5,193 | ) |   |   | 40,279 |   |
| Accounts                payable and accrued expenses                                                       |   |                                | (11,450 | )      |                              |   | 25,357   |                                  |   |   | (340 | ) |   |   | - |   |   |   | 13,567 |   |   |   | - |   |   |   | 1,502 |   |   |   | - |   |   |   | 15,069 |   |   |   | 76 |   |   |   | - |   |   |   | 15,145 |   |
| Policy                benefits and losses, claims and loss expenses                payable                 |   |                                | -       |   |                              |   | 32,733   |                                  |   |   | - |   |   |   | - |   |   |   | 32,733 |   |   |   | (35,713 | ) |   |   | (13,778 | ) |   |   | - |   |   |   | (16,758 | ) |   |   | - |   |   |   | - |   |   |   | (16,758 | ) |
| Other                policyholders' funds and liabilities                                                  |   |                                | -       |   |                              |   | -        |                                  |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 1,782 |   |   |   | (160 | ) |   |   | - |   |   |   | 1,622 |   |   |   | - |   |   |   | - |   |   |   | 1,622 |   |
| Deferred                income                                                                             |   |                                | -       |   |                              |   | (2,346   | )                                     |   |   | - |   |   |   | - |   |   |   | (2,346 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (2,346 | ) |   |   | (13 | ) |   |   | - |   |   |   | (2,359 | ) |
| Related                party liabilities                                                                   |   |                                | (201    | )      |                              |   | 752      |                                  |   |   | - |   |   |   | (29,460 | ) |   |   | (28,909 | ) |   |   | (1,873 | ) |   |   | 447 |   |   |   | 5,966 |   |   |   | (24,369 | ) |   |   | (4,457 | ) |   |   | 5,192 |   |   |   | (23,634 | ) |
| Net                cash provided (used) by operating activities                                            |   |                                | 40,129  |   |                              |   | 244,166  |                                  |   |   | 7,818 |   |   |   | - |   |   |   | 292,113 |   |   |   | 4,433 |   |   |   | 12,760 |   |   |   | - |   |   |   | 309,306 |   |   |   | 1,453 |   |   |   | - |   |   |   | 310,759 |   |
| Cash                flows from investing activities:                                                       |   |                                |    |   |                              |   |     |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Purchases                of:                                                                               |   |                                |    |   |                              |   |     |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Property,                plant and equipment                                                               |   |                                | (945    | )      |                              |   | (409,737 | )                                     |   |   | (44,187 | ) |   |   | - |   |   |   | (454,869 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (454,869 | ) |   |   | (729 | ) |   |   | - |   |   |   | (455,598 | ) |
| Short                term investments                                                                      |   |                                | -       |   |                              |   | -        |                                  |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (54,480 | ) |   |   | (116,697 | ) |   |   | - |   |   |   | (171,177 | ) |   |   | - |   |   |   | - |   |   |   | (171,177 | ) |
| Fixed                maturities investments                                                                |   |                                | -       |   |                              |   | -        |                                  |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (48,993 | ) |   |   | (25,201 | ) |   |   | - |   |   |   | (74,194 | ) |   |   | - |   |   |   | - |   |   |   | (74,194 | ) |
| Mortgage                loans                                                                              |   |                                | -       |   |                              |   | -        |                                  |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (9,550 | ) |   |   | - |   |   |   | (9,550 | ) |   |   | - |   |   |   | - |   |   |   | (9,550 | ) |
| Proceeds                from sales of:                                                                     |   |                                |    |   |                              |   |     |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Property,                plant and equipment                                                               |   |                                | -       |   |                              |   | 67,280   |                                  |   |   | 4,388 |   |   |   | - |   |   |   | 71,668 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 71,668 |   |   |   | - |   |   |   | - |   |   |   | 71,668 |   |
| Short                term investments                                                                      |   |                                | -       |   |                              |   | -        |                                  |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 73,716 |   |   |   | 125,364 |   |   |   | - |   |   |   | 199,080 |   |   |   | - |   |   |   | - |   |   |   | 199,080 |   |
| Fixed                maturities investments                                                                |   |                                | -       |   |                              |   | -        |                                  |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 13,239 |   |   |   | 57,942 |   |   |   | - |   |   |   | 71,181 |   |   |   | - |   |   |   | - |   |   |   | 71,181 |   |
| Cash                received in excess of purchase of company acquired                                     |   |                                | -       |   |                              |   | -        |                                  |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 1,235 |   |   |   | - |   |   |   | 1,235 |   |   |   | - |   |   |   | - |   |   |   | 1,235 |   |
| Preferred                stock                                                                             |   |                                | -       |   |                              |   | -        |                                  |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 225 |   |   |   | - |   |   |   | 225 |   |   |   | - |   |   |   | - |   |   |   | 225 |   |
| Real                estate                                                                                 |   |                                | -       |   |                              |   | 148      |                                  |   |   | (271 | ) |   |   | - |   |   |   | (123 | ) |   |   | 9,665 |   |   |   | - |   |   |   | - |   |   |   | 9,542 |   |   |   | - |   |   |   | - |   |   |   | 9,542 |   |
| Mortgage                loans                                                                              |   |                                | -       |   |                              |   | -        |                                  |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 4,835 |   |   |   | - |   |   |   | 4,835 |   |   |   | - |   |   |   | - |   |   |   | 4,835 |   |
| Payments                from notes and mortgage receivables                                                |   |                                | -       |   |                              |   | 69       |                                  |   |   | 683 |   |   |   | - |   |   |   | 752 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 752 |   |   |   | - |   |   |   | - |   |   |   | 752 |   |
| Net                cash provided (used) by investing activities                                            |   |                                | (945    | )      |                              |   | (342,240 | )                                     |   |   | (39,387 | ) |   |   | - |   |   |   | (382,572 | ) |   |   | (6,853 | ) |   |   | 38,153 |   |   |   | - |   |   |   | (351,272 | ) |   |   | (729 | ) |   |   | - |   |   |   | (352,001 | ) |
|                                                                                                       |   | (page                1 of 2)        |    |
| (a)                Balance for the period ended September 30, 2006                                         |   |                                |    |   |                              |   |     |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

