|   | 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 September 30, 2010 (unaudited) and March 31, 2010                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | 1             |
|     | b)Condensed Consolidated Statements of Operations for the Quarters ended September 30, 2010 and 2009 (unaudited)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 2             |
|     | c)Condensed Consolidated Statements of Operations for the Six Months ended September 30, 2010 and 2009 (unaudited)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 3             |
|     | d)Condensed Consolidated Statements of Comprehensive Income for the Quarters and the Six Months ended September 30, 2010 and 2009 (unaudited)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | 4             |
|     | e)Condensed Consolidated Statements of Cash Flows for the Six Months ended September 30, 2010 and 2009 (unaudited)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 5             |
|     | f)Notes to Condensed Consolidated Financial Statements (unaudited)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | 6 – 35  |
| Item 2.  | Management’s Discussion and Analysis of Financial Condition and Results of Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | 36 – 53 |
| Item 3.  | Quantitative and Qualitative Disclosures About Market Risk                                                                                                                  | 53 – 54 |
| Item 4.  | Controls and Procedures                                                                                                                                                     | 54            |
|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |          |
|     | PART II OTHER INFORMATION                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |          |
| Item 1.  | Legal Proceedings                                                                                                                                                           | 55            |
| Item 1A. | Risk Factors                                                                                                                                                                | 55            |
| Item 2.  | Unregistered Sales of Equity Securities and Use of Proceeds                                                                                                                 | 55            |
| Item 3.  | Defaults Upon Senior Securities                                                                                                                                             | 55            |
| Item 4.  | (Removed and Reserved)                                                                                                                                                      | 55            |
| Item 5.  | Other Information                                                                                                                                                           | 55            |
| Item 6.  | Exhibits                                                                                                                                                                    | 55 – 56 |

----

CONDENSED

|                                                                                             |   | September 30,  |       |   | March 31, |   |
|--------------------------------------------------------------------------------------------------|--------|----------------|------------|--------|-----------|--------|
|                                                                                             |   | 2010           |       |   | 2010      |   |
|                                                                                             |   | (Unaudited)    |       |   |      |   |
|                                                                                             |   | (In thousands) |       |
| ASSETS                                                                                           |   |           |       |   |      |   |
| Cash and cash equivalents                                                                        |   | $              | 329,830    |   |      | $      | 244,118 |   |
| Reinsurance recoverables and trade receivables, net                                              |   |           | 204,274    |   |      |   | 198,283 |   |
| Notes and mortgage receivables, net                                                              |   |           | 1,344      |   |      |   | 1,461 |   |
| Inventories, net                                                                                 |   |           | 55,659     |   |      |   | 52,837 |   |
| Prepaid expenses                                                                                 |   |           | 48,404     |   |      |   | 53,379 |   |
| Investments, fixed maturities and marketable equities                                            |   |           | 643,351    |   |      |   | 549,318 |   |
| Investments, other                                                                               |   |           | 159,795    |   |      |   | 227,486 |   |
| Deferred policy acquisition costs, net                                                           |   |           | 37,255     |   |      |   | 39,194 |   |
| Other assets                                                                                     |   |           | 145,304    |   |      |   | 145,864 |   |
| Related party assets                                                                             |   |           | 294,733    |   |      |   | 302,126 |   |
|                                                                                             |   |           | 1,919,949  |   |      |   | 1,814,066 |   |
| Property, plant and equipment, at cost:                                                          |   |           |       |   |      |   |   |   |
| Land                                                                                             |   |           | 226,238    |   |      |   | 224,904 |   |
| Buildings and improvements                                                                       |   |           | 1,006,101  |   |      |   | 970,937 |   |
| Furniture and equipment                                                                          |   |           | 330,786    |   |      |   | 323,334 |   |
| Rental trailers and other rental equipment                                                       |   |           | 242,455    |   |      |   | 244,131 |   |
| Rental trucks                                                                                    |   |           | 1,559,732  |   |      |   | 1,529,817 |   |
|                                                                                             |   |           | 3,365,312  |   |      |   | 3,293,123 |   |
| Less: Accumulated depreciation                                                                   |   |           | (1,345,861 | )      |      |   | (1,344,735 | ) |
| Total property, plant and equipment                                                              |   |           | 2,019,451  |   |      |   | 1,948,388 |   |
| Total assets                                                                                     |   | $              | 3,939,400  |   |      | $      | 3,762,454 |   |
| LIABILITIES AND STOCKHOLDERS' EQUITY                                                             |   |           |       |   |      |   |   |   |
| Liabilities:                                                                                     |   |           |       |   |      |   |   |   |
| Accounts payable and accrued expenses                                                            |   | $              | 328,761    |   |      | $      | 296,057 |   |
| Notes, loans and leases payable                                                                  |   |           | 1,278,555  |   |      |   | 1,347,635 |   |
| Policy benefits and losses, claims and loss expenses payable                                     |   |           | 856,001    |   |      |   | 816,909 |   |
| Liabilities from investment contracts                                                            |   |           | 257,275    |   |      |   | 268,810 |   |
| Other policyholders' funds and liabilities                                                       |   |           | 6,624      |   |      |   | 8,155 |   |
| Deferred income                                                                                  |   |           | 27,596     |   |      |   | 25,207 |   |
| Deferred income taxes                                                                            |   |           | 238,674    |   |      |   | 186,770 |   |
| Total liabilities                                                                                |   |           | 2,993,486  |   |      |   | 2,949,543 |   |
|                                                                                             |   |           |       |   |      |   |   |   |
| Commitments and contingencies (notes 4, 8, 9 and 10)                                             |   |           |       |   |      |   |   |   |
| 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;                        |   |           |       |   |      |   |   |   |
| 5,796,000 and 5,992,800 shares issued and outstanding as of September 30 and March 31, 2010      |   |           | -          |   |      |   | - |   |
| Series B preferred stock, with no par value, 100,000 shares authorized; none                     |   |           |       |   |      |   |   |   |
| issued and outstanding as of September 30 and March 31, 2010                                     |   |           | -          |   |      |   | - |   |
| 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 September 30 and March 31, 2010                                |   |           | -          |   |      |   | - |   |
| Common stock of $0.25 par value, 150,000,000 shares authorized; 41,985,700                       |   |           |       |   |      |   |   |   |
| issued as of September 30 and March 31, 2010                                                     |   |           | 10,497     |   |      |   | 10,497 |   |
| Additional paid-in capital                                                                       |   |           | 416,326    |   |      |   | 419,811 |   |
| Accumulated other comprehensive loss                                                             |   |           | (65,604    | )      |      |   | (56,207 | ) |
| Retained earnings                                                                                |   |           | 1,114,310  |   |      |   | 969,017 |   |
| Cost of common shares in treasury, net (22,377,912 shares as of September 30 and March 31, 2010) |   |           | (525,653   | )      |      |   | (525,653 | ) |
| Unearned employee stock ownership plan shares                                                    |   |           | (3,962     | )      |      |   | (4,554 | ) |
| Total stockholders' equity                                                                       |   |           | 945,914    |   |      |   | 812,911 |   |
| Total liabilities and stockholders' equity                                                       |   | $              | 3,939,400  |   |      | $      | 3,762,454 |   |

----

CONDENSED

|                                                                        |   | Quarter Ended September 30,                        |       |
|-----------------------------------------------------------------------------|--------|----------------------------------------------------|------------|
|                                                                        |   | 2010                                               |       |   | 2009 |   |
|                                                                        |   | (Unaudited)                                        |       |
|                                                                        |   | (In thousands, except share and per share amounts) |       |
| Revenues:                                                                   |   |                                               |       |   |   |   |
| Self-moving equipment rentals                                               |   | $                                                  | 467,128    |   |   | $ | 427,203 |   |
| Self-storage revenues                                                       |   |                                               | 30,647     |   |   |   | 27,412 |   |
| Self-moving and self-storage products and service sales                     |   |                                               | 56,821     |   |   |   | 55,522 |   |
| Property management fees                                                    |   |                                               | 4,580      |   |   |   | 4,478 |   |
| Life insurance premiums                                                     |   |                                               | 40,022     |   |   |   | 28,738 |   |
| Property and casualty insurance premiums                                    |   |                                               | 8,300      |   |   |   | 7,046 |   |
| Net investment and interest income                                          |   |                                               | 12,874     |   |   |   | 12,539 |   |
| Other revenue                                                               |   |                                               | 16,604     |   |   |   | 10,986 |   |
| Total revenues                                                              |   |                                               | 636,976    |   |   |   | 573,924 |   |
|                                                                        |   |                                               |       |   |   |   |   |   |
| Costs and expenses:                                                         |   |                                               |       |   |   |   |   |   |
| Operating expenses                                                          |   |                                               | 270,259    |   |   |   | 273,730 |   |
| Commission expenses                                                         |   |                                               | 57,613     |   |   |   | 51,098 |   |
| Cost of sales                                                               |   |                                               | 29,603     |   |   |   | 28,359 |   |
| Benefits and losses                                                         |   |                                               | 37,383     |   |   |   | 25,807 |   |
| Amortization of deferred policy acquisition costs                           |   |                                               | 1,876      |   |   |   | 2,296 |   |
| Lease expense                                                               |   |                                               | 37,964     |   |   |   | 40,026 |   |
| Depreciation, net of (gains) losses on disposals                            |   |                                               | 44,157     |   |   |   | 56,790 |   |
| Total costs and expenses                                                    |   |                                               | 478,855    |   |   |   | 478,106 |   |
|                                                                        |   |                                               |       |   |   |   |   |   |
| Earnings from operations                                                    |   |                                               | 158,121    |   |   |   | 95,818 |   |
| Interest expense                                                            |   |                                               | (21,788    | ) |   |   | (23,938 | ) |
| Pretax earnings                                                             |   |                                               | 136,333    |   |   |   | 71,880 |   |
| Income tax expense                                                          |   |                                               | (51,114    | ) |   |   | (27,189 | ) |
| Net earnings                                                                |   |                                               | 85,219     |   |   |   | 44,691 |   |
| Excess (loss) of carrying amount of preferred stock over consideration paid |   |                                               | (140       | ) |   |   | 48 |   |
| Less: Preferred stock dividends                                             |   |                                               | (3,101     | ) |   |   | (3,212 | ) |
| Earnings available to common shareholders                                   |   | $                                                  | 81,978     |   |   | $ | 41,527 |   |
| Basic and diluted earnings per common share                                 |   | $                                                  | 4.22       |   |   | $ | 2.14 |   |
| Weighted average common shares outstanding: Basic and diluted               |   |                                               | 19,427,595 |   |   |   | 19,382,101 |   |

----

CONDENSED

|                                                                        |   | Six Months Ended September 30,                     |       |
|-----------------------------------------------------------------------------|--------|----------------------------------------------------|------------|
|                                                                        |   | 2010                                               |       |   | 2009 |   |
|                                                                        |   | (Unaudited)                                        |       |
|                                                                        |   | (In thousands, except share and per share amounts) |       |
| Revenues:                                                                   |   |                                               |       |   |   |   |
| Self-moving equipment rentals                                               |   | $                                                  | 886,591    |   |   | $ | 800,144 |   |
| Self-storage revenues                                                       |   |                                               | 58,874     |   |   |   | 54,416 |   |
| Self-moving and self-storage products and service sales                     |   |                                               | 120,111    |   |   |   | 113,344 |   |
| Property management fees                                                    |   |                                               | 9,116      |   |   |   | 8,928 |   |
| Life insurance premiums                                                     |   |                                               | 77,825     |   |   |   | 56,342 |   |
| Property and casualty insurance premiums                                    |   |                                               | 14,479     |   |   |   | 13,261 |   |
| Net investment and interest income                                          |   |                                               | 26,229     |   |   |   | 26,219 |   |
| Other revenue                                                               |   |                                               | 29,698     |   |   |   | 21,929 |   |
| Total revenues                                                              |   |                                               | 1,222,923  |   |   |   | 1,094,583 |   |
|                                                                        |   |                                               |       |   |   |   |   |   |
| Costs and expenses:                                                         |   |                                               |       |   |   |   |   |   |
| Operating expenses                                                          |   |                                               | 523,393    |   |   |   | 532,231 |   |
| Commission expenses                                                         |   |                                               | 109,782    |   |   |   | 95,509 |   |
| Cost of sales                                                               |   |                                               | 61,268     |   |   |   | 58,809 |   |
| Benefits and losses                                                         |   |                                               | 72,805     |   |   |   | 53,501 |   |
| Amortization of deferred policy acquisition costs                           |   |                                               | 4,069      |   |   |   | 4,213 |   |
| Lease expense                                                               |   |                                               | 76,630     |   |   |   | 79,299 |   |
| Depreciation, net of (gains) losses on disposals                            |   |                                               | 88,746     |   |   |   | 116,007 |   |
| Total costs and expenses                                                    |   |                                               | 936,693    |   |   |   | 939,569 |   |
|                                                                        |   |                                               |       |   |   |   |   |   |
| Earnings from operations                                                    |   |                                               | 286,230    |   |   |   | 155,014 |   |
| Interest expense                                                            |   |                                               | (43,252    | ) |   |   | (47,159 | ) |
| Pretax earnings                                                             |   |                                               | 242,978    |   |   |   | 107,855 |   |
| Income tax expense                                                          |   |                                               | (91,257    | ) |   |   | (40,732 | ) |
| Net earnings                                                                |   |                                               | 151,721    |   |   |   | 67,123 |   |
| Excess (loss) of carrying amount of preferred stock over consideration paid |   |                                               | (171       | ) |   |   | 371 |   |
| Less: Preferred stock dividends                                             |   |                                               | (6,257     | ) |   |   | (6,453 | ) |
| Earnings available to common shareholders                                   |   | $                                                  | 145,293    |   |   | $ | 61,041 |   |
| Basic and diluted earnings per common share                                 |   | $                                                  | 7.48       |   |   | $ | 3.15 |   |
| Weighted average common shares outstanding: Basic and diluted               |   |                                               | 19,421,205 |   |   |   | 19,375,846 |   |