|                                                                                         |   | Moving                & Storage |    |   | AMERCO                Legal Group |   |    | AMERCO                as Consolidated |   |
|----------------------------------------------------------------------------------------------|--------|-------------------------------------|---------|--------|-----------------------------------|--------|---------|---------------------------------------|--------|
|                                                                                         |   | AMERCO                              |    |   | U-Haul                            |   |    | Real                Estate            |   |   | Elimination |   |   | Moving                & StorageConsolidated |   |   | Property                &CasualtyInsurance                (a) |   |   | LifeInsurance                (a) |   |   | Elimination |   |   | AMERCOConsolidated |   |   | SAC                Holding II |   |   | Elimination |   |   | TotalConsolidated |   |
|                                                                                         |   | (Unaudited)                         |    |
| Cash                flows from financing activities:                                         |   | (In                thousands)       |    |
| Borrowings                from credit facilities                                             |   |                                | -       |   |                              |   | 266,260 |                                  |   |   | 54,929 |   |   |   | - |   |   |   | 321,189 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 321,189 |   |   |   | - |   |   |   | - |   |   |   | 321,189 |   |
| Principal                repayments on credit facilities                                     |   |                                | -       |   |                              |   | (34,611 | )                                     |   |   | (28,793 | ) |   |   | - |   |   |   | (63,404 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (63,404 | ) |   |   | (979 | ) |   |   | - |   |   |   | (64,383 | ) |
| Debt                issuance costs                                                           |   |                                | -       |   |                              |   | (1,837  | )                                     |   |   | (486 | ) |   |   | - |   |   |   | (2,323 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (2,323 | ) |   |   | - |   |   |   | - |   |   |   | (2,323 | ) |
| Leveraged                Employee Stock Ownership Plan - repayments from                loan |   |                                | -       |   |                              |   | 895     |                                  |   |   | - |   |   |   | - |   |   |   | 895 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 895 |   |   |   | - |   |   |   | - |   |   |   | 895 |   |
| Proceeds                from (repayment of) intercompany loans                               |   |                                | (29,460 | )      |                              |   | 23,584  |                                  |   |   | 5,876 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Preferred                stock dividends paid                                                |   |                                | (9,723  | )      |                              |   | -       |                                  |   |   | - |   |   |   | - |   |   |   | (9,723 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (9,723 | ) |   |   | - |   |   |   | - |   |   |   | (9,723 | ) |
| Investment                contract deposits                                                  |   |                                | -       |   |                              |   | -       |                                  |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 12,634 |   |   |   | - |   |   |   | 12,634 |   |   |   | - |   |   |   | - |   |   |   | 12,634 |   |
| Investment                contract withdrawals                                               |   |                                | -       |   |                              |   | -       |                                  |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (59,353 | ) |   |   | - |   |   |   | (59,353 | ) |   |   | - |   |   |   | - |   |   |   | (59,353 | ) |
| Net                cash provided (used) by financing activities                              |   |                                | (39,183 | )      |                              |   | 254,291 |                                  |   |   | 31,526 |   |   |   | - |   |   |   | 246,634 |   |   |   | - |   |   |   | (46,719 | ) |   |   | - |   |   |   | 199,915 |   |   |   | (979 | ) |   |   | - |   |   |   | 198,936 |   |
|                                                                                         |   |                                |    |   |                              |   |    |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Effects                of exchange rate on cash                                              |   |                                | -       |   |                              |   | (22     | )                                     |   |   | - |   |   |   | - |   |   |   | (22 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (22 | ) |   |   | - |   |   |   | - |   |   |   | (22 | ) |
|                                                                                         |   |                                |    |   |                              |   |    |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Increase                (decrease) in cash and cash equivalents                              |   |                                | 1       |   |                              |   | 156,195 |                                  |   |   | (43 | ) |   |   | - |   |   |   | 156,153 |   |   |   | (2,420 | ) |   |   | 4,194 |   |   |   | - |   |   |   | 157,927 |   |   |   | (255 | ) |   |   | - |   |   |   | 157,672 |   |
| Cash                and cash equivalents at beginning of period                              |   |                                | 7       |   |                              |   | 140,499 |                                  |   |   | 856 |   |   |   | - |   |   |   | 141,362 |   |   |   | 9,815 |   |   |   | 4,027 |   |   |   | - |   |   |   | 155,204 |   |   |   | 255 |   |   |   | - |   |   |   | 155,459 |   |
| Cash                and cash equivalents at end of period                                    |   | $                                   | 8       |   |                              | $      | 296,694 |                                  |   | $ | 813 |   |   | $ | - |   |   | $ | 297,515 |   |   | $ | 7,395 |   |   | $ | 8,221 |   |   | $ | - |   |   | $ | 313,131 |   |   | $ | - |   |   | $ | - |   |   | $ | 313,131 |   |
|                                                                                         |   | (page                2 of 2)        |    |
| (a)                Balance for the period ended September 30, 2006                           |   |                                |    |   |                              |   |    |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