----

CONDENSED

| Quarter Ended September 30, 2010         |   | Pre-tax        |    |   | Tax    |   |    | Net    |   |
|------------------------------------------|--------|----------------|---------|--------|--------|--------|---------|--------|--------|
|                                     |   | (Unaudited)    |    |
|                                     |   | (In thousands) |    |
| Comprehensive income:                    |   |           |    |   |   |   |    |   |   |
| Net earnings                             |   | $              | 136,333 |   |   | $      | (51,114 | )      |   | $ | 85,219 |   |
| Other comprehensive income (loss):       |   |           |    |   |   |   |    |   |   |   |   |   |
| Foreign currency translation             |   |           | 2,097   |   |   |   | -       |   |   |   | 2,097 |   |
| Unrealized gain on investments           |   |           | 5,575   |   |   |   | (1,927  | )      |   |   | 3,648 |   |
| Change in fair value of cash flow hedges |   |           | (7,485  | )      |   |   | 2,844   |   |   |   | (4,641 | ) |
| Total comprehensive income               |   | $              | 136,520 |   |   | $      | (50,197 | )      |   | $ | 86,323 |   |

| Quarter Ended September 30, 2009         |   | Pre-tax        |   |   | Tax    |   |    | Net    |   |
|------------------------------------------|--------|----------------|--------|--------|--------|--------|---------|--------|--------|
|                                     |   | (Unaudited)    |   |
|                                     |   | (In thousands) |   |
| Comprehensive income:                    |   |           |   |   |   |   |    |   |   |
| Net earnings                             |   | $              | 71,880 |   |   | $      | (27,189 | )      |   | $ | 44,691 |   |
| Other comprehensive income (loss):       |   |           |   |   |   |   |    |   |   |   |   |   |
| Foreign currency translation             |   |           | 5,674  |   |   |   | -       |   |   |   | 5,674 |   |
| Unrealized gain on investments           |   |           | 12,790 |   |   |   | (4,471  | )      |   |   | 8,319 |   |
| Change in fair value of cash flow hedges |   |           | (5,395 | )      |   |   | 2,050   |   |   |   | (3,345 | ) |
| Total comprehensive income               |   | $              | 84,949 |   |   | $      | (29,610 | )      |   | $ | 55,339 |   |

| Six Months Ended September 30, 2010      |   | Pre-tax        |    |   | Tax    |   |    | Net    |   |
|------------------------------------------|--------|----------------|---------|--------|--------|--------|---------|--------|--------|
|                                     |   | (Unaudited)    |    |
|                                     |   | (In thousands) |    |
| Comprehensive income:                    |   |           |    |   |   |   |    |   |   |
| Net earnings                             |   | $              | 242,978 |   |   | $      | (91,257 | )      |   | $ | 151,721 |   |
| Other comprehensive income (loss):       |   |           |    |   |   |   |    |   |   |   |   |   |
| Foreign currency translation             |   |           | (1,779  | )      |   |   | -       |   |   |   | (1,779 | ) |
| Unrealized gain on investments           |   |           | 6,763   |   |   |   | (2,249  | )      |   |   | 4,514 |   |
| Change in fair value of cash flow hedges |   |           | (19,568 | )      |   |   | 7,436   |   |   |   | (12,132 | ) |
| Total comprehensive income               |   | $              | 228,394 |   |   | $      | (86,070 | )      |   | $ | 142,324 |   |

| Six Months Ended September 30, 2009      |   | Pre-tax        |    |   | Tax    |   |    | Net    |   |
|------------------------------------------|--------|----------------|---------|--------|--------|--------|---------|--------|--------|
|                                     |   | (Unaudited)    |    |
|                                     |   | (In thousands) |    |
| Comprehensive income:                    |   |           |    |   |   |   |    |   |   |
| Net earnings                             |   | $              | 107,855 |   |   | $      | (40,732 | )      |   | $ | 67,123 |   |
| Other comprehensive income (loss):       |   |           |    |   |   |   |    |   |   |   |   |   |
| Foreign currency translation             |   |           | 9,903   |   |   |   | -       |   |   |   | 9,903 |   |
| Unrealized gain on investments           |   |           | 7,608   |   |   |   | (2,662  | )      |   |   | 4,946 |   |
| Change in fair value of cash flow hedges |   |           | 16,974  |   |   |   | (6,450  | )      |   |   | 10,524 |   |
| Total comprehensive income               |   | $              | 142,340 |   |   | $      | (49,844 | )      |   | $ | 92,496 |   |

----

CONDENSED

|                                                                        |   | Six Months Ended September 30, |     |
|-----------------------------------------------------------------------------|--------|--------------------------------|----------|
|                                                                        |   | 2010                           |     |   | 2009 |   |
|                                                                        |   | (Unaudited)                    |     |
|                                                                        |   | (In thousands)                 |     |
|  Cash flow from operating activities:                                  |   |                           |     |   |   |   |
|  Net earnings                                                          |   | $                              | 151,721  |   |   | $ | 67,123 |   |
|  Adjustments to reconcile net earnings to cash provided by operations: |   |                           |     |   |   |   |   |   |
|  Depreciation                                                          |   |                           | 106,055  |   |   |   | 117,779 |   |
|  Amortization of deferred policy acquisition costs                     |   |                           | 4,069    |   |   |   | 4,213 |   |
|  Change in allowance for losses on trade receivables                   |   |                           | (24      | ) |   |   | 397 |   |
|  Change in allowance for losses on mortgage notes                      |   |                           | -        |   |   |   | (6 | ) |
|  Change in allowance for inventory reserves                            |   |                           | 840      |   |   |   | 1,344 |   |
|  Net gain on sale of real and personal property                        |   |                           | (17,309  | ) |   |   | (1,772 | ) |
|  Net gain on sale of investments                                       |   |                           | (1,329   | ) |   |   | (401 | ) |
|  Deferred income taxes                                                 |   |                           | 57,091   |   |   |   | 40,431 |   |
|  Net change in other operating assets and liabilities:                 |   |                           |     |   |   |   |   |   |
| Reinsurance recoverables and trade receivables                              |   |                           | (5,969   | ) |   |   | 11,917 |   |
| Inventories                                                                 |   |                           | (3,662   | ) |   |   | 7,334 |   |
| Prepaid expenses                                                            |   |                           | 4,975    |   |   |   | (2,928 | ) |
| Capitalization of deferred policy acquisition costs                         |   |                           | (7,377   | ) |   |   | (6,533 | ) |
| Other assets                                                                |   |                           | 649      |   |   |   | 6,998 |   |
| Related party assets                                                        |   |                           | 6,710    |   |   |   | 7,481 |   |
| Accounts payable and accrued expenses                                       |   |                           | 20,102   |   |   |   | (5,893 | ) |
| Policy benefits and losses, claims and loss expenses payable                |   |                           | 39,452   |   |   |   | 11,991 |   |
| Other policyholders' funds and liabilities                                  |   |                           | (1,531   | ) |   |   | (3,311 | ) |
| Deferred income                                                             |   |                           | 2,399    |   |   |   | (1,946 | ) |
| Related party liabilities                                                   |   |                           | 693      |   |   |   | (551 | ) |
|  Net cash provided by operating activities                             |   |                           | 357,555  |   |   |   | 253,667 |   |
|                                                                        |   |                           |     |   |   |   |   |   |
|  Cash flows from investing activities:                                 |   |                           |     |   |   |   |   |   |
|  Purchases of:                                                         |   |                           |     |   |   |   |   |   |
| Property, plant and equipment                                               |   |                           | (274,240 | ) |   |   | (175,827 | ) |
| Short term investments                                                      |   |                           | (109,785 | ) |   |   | (144,306 | ) |
| Fixed maturities investments                                                |   |                           | (122,504 | ) |   |   | (77,106 | ) |
| Equity securities                                                           |   |                           | (9,043   | ) |   |   | - |   |
| Preferred stock                                                             |   |                           | (11,902  | ) |   |   | - |   |
| Real estate                                                                 |   |                           | (1,784   | ) |   |   | (466 | ) |
| Mortgage loans                                                              |   |                           | (1,308   | ) |   |   | (525 | ) |
|  Proceeds from sale of:                                                |   |                           |     |   |   |   |   |   |
| Property, plant and equipment                                               |   |                           | 122,157  |   |   |   | 88,942 |   |
| Short term investments                                                      |   |                           | 178,461  |   |   |   | 159,307 |   |
| Fixed maturities investments                                                |   |                           | 56,841   |   |   |   | 83,667 |   |
| Equity securities                                                           |   |                           | 133      |   |   |   | - |   |
| Preferred stock                                                             |   |                           | -        |   |   |   | 2,236 |   |
| Real estate                                                                 |   |                           | 683      |   |   |   | - |   |
| Mortgage loans                                                              |   |                           | 1,421    |   |   |   | 4,053 |   |
| Payments from notes and mortgage receivables                                |   |                           | 117      |   |   |   | 464 |   |
|  Net cash used by investing activities                                 |   |                           | (170,753 | ) |   |   | (59,561 | ) |
|                                                                        |   |                           |     |   |   |   |   |   |
|  Cash flows from financing activities:                                 |   |                           |     |   |   |   |   |   |
| Borrowings from credit facilities                                           |   |                           | 134,556  |   |   |   | 51,921 |   |
| Principal repayments on credit facilities                                   |   |                           | (209,420 | ) |   |   | (72,695 | ) |
| Debt issuance costs                                                         |   |                           | (89      | ) |   |   | (277 | ) |
| Capital lease payments                                                      |   |                           | (8,369   | ) |   |   | (1,168 | ) |
| Leveraged Employee Stock Ownership Plan - repayments from loan              |   |                           | 592      |   |   |   | 533 |   |
| Preferred stock dividends paid                                              |   |                           | (6,257   | ) |   |   | (6,453 | ) |
| Investment contract deposits                                                |   |                           | 5,875    |   |   |   | 5,564 |   |
| Investment contract withdrawals                                             |   |                           | (17,409  | ) |   |   | (28,417 | ) |
|  Net cash used by financing activities                                 |   |                           | (100,521 | ) |   |   | (50,992 | ) |
|                                                                        |   |                           |     |   |   |   |   |   |
|  Effects of exchange rate on cash                                      |   |                           | (569     | ) |   |   | 1,250 |   |
|                                                                        |   |                           |     |   |   |   |   |   |
|  Increase in cash and cash equivalents                                 |   |                           | 85,712   |   |   |   | 144,364 |   |
|  Cash and cash equivalents at the beginning of period                  |   |                           | 244,118  |   |   |   | 240,587 |   |
|  Cash and cash equivalents at the end of period                        |   | $                              | 329,830  |   |   | $ | 384,951 |   |

----

NOTES 

----

|                                                 |   | AmortizedCost  |    |   | GrossUnrealizedGains |   |   | GrossUnrealizedLosses More than 12 Months |   |   | GrossUnrealizedLosses Less than 12 Months |   |   | EstimatedMarketValue |   |
|------------------------------------------------------|--------|----------------|---------|--------|----------------------|--------|--------|-------------------------------------------|--------|--------|-------------------------------------------|--------|--------|----------------------|--------|
|                                                 |   | (Unaudited)    |    |
|                                                 |   | (In thousands) |    |
| U.S. treasury securities and government obligations  |   | $              | 66,389  |   |                 | $      | 2,947  |                                      |   | $      | (47                                       | )      |   | $                    | -      |   |   | $ | 69,289 |   |
| U.S. government agency mortgage-backed securities    |   |           | 79,258  |   |                 |   | 6,935  |                                      |   |   | (3                                        | )      |   |                 | (11    | ) |   |   | 86,179 |   |
| Obligations of states and political subdivisions     |   |           | 27,389  |   |                 |   | 580    |                                      |   |   | (988                                      | )      |   |                 | (942   | ) |   |   | 26,039 |   |
| Corporate securities                                 |   |           | 386,103 |   |                 |   | 24,477 |                                      |   |   | (924                                      | )      |   |                 | (792   | ) |   |   | 408,864 |   |
| Mortgage-backed securities                           |   |           | 8,064   |   |                 |   | 280    |                                      |   |   | (304                                      | )      |   |                 | -      |   |   |   | 8,040 |   |
| Redeemable preferred stocks                          |   |           | 30,626  |   |                 |   | 1,139  |                                      |   |   | (1,924                                    | )      |   |                 | (191   | ) |   |   | 29,650 |   |
| Common stocks                                        |   |           | 27,290  |   |                 |   | 2,204  |                                      |   |   | -                                         |   |   |                 | (6,634 | ) |   |   | 22,860 |   |
| Less: Preferred stock of AMERCO held by subsidiaries |   |           | (7,079  | )      |                 |   | (491   | )                                         |   |   | -                                         |   |   |                 | -      |   |   |   | (7,570 | ) |
|                                                 |   | $              | 618,040 |   |                 | $      | 38,071 |                                      |   | $      | (4,190                                    | )      |   | $                    | (8,570 | ) |   | $ | 643,351 |   |

----

|                                                      |   | Credit Loss    |   |
|-----------------------------------------------------------|--------|----------------|--------|
|                                                      |   | (Unaudited)    |   |
|                                                      |   | (In thousands) |   |
| Balance at March 31, 2010                                 |   | $              | 552    |   |
| Additions:                                                |   |           |   |   |
| Other-than-temporary impairment not previously recognized |   |           | -      |   |
| Balance at June 30, 2010                                  |   | $              | 552    |   |
| Additions:                                                |   |           |   |   |
| Other-than-temporary impairment not previously recognized |   |           | -      |   |
| Balance at September 30, 2010                             |   | $              | 552    |   |

----

|                                                 |   | AmortizedCost  |    |   | EstimatedMarketValue |   |
|------------------------------------------------------|--------|----------------|---------|--------|----------------------|--------|
|                                                 |   | (Unaudited)    |    |
|                                                 |   | (In thousands) |    |
| Due in one year or less                              |   | $              | 42,570  |   |                 | $      | 43,308 |   |
| Due after one year through five years                |   |           | 177,498 |   |                 |   | 185,834 |   |
| Due after five years through ten years               |   |           | 125,538 |   |                 |   | 133,933 |   |
| Due after ten years                                  |   |           | 213,533 |   |                 |   | 227,296 |   |
|                                                 |   |           | 559,139 |   |                 |   | 590,371 |   |
|                                                 |   |           |    |   |                 |   |   |   |
| Mortgage backed securities                           |   |           | 8,064   |   |                 |   | 8,040 |   |
| Redeemable preferred stocks                          |   |           | 30,626  |   |                 |   | 29,650 |   |
| Equity securities                                    |   |           | 27,290  |   |                 |   | 22,860 |   |
| Less: Preferred stock of AMERCO held by subsidiaries |   |           | (7,079  | )      |                 |   | (7,570 | ) |
|                                                 |   | $              | 618,040 |   |                 | $      | 643,351 |   |

|                                                                                                |   |          |         |   |       |   |        | September 30,  |   |   | March 31, |   |
|-----------------------------------------------------------------------------------------------------|--------|---------------|--------------|--------|------------|--------|-------------|----------------|--------|--------|-----------|--------|
|                                                                                                |   | 2011 Rate (a) |         |   | Maturities |   |        | 2010           |   |   | 2010      |   |
|                                                                                                |   |          |         |   |       |   |        | (Unaudited)    |   |   |      |   |
|                                                                                                |   |          |         |   |       |   |        | (In thousands) |   |
| Real estate loan (amortizing term)                                                                  |   |          | 6.93         | %      |       |   | 2018        |           |   | $      | 260,000   |   |   | $ | 265,000 |   |
| Real estate loan (revolving credit)                                                                 |   |          | -            |   |       |   | 2018        |           |   |   | -         |   |   |   | 86,000 |   |
| Real estate loan (amortizing term)                                                                  |   |          | 5.00         | %      |       |   | 2011        |           |   |   | 11,420    |   |   |   | 31,865 |   |
| Senior mortgages                                                                                    |   |          | 5.47% - 6.13 | %      |       |   | 2015 - 2016 |           |   |   | 482,823   |   |   |   | 489,186 |   |
| Working capital loan (revolving credit)                                                             |   |          | -            |   |       |   | 2011        |           |   |   | -         |   |   |   | 15,000 |   |
| Fleet loans (amortizing term)                                                                       |   |          | 4.78% - 7.95 | %      |       |   | 2012 - 2017 |           |   |   | 345,810   |   |   |   | 276,222 |   |
| Fleet loans (securitization)                                                                        |   |          | 5.56         | %      |       |   | 2014        |           |   |   | 127,267   |   |   |   | 143,170 |   |
| Other obligations                                                                                   |   |          | 3.25% - 9.50 | %      |       |   | 2011 - 2017 |           |   |   | 51,235    |   |   |   | 41,192 |   |
| Total notes, loans and leases payable                                                               |   |          |         |   |       |   |        |           |   | $      | 1,278,555 |   |   | $ | 1,347,635 |   |
|                                                                                                |   |          |         |   |       |   |        |           |   |   |      |   |   |   |   |   |
| (a) Interest rate as of September 30, 2010, including the effect of applicable hedging instruments. |   |          |         |   |       |

----

----

----

|                                     |   | Year Ending September 30, |   |
|------------------------------------------|--------|---------------------------|--------|
|                                     |   | 2011                      |   |   | 2012 |   |   | 2013 |   |   | 2014 |   |   | 2015 |   |   | Thereafter |   |
|                                     |   | (Unaudited)               |   |
|                                     |   | (In thousands)            |   |
| Notes, loans and leases payable, secured |   | $                         | 98,380 |   |   | $ | 162,003 |   |   | $ | 161,140 |   |   | $ | 147,804 |   |   | $ | 450,220 |   |   | $ | 259,008 |   |

|                                        |   | Quarter Ended September 30, |   |
|---------------------------------------------|--------|-----------------------------|--------|
|                                        |   | 2010                        |   |   | 2009 |   |
|                                        |   | (Unaudited)                 |   |
|                                        |   | (In thousands)              |   |
| Interest expense                            |   | $                           | 14,586 |   |   | $ | 16,217 |   |
| Capitalized interest                        |   |                        | (122   | ) |   |   | (142 | ) |
| Amortization of transaction costs           |   |                        | 1,049  |   |   |   | 1,224 |   |
| Interest expense resulting from derivatives |   |                        | 6,275  |   |   |   | 6,639 |   |
| Total interest expense                      |   | $                           | 21,788 |   |   | $ | 23,938 |   |

|                                        |   | Six Months Ended September 30, |   |
|---------------------------------------------|--------|--------------------------------|--------|
|                                        |   | 2010                           |   |   | 2009 |   |
|                                        |   | (Unaudited)                    |   |
|                                        |   | (In thousands)                 |   |
| Interest expense                            |   | $                              | 29,011 |   |   | $ | 32,276 |   |
| Capitalized interest                        |   |                           | (269   | ) |   |   | (293 | ) |
| Amortization of transaction costs           |   |                           | 2,154  |   |   |   | 2,409 |   |
| Interest expense resulting from derivatives |   |                           | 12,356 |   |   |   | 12,767 |   |
| Total interest expense                      |   | $                              | 43,252 |   |   | $ | 47,159 |   |

----

| Original variable rate debt amount |   | Agreement Date |     | Effective Date |       | Expiration Date |       | Designated cash flow hedge date |
|------------------------------------|--------|----------------|----------|----------------|------------|-----------------|------------|---------------------------------|
| (Unaudited)                        |
| (In millions)                      |
| $                                  | 142.3  |           | (a), (b) |           | 11/15/2005 |            | 5/10/2006  |                            | 4/10/2012 |   | 5/31/2006 |
|                               | 50.0   |           | (a)      |           | 6/21/2006  |            | 7/10/2006  |                            | 7/10/2013 |   | 6/9/2006 |
|                               | 144.9  |           | (a), (b) |           | 6/9/2006   |            | 10/10/2006 |                            | 10/10/2012 |   | 6/9/2006 |
|                               | 300.0  |           | (a)      |           | 8/16/2006  |            | 8/18/2006  |                            | 8/10/2018 |   | 8/4/2006 |
|                               | 30.0   |           | (a)      |           | 2/9/2007   |            | 2/12/2007  |                            | 2/10/2014 |   | 2/9/2007 |
|                               | 20.0   |           | (a)      |           | 3/8/2007   |            | 3/12/2007  |                            | 3/10/2014 |   | 3/8/2007 |
|                               | 20.0   |           | (a)      |           | 3/8/2007   |            | 3/12/2007  |                            | 3/10/2014 |   | 3/8/2007 |
|                               | 19.3   |           | (a), (b) |           | 4/8/2008   |            | 8/15/2008  |                            | 6/15/2015 |   | 3/31/2008 |
|                               | 19.0   |           | (a)      |           | 8/27/2008  |            | 8/29/2008  |                            | 7/10/2015 |   | 4/10/2008 |
|                               | 30.0   |           | (a)      |           | 9/24/2008  |            | 9/30/2008  |                            | 9/10/2015 |   | 9/24/2008 |
|                               | 15.0   |           | (a), (b) |           | 3/24/2009  |            | 3/30/2009  |                            | 4/15/2016 |   | 3/25/2009 |
|                               | 14.7   |           | (a)      |           | 7/6/2010   |            | 8/15/2010  |                            | 7/15/2017 |   | 7/6/2010 |
|                               |   |           |     |           |       |            |       |                            |   |   |   |
| (a) interest rate swap agreement   |   |           |     |           |       |            |
| (b) forward swap                   |   |           |     |           |       |            |

|                                                      |   | Liability Derivatives Fair Value as of |   |
|-----------------------------------------------------------|--------|----------------------------------------|--------|
|                                                      |   | September 30, 2010                     |   |   | March 31, 2010 |   |
|                                                      |   | (Unaudited)                            |   |   |   |   |
|                                                      |   | (In thousands)                         |   |
| Interest rate contracts designated as hedging instruments |   | $                                      | 73,654 |   |   | $ | 54,239 |   |

|                                                                                                                             |   | The Effect of Interest Rate Contracts on the Statements of Operations |   |
|----------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------------------------------------------------|--------|
|                                                                                                                             |   | September 30, 2010                                                    |   |   | September 30, 2009 |   |
|                                                                                                                             |   | (Unaudited)                                                           |   |
|                                                                                                                             |   | (In thousands)                                                        |   |
| Loss recognized in income on interest rate contracts                                                                             |   | $                                                                     | 12,356 |   |   | $ | 12,767 |   |
| (Gain) loss recognized in AOCI on interest rate contracts (effective portion)                                                    |   | $                                                                     | 19,568 |   |   | $ | (16,973 | ) |
| Loss reclassified from AOCI into income (effective portion)                                                                      |   | $                                                                     | 12,509 |   |   | $ | 13,602 |   |
| (Gain) loss recognized in income on interest rate contracts (ineffective portion and amount excluded from effectiveness testing) |   | $                                                                     | (153   | ) |   | $ | (835 | ) |

----

|                                              |   | Revolving Credit Activity             |   |
|---------------------------------------------------|--------|---------------------------------------|--------|
|                                              |   | Quarter Ended September 30,           |   |
|                                              |   | 2010                                  |   |   | 2009 |   |
|                                              |   | (Unaudited)                           |   |
|                                              |   | (In thousands, except interest rates) |   |
| Weighted average interest rate during the quarter |   |                                  | 1.82   | % |   |   | 1.78 | % |
| Interest rate at the end of the quarter           |   |                                  | -      |   |   |   | 1.75 | % |
| Maximum amount outstanding during the quarter     |   | $                                     | 75,000 |   |   | $ | 195,000 |   |
| Average amount outstanding during the quarter     |   | $                                     | 33,804 |   |   | $ | 186,033 |   |
| Facility fees                                     |   | $                                     | 57     |   |   | $ | 238 |   |

|                                                       |   | Revolving Credit Activity             |    |
|------------------------------------------------------------|--------|---------------------------------------|---------|
|                                                       |   | Six Months Ended September 30,        |    |
|                                                       |   | 2010                                  |    |   | 2009 |   |
|                                                       |   | (Unaudited)                           |    |
|                                                       |   | (In thousands, except interest rates) |    |
| Weighted average interest rate during the first six months |   |                                  | 1.81    | % |   |   | 1.84 | % |
| Interest rate at the end of the first six months           |   |                                  | -       |   |   |   | 1.75 | % |
| Maximum amount outstanding during the first six months     |   | $                                     | 111,000 |   |   | $ | 207,280 |   |
| Average amount outstanding during the first six months     |   | $                                     | 59,585  |   |   | $ | 195,580 |   |
| Facility fees                                              |   | $                                     | 113     |   |   | $ | 480 |   |

----

|                                     |   | Foreign Currency Translation |    |   | Unrealized Gain on Investments |   |   | Fair Market Value of Cash Flow Hedges |   |   | Postretirement Benefit Obligation Gain |   |   | Accumulated Other Comprehensive Income (Loss) |   |
|------------------------------------------|--------|------------------------------|---------|--------|--------------------------------|--------|--------|---------------------------------------|--------|--------|----------------------------------------|--------|--------|-----------------------------------------------|--------|
|                                     |   | (Unaudited)                  |    |
|                                     |   | (In thousands)               |    |
| Balance at March 31, 2010                |   | $                            | (29,142 | )      |                           | $      | 5,931  |                                  |   | $      | (33,933                                | )      |   | $                                             | 937    |   |   | $ | (56,207 | ) |
| Foreign currency translation             |   |                         | (1,779  | )      |                           |   | -      |                                  |   |   | -                                      |   |   |                                          | -      |   |   |   | (1,779 | ) |
| Unrealized gain on investments           |   |                         | -       |   |                           |   | 4,514  |                                  |   |   | -                                      |   |   |                                          | -      |   |   |   | 4,514 |   |
| Change in fair value of cash flow hedges |   |                         | -       |   |                           |   | -      |                                  |   |   | (12,132                                | )      |   |                                          | -      |   |   |   | (12,132 | ) |
| Balance at September 30, 2010            |   | $                            | (30,921 | )      |                           | $      | 10,445 |                                  |   | $      | (46,065                                | )      |   | $                                             | 937    |   |   | $ | (65,604 | ) |

|                     |   | Property,Plant andEquipment |   |   | RentalEquipment |   |    | Total  |   |
|--------------------------|--------|-----------------------------|--------|--------|-----------------|--------|---------|--------|--------|
|                     |   | (Unaudited)                 |   |
|                     |   |                        |   |   | (In thousands)  |   |    |   |   |
| Year-ended September 30: |   |                        |   |   |            |   |    |   |   |
| 2011                     |   | $                           | 14,800 |   |            | $      | 113,164 |   |   | $ | 127,964 |   |
| 2012                     |   |                        | 14,066 |   |            |   | 99,791  |   |   |   | 113,857 |   |
| 2013                     |   |                        | 13,359 |   |            |   | 80,128  |   |   |   | 93,487 |   |
| 2014                     |   |                        | 8,820  |   |            |   | 60,881  |   |   |   | 69,701 |   |
| 2015                     |   |                        | 669    |   |            |   | 37,413  |   |   |   | 38,082 |   |
| Thereafter               |   |                        | 5,672  |   |            |   | 8,862   |   |   |   | 14,534 |   |
| Total                    |   | $                           | 57,386 |   |            | $      | 400,239 |   |   | $ | 457,625 |   |

----

----

----

----

|                                                     |   | September 30,  |    |   | March 31, |   |
|----------------------------------------------------------|--------|----------------|---------|--------|-----------|--------|
|                                                     |   | 2010           |    |   | 2010      |   |
|                                                     |   | (Unaudited)    |    |   |      |   |
|                                                     |   | (In thousands) |    |
| U-Haul notes, receivables and interest from Private Mini |   | $              | 69,407  |   |      | $      | 69,867 |   |
| U-Haul notes receivable from SAC Holdings                |   |           | 196,575 |   |      |   | 196,903 |   |
| U-Haul interest receivable from SAC Holdings             |   |           | 14,559  |   |      |   | 13,775 |   |
| U-Haul receivable from SAC Holdings                      |   |           | 11,224  |   |      |   | 15,780 |   |
| U-Haul receivable from Mercury                           |   |           | 2,607   |   |      |   | 6,138 |   |
| Other (a)                                                |   |           | 361     |   |      |   | (337 | ) |
|                                                     |   | $              | 294,733 |   |      | $      | 302,126 |   |

| ·   | Moving and Storage, comprised of AMERCO, U-Haul, and Real Estate and the subsidiaries of U-Haul and Real Estate, |
|--------------------|------------------------------------------------------------------------------------------------------------------|

| ·   | Property and Casualty Insurance, comprised of RepWest and its subsidiaries and ARCOA, and |
|--------------------|-------------------------------------------------------------------------------------------|

| ·   | Life Insurance, comprised of Oxford and its subsidiaries. |
|--------------------|-----------------------------------------------------------|

----

|                                                  |   | 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                             |   | $                    | 184,013   |   |   | $                        | 102,102 |   |   | $ | 750 |   |   | $ | - |   |   |   | $ | 286,865 |   |   | $ | 29,108 |   |   | $ | 13,857 |   |   | $ | - |   |   |   | $ | 329,830 |   |
| Reinsurance recoverables and trade receivables, net   |   |                 | -         |   |   |                     | 20,229 |   |   |   | - |   |   |   | - |   |   |   |   | 20,229 |   |   |   | 171,711 |   |   |   | 12,334 |   |   |   | - |   |   |   |   | 204,274 |   |
| Notes and mortgage receivables, net                   |   |                 | -         |   |   |                     | 335 |   |   |   | 1,009 |   |   |   | - |   |   |   |   | 1,344 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 1,344 |   |
| Inventories, net                                      |   |                 | -         |   |   |                     | 55,659 |   |   |   | - |   |   |   | - |   |   |   |   | 55,659 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 55,659 |   |
| Prepaid expenses                                      |   |                 | -         |   |   |                     | 47,787 |   |   |   | 617 |   |   |   | - |   |   |   |   | 48,404 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 48,404 |   |
| Investments, fixed maturities and marketable equities |   |                 | 20,032    |   |   |                     | - |   |   |   | - |   |   |   | - |   |   |   |   | 20,032 |   |   |   | 129,416 |   |   |   | 501,473 |   |   |   | (7,570 | ) | (d) |   |   | 643,351 |   |
| Investments, other                                    |   |                 | -         |   |   |                     | 2,016 |   |   |   | 14,637 |   |   |   | - |   |   |   |   | 16,653 |   |   |   | 71,840 |   |   |   | 71,302 |   |   |   | - |   |   |   |   | 159,795 |   |
| Deferred policy acquisition costs, net                |   |                 | -         |   |   |                     | - |   |   |   | - |   |   |   | - |   |   |   |   | - |   |   |   | - |   |   |   | 37,255 |   |   |   | - |   |   |   |   | 37,255 |   |
| Other assets                                          |   |                 | 37,798    |   |   |                     | 79,963 |   |   |   | 26,635 |   |   |   | - |   |   |   |   | 144,396 |   |   |   | 598 |   |   |   | 310 |   |   |   | - |   |   |   |   | 145,304 |   |
| Related party assets                                  |   |                 | 1,149,010 |   |   |                     | 239,447 |   |   |   | 43 |   |   |   | (1,092,184 | ) | (c) |   |   | 296,316 |   |   |   | 3,564 |   |   |   | - |   |   |   | (5,147 | ) | (c) |   |   | 294,733 |   |
|                                                  |   |                 | 1,390,853 |   |   |                     | 547,538 |   |   |   | 43,691 |   |   |   | (1,092,184 | ) |   |   |   | 889,898 |   |   |   | 406,237 |   |   |   | 636,531 |   |   |   | (12,717 | ) |   |   |   | 1,919,949 |   |
|                                                  |   |                 |      |   |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Investment in subsidiaries                            |   |                 | (159,389  | )      |   |                     | - |   |   |   | - |   |   |   | 497,926 |   | (b) |   |   | 338,537 |   |   |   | - |   |   |   | - |   |   |   | (338,537 | ) | (b) |   |   | - |   |
|                                                  |   |                 |      |   |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Property, plant and equipment, at cost:               |   |                 |      |   |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Land                                                  |   |                 | -         |   |   |                     | 44,696 |   |   |   | 181,542 |   |   |   | - |   |   |   |   | 226,238 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 226,238 |   |
| Buildings and improvements                            |   |                 | 1         |   |   |                     | 171,011 |   |   |   | 835,089 |   |   |   | - |   |   |   |   | 1,006,101 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 1,006,101 |   |
| Furniture and equipment                               |   |                 | 245       |   |   |                     | 312,351 |   |   |   | 18,190 |   |   |   | - |   |   |   |   | 330,786 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 330,786 |   |
| Rental trailers and other rental equipment            |   |                 | -         |   |   |                     | 242,455 |   |   |   | - |   |   |   | - |   |   |   |   | 242,455 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 242,455 |   |
| Rental trucks                                         |   |                 | -         |   |   |                     | 1,559,732 |   |   |   | - |   |   |   | - |   |   |   |   | 1,559,732 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 1,559,732 |   |
|                                                  |   |                 | 246       |   |   |                     | 2,330,245 |   |   |   | 1,034,821 |   |   |   | - |   |   |   |   | 3,365,312 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 3,365,312 |   |
| Less:  Accumulated depreciation             |   |                 | (218      | )      |   |                     | (1,007,381 | ) |   |   | (338,262 | ) |   |   | - |   |   |   |   | (1,345,861 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | (1,345,861 | ) |
| Total property, plant and equipment                   |   |                 | 28        |   |   |                     | 1,322,864 |   |   |   | 696,559 |   |   |   | - |   |   |   |   | 2,019,451 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 2,019,451 |   |
| Total assets                                          |   | $                    | 1,231,492 |   |   | $                        | 1,870,402 |   |   | $ | 740,250 |   |   | $ | (594,258 | ) |   |   | $ | 3,247,886 |   |   | $ | 406,237 |   |   | $ | 636,531 |   |   | $ | (351,254 | ) |   |   | $ | 3,939,400 |   |
|                                                  |   |                 |      |   |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (a) Balances as of June 30, 2010                      |   |                 |      |   |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (b) Eliminate investment in subsidiaries              |   |                 |      |   |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (c) Eliminate intercompany receivables and payables   |   |                 |      |   |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (d) Eliminate intercompany preferred stock investment |   |                 |      |   |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