|                                                                             |   | United                States                              |      |   | Canada |   |    | Consolidated |   |
|----------------------------------------------------------------------------------|--------|-----------------------------------------------------------|-----------|--------|--------|--------|---------|--------------|--------|
|                                                                             |   | (Unaudited)                                               |      |
|                                                                             |   | (All                amounts are in thousands of U.S. $'s) |      |
| Quarter                ended December 31, 2007                                   |   |                                                      |      |   |   |   |    |         |   |
| Total                revenues                                                    |   | $                                                         | 442,667   |   |   | $      | 26,001  |         |   | $ | 468,668 |   |
| Depreciation                and amortization, net of (gains) losses on disposals |   |                                                      | 61,207    |   |   |   | 2,495   |         |   |   | 63,702 |   |
| Interest                expense                                                  |   |                                                      | 25,012    |   |   |   | 215     |         |   |   | 25,227 |   |
| Pretax                loss                                                       |   |                                                      | (16,633   | )      |   |   | (235    | )            |   |   | (16,868 | ) |
| Income                tax benefit                                                |   |                                                      | (6,395    | )      |   |   | (79     | )            |   |   | (6,474 | ) |
| Identifiable                assets                                               |   |                                                      | 3,671,100 |   |   |   | 118,243 |         |   |   | 3,789,343 |   |
|                                                                             |   |                                                      |      |   |   |   |    |         |   |   |   |   |
| Quarter                ended December 31, 2006                                   |   |                                                      |      |   |   |   |    |         |   |   |   |   |
| Total                revenues                                                    |   | $                                                         | 446,975   |   |   | $      | 19,643  |         |   | $ | 466,618 |   |
| Depreciation                and amortization, net of (gains) losses on disposals |   |                                                      | 52,762    |   |   |   | 1,475   |         |   |   | 54,237 |   |
| Interest                expense                                                  |   |                                                      | 21,994    |   |   |   | 137     |         |   |   | 22,131 |   |
| Pretax                loss                                                       |   |                                                      | (10,820   | )      |   |   | (3,049  | )            |   |   | (13,869 | ) |
| Income                tax benefit                                                |   |                                                      | (3,352    | )      |   |   | (1,037  | )            |   |   | (4,389 | ) |
| Identifiable                assets                                               |   |                                                      | 3,587,142 |   |   |   | 85,354  |         |   |   | 3,672,496 |   |