|                                                         |   | 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                        |   | $                    | 8,466     |   |   | $                        | 310,965   |   |   | $ | 4,157 |   |   | $ | - |   |   |   | $ | 323,588 |   |   | $ | - |   |   | $ | 5,173 |   |   | $ | - |   |   |   |   | $ | 328,761 |   |
| Notes, loans and leases payable                              |   |                 | -         |   |   |                     | 563,282   |   |   |   | 715,273 |   |   |   | - |   |   |   |   | 1,278,555 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   | 1,278,555 |   |
| Policy benefits and losses, claims and loss expenses payable |   |                 | -         |   |   |                     | 396,298   |   |   |   | - |   |   |   | - |   |   |   |   | 396,298 |   |   |   | 275,310 |   |   |   | 184,393 |   |   |   | - |   |   |   |   |   | 856,001 |   |
| Liabilities from investment contracts                        |   |                 | -         |   |   |                     | -         |   |   |   | - |   |   |   | - |   |   |   |   | - |   |   |   | - |   |   |   | 257,275 |   |   |   | - |   |   |   |   |   | 257,275 |   |
| Other policyholders' funds and liabilities                   |   |                 | -         |   |   |                     | -         |   |   |   | - |   |   |   | - |   |   |   |   | - |   |   |   | 4,656 |   |   |   | 1,968 |   |   |   | - |   |   |   |   |   | 6,624 |   |
| Deferred income                                              |   |                 | -         |   |   |                     | 27,596    |   |   |   | - |   |   |   | - |   |   |   |   | 27,596 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   | 27,596 |   |
| Deferred income taxes                                        |   |                 | 265,752   |   |   |                     | -         |   |   |   | - |   |   |   | - |   |   |   |   | 265,752 |   |   |   | (31,227 | ) |   |   | 4,321 |   |   |   | (172 | ) | (d) |   |   |   | 238,674 |   |
| Related party liabilities                                    |   |                 | -         |   |   |                     | 917,793   |   |   |   | 177,176 |   |   |   | (1,092,184 | ) | (c) |   |   | 2,785 |   |   |   | 2,256 |   |   |   | 106 |   |   |   | (5,147 | ) | (c) |   |   |   | - |   |
| Total liabilities                                            |   |                 | 274,218   |   |   |                     | 2,215,934 |   |   |   | 896,606 |   |   |   | (1,092,184 | ) |   |   |   | 2,294,574 |   |   |   | 250,995 |   |   |   | 453,236 |   |   |   | (5,319 | ) |   |   |   |   | 2,993,486 |   |
|                                                         |   |                 |      |   |   |                     |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| 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 |   |   |   | 3,301 |   |   |   | 2,500 |   |   |   | (5,801 | ) | (b) |   |   |   | 10,497 |   |
| Additional paid-in capital                                   |   |                 | 423,622   |   |   |                     | 121,230   |   |   |   | 147,941 |   |   |   | (269,171 | ) | (b) |   |   | 423,622 |   |   |   | 89,620 |   |   |   | 26,271 |   |   |   | (123,187 | ) |  (b,d | ) |   |   | 416,326 |   |
| Accumulated other comprehensive income (loss)                |   |                 | (65,285   | )      |   |                     | (76,049   | ) |   |   | - |   |   |   | 76,049 |   | (b) |   |   | (65,285 | ) |   |   | 1,594 |   |   |   | 11,315 |   |   |   | (13,228 | ) |  (b,d | ) |   |   | (65,604 | ) |
| Retained earnings (deficit)                                  |   |                 | 1,114,093 |   |   |                     | (387,291  | ) |   |   | (304,298 | ) |   |   | 691,589 |   | (b) |   |   | 1,114,093 |   |   |   | 60,727 |   |   |   | 143,209 |   |   |   | (203,719 | ) |  (b,d | ) |   |   | 1,114,310 |   |
| Cost of common shares in treasury, net                       |   |                 | (525,653  | )      |   |                     | -         |   |   |   | - |   |   |   | - |   |   |   |   | (525,653 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   | (525,653 | ) |
| Unearned employee stock ownership plan shares                |   |                 | -         |   |   |                     | (3,962    | ) |   |   | - |   |   |   | - |   |   |   |   | (3,962 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   | (3,962 | ) |
| Total stockholders' equity (deficit)                         |   |                 | 957,274   |   |   |                     | (345,532  | ) |   |   | (156,356 | ) |   |   | 497,926 |   |   |   |   | 953,312 |   |   |   | 155,242 |   |   |   | 183,295 |   |   |   | (345,935 | ) |   |   |   |   |   | 945,914 |   |
| Total liabilities and stockholders' equity                   |   | $                    | 1,231,492 |   |   | $                        | 1,870,402 |   |   | $ | 740,250 |   |   | $ | (594,258 | ) |   |   | $ | 3,247,886 |   |   | $ | 406,237 |   |   | $ | 636,531 |   |   | $ | (351,254 | ) |   |   |   |   | $ | 3,939,400 |   |
|                                                         |   |                 |      |   |   |                     |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                         |   |                 |      |   |   |                     |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (a) Balances as of June 30, 2010                             |   |                 |      |   |   |                     |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (b) Eliminate investment in subsidiaries                     |   |                 |      |   |   |                     |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (c) Eliminate intercompany receivables and payables          |   |                 |      |   |   |                     |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (d) Eliminate intercompany preferred stock investment        |   |                 |      |   |   |                     |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

|                                                  |   | Moving & Storage |      |   |   |  AMERCO Legal Group |       |
|-------------------------------------------------------|--------|----------------------|-----------|--------|--------|--------------------------|------------|
|                                                  |   | AMERCO               |      |   | U-Haul |                     |       | Real Estate |   |   | Eliminations |   |   |   | Moving & StorageConsolidated |   |   | Property & Casualty Insurance (a) |   |   | LifeInsurance (a) |   |   | Eliminations |   |   |   | AMERCOConsolidated |   |
|                                                  |   |                 |      |
|                                                  |   | (In thousands)       |      |
| Assets:                                               |   |                 |      |
| Cash and cash equivalents                             |   | $                    | 100,460   |   |   | $                        | 107,241    |   |   | $ | 4 |   |   | $ | - |   |   |   | $ | 207,705 |   |   | $ | 22,126 |   |   | $ | 14,287 |   |   | $ | - |   |   |   | $ | 244,118 |   |
| Reinsurance recoverables and trade receivables, net   |   |                 | -         |   |   |                     | 17,797     |   |   |   | - |   |   |   | - |   |   |   |   | 17,797 |   |   |   | 168,119 |   |   |   | 12,367 |   |   |   | - |   |   |   |   | 198,283 |   |
| Notes and mortgage receivables, net                   |   |                 | -         |   |   |                     | 379        |   |   |   | 1,082 |   |   |   | - |   |   |   |   | 1,461 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 1,461 |   |
| Inventories, net                                      |   |                 | -         |   |   |                     | 52,837     |   |   |   | - |   |   |   | - |   |   |   |   | 52,837 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 52,837 |   |
| Prepaid expenses                                      |   |                 | -         |   |   |                     | 53,305     |   |   |   | 74 |   |   |   | - |   |   |   |   | 53,379 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 53,379 |   |
| Investments, fixed maturities and marketable equities |   |                 | 18,247    |   |   |                     | -          |   |   |   | - |   |   |   | - |   |   |   |   | 18,247 |   |   |   | 98,623 |   |   |   | 435,015 |   |   |   | (2,567 | ) | (d) |   |   | 549,318 |   |
| Investments, other                                    |   |                 | -         |   |   |                     | 2,626      |   |   |   | 12,990 |   |   |   | - |   |   |   |   | 15,616 |   |   |   | 106,334 |   |   |   | 105,536 |   |   |   | - |   |   |   |   | 227,486 |   |
| Deferred policy acquisition costs, net                |   |                 | -         |   |   |                     | -          |   |   |   | - |   |   |   | - |   |   |   |   | - |   |   |   | - |   |   |   | 39,194 |   |   |   | - |   |   |   |   | 39,194 |   |
| Other assets                                          |   |                 | 37,800    |   |   |                     | 79,228     |   |   |   | 27,407 |   |   |   | - |   |   |   |   | 144,435 |   |   |   | 912 |   |   |   | 517 |   |   |   | - |   |   |   |   | 145,864 |   |
| Related party assets                                  |   |                 | 1,176,096 |   |   |                     | 247,074    |   |   |   | 8 |   |   |   | (1,118,983 | ) | (c) |   |   | 304,195 |   |   |   | 2,446 |   |   |   | - |   |   |   | (4,515 | ) | (c) |   |   | 302,126 |   |
|                                                  |   |                 | 1,332,603 |   |   |                     | 560,487    |   |   |   | 41,565 |   |   |   | (1,118,983 | ) |   |   |   | 815,672 |   |   |   | 398,560 |   |   |   | 606,916 |   |   |   | (7,082 | ) |   |   |   | 1,814,066 |   |
|                                                  |   |                 |      |   |   |                     |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Investment in subsidiaries                            |   |                 | (279,582  | )      |   |                     | -          |   |   |   | - |   |   |   | 604,478 |   | (b) |   |   | 324,896 |   |   |   | - |   |   |   | - |   |   |   | (324,896 | ) | (b) |   |   | - |   |
|                                                  |   |                 |      |   |   |                     |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Property, plant and equipment, at cost:               |   |                 |      |   |   |                     |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Land                                                  |   |                 | -         |   |   |                     | 44,525     |   |   |   | 180,379 |   |   |   | - |   |   |   |   | 224,904 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 224,904 |   |
| Buildings and improvements                            |   |                 | -         |   |   |                     | 157,073    |   |   |   | 813,864 |   |   |   | - |   |   |   |   | 970,937 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 970,937 |   |
| Furniture and equipment                               |   |                 | 248       |   |   |                     | 304,926    |   |   |   | 18,160 |   |   |   | - |   |   |   |   | 323,334 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 323,334 |   |
| Rental trailers and other rental equipment            |   |                 | -         |   |   |                     | 244,131    |   |   |   | - |   |   |   | - |   |   |   |   | 244,131 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 244,131 |   |
| Rental trucks                                         |   |                 | -         |   |   |                     | 1,529,817  |   |   |   | - |   |   |   | - |   |   |   |   | 1,529,817 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 1,529,817 |   |
|                                                  |   |                 | 248       |   |   |                     | 2,280,472  |   |   |   | 1,012,403 |   |   |   | - |   |   |   |   | 3,293,123 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 3,293,123 |   |
| Less:  Accumulated depreciation             |   |                 | (216      | )      |   |                     | (1,012,575 | ) |   |   | (331,944 | ) |   |   | - |   |   |   |   | (1,344,735 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | (1,344,735 | ) |
| Total property, plant and equipment                   |   |                 | 32        |   |   |                     | 1,267,897  |   |   |   | 680,459 |   |   |   | - |   |   |   |   | 1,948,388 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 1,948,388 |   |
| Total assets                                          |   | $                    | 1,053,053 |   |   | $                        | 1,828,384  |   |   | $ | 722,024 |   |   | $ | (514,505 | ) |   |   | $ | 3,088,956 |   |   | $ | 398,560 |   |   | $ | 606,916 |   |   | $ | (331,978 | ) |   |   | $ | 3,762,454 |   |
|                                                  |   |                 |      |   |   |                     |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (a) Balances as of December 31, 2009                  |   |                 |      |   |   |                     |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (b) Eliminate investment in subsidiaries              |   |                 |      |   |   |                     |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (c) Eliminate intercompany receivables and payables   |   |                 |      |   |   |                     |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (d) Eliminate intercompany preferred stock investment |   |                 |      |   |   |                     |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