|                                                                             |   | United                States                              |      |   | Canada |   |    | Consolidated |   |
|----------------------------------------------------------------------------------|--------|-----------------------------------------------------------|-----------|--------|--------|--------|---------|--------------|--------|
|                                                                             |   | (Unaudited)                                               |      |
|                                                                             |   | (All                amounts are in thousands of U.S. $'s) |      |
| Nine                months ended December 31, 2007                               |   |                                                      |      |   |   |   |    |         |   |
| Total                revenues                                                    |   | $                                                         | 1,537,745 |   |   | $      | 89,638  |         |   | $ | 1,627,383 |   |
| Depreciation                and amortization, net of (gains) losses on disposals |   |                                                      | 163,812   |   |   |   | 7,084   |         |   |   | 170,896 |   |
| Interest                expense                                                  |   |                                                      | 75,924    |   |   |   | 569     |         |   |   | 76,493 |   |
| Pretax                earnings                                                   |   |                                                      | 129,553   |   |   |   | 3,498   |         |   |   | 133,051 |   |
| Income                tax expense                                                |   |                                                      | 50,028    |   |   |   | 1,191   |         |   |   | 51,219 |   |
| Identifiable                assets                                               |   |                                                      | 3,671,100 |   |   |   | 118,243 |         |   |   | 3,789,343 |   |
|                                                                             |   |                                                      |      |   |   |   |    |         |   |   |   |   |
| Nine                months ended December 31, 2006                               |   |                                                      |      |   |   |   |    |         |   |   |   |   |
| Total                revenues                                                    |   | $                                                         | 1,563,980 |   |   | $      | 75,563  |         |   | $ | 1,639,543 |   |
| Depreciation                and amortization, net of (gains) losses on disposals |   |                                                      | 142,397   |   |   |   | 5,049   |         |   |   | 147,446 |   |
| Interest                expense                                                  |   |                                                      | 61,254    |   |   |   | 402     |         |   |   | 61,656 |   |
| Pretax                earnings                                                   |   |                                                      | 173,800   |   |   |   | 2,256   |         |   |   | 176,056 |   |
| Income                tax expense                                                |   |                                                      | 68,857    |   |   |   | 767     |         |   |   | 69,624 |   |
| Identifiable                assets                                               |   |                                                      | 3,587,142 |   |   |   | 85,354  |         |   |   | 3,672,496 |   |

----

|                                                               |   | Quarter                Ended December 31, |   |
|--------------------------------------------------------------------|--------|-------------------------------------------|--------|
|                                                               |   | 2007                                      |   |   | 2006 |   |
|                                                               |   |                                      |   |   |   |   |
| Service                cost for benefits earned during the period  |   |  $                                   | 168    |   |   |  $ | 141 |   |
| Interest                cost on accumulated postretirement benefit |   |                                      | 152    |   |   |   | 116 |   |
| Other                components                                    |   |                                      | (110   | ) |   |   | (131 | ) |
| Net                periodic postretirement benefit cost            |   |  $                                   | 210    |   |   |  $ | 126 |   |

|                                                               |   | Nine                Months Ended December 31, |   |
|--------------------------------------------------------------------|--------|-----------------------------------------------|--------|
|                                                               |   | 2007                                          |   |   | 2006 |   |
|                                                               |   |                                          |   |   |   |   |
| Service                cost for benefits earned during the period  |   |  $                                       | 504    |   |   |  $ | 423 |   |
| Interest                cost on accumulated postretirement benefit |   |                                          | 457    |   |   |   | 348 |   |
| Other                components                                    |   |                                          | (330   | ) |   |   | (392 | ) |
| Net                periodic postretirement benefit cost            |   |  $                                       | 631    |   |   |  $ | 379 |   |

----

Management’s      Discussion and Analysis      of Financial Condition and Results of Operations

|   | AMERCO’s                four reportable segments are: |
|--------|-------------------------------------------------------------|

|   | (a) | Moving                and Storage, comprised of AMERCO, U-Haul, and Real Estate and the                subsidiaries of U-Haul and Real Estate |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | Property                and Casualty Insurance, comprised of RepWest and its wholly-owned                subsidiaries |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------|

|   | (c) | Life                Insurance, comprised of Oxford and its wholly-owned subsidiaries |
|--------|-----|--------------------------------------------------------------------------------------|

|   | (d) | SAC                Holding II and its subsidiaries (through October 2007) |
|--------|-----|---------------------------------------------------------------------------|

----

----

----

----

----

|                                                                         |   | Quarter                Ended December 31, |    |
|------------------------------------------------------------------------------|--------|-------------------------------------------|---------|
|                                                                         |   | 2007                                      |    |   | 2006 |   |
|                                                                         |   | (Unaudited)                               |    |
|                                                                         |   | (In                thousands)             |    |
|  Self-moving                equipment rentals                           |   | $                                         | 329,905 |   |   | $ | 328,149 |   |
|  Self-storage                revenues                                   |   |                                      | 29,630  |   |   |   | 31,765 |   |
|  Self-moving                and self-storage products and service sales |   |                                      | 43,211  |   |   |   | 46,351 |   |
|  Property                management fees                                |   |                                      | 6,925   |   |   |   | 5,914 |   |
|  Life                insurance premiums                                 |   |                                      | 27,757  |   |   |   | 29,454 |   |
|  Property                and casualty insurance premiums                |   |                                      | 7,738   |   |   |   | 6,555 |   |
|  Net                investment and interest income                      |   |                                      | 16,044  |   |   |   | 12,799 |   |
|  Other                revenue                                           |   |                                      | 7,458   |   |   |   | 5,631 |   |
|  Consolidated                revenue                                    |   | $                                         | 468,668 |   |   | $ | 466,618 |   |