|                                                         |   | Moving & Storage |      |   |   |  AMERCO Legal Group |      |
|--------------------------------------------------------------|--------|----------------------|-----------|--------|--------|--------------------------|-----------|
|                                                         |   | AMERCO               |      |   | U-Haul |                     |      | Real Estate |   |   | Eliminations |   |   |   | Moving & StorageConsolidated |   |   | Property & Casualty Insurance (a) |   |   | LifeInsurance (a) |   |   | Eliminations |   |   |   | AMERCOConsolidated |   |
|                                                         |   |                 |      |
|                                                         |   | (In thousands)       |      |
| Liabilities:                                                 |   |                 |      |   |   |                     |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Accounts payable and accrued expenses                        |   | $                    | 12,496    |   |   | $                        | 275,150   |   |   | $ | 4,212 |   |   | $ | - |   |   |   | $ | 291,858 |   |   | $ | - |   |   | $ | 4,199 |   |   | $ | - |   |   |   | $ | 296,057 |   |
| Notes, loans and leases payable                              |   |                 | -         |   |   |                     | 508,930   |   |   |   | 838,705 |   |   |   | - |   |   |   |   | 1,347,635 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 1,347,635 |   |
| Policy benefits and losses, claims and loss expenses payable |   |                 | -         |   |   |                     | 385,520   |   |   |   | - |   |   |   | - |   |   |   |   | 385,520 |   |   |   | 272,438 |   |   |   | 158,951 |   |   |   | - |   |   |   |   | 816,909 |   |
| Liabilities from investment contracts                        |   |                 | -         |   |   |                     | -         |   |   |   | - |   |   |   | - |   |   |   |   | - |   |   |   | - |   |   |   | 268,810 |   |   |   | - |   |   |   |   | 268,810 |   |
| Other policyholders' funds and liabilities                   |   |                 | -         |   |   |                     | -         |   |   |   | - |   |   |   | - |   |   |   |   | - |   |   |   | 5,609 |   |   |   | 2,546 |   |   |   | - |   |   |   |   | 8,155 |   |
| Deferred income                                              |   |                 | -         |   |   |                     | 25,207    |   |   |   | - |   |   |   | - |   |   |   |   | 25,207 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 25,207 |   |
| Deferred income taxes                                        |   |                 | 220,659   |   |   |                     | -         |   |   |   | - |   |   |   | - |   |   |   |   | 220,659 |   |   |   | (32,819 | ) |   |   | (936 | ) |   |   | (134 | ) | (d) |   |   | 186,770 |   |
| Related party liabilities                                    |   |                 | -         |   |   |                     | 1,081,278 |   |   |   | 40,438 |   |   |   | (1,118,983 | ) | (c) |   |   | 2,733 |   |   |   | 1,655 |   |   |   | 127 |   |   |   | (4,515 | ) | (c) |   |   | - |   |
| Total liabilities                                            |   |                 | 233,155   |   |   |                     | 2,276,085 |   |   |   | 883,355 |   |   |   | (1,118,983 | ) |   |   |   | 2,273,612 |   |   |   | 246,883 |   |   |   | 433,697 |   |   |   | (4,649 | ) |   |   |   | 2,949,543 |   |
|                                                         |   |                 |      |   |   |                     |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| 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 |   |   |   | 3,301 |   |   |   | 2,500 |   |   |   | (5,801 | ) | (b) |   |   | 10,497 |   |
| Additional paid-in capital                                   |   |                 | 422,384   |   |   |                     | 121,230   |   |   |   | 147,941 |   |   |   | (269,171 | ) | (b) |   |   | 422,384 |   |   |   | 89,620 |   |   |   | 26,271 |   |   |   | (118,464 | ) |  (b,d | ) |   | 419,811 |   |
| Accumulated other comprehensive income (loss)                |   |                 | (55,959   | )      |   |                     | (62,138   | ) |   |   | - |   |   |   | 62,138 |   | (b) |   |   | (55,959 | ) |   |   | 242 |   |   |   | 5,625 |   |   |   | (6,115 | ) |  (b,d | ) |   | (56,207 | ) |
| Retained earnings (deficit)                                  |   |                 | 968,629   |   |   |                     | (502,779  | ) |   |   | (309,273 | ) |   |   | 812,052 |   | (b) |   |   | 968,629 |   |   |   | 58,514 |   |   |   | 138,823 |   |   |   | (196,949 | ) |  (b,d | ) |   | 969,017 |   |
| Cost of common shares in treasury, net                       |   |                 | (525,653  | )      |   |                     | -         |   |   |   | - |   |   |   | - |   |   |   |   | (525,653 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   | (525,653 | ) |
| Unearned employee stock ownership plan shares                |   |                 | -         |   |   |                     | (4,554    | ) |   |   | - |   |   |   | - |   |   |   |   | (4,554 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   | (4,554 | ) |
| Total stockholders' equity (deficit)                         |   |                 | 819,898   |   |   |                     | (447,701  | ) |   |   | (161,331 | ) |   |   | 604,478 |   |   |   |   | 815,344 |   |   |   | 151,677 |   |   |   | 173,219 |   |   |   | (327,329 | ) |   |   |   |   | 812,911 |   |
| Total liabilities and stockholders' equity                   |   | $                    | 1,053,053 |   |   | $                        | 1,828,384 |   |   | $ | 722,024 |   |   | $ | (514,505 | ) |   |   | $ | 3,088,956 |   |   | $ | 398,560 |   |   | $ | 606,916 |   |   | $ | (331,978 | ) |   |   |   | $ | 3,762,454 |   |
|                                                         |   |                 |      |   |   |                     |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (a) Balances as of December 31, 2009                         |   |                 |      |   |   |                     |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (b) Eliminate investment in subsidiaries                     |   |                 |      |   |   |                     |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (c) Eliminate intercompany receivables and payables          |   |                 |      |   |   |                     |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (d) Eliminate intercompany preferred stock investment        |   |                 |      |   |   |                     |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

|                                                               |   | Moving & Storage |   |   |   |  AMERCO Legal Group |    |
|--------------------------------------------------------------------|--------|----------------------|--------|--------|--------|--------------------------|---------|
|                                                               |   | AMERCO               |   |   | U-Haul |                     |    | Real Estate |   |   | Eliminations |   |   |   | Moving & StorageConsolidated |   |   | Property & Casualty Insurance (a) |   |   | LifeInsurance (a) |   |   | Eliminations |   |   |   | AMERCOConsolidated |   |
|                                                               |   | (Unaudited)          |   |
|                                                               |   | (In thousands)       |   |
| Revenues:                                                          |   |                 |   |   |   |                     |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Self-moving equipment rentals                                      |   | $                    | -      |   |   | $                        | 467,797 |   |   | $ | - |   |   | $ | - |   |   |   | $ | 467,797 |   |   | $ | - |   |   | $ | - |   |   | $ | (669 | ) | (c) |   | $ | 467,128 |   |
| Self-storage revenues                                              |   |                 | -      |   |   |                     | 30,282  |   |   |   | 365 |   |   |   | - |   |   |   |   | 30,647 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 30,647 |   |
| Self-moving and self-storage products and service sales            |   |                 | -      |   |   |                     | 56,821  |   |   |   | - |   |   |   | - |   |   |   |   | 56,821 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 56,821 |   |
| Property management fees                                           |   |                 | -      |   |   |                     | 4,580   |   |   |   | - |   |   |   | - |   |   |   |   | 4,580 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 4,580 |   |
| Life insurance premiums                                            |   |                 | -      |   |   |                     | -       |   |   |   | - |   |   |   | - |   |   |   |   | - |   |   |   | - |   |   |   | 40,022 |   |   |   | - |   |   |   |   | 40,022 |   |
| Property and casualty insurance premiums                           |   |                 | -      |   |   |                     | -       |   |   |   | - |   |   |   | - |   |   |   |   | - |   |   |   | 8,300 |   |   |   | - |   |   |   | - |   |   |   |   | 8,300 |   |
| Net investment and interest income                                 |   |                 | 1,283  |   |   |                     | 5,142   |   |   |   | - |   |   |   | - |   |   |   |   | 6,425 |   |   |   | 2,096 |   |   |   | 4,789 |   |   |   | (436 | ) | (b,e) |   |   | 12,874 |   |
| Other revenue                                                      |   |                 | -      |   |   |                     | 17,841  |   |   |   | 19,286 |   |   |   | (20,765 | ) | (b) |   |   | 16,362 |   |   |   | - |   |   |   | 588 |   |   |   | (346 | ) | (b) |   |   | 16,604 |   |
| Total revenues                                                     |   |                 | 1,283  |   |   |                     | 582,463 |   |   |   | 19,651 |   |   |   | (20,765 | ) |   |   |   | 582,632 |   |   |   | 10,396 |   |   |   | 45,399 |   |   |   | (1,451 | ) |   |   |   |   | 636,976 |   |
|                                                               |   |                 |   |   |   |                     |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Costs and expenses:                                                |   |                 |   |   |   |                     |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Operating expenses                                                 |   |                 | 1,816  |   |   |                     | 276,725 |   |   |   | 2,328 |   |   |   | (20,765 | ) | (b) |   |   | 260,104 |   |   |   | 4,154 |   |   |   | 7,007 |   |   |   | (1,006 | ) | (b,c) |   |   | 270,259 |   |
| Commission expenses                                                |   |                 | -      |   |   |                     | 57,613  |   |   |   | - |   |   |   | - |   |   |   |   | 57,613 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   | 57,613 |   |
| Cost of sales                                                      |   |                 | -      |   |   |                     | 29,603  |   |   |   | - |   |   |   | - |   |   |   |   | 29,603 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   | 29,603 |   |
| Benefits and losses                                                |   |                 | -      |   |   |                     | -       |   |   |   | - |   |   |   | - |   |   |   |   | - |   |   |   | 4,235 |   |   |   | 33,148 |   |   |   | - |   |   |   |   |   | 37,383 |   |
| Amortization of deferred policy acquisition costs                  |   |                 | -      |   |   |                     | -       |   |   |   | - |   |   |   | - |   |   |   |   | - |   |   |   | - |   |   |   | 1,876 |   |   |   | - |   |   |   |   |   | 1,876 |   |
| Lease expense                                                      |   |                 | 22     |   |   |                     | 38,246  |   |   |   | 1 |   |   |   | - |   |   |   |   | 38,269 |   |   |   | - |   |   |   | - |   |   |   | (305 | ) | (b) |   |   | 37,964 |   |
| Depreciation, net of (gains) losses on disposals                   |   |                 | 2      |   |   |                     | 40,971  |   |   |   | 3,184 |   |   |   | - |   |   |   |   | 44,157 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   | 44,157 |   |
| Total costs and expenses                                           |   |                 | 1,840  |   |   |                     | 443,158 |   |   |   | 5,513 |   |   |   | (20,765 | ) |   |   |   | 429,746 |   |   |   | 8,389 |   |   |   | 42,031 |   |   |   | (1,311 | ) |   |   |   |   | 478,855 |   |
|                                                               |   |                 |   |   |   |                     |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Equity in earnings of subsidiaries                                 |   |                 | 73,125 |   |   |                     | -       |   |   |   | - |   |   |   | (69,567 | ) | (d) |   |   | 3,558 |   |   |   | - |   |   |   | - |   |   |   | (3,558 | ) | (d) |   |   | - |   |
|                                                               |   |                 |   |   |   |                     |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Earnings from operations                                           |   |                 | 72,568 |   |   |                     | 139,305 |   |   |   | 14,138 |   |   |   | (69,567 | ) |   |   |   | 156,444 |   |   |   | 2,007 |   |   |   | 3,368 |   |   |   | (3,698 | ) |   |   |   |   | 158,121 |   |
| Interest income (expense)                                          |   |                 | 20,288 |   |   |                     | (31,076 | ) |   |   | (11,000 | ) |   |   | - |   |   |   |   | (21,788 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   | (21,788 | ) |
| Pretax earnings                                                    |   |                 | 92,856 |   |   |                     | 108,229 |   |   |   | 3,138 |   |   |   | (69,567 | ) |   |   |   | 134,656 |   |   |   | 2,007 |   |   |   | 3,368 |   |   |   | (3,698 | ) |   |   |   |   | 136,333 |   |
| Income tax expense                                                 |   |                 | (7,497 | )      |   |                     | (40,400 | ) |   |   | (1,400 | ) |   |   | - |   |   |   |   | (49,297 | ) |   |   | (702 | ) |   |   | (1,115 | ) |   |   | - |   |   |   |   |   | (51,114 | ) |
| Net earnings                                                       |   |                 | 85,359 |   |   |                     | 67,829  |   |   |   | 1,738 |   |   |   | (69,567 | ) |   |   |   | 85,359 |   |   |   | 1,305 |   |   |   | 2,253 |   |   |   | (3,698 | ) |   |   |   |   | 85,219 |   |
| Loss of carrying amount of preferred stock over consideration paid |   |                 | -      |   |   |                     | -       |   |   |   | - |   |   |   | - |   |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (140 | ) |   |   |   |   | (140 | ) |
| Less:  Preferred stock dividends                         |   |                 | (3,241 | )      |   |                     | -       |   |   |   | - |   |   |   | - |   |   |   |   | (3,241 | ) |   |   | - |   |   |   | - |   |   |   | 140 |   | (e) |   |   | (3,101 | ) |
| Earnings available to common shareholders                          |   | $                    | 82,118 |   |   | $                        | 67,829  |   |   | $ | 1,738 |   |   | $ | (69,567 | ) |   |   | $ | 82,118 |   |   | $ | 1,305 |   |   | $ | 2,253 |   |   | $ | (3,698 | ) |   |   |   | $ | 81,978 |   |
|                                                               |   |                 |   |   |   |                     |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (a) Balances for the quarter ended June 30, 2010                   |   |                 |   |   |   |                     |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (b) Eliminate intercompany lease income                            |   |                 |   |   |   |                     |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (c) Eliminate intercompany premiums                                |   |                 |   |   |   |                     |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (d) Eliminate equity in earnings of subsidiaries                   |   |                 |   |   |   |                     |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (e) Eliminate preferred stock dividends paid to affiliates         |   |                 |   |   |   |                     |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