----

|                                                 |   | Quarter                Ended December 31, |    |
|------------------------------------------------------|--------|-------------------------------------------|---------|
|                                                 |   | 2007                                      |    |   | 2006 |   |
|                                                 |   | (Unaudited)                               |    |
|                                                 |   | (In                thousands)             |    |
|  Moving                and storage              |   |                                      |    |   |   |   |
|  Revenues                                       |   | $                                         | 422,411 |   |   | $ | 418,493 |   |
|  Earnings                from operations        |   |                                      | 5,435   |   |   |   | 4,911 |   |
|  Property                and casualty insurance |   |                                      |    |   |   |   |   |   |
|  Revenues                                       |   |                                      | 10,892  |   |   |   | 11,667 |   |
|  Earnings                from operations        |   |                                      | 2,266   |   |   |   | 738 |   |
|  Life                insurance                  |   |                                      |    |   |   |   |   |   |
|  Revenues                                       |   |                                      | 33,843  |   |   |   | 35,835 |   |
|  Earnings                from operations        |   |                                      | 5,047   |   |   |   | 4,333 |   |
|  SAC                Holding II                  |   |                                      |    |   |   |   |   |   |
|  Revenues                                       |   |                                      | 3,551   |   |   |   | 10,810 |   |
|  Earnings                from operations        |   |                                      | 851     |   |   |   | 3,011 |   |
|  Eliminations                                   |   |                                      |    |   |   |   |   |   |
|  Revenues                                       |   |                                      | (2,029  | ) |   |   | (10,187 | ) |
|  Earnings                from operations        |   |                                      | (5,240  | ) |   |   | (4,731 | ) |
|  Consolidated                results            |   |                                      |    |   |   |   |   |   |
|  Revenues                                       |   |                                      | 468,668 |   |   |   | 466,618 |   |
|  Earnings                from operations        |   |                                      | 8,359   |   |   |   | 8,262 |   |

----

|                                                                         |   | Quarter                Ended December 31, |    |
|------------------------------------------------------------------------------|--------|-------------------------------------------|---------|
|                                                                         |   | 2007                                      |    |   | 2006 |   |
|                                                                         |   | (Unaudited)                               |    |
|                                                                         |   | (In                thousands)             |    |
|  Self-moving                equipment rentals                           |   | $                                         | 329,905 |   |   | $ | 328,149 |   |
|  Self-storage                revenues                                   |   |                                      | 27,958  |   |   |   | 26,706 |   |
|  Self-moving                and self-storage products and service sales |   |                                      | 42,134  |   |   |   | 42,992 |   |
|  Property                management fees                                |   |                                      | 7,137   |   |   |   | 6,559 |   |
|  Net                investment and interest income                      |   |                                      | 9,029   |   |   |   | 9,490 |   |
|  Other                revenue                                           |   |                                      | 6,248   |   |   |   | 4,597 |   |
|  Moving                and Storage revenue                              |   | $                                         | 422,411 |   |   | $ | 418,493 |   |

|                                                      |   | Quarter                Ended December 31,            |   |
|-----------------------------------------------------------|--------|------------------------------------------------------|--------|
|                                                      |   | 2007                                                 |   |   | 2006 |   |
|                                                      |   | (Unaudited)                                          |   |
|                                                      |   | (In                thousands, except occupancy rate) |   |
| Room                count as of December 31               |   |                                                 | 132    |   |   |   | 126 |   |
| Square                footage as of December 31           |   |                                                 | 10,529 |   |   |   | 9,948 |   |
| Average                number of rooms occupied           |   |                                                 | 108    |   |   |   | 107 |   |
| Average                occupancy rate based on room count |   |                                                 | 82.6   | % |   |   | 85.4 | % |
| Average                square footage occupied            |   |                                                 | 8,740  |   |   |   | 8,585 |   |