|                                                              |   | Moving & Storage |   |   |   |  AMERCO Legal Group |    |
|-------------------------------------------------------------------|--------|----------------------|--------|--------|--------|--------------------------|---------|
|                                                              |   | AMERCO               |   |   | U-Haul |                     |    | Real Estate |   |   | Eliminations |   |   |   | Moving & StorageConsolidated |   |   | Property & Casualty Insurance (a) |   |   | LifeInsurance (a) |   |   | Eliminations |   |   |   |   | AMERCOConsolidated |   |
|                                                              |   | (Unaudited)          |   |
|                                                              |   | (In thousands)       |   |
| Revenues:                                                         |   |                 |   |   |   |                     |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Self-moving equipment rentals                                     |   | $                    | -      |   |   | $                        | 427,637 |   |   | $ | - |   |   | $ | - |   |   |   | $ | 427,637 |   |   | $ | - |   |   | $ | - |   |   | $ | (434 | ) | (c) |   |   | $ | 427,203 |   |
| Self-storage revenues                                             |   |                 | -      |   |   |                     | 27,101  |   |   |   | 311 |   |   |   | - |   |   |   |   | 27,412 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   | 27,412 |   |
| Self-moving and self-storage products and service sales           |   |                 | -      |   |   |                     | 55,522  |   |   |   | - |   |   |   | - |   |   |   |   | 55,522 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   | 55,522 |   |
| Property management fees                                          |   |                 | -      |   |   |                     | 4,478   |   |   |   | - |   |   |   | - |   |   |   |   | 4,478 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   | 4,478 |   |
| Life insurance premiums                                           |   |                 | -      |   |   |                     | -       |   |   |   | - |   |   |   | - |   |   |   |   | - |   |   |   | - |   |   |   | 28,738 |   |   |   | - |   |   |   |   |   | 28,738 |   |
| Property and casualty insurance premiums                          |   |                 | -      |   |   |                     | -       |   |   |   | - |   |   |   | - |   |   |   |   | - |   |   |   | 7,046 |   |   |   | - |   |   |   | - |   |   |   |   |   | 7,046 |   |
| Net investment and interest income                                |   |                 | 1,080  |   |   |                     | 5,741   |   |   |   | - |   |   |   | - |   |   |   |   | 6,821 |   |   |   | 1,813 |   |   |   | 4,230 |   |   |   | (325 | ) | (b,e) |   |   |   | 12,539 |   |
| Other revenue                                                     |   |                 | -      |   |   |                     | 11,977  |   |   |   | 18,439 |   |   |   | (19,874 | ) | (b) |   |   | 10,542 |   |   |   | - |   |   |   | 767 |   |   |   | (323 | ) | (b) |   |   |   | 10,986 |   |
| Total revenues                                                    |   |                 | 1,080  |   |   |                     | 532,456 |   |   |   | 18,750 |   |   |   | (19,874 | ) |   |   |   | 532,412 |   |   |   | 8,859 |   |   |   | 33,735 |   |   |   | (1,082 | ) |   |   |   |   |   | 573,924 |   |
|                                                              |   |                 |   |   |   |                     |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Costs and expenses:                                               |   |                 |   |   |   |                     |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Operating expenses                                                |   |                 | 2,024  |   |   |                     | 281,515 |   |   |   | 1,956 |   |   |   | (19,874 | ) | (b) |   |   | 265,621 |   |   |   | 3,617 |   |   |   | 5,240 |   |   |   | (748 | ) | (b,c) |   |   |   | 273,730 |   |
| Commission expenses                                               |   |                 | -      |   |   |                     | 51,098  |   |   |   | - |   |   |   | - |   |   |   |   | 51,098 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   | 51,098 |   |
| Cost of sales                                                     |   |                 | -      |   |   |                     | 28,359  |   |   |   | - |   |   |   | - |   |   |   |   | 28,359 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   | 28,359 |   |
| Benefits and losses                                               |   |                 | -      |   |   |                     | -       |   |   |   | - |   |   |   | - |   |   |   |   | - |   |   |   | 3,619 |   |   |   | 22,188 |   |   |   | - |   |   |   |   |   |   | 25,807 |   |
| Amortization of deferred policy acquisition costs                 |   |                 | -      |   |   |                     | -       |   |   |   | - |   |   |   | - |   |   |   |   | - |   |   |   | - |   |   |   | 2,296 |   |   |   | - |   |   |   |   |   |   | 2,296 |   |
| Lease expense                                                     |   |                 | 22     |   |   |                     | 40,306  |   |   |   | 3 |   |   |   | - |   |   |   |   | 40,331 |   |   |   | - |   |   |   | - |   |   |   | (305 | ) | (b) |   |   |   | 40,026 |   |
| Depreciation, net of (gains) losses on disposals                  |   |                 | 5      |   |   |                     | 53,426  |   |   |   | 3,359 |   |   |   | - |   |   |   |   | 56,790 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   | 56,790 |   |
| Total costs and expenses                                          |   |                 | 2,051  |   |   |                     | 454,704 |   |   |   | 5,318 |   |   |   | (19,874 | ) |   |   |   | 442,199 |   |   |   | 7,236 |   |   |   | 29,724 |   |   |   | (1,053 | ) |   |   |   |   |   | 478,106 |   |
|                                                              |   |                 |   |   |   |                     |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Equity in earnings of subsidiaries                                |   |                 | 30,525 |   |   |                     | -       |   |   |   | - |   |   |   | (26,849 | ) | (d) |   |   | 3,676 |   |   |   | - |   |   |   | - |   |   |   | (3,676 | ) | (d) |   |   |   | - |   |
|                                                              |   |                 |   |   |   |                     |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Earnings from operations                                          |   |                 | 29,554 |   |   |                     | 77,752  |   |   |   | 13,432 |   |   |   | (26,849 | ) |   |   |   | 93,889 |   |   |   | 1,623 |   |   |   | 4,011 |   |   |   | (3,705 | ) |   |   |   |   |   | 95,818 |   |
| Interest income (expense)                                         |   |                 | 24,110 |   |   |                     | (39,504 | ) |   |   | (8,544 | ) |   |   | - |   |   |   |   | (23,938 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   | (23,938 | ) |
| Pretax earnings                                                   |   |                 | 53,664 |   |   |                     | 38,248  |   |   |   | 4,888 |   |   |   | (26,849 | ) |   |   |   | 69,951 |   |   |   | 1,623 |   |   |   | 4,011 |   |   |   | (3,705 | ) |   |   |   |   |   | 71,880 |   |
| Income tax expense                                                |   |                 | (8,944 | )      |   |                     | (14,167 | ) |   |   | (2,120 | ) |   |   | - |   |   |   |   | (25,231 | ) |   |   | (568 | ) |   |   | (1,390 | ) |   |   | - |   |   |   |   |   |   | (27,189 | ) |
| Net earnings                                                      |   |                 | 44,720 |   |   |                     | 24,081  |   |   |   | 2,768 |   |   |   | (26,849 | ) |   |   |   | 44,720 |   |   |   | 1,055 |   |   |   | 2,621 |   |   |   | (3,705 | ) |   |   |   |   |   | 44,691 |   |
| Excess carrying amount of preferred stock over consideration paid |   |                 | -      |   |   |                     | -       |   |   |   | - |   |   |   | - |   |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 48 |   |   |   |   |   |   | 48 |   |
| Less:  Preferred stock dividends                        |   |                 | (3,241 | )      |   |                     | -       |   |   |   | - |   |   |   | - |   |   |   |   | (3,241 | ) |   |   | - |   |   |   | - |   |   |   | 29 |   | (e) |   |   |   | (3,212 | ) |
| Earnings available to common shareholders                         |   | $                    | 41,479 |   |   | $                        | 24,081  |   |   | $ | 2,768 |   |   | $ | (26,849 | ) |   |   | $ | 41,479 |   |   | $ | 1,055 |   |   | $ | 2,621 |   |   | $ | (3,628 | ) |   |   |   |   | $ | 41,527 |   |
|                                                              |   |                 |   |   |   |                     |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (a) Balances for the quarter ended June 30, 2009                  |   |                 |   |   |   |                     |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (b) Eliminate intercompany lease income                           |   |                 |   |   |   |                     |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (c) Eliminate intercompany premiums                               |   |                 |   |   |   |                     |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (d) Eliminate equity in earnings of subsidiaries                  |   |                 |   |   |   |                     |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (e) Eliminate preferred stock dividends paid to affiliate         |   |                 |   |   |   |                     |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

|                                                               |   | Moving & Storage |    |   |   |  AMERCO Legal Group |      |
|--------------------------------------------------------------------|--------|----------------------|---------|--------|--------|--------------------------|-----------|
|                                                               |   | AMERCO               |    |   | U-Haul |                     |      | Real Estate |   |   | Eliminations |   |   |   | Moving & StorageConsolidated |   |   | Property & Casualty Insurance (a) |   |   | LifeInsurance (a) |   |   | Eliminations |   |   |   |   |   | AMERCOConsolidated |   |
|                                                               |   | (Unaudited)          |    |
|                                                               |   | (In thousands)       |    |
| Revenues:                                                          |   |                 |    |   |   |                     |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Self-moving equipment rentals                                      |   | $                    | -       |   |   | $                        | 887,677   |   |   | $ | - |   |   | $ | - |   |   |   | $ | 887,677 |   |   | $ | - |   |   | $ | - |   |   | $ | (1,086 | ) |   | (c) |   |   | $ | 886,591 |   |
| Self-storage revenues                                              |   |                 | -       |   |   |                     | 58,197    |   |   |   | 677 |   |   |   | - |   |   |   |   | 58,874 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   | 58,874 |   |
| Self-moving and self-storage products and service sales            |   |                 | -       |   |   |                     | 120,111   |   |   |   | - |   |   |   | - |   |   |   |   | 120,111 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   | 120,111 |   |
| Property management fees                                           |   |                 | -       |   |   |                     | 9,116     |   |   |   | - |   |   |   | - |   |   |   |   | 9,116 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   | 9,116 |   |
| Life insurance premiums                                            |   |                 | -       |   |   |                     | -         |   |   |   | - |   |   |   | - |   |   |   |   | - |   |   |   | - |   |   |   | 77,825 |   |   |   | - |   |   |   |   |   |   | 77,825 |   |
| Property and casualty insurance premiums                           |   |                 | -       |   |   |                     | -         |   |   |   | - |   |   |   | - |   |   |   |   | - |   |   |   | 14,479 |   |   |   | - |   |   |   | - |   |   |   |   |   |   | 14,479 |   |
| Net investment and interest income                                 |   |                 | 2,494   |   |   |                     | 10,221    |   |   |   | - |   |   |   | - |   |   |   |   | 12,715 |   |   |   | 4,011 |   |   |   | 10,321 |   |   |   | (818 | ) |   | (b,e) |   |   |   | 26,229 |   |
| Other revenue                                                      |   |                 | 20      |   |   |                     | 32,013    |   |   |   | 38,658 |   |   |   | (41,394 | ) | (b) |   |   | 29,297 |   |   |   | - |   |   |   | 1,095 |   |   |   | (694 | ) |   | (b) |   |   |   | 29,698 |   |
| Total revenues                                                     |   |                 | 2,514   |   |   |                     | 1,117,335 |   |   |   | 39,335 |   |   |   | (41,394 | ) |   |   |   | 1,117,790 |   |   |   | 18,490 |   |   |   | 89,241 |   |   |   | (2,598 | ) |   |   |   |   |   |   | 1,222,923 |   |
|                                                               |   |                 |    |   |   |                     |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Costs and expenses:                                                |   |                 |    |   |   |                     |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Operating expenses                                                 |   |                 | 3,895   |   |   |                     | 537,382   |   |   |   | 4,591 |   |   |   | (41,394 | ) | (b) |   |   | 504,474 |   |   |   | 6,972 |   |   |   | 13,710 |   |   |   | (1,763 | ) |   | (b,c) |   |   |   | 523,393 |   |
| Commission expenses                                                |   |                 | -       |   |   |                     | 109,782   |   |   |   | - |   |   |   | - |   |   |   |   | 109,782 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   |   | 109,782 |   |
| Cost of sales                                                      |   |                 | -       |   |   |                     | 61,268    |   |   |   | - |   |   |   | - |   |   |   |   | 61,268 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   |   | 61,268 |   |
| Benefits and losses                                                |   |                 | -       |   |   |                     | -         |   |   |   | - |   |   |   | - |   |   |   |   | - |   |   |   | 8,114 |   |   |   | 64,691 |   |   |   | - |   |   |   |   |   |   |   | 72,805 |   |
| Amortization of deferred policy acquisition costs                  |   |                 | -       |   |   |                     | -         |   |   |   | - |   |   |   | - |   |   |   |   | - |   |   |   | - |   |   |   | 4,069 |   |   |   | - |   |   |   |   |   |   |   | 4,069 |   |
| Lease expense                                                      |   |                 | 47      |   |   |                     | 77,187    |   |   |   | 6 |   |   |   | - |   |   |   |   | 77,240 |   |   |   | - |   |   |   | - |   |   |   | (610 | ) |   | (b) |   |   |   | 76,630 |   |
| Depreciation, net of (gains) losses on disposals                   |   |                 | 4       |   |   |                     | 83,578    |   |   |   | 5,164 |   |   |   | - |   |   |   |   | 88,746 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   |   | 88,746 |   |
| Total costs and expenses                                           |   |                 | 3,946   |   |   |                     | 869,197   |   |   |   | 9,761 |   |   |   | (41,394 | ) |   |   |   | 841,510 |   |   |   | 15,086 |   |   |   | 82,470 |   |   |   | (2,373 | ) |   |   |   |   |   |   | 936,693 |   |
|                                                               |   |                 |    |   |   |                     |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Equity in earnings of subsidiaries                                 |   |                 | 127,062 |   |   |                     | -         |   |   |   | - |   |   |   | (120,463 | ) | (d) |   |   | 6,599 |   |   |   | - |   |   |   | - |   |   |   | (6,599 | ) |   | (d) |   |   |   | - |   |
|                                                               |   |                 |    |   |   |                     |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Earnings from operations                                           |   |                 | 125,630 |   |   |                     | 248,138   |   |   |   | 29,574 |   |   |   | (120,463 | ) |   |   |   | 282,879 |   |   |   | 3,404 |   |   |   | 6,771 |   |   |   | (6,824 | ) |   |   |   |   |   |   | 286,230 |   |
| Interest income (expense)                                          |   |                 | 41,568  |   |   |                     | (63,952   | ) |   |   | (20,868 | ) |   |   | - |   |   |   |   | (43,252 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   |   | (43,252 | ) |
| Pretax earnings                                                    |   |                 | 167,198 |   |   |                     | 184,186   |   |   |   | 8,706 |   |   |   | (120,463 | ) |   |   |   | 239,627 |   |   |   | 3,404 |   |   |   | 6,771 |   |   |   | (6,824 | ) |   |   |   |   |   |   | 242,978 |   |
| Income tax expense                                                 |   |                 | (15,252 | )      |   |                     | (68,698   | ) |   |   | (3,731 | ) |   |   | - |   |   |   |   | (87,681 | ) |   |   | (1,191 | ) |   |   | (2,385 | ) |   |   | - |   |   |   |   |   |   |   | (91,257 | ) |
| Net earnings                                                       |   |                 | 151,946 |   |   |                     | 115,488   |   |   |   | 4,975 |   |   |   | (120,463 | ) |   |   |   | 151,946 |   |   |   | 2,213 |   |   |   | 4,386 |   |   |   | (6,824 | ) |   |   |   |   |   |   | 151,721 |   |
| Loss of carrying amount of preferred stock over consideration paid |   |                 | -       |   |   |                     | -         |   |   |   | - |   |   |   | - |   |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (171 | ) |   |   |   |   |   |   | (171 | ) |
| Less:  Preferred stock dividends                         |   |                 | (6,482  | )      |   |                     | -         |   |   |   | - |   |   |   | - |   |   |   |   | (6,482 | ) |   |   | - |   |   |   | - |   |   |   | 225 |   |   | (e) |   |   |   | (6,257 | ) |
| Earnings available to common shareholders                          |   | $                    | 145,464 |   |   | $                        | 115,488   |   |   | $ | 4,975 |   |   | $ | (120,463 | ) |   |   | $ | 145,464 |   |   | $ | 2,213 |   |   | $ | 4,386 |   |   | $ | (6,770 | ) |   |   |   |   |   | $ | 145,293 |   |
|                                                               |   |                 |    |   |   |                     |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (a) Balances for the six months ended June 30, 2010                |   |                 |    |   |   |                     |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (b) Eliminate intercompany lease income                            |   |                 |    |   |   |                     |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (c) Eliminate intercompany premiums                                |   |                 |    |   |   |                     |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (d) Eliminate equity in earnings of subsidiaries                   |   |                 |    |   |   |                     |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (e) Eliminate preferred stock dividends paid to affiliates         |   |                 |    |   |   |                     |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

|                                                              |   | Moving & Storage |    |   |   |  AMERCO Legal Group |      |
|-------------------------------------------------------------------|--------|----------------------|---------|--------|--------|--------------------------|-----------|
|                                                              |   | AMERCO               |    |   | U-Haul |                     |      | Real Estate |   |   | Eliminations |   |   |   | Moving & StorageConsolidated |   |   | Property & Casualty Insurance (a) |   |   | LifeInsurance (a) |   |   | Eliminations |   |   |   |   |   | AMERCOConsolidated |   |
|                                                              |   | (Unaudited)          |    |
|                                                              |   | (In thousands)       |    |
| Revenues:                                                         |   |                 |    |   |   |                     |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Self-moving equipment rentals                                     |   | $                    | -       |   |   | $                        | 800,892   |   |   | $ | - |   |   | $ | - |   |   |   | $ | 800,892 |   |   | $ | - |   |   | $ | - |   |   | $ | (748 | ) |   | (c) |   |   | $ | 800,144 |   |
| Self-storage revenues                                             |   |                 | -       |   |   |                     | 53,759    |   |   |   | 657 |   |   |   | - |   |   |   |   | 54,416 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   | 54,416 |   |
| Self-moving and self-storage products and service sales           |   |                 | -       |   |   |                     | 113,344   |   |   |   | - |   |   |   | - |   |   |   |   | 113,344 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   | 113,344 |   |
| Property management fees                                          |   |                 | -       |   |   |                     | 8,928     |   |   |   | - |   |   |   | - |   |   |   |   | 8,928 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   | 8,928 |   |
| Life insurance premiums                                           |   |                 | -       |   |   |                     | -         |   |   |   | - |   |   |   | - |   |   |   |   | - |   |   |   | - |   |   |   | 56,342 |   |   |   | - |   |   |   |   |   |   | 56,342 |   |
| Property and casualty insurance premiums                          |   |                 | -       |   |   |                     | -         |   |   |   | - |   |   |   | - |   |   |   |   | - |   |   |   | 13,261 |   |   |   | - |   |   |   | - |   |   |   |   |   |   | 13,261 |   |
| Net investment and interest income                                |   |                 | 2,152   |   |   |                     | 11,278    |   |   |   | - |   |   |   | - |   |   |   |   | 13,430 |   |   |   | 3,649 |   |   |   | 9,762 |   |   |   | (622 | ) |   | (b,e) |   |   |   | 26,219 |   |
| Other revenue                                                     |   |                 | -       |   |   |                     | 23,900    |   |   |   | 36,741 |   |   |   | (39,566 | ) | (b) |   |   | 21,075 |   |   |   | - |   |   |   | 1,503 |   |   |   | (649 | ) |   | (b) |   |   |   | 21,929 |   |
| Total revenues                                                    |   |                 | 2,152   |   |   |                     | 1,012,101 |   |   |   | 37,398 |   |   |   | (39,566 | ) |   |   |   | 1,012,085 |   |   |   | 16,910 |   |   |   | 67,607 |   |   |   | (2,019 | ) |   |   |   |   |   |   | 1,094,583 |   |
|                                                              |   |                 |    |   |   |                     |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Costs and expenses:                                               |   |                 |    |   |   |                     |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Operating expenses                                                |   |                 | 4,710   |   |   |                     | 547,106   |   |   |   | 4,197 |   |   |   | (39,566 | ) | (b) |   |   | 516,447 |   |   |   | 6,879 |   |   |   | 10,285 |   |   |   | (1,380 | ) |   | (b,c) |   |   |   | 532,231 |   |
| Commission expenses                                               |   |                 | -       |   |   |                     | 95,509    |   |   |   | - |   |   |   | - |   |   |   |   | 95,509 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   |   | 95,509 |   |
| Cost of sales                                                     |   |                 | -       |   |   |                     | 58,809    |   |   |   | - |   |   |   | - |   |   |   |   | 58,809 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   |   | 58,809 |   |
| Benefits and losses                                               |   |                 | -       |   |   |                     | -         |   |   |   | - |   |   |   | - |   |   |   |   | - |   |   |   | 6,981 |   |   |   | 46,520 |   |   |   | - |   |   |   |   |   |   |   | 53,501 |   |
| Amortization of deferred policy acquisition costs                 |   |                 | -       |   |   |                     | -         |   |   |   | - |   |   |   | - |   |   |   |   | - |   |   |   | - |   |   |   | 4,213 |   |   |   | - |   |   |   |   |   |   |   | 4,213 |   |
| Lease expense                                                     |   |                 | 36      |   |   |                     | 79,868    |   |   |   | 5 |   |   |   | - |   |   |   |   | 79,909 |   |   |   | - |   |   |   | - |   |   |   | (610 | ) |   | (b) |   |   |   | 79,299 |   |
| Depreciation, net of (gains) losses on disposals                  |   |                 | 9       |   |   |                     | 109,464   |   |   |   | 6,534 |   |   |   | - |   |   |   |   | 116,007 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   |   | 116,007 |   |
| Total costs and expenses                                          |   |                 | 4,755   |   |   |                     | 890,756   |   |   |   | 10,736 |   |   |   | (39,566 | ) |   |   |   | 866,681 |   |   |   | 13,860 |   |   |   | 61,018 |   |   |   | (1,990 | ) |   |   |   |   |   |   | 939,569 |   |
|                                                              |   |                 |    |   |   |                     |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Equity in earnings of subsidiaries                                |   |                 | 39,302  |   |   |                     | -         |   |   |   | - |   |   |   | (33,040 | ) | (d) |   |   | 6,262 |   |   |   | - |   |   |   | - |   |   |   | (6,262 | ) |   | (d) |   |   |   | - |   |
|                                                              |   |                 |    |   |   |                     |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Earnings from operations                                          |   |                 | 36,699  |   |   |                     | 121,345   |   |   |   | 26,662 |   |   |   | (33,040 | ) |   |   |   | 151,666 |   |   |   | 3,050 |   |   |   | 6,589 |   |   |   | (6,291 | ) |   |   |   |   |   |   | 155,014 |   |
| Interest income (expense)                                         |   |                 | 47,521  |   |   |                     | (77,710   | ) |   |   | (16,970 | ) |   |   | - |   |   |   |   | (47,159 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   |   | (47,159 | ) |
| Pretax earnings                                                   |   |                 | 84,220  |   |   |                     | 43,635    |   |   |   | 9,692 |   |   |   | (33,040 | ) |   |   |   | 104,507 |   |   |   | 3,050 |   |   |   | 6,589 |   |   |   | (6,291 | ) |   |   |   |   |   |   | 107,855 |   |
| Income tax expense                                                |   |                 | (17,068 | )      |   |                     | (16,079   | ) |   |   | (4,208 | ) |   |   | - |   |   |   |   | (37,355 | ) |   |   | (1,068 | ) |   |   | (2,309 | ) |   |   | - |   |   |   |   |   |   |   | (40,732 | ) |
| Net earnings                                                      |   |                 | 67,152  |   |   |                     | 27,556    |   |   |   | 5,484 |   |   |   | (33,040 | ) |   |   |   | 67,152 |   |   |   | 1,982 |   |   |   | 4,280 |   |   |   | (6,291 | ) |   |   |   |   |   |   | 67,123 |   |
| Excess carrying amount of preferred stock over consideration paid |   |                 | -       |   |   |                     | -         |   |   |   | - |   |   |   | - |   |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 371 |   |   |   |   |   |   |   | 371 |   |
| Less:  Preferred stock dividends                        |   |                 | (6,482  | )      |   |                     | -         |   |   |   | - |   |   |   | - |   |   |   |   | (6,482 | ) |   |   | - |   |   |   | - |   |   |   | 29 |   |   | (e) |   |   |   | (6,453 | ) |
| Earnings available to common shareholders                         |   | $                    | 60,670  |   |   | $                        | 27,556    |   |   | $ | 5,484 |   |   | $ | (33,040 | ) |   |   | $ | 60,670 |   |   | $ | 1,982 |   |   | $ | 4,280 |   |   | $ | (5,891 | ) |   |   |   |   |   | $ | 61,041 |   |
|                                                              |   |                 |    |   |   |                     |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (a) Balances for the six months ended June 30, 2009               |   |                 |    |   |   |                     |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (b) Eliminate intercompany lease income                           |   |                 |    |   |   |                     |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (c) Eliminate intercompany premiums                               |   |                 |    |   |   |                     |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (d) Eliminate equity in earnings of subsidiaries                  |   |                 |    |   |   |                     |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (e) Eliminate preferred stock dividends paid to affiliate         |   |                 |    |   |   |                     |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

|                                                                      |   | Moving & Storage |     |   |  AMERCO Legal Group |   |
|---------------------------------------------------------------------------|--------|----------------------|----------|--------|--------------------------|--------|
|                                                                      |   | AMERCO               |     |   | U-Haul                   |   |   | Real Estate |   |   | Elimination |   |   | Moving & StorageConsolidated |   |   | Property &CasualtyInsurance (a) |   |   | LifeInsurance (a) |   |   | Elimination |   |   | AMERCOConsolidated |   |
|                                                                      |   | (Unaudited)          |     |
| Cash flows from operating activities:                                     |   | (In thousands)       |     |
| Net earnings                                                              |   | $                    | 151,946  |   |                     | $      | 115,488 |   |   | $ | 4,975 |   |   | $ | (120,463 | ) |   | $ | 151,946 |   |   | $ | 2,213 |   |   | $ | 4,386 |   |   | $ | (6,824 | ) |   | $ | 151,721 |   |
| Earnings from consolidated entities                                       |   |                 | (127,062 | )      |                     |   | - |   |   |   | - |   |   |   | 120,463 |   |   |   | (6,599 | ) |   |   | - |   |   |   | - |   |   |   | 6,599 |   |   |   | - |   |
| Adjustments to reconcile net earnings to the cash provided by operations: |   |                 |     |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Depreciation                                                              |   |                 | 4        |   |                     |   | 99,673 |   |   |   | 6,378 |   |   |   | - |   |   |   | 106,055 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 106,055 |   |
| Amortization of deferred policy acquisition costs                         |   |                 | -        |   |                     |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 4,069 |   |   |   | - |   |   |   | 4,069 |   |
| Change in allowance for losses on trade receivables                       |   |                 | -        |   |                     |   | (25 | ) |   |   | - |   |   |   | - |   |   |   | (25 | ) |   |   | - |   |   |   | 1 |   |   |   | - |   |   |   | (24 | ) |
| Change in allowance for losses on mortgage notes                          |   |                 | -        |   |                     |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Change in allowance for inventory reserve                                 |   |                 | -        |   |                     |   | 840 |   |   |   | - |   |   |   | - |   |   |   | 840 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 840 |   |
| Net gain on sale of real and personal property                            |   |                 | -        |   |                     |   | (16,095 | ) |   |   | (1,214 | ) |   |   | - |   |   |   | (17,309 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (17,309 | ) |
| Net gain on sale of investments                                           |   |                 | -        |   |                     |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (36 | ) |   |   | (1,293 | ) |   |   | - |   |   |   | (1,329 | ) |
| Deferred income taxes                                                     |   |                 | 54,034   |   |                     |   | - |   |   |   | - |   |   |   | - |   |   |   | 54,034 |   |   |   | 864 |   |   |   | 2,193 |   |   |   | - |   |   |   | 57,091 |   |
| Net change in other operating assets and liabilities:                     |   |                 |     |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Reinsurance recoverables and trade receivables                            |   |                 | -        |   |                     |   | (2,407 | ) |   |   | - |   |   |   | - |   |   |   | (2,407 | ) |   |   | (3,592 | ) |   |   | 30 |   |   |   | - |   |   |   | (5,969 | ) |
| Inventories                                                               |   |                 | -        |   |                     |   | (3,662 | ) |   |   | - |   |   |   | - |   |   |   | (3,662 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (3,662 | ) |
| Prepaid expenses                                                          |   |                 | -        |   |                     |   | 5,518 |   |   |   | (543 | ) |   |   | - |   |   |   | 4,975 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 4,975 |   |
| Capitalization of deferred policy acquisition costs                       |   |                 | -        |   |                     |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (7,377 | ) |   |   | - |   |   |   | (7,377 | ) |
| Other assets                                                              |   |                 | 2        |   |                     |   | (646 | ) |   |   | 772 |   |   |   | - |   |   |   | 128 |   |   |   | 314 |   |   |   | 207 |   |   |   | - |   |   |   | 649 |   |
| Related party assets                                                      |   |                 | 286      |   |                     |   | 7,602 |   |   |   | (35 | ) |   |   | - |   |   |   | 7,853 |   |   |   | (1,143 | ) |   |   | - |   |   |   | - |   |   |   | 6,710 |   |
| Accounts payable and accrued expenses                                     |   |                 | (2,792   | )      |                     |   | 21,114 |   |   |   | (52 | ) |   |   | - |   |   |   | 18,270 |   |   |   | - |   |   |   | 1,832 |   |   |   | - |   |   |   | 20,102 |   |
| Policy benefits and losses, claims and loss expenses payable              |   |                 | -        |   |                     |   | 11,139 |   |   |   | - |   |   |   | - |   |   |   | 11,139 |   |   |   | 2,872 |   |   |   | 25,441 |   |   |   | - |   |   |   | 39,452 |   |
| Other policyholders' funds and liabilities                                |   |                 | -        |   |                     |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (953 | ) |   |   | (578 | ) |   |   | - |   |   |   | (1,531 | ) |
| Deferred income                                                           |   |                 | -        |   |                     |   | 2,399 |   |   |   | - |   |   |   | - |   |   |   | 2,399 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 2,399 |   |
| Related party liabilities                                                 |   |                 | -        |   |                     |   | 53 |   |   |   | - |   |   |   | - |   |   |   | 53 |   |   |   | 626 |   |   |   | 14 |   |   |   | - |   |   |   | 693 |   |
| Net cash provided (used) by operating activities                          |   |                 | 76,418   |   |                     |   | 240,991 |   |   |   | 10,281 |   |   |   | - |   |   |   | 327,690 |   |   |   | 1,165 |   |   |   | 28,925 |   |   |   | (225 | ) |   |   | 357,555 |   |
|                                                                      |   |                 |     |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Cash flows from investing activities:                                     |   |                 |     |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Purchases of:                                                             |   |                 |     |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Property, plant and equipment                                             |   |                 | (1       | )      |                     |   | (251,606 | ) |   |   | (22,633 | ) |   |   | - |   |   |   | (274,240 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (274,240 | ) |
| Short term investments                                                    |   |                 | -        |   |                     |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (38,243 | ) |   |   | (71,542 | ) |   |   | - |   |   |   | (109,785 | ) |
| Fixed maturities investments                                              |   |                 | -        |   |                     |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (24,350 | ) |   |   | (98,154 | ) |   |   | - |   |   |   | (122,504 | ) |
| Equity securities                                                         |   |                 | (5,746   | )      |                     |   | - |   |   |   | - |   |   |   | - |   |   |   | (5,746 | ) |   |   | (3,297 | ) |   |   | - |   |   |   | - |   |   |   | (9,043 | ) |
| Preferred stock                                                           |   |                 | -        |   |                     |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (9,305 | ) |   |   | (2,597 | ) |   |   | - |   |   |   | (11,902 | ) |
| Real estate                                                               |   |                 | -        |   |                     |   | - |   |   |   | (1,647 | ) |   |   | - |   |   |   | (1,647 | ) |   |   | (56 | ) |   |   | (81 | ) |   |   | - |   |   |   | (1,784 | ) |
| Mortgage loans                                                            |   |                 | -        |   |                     |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (1,297 | ) |   |   | (11 | ) |   |   | - |   |   |   | (1,308 | ) |
| Proceeds from sales of:                                                   |   |                 |     |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Property, plant and equipment                                             |   |                 | -        |   |                     |   | 120,790 |   |   |   | 1,367 |   |   |   | - |   |   |   | 122,157 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 122,157 |   |
| Short term investments                                                    |   |                 | -        |   |                     |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 73,980 |   |   |   | 104,481 |   |   |   | - |   |   |   | 178,461 |   |
| Fixed maturities investments                                              |   |                 | -        |   |                     |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 8,142 |   |   |   | 48,699 |   |   |   | - |   |   |   | 56,841 |   |
| Equity securities                                                         |   |                 | -        |   |                     |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 133 |   |   |   | - |   |   |   | - |   |   |   | 133 |   |
| Real estate                                                               |   |                 | -        |   |                     |   | 610 |   |   |   | - |   |   |   | - |   |   |   | 610 |   |   |   | 73 |   |   |   | - |   |   |   | - |   |   |   | 683 |   |
| Mortgage loans                                                            |   |                 | -        |   |                     |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 37 |   |   |   | 1,384 |   |   |   | - |   |   |   | 1,421 |   |
| Payments from notes and mortgage receivables                              |   |                 | -        |   |                     |   | 44 |   |   |   | 73 |   |   |   | - |   |   |   | 117 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 117 |   |
| Net cash provided (used) by investing activities                          |   |                 | (5,747   | )      |                     |   | (130,162 | ) |   |   | (22,840 | ) |   |   | - |   |   |   | (158,749 | ) |   |   | 5,817 |   |   |   | (17,821 | ) |   |   | - |   |   |   | (170,753 | ) |
|                                                                      |   | (page 1 of 2)        |     |
| (a) Balance for the period ended June 30, 2010                            |   |                 |     |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