----

----

|                                                                                               |   | Quarter                Ended December 31, |   |
|----------------------------------------------------------------------------------------------------|--------|-------------------------------------------|--------|
|                                                                                               |   | 2007                (a)                   |   |   | 2006 |   |
|                                                                                               |   | (Unaudited)                               |   |
|                                                                                               |   | (In                thousands)             |   |
|  Self-moving                equipment rentals                                                 |   | $                                         | 689    |   |   | $ | 2,018 |   |
|  Self-storage                revenues                                                         |   |                                      | 1,672  |   |   |   | 5,059 |   |
|  Self-moving                and self-storage products and service sales                       |   |                                      | 1,077  |   |   |   | 3,359 |   |
|  Other                revenue                                                                 |   |                                      | 113    |   |   |   | 374 |   |
|  Segment                revenue                                                               |   | $                                         | 3,551  |   |   | $ | 10,810 |   |
|                                                                                               |   |                                      |   |   |   |   |   |   |
| (a)                Activity for the month of October 2007, prior to                deconsolidation |   |

|                                                                         |   | Nine                Months Ended December 31, |      |
|------------------------------------------------------------------------------|--------|-----------------------------------------------|-----------|
|                                                                         |   | 2007                                          |      |   | 2006 |   |
|                                                                         |   | (Unaudited)                                   |      |
|                                                                         |   | (In                thousands)                 |      |
|  Self-moving                equipment rentals                           |   | $                                             | 1,165,783 |   |   | $ | 1,181,103 |   |
|  Self-storage                revenues                                   |   |                                          | 94,754    |   |   |   | 94,612 |   |
|  Self-moving                and self-storage products and service sales |   |                                          | 174,420   |   |   |   | 175,718 |   |
|  Property                management fees                                |   |                                          | 14,865    |   |   |   | 13,747 |   |
|  Life                insurance premiums                                 |   |                                          | 84,881    |   |   |   | 91,493 |   |
|  Property                and casualty insurance premiums                |   |                                          | 20,986    |   |   |   | 18,407 |   |
|  Net                investment and interest income                      |   |                                          | 46,832    |   |   |   | 41,900 |   |
|  Other                revenue                                           |   |                                          | 24,862    |   |   |   | 22,563 |   |
|  Consolidated                revenue                                    |   | $                                             | 1,627,383 |   |   | $ | 1,639,543 |   |

----

|                                                 |   | Nine                Months Ended December 31, |      |
|------------------------------------------------------|--------|-----------------------------------------------|-----------|
|                                                 |   | 2007                                          |      |   | 2006 |   |
|                                                 |   | (Unaudited)                                   |      |
|                                                 |   | (In                thousands)                 |      |
|  Moving                and storage              |   |                                          |      |   |   |   |
|  Revenues                                       |   | $                                             | 1,478,151 |   |   | $ | 1,484,952 |   |
|  Earnings                from operations        |   |                                          | 198,906   |   |   |   | 233,622 |   |
|  Property                and casualty insurance |   |                                          |      |   |   |   |   |   |
|  Revenues                                       |   |                                          | 30,301    |   |   |   | 28,995 |   |
|  Earnings                from operations        |   |                                          | 8,304     |   |   |   | 4,103 |   |
|  Life                insurance                  |   |                                          |      |   |   |   |   |   |
|  Revenues                                       |   |                                          | 104,486   |   |   |   | 112,703 |   |
|  Earnings                from operations        |   |                                          | 10,929    |   |   |   | 11,687 |   |
|  SAC                Holding II                  |   |                                          |      |   |   |   |   |   |
|  Revenues                                       |   |                                          | 28,102    |   |   |   | 35,824 |   |
|  Earnings                from operations        |   |                                          | 7,926     |   |   |   | 11,273 |   |
|  Eliminations                                   |   |                                          |      |   |   |   |   |   |
|  Revenues                                       |   |                                          | (13,657   | ) |   |   | (22,931 | ) |
|  Earnings                from operations        |   |                                          | (16,521   | ) |   |   | (16,004 | ) |
|  Consolidated                results            |   |                                          |      |   |   |   |   |   |
|  Revenues                                       |   |                                          | 1,627,383 |   |   |   | 1,639,543 |   |
|  Earnings                from operations        |   |                                          | 209,544   |   |   |   | 244,681 |   |

----

|                                                                         |   | Nine                Months Ended December 31, |      |
|------------------------------------------------------------------------------|--------|-----------------------------------------------|-----------|
|                                                                         |   | 2007                                          |      |   | 2006 |   |
|                                                                         |   | (Unaudited)                                   |      |
|                                                                         |   | (In                thousands)                 |      |
|  Self-moving                equipment rentals                           |   | $                                             | 1,165,783 |   |   | $ | 1,181,103 |   |
|  Self-storage                revenues                                   |   |                                          | 83,285    |   |   |   | 79,663 |   |
|  Self-moving                and self-storage products and service sales |   |                                          | 164,381   |   |   |   | 163,222 |   |
|  Property                management fees                                |   |                                          | 16,565    |   |   |   | 15,893 |   |
|  Net                investment and interest income                      |   |                                          | 26,877    |   |   |   | 26,338 |   |
|  Other                revenue                                           |   |                                          | 21,260    |   |   |   | 18,733 |   |
|  Moving                and Storage revenue                              |   | $                                             | 1,478,151 |   |   | $ | 1,484,952 |   |

|                                                      |   | Nine                Months Ended December 31,        |   |
|-----------------------------------------------------------|--------|------------------------------------------------------|--------|
|                                                      |   | 2007                                                 |   |   | 2006 |   |
|                                                      |   | (Unaudited)                                          |   |
|                                                      |   | (In                thousands, except occupancy rate) |   |
| Room                count as of December 31               |   |                                                 | 132    |   |   |   | 126 |   |
| Square                footage as of December 31           |   |                                                 | 10,529 |   |   |   | 9,948 |   |
| Average                number of rooms occupied           |   |                                                 | 110    |   |   |   | 109 |   |
| Average                occupancy rate based on room count |   |                                                 | 84.9   | % |   |   | 87.6 | % |
| Average                square footage occupied            |   |                                                 | 8,835  |   |   |   | 8,702 |   |

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|                                                                                                         |   | Nine                Months Ended December 31, |   |
|--------------------------------------------------------------------------------------------------------------|--------|-----------------------------------------------|--------|
|                                                                                                         |   | 2007                (a)                       |   |   | 2006 |   |
|                                                                                                         |   | (Unaudited)                                   |   |
|                                                                                                         |   | (In                thousands)                 |   |
|  Self-moving                equipment rentals                                                           |   | $                                             | 5,846  |   |   | $ | 7,328 |   |
|  Self-storage                revenues                                                                   |   |                                          | 11,469 |   |   |   | 14,949 |   |
|  Self-moving                and self-storage products and service sales                                 |   |                                          | 10,039 |   |   |   | 12,496 |   |
|  Other                revenue                                                                           |   |                                          | 748    |   |   |   | 1,051 |   |
|  Segment                revenue                                                                         |   | $                                             | 28,102 |   |   | $ | 35,824 |   |
|                                                                                                         |   |                                          |   |   |   |   |   |   |
| (a)                Activity for the seven months ended October 2007, prior to                deconsolidation |   |

|                                        |   | Moving                & Storage |      |   | RepWest                (a) |   |    | Oxford                (a) |   |
|---------------------------------------------|--------|-------------------------------------|-----------|--------|----------------------------|--------|---------|---------------------------|--------|
|                                        |   | (Unaudited)                         |      |
|                                        |   | (In                thousands)       |      |
| Cash                and cash equivalents    |   | $                                   | 190,447   |   |                       | $      | 6,288   |                      |   | $ | 6,988 |   |
| Other                financial assets       |   |                                | 339,179   |   |                       |   | 382,636 |                      |   |   | 592,724 |   |
| Debt                obligations (b)         |   |                                | 1,427,257 |   |                       |   | -       |                      |   |   | - |   |
|                                        |   |                                |      |   |                       |   |    |                      |   |   |   |   |
| (a)                As of September 30, 2007 |   |                                |      |   |                       |   |    |                      |   |   |   |   |
| (b)                Payable to third parties |   |                                |      |   |                       |   |    |                      |   |   |   |   |

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|                                                   |   | December                31, 2007 |   |
|--------------------------------------------------------|--------|----------------------------------|--------|
|                                                   |   | (Unaudited)                      |   |
|                                                   |   | (In                millions)     |   |
|                                                   |   |                             |   |
| Real                estate loan (revolving credit)     |   | $                                | 200.0  |   |
| Construction                loan (revolving credit)    |   |                             | 18.3   |   |
| Working                capital loan (revolving credit) |   |                             | 35.0   |   |
| Fleet                loan (revolving credit)           |   |                             | 100.0  |   |
|                                                   |   | $                                | 353.3  |   |

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Item      3.  Quantitative and Qualitative      Disclosures about Market Risk

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| Notional                Amount                  |                                |   | Fair                Value |        | Effective                Date | Expiration                Date |       | Fixed                Rate |   | Floating                Rate |
|-------------------------------------------------|--------------------------------|--------|---------------------------|-------------|-------------------------------|--------------------------------|------------|---------------------------|--------|------------------------------|
|                                            |                           |   |                      |        |                          |                           |       |                      |   |                         |
| $              101,073,374                      |                  (a), (b) |   |                      | (2,942,230  | )                             | 5/10/2006                      | 4/10/2012  |                      |   | 5.06                         | % | 1                Month LIBOR |
| 111,231,348                                     |                  (a), (b) |   |                      | (4,619,027  | )                             | 10/10/2006                     | 10/10/2012 |                      |   | 5.57                         | % | 1                Month LIBOR |
| 36,855,796                                      |                  (a)      |   |                      | (1,662,147  | )                             | 7/10/2006                      | 7/10/2013  |                      |   | 5.67                         | % | 1                Month LIBOR |
| 286,666,667                                     |                  (a)      |   |                      | (18,867,244 | )                             | 8/18/2006                      | 8/10/2018  |                      |   | 5.43                         | % | 1                Month LIBOR |
| 25,000,000                                      |                  (a)      |   |                      | (927,658    | )                             | 2/12/2007                      | 2/10/2014  |                      |   | 5.24                         | % | 1                Month LIBOR |
| 17,000,000                                      |                  (a)      |   |                      | (476,345    | )                             | 3/12/2007                      | 3/10/2014  |                      |   | 4.99                         | % | 1                Month LIBOR |
| 17,000,000                                      |                  (a)      |   |                      | (464,484    | )                             | 3/12/2007                      | 3/10/2014  |                      |   | 4.99                         | % | 1                Month LIBOR |
|                                            |                           |   |                      |        |                          |                           |       |                      |   |                         |   |   |
| (a)                interest rate swap agreement |                           |   |                      |        |                          |                           |       |                      |
| (b)                forward swap                 |                           |   |                      |        |                          |                           |

Controls      and      Procedures

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Item      1.   Legal Proceedings

Information      regarding our legal proceedings can be      found under Note 7 “Contingencies” to the “Notes to Condensed Consolidated      Financial Statements”.

| ·   | require                us to allocate a considerable portion of cash flows from operations                to                debt service payments; |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | limit                our ability to obtain additional financing;                and |
|--------------------|-------------------------------------------------------------------------------------|

| ·   | place                us at a disadvantage compared to our competitors who may have less                debt. |
|--------------------|--------------------------------------------------------------------------------------------------------------|

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Unregistered Sales 

Defaults upon Senior Securities

Submission of Matters to a Vote of Security      Holders

Not      applicable.

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Item      6. Exhibits

| Exhibit                  Number | Description                                                                                                                                                                          | Page                  or Method of Filing                                                                                                                                        |
|---------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 2.1                             | Joint                Plan of Reorganization of AMERCO and AMERCO Real Estate                Company                                                                                  | Incorporated                by reference to Exhibit 99.1 to AMERCO’s Current Report on Form 8-K filed                October 20, 2003, file no. 1-11255                    |
| 2.2                             | Disclosure                Statement Concerning the Debtors’ Joint Plan of                Reorganization                                                                        | Incorporated                by reference to Exhibit 99.2 to AMERCO’s Current Report on Form 8-K filed                October 20, 2003, file no. 1-11255                    |
| 2.3                             | First                Amended Joint Plan of Reorganization of AMERCO and AMERCO Real Estate                Company                                                                    | Incorporated                by reference to Exhibit 2.3 to AMERCO’s Quarterly Report on Form 10-Q for                the quarter ended December 31, 2003, file No. 1-11255 |
| 2.4                             | Disclosure                Statement Concerning the Debtor’s First Amended Joint Plan of                Reorganization                                                          | Incorporated                by reference to Exhibit 2.4 to AMERCO’s Quarterly Report on Form 10-Q for                the quarter ended December 31, 2003, file No. 1-11255 |
| 3.1                             | Restated                Articles of Incorporation of AMERCO                                                                                                                          | Incorporated                by reference to Exhibit 3.1 to AMERCO’s Registration Statement on form S-4                filed March 30, 2004, file number 1-11255            |
| 3.2                             | Restated                By-Laws of AMERCO                                                                                                                                            | Incorporated                by reference to Exhibit 3.1 to AMERCO’s current 8-K filed December 5,                2007, file No. 1-11255                                    |
| 31.1                            | Rule                13a-14(a)/15d-14(a) Certificate of Edward J. Shoen, President and                Chairman                of the Board of AMERCO                                  | Filed                herewith                                                                                                                                                    |
| 31.2                            | Rule                13a-14(a)/15d-14(a) Certificate of Jason A. Berg, Chief Accounting                Officer                of AMERCO                                               | Filed                herewith                                                                                                                                                    |
| 32.1                            | Certificate                of Edward J. Shoen, President and Chairman of the Board of AMERCO                pursuant                to Section 906 of the Sarbanes-Oxley Act of 2002 | Furnished                herewith                                                                                                                                                |
| 32.2                            | Certificate                of Jason A. Berg, Chief Accounting Officer of AMERCO pursuant to                Section                906 of the Sarbanes-Oxley Act of 2002              | Furnished                herewith                                                                                                                                                |

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