|                                                           |   | Moving & Storage |    |   |  AMERCO Legal Group |   |
|----------------------------------------------------------------|--------|----------------------|---------|--------|--------------------------|--------|
|                                                           |   | AMERCO               |    |   | U-Haul                   |   |   | Real Estate |   |   | Elimination |   |   | Moving & StorageConsolidated |   |   | Property &CasualtyInsurance (a) |   |   | LifeInsurance (a) |   |   | Elimination |   |   |   | AMERCOConsolidated |   |
|                                                           |   | (Unaudited)          |    |
| Cash flows from financing activities:                          |   | (In thousands)       |    |
| Borrowings from credit facilities                              |   |                 | -       |   |                     |   | 100,422 |   |   |   | 34,134 |   |   |   | - |   |   |   | 134,556 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 134,556 |   |
| Principal repayments on credit facilities                      |   |                 | -       |   |                     |   | (51,853 | ) |   |   | (157,567 | ) |   |   | - |   |   |   | (209,420 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | (209,420 | ) |
| Debt issuance costs                                            |   |                 | -       |   |                     |   | (89 | ) |   |   | - |   |   |   | - |   |   |   | (89 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | (89 | ) |
| Capital lease payments                                         |   |                 | -       |   |                     |   | (8,369 | ) |   |   | - |   |   |   | - |   |   |   | (8,369 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | (8,369 | ) |
| Leveraged Employee Stock Ownership Plan - repayments from loan |   |                 | -       |   |                     |   | 592 |   |   |   | - |   |   |   | - |   |   |   | 592 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 592 |   |
| Proceeds from (repayment of) intercompany loans                |   |                 | 19,364  |   |                     |   | (156,102 | ) |   |   | 136,738 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | - |   |
| Preferred stock dividends paid                                 |   |                 | (6,482  | )      |                     |   | - |   |   |   | - |   |   |   | - |   |   |   | (6,482 | ) |   |   | - |   |   |   | - |   |   |   | 225 |   | (b) |   |   | (6,257 | ) |
| Investment contract deposits                                   |   |                 | -       |   |                     |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 5,875 |   |   |   | - |   |   |   |   | 5,875 |   |
| Investment contract withdrawals                                |   |                 | -       |   |                     |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (17,409 | ) |   |   | - |   |   |   |   | (17,409 | ) |
| Net cash provided (used) by financing activities               |   |                 | 12,882  |   |                     |   | (115,399 | ) |   |   | 13,305 |   |   |   | - |   |   |   | (89,212 | ) |   |   | - |   |   |   | (11,534 | ) |   |   | 225 |   |   |   |   | (100,521 | ) |
|                                                           |   |                 |    |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Effects of exchange rate on cash                               |   |                 | -       |   |                     |   | (569 | ) |   |   | - |   |   |   | - |   |   |   | (569 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | (569 | ) |
|                                                           |   |                 |    |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Increase (decrease) in cash and cash equivalents               |   |                 | 83,553  |   |                     |   | (5,139 | ) |   |   | 746 |   |   |   | - |   |   |   | 79,160 |   |   |   | 6,982 |   |   |   | (430 | ) |   |   | - |   |   |   |   | 85,712 |   |
| Cash and cash equivalents at beginning of period               |   |                 | 100,460 |   |                     |   | 107,241 |   |   |   | 4 |   |   |   | - |   |   |   | 207,705 |   |   |   | 22,126 |   |   |   | 14,287 |   |   |   | - |   |   |   |   | 244,118 |   |
| Cash and cash equivalents at end of period                     |   | $                    | 184,013 |   |                     | $      | 102,102 |   |   | $ | 750 |   |   | $ | - |   |   | $ | 286,865 |   |   | $ | 29,108 |   |   | $ | 13,857 |   |   | $ | - |   |   |   | $ | 329,830 |   |
|                                                           |   | (page 2 of 2)        |    |
| (a) Balance for the period ended June 30, 2010                 |   |                 |    |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (b) Eliminate preferred stock dividends paid to affiliates     |   |                 |    |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

|                                                                  |   | Moving & Storage |    |   |  AMERCO Legal Group |   |
|-----------------------------------------------------------------------|--------|----------------------|---------|--------|--------------------------|--------|
|                                                                  |   | AMERCO               |    |   | U-Haul                   |   |   | Real Estate |   |   | Elimination |   |   | Moving & StorageConsolidated |   |   | Property &CasualtyInsurance (a) |   |   | LifeInsurance (a) |   |   | Elimination |   |   | AMERCOConsolidated |   |
|                                                                  |   | (Unaudited)          |    |
| Cash flows from operating activities:                                 |   | (In thousands)       |    |
| Net earnings                                                          |   | $                    | 67,152  |   |                     | $      | 27,556 |   |   | $ | 5,484 |   |   | $ | (33,040 | ) |   | $ | 67,152 |   |   | $ | 1,982 |   |   | $ | 4,280 |   |   | $ | (6,291 | ) |   | $ | 67,123 |   |
| Earnings from consolidated entities                                   |   |                 | (39,302 | )      |                     |   | - |   |   |   | - |   |   |   | 33,040 |   |   |   | (6,262 | ) |   |   | - |   |   |   | - |   |   |   | 6,262 |   |   |   | - |   |
| Adjustments to reconcile net earnings to cash provided by operations: |   |                 |    |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Depreciation                                                          |   |                 | 9       |   |                     |   | 111,273 |   |   |   | 6,497 |   |   |   | - |   |   |   | 117,779 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 117,779 |   |
| Amortization of deferred policy acquisition costs                     |   |                 | -       |   |                     |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 4,213 |   |   |   | - |   |   |   | 4,213 |   |
| Change in allowance for losses on trade receivables                   |   |                 | -       |   |                     |   | 398 |   |   |   | - |   |   |   | - |   |   |   | 398 |   |   |   | - |   |   |   | (1 | ) |   |   | - |   |   |   | 397 |   |
| Change in allowance for losses on mortgage notes                      |   |                 | -       |   |                     |   | (6 | ) |   |   | - |   |   |   | - |   |   |   | (6 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (6 | ) |
| Change in allowance for inventory reserve                             |   |                 | -       |   |                     |   | 1,344 |   |   |   | - |   |   |   | - |   |   |   | 1,344 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 1,344 |   |
| Net (gain)  loss on sale of real and personal property      |   |                 | -       |   |                     |   | (1,809 | ) |   |   | 37 |   |   |   | - |   |   |   | (1,772 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (1,772 | ) |
| Net (gain) loss on sale of investments                                |   |                 | -       |   |                     |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 27 |   |   |   | (428 | ) |   |   | - |   |   |   | (401 | ) |
| Deferred income taxes                                                 |   |                 | 38,038  |   |                     |   | - |   |   |   | - |   |   |   | - |   |   |   | 38,038 |   |   |   | 870 |   |   |   | 1,523 |   |   |   | - |   |   |   | 40,431 |   |
| Net change in other operating assets and liabilities:                 |   |                 |    |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Reinsurance recoverables and trade receivables                        |   |                 | -       |   |                     |   | 1,637 |   |   |   | - |   |   |   | - |   |   |   | 1,637 |   |   |   | 11,826 |   |   |   | (1,546 | ) |   |   | - |   |   |   | 11,917 |   |
| Inventories                                                           |   |                 | -       |   |                     |   | 7,334 |   |   |   | - |   |   |   | - |   |   |   | 7,334 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 7,334 |   |
| Prepaid expenses                                                      |   |                 | (660    | )      |                     |   | (1,842 | ) |   |   | (426 | ) |   |   | - |   |   |   | (2,928 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (2,928 | ) |
| Capitalization of deferred policy acquisition costs                   |   |                 | -       |   |                     |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (6,533 | ) |   |   | - |   |   |   | (6,533 | ) |
| Other assets                                                          |   |                 | (303    | )      |                     |   | 6,439 |   |   |   | 804 |   |   |   | - |   |   |   | 6,940 |   |   |   | 131 |   |   |   | (73 | ) |   |   | - |   |   |   | 6,998 |   |
| Related party assets                                                  |   |                 | 339     |   |                     |   | 6,945 |   |   |   | (17 | ) |   |   | - |   |   |   | 7,267 |   |   |   | 214 |   |   |   | - |   |   |   | - |   |   |   | 7,481 |   |
| Accounts payable and accrued expenses                                 |   |                 | (1,027  | )      |                     |   | 3,589 |   |   |   | (2,688 | ) |   |   | - |   |   |   | (126 | ) |   |   | - |   |   |   | (5,767 | ) |   |   | - |   |   |   | (5,893 | ) |
| Policy benefits and losses, claims and loss expenses payable          |   |                 | -       |   |                     |   | 20,382 |   |   |   | - |   |   |   | - |   |   |   | 20,382 |   |   |   | (13,652 | ) |   |   | 5,261 |   |   |   | - |   |   |   | 11,991 |   |
| Other policyholders' funds and liabilities                            |   |                 | -       |   |                     |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (3,210 | ) |   |   | (101 | ) |   |   | - |   |   |   | (3,311 | ) |
| Deferred income                                                       |   |                 | -       |   |                     |   | (1,946 | ) |   |   | - |   |   |   | - |   |   |   | (1,946 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (1,946 | ) |
| Related party liabilities                                             |   |                 | -       |   |                     |   | (121 | ) |   |   | - |   |   |   | - |   |   |   | (121 | ) |   |   | (491 | ) |   |   | 61 |   |   |   | - |   |   |   | (551 | ) |
| Net cash provided (used) by operating activities                      |   |                 | 64,246  |   |                     |   | 181,173 |   |   |   | 9,691 |   |   |   | - |   |   |   | 255,110 |   |   |   | (2,303 | ) |   |   | 889 |   |   |   | (29 | ) |   |   | 253,667 |   |
|                                                                  |   |                 |    |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Cash flows from investing activities:                                 |   |                 |    |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Purchases of:                                                         |   |                 |    |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Property, plant and equipment                                         |   |                 | (2      | )      |                     |   | (163,134 | ) |   |   | (12,691 | ) |   |   | - |   |   |   | (175,827 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (175,827 | ) |
| Short term investments                                                |   |                 | -       |   |                     |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (49,589 | ) |   |   | (94,717 | ) |   |   | - |   |   |   | (144,306 | ) |
| Fixed maturities investments                                          |   |                 | -       |   |                     |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (17,753 | ) |   |   | (59,353 | ) |   |   | - |   |   |   | (77,106 | ) |
| Real estate                                                           |   |                 | -       |   |                     |   | (204 | ) |   |   | (308 | ) |   |   | - |   |   |   | (512 | ) |   |   | 46 |   |   |   | - |   |   |   | - |   |   |   | (466 | ) |
| Mortgage loans                                                        |   |                 | -       |   |                     |   | (424 | ) |   |   | - |   |   |   | - |   |   |   | (424 | ) |   |   | (50 | ) |   |   | (51 | ) |   |   | - |   |   |   | (525 | ) |
| Proceeds from sales of:                                               |   |                 |    |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Property, plant and equipment                                         |   |                 | -       |   |                     |   | 87,862 |   |   |   | 1,080 |   |   |   | - |   |   |   | 88,942 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 88,942 |   |
| Short term investments                                                |   |                 | -       |   |                     |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 58,457 |   |   |   | 100,850 |   |   |   | - |   |   |   | 159,307 |   |
| Fixed maturities investments                                          |   |                 | -       |   |                     |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 15,036 |   |   |   | 68,631 |   |   |   | - |   |   |   | 83,667 |   |
| Preferred stock                                                       |   |                 | -       |   |                     |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 1,724 |   |   |   | 512 |   |   |   | - |   |   |   | 2,236 |   |
| Mortgage loans                                                        |   |                 | -       |   |                     |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 35 |   |   |   | 4,018 |   |   |   | - |   |   |   | 4,053 |   |
| Payments from notes and mortgage receivables                          |   |                 | -       |   |                     |   | 123 |   |   |   | 341 |   |   |   | - |   |   |   | 464 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 464 |   |
| Net cash provided (used) by investing activities                      |   |                 | (2      | )      |                     |   | (75,777 | ) |   |   | (11,578 | ) |   |   | - |   |   |   | (87,357 | ) |   |   | 7,906 |   |   |   | 19,890 |   |   |   | - |   |   |   | (59,561 | ) |
|                                                                  |   | (page 1 of 2)        |    |
| (a) Balance for the period ended June 30, 2009                        |   |                 |    |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

|                                                           |   | Moving & Storage |    |   |  AMERCO Legal Group |   |
|----------------------------------------------------------------|--------|----------------------|---------|--------|--------------------------|--------|
|                                                           |   | AMERCO               |    |   | U-Haul                   |   |   | Real Estate |   |   | Elimination |   |   | Moving & StorageConsolidated |   |   | Property &CasualtyInsurance (a) |   |   | LifeInsurance (a) |   |   | Elimination |   |   |   | AMERCOConsolidated |   |
|                                                           |   | (Unaudited)          |    |
| Cash flows from financing activities:                          |   | (In thousands)       |    |
| Borrowings from credit facilities                              |   |                 | -       |   |                     |   | 25,712 |   |   |   | 26,209 |   |   |   | - |   |   |   | 51,921 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 51,921 |   |
| Principal repayments on credit facilities                      |   |                 | -       |   |                     |   | (59,660 | ) |   |   | (13,035 | ) |   |   | - |   |   |   | (72,695 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | (72,695 | ) |
| Debt issuance costs                                            |   |                 | -       |   |                     |   | (100 | ) |   |   | (177 | ) |   |   | - |   |   |   | (277 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | (277 | ) |
| Capital lease payments                                         |   |                 | -       |   |                     |   | (1,168 | ) |   |   | - |   |   |   | - |   |   |   | (1,168 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | (1,168 | ) |
| Leveraged Employee Stock Ownership Plan - repayments from loan |   |                 | -       |   |                     |   | 533 |   |   |   | - |   |   |   | - |   |   |   | 533 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 533 |   |
| Proceeds from (repayment of) intercompany loans                |   |                 | (57,706 | )      |                     |   | 68,816 |   |   |   | (11,110 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | - |   |
| Preferred stock dividends paid                                 |   |                 | (6,482  | )      |                     |   | - |   |   |   | - |   |   |   | - |   |   |   | (6,482 | ) |   |   | - |   |   |   | - |   |   |   | 29 |   | (b) |   |   | (6,453 | ) |
| Investment contract deposits                                   |   |                 | -       |   |                     |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 5,564 |   |   |   | - |   |   |   |   | 5,564 |   |
| Investment contract withdrawals                                |   |                 | -       |   |                     |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (28,417 | ) |   |   | - |   |   |   |   | (28,417 | ) |
| Net cash provided (used) by financing activities               |   |                 | (64,188 | )      |                     |   | 34,133 |   |   |   | 1,887 |   |   |   | - |   |   |   | (28,168 | ) |   |   | - |   |   |   | (22,853 | ) |   |   | 29 |   |   |   |   | (50,992 | ) |
|                                                           |   |                 |    |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Effects of exchange rate on cash                               |   |                 | -       |   |                     |   | 1,250 |   |   |   | - |   |   |   | - |   |   |   | 1,250 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 1,250 |   |
|                                                           |   |                 |    |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Increase (decrease) in cash and cash equivalents               |   |                 | 56      |   |                     |   | 140,779 |   |   |   | - |   |   |   | - |   |   |   | 140,835 |   |   |   | 5,603 |   |   |   | (2,074 | ) |   |   | - |   |   |   |   | 144,364 |   |
| Cash and cash equivalents at beginning of period               |   |                 | 38      |   |                     |   | 213,040 |   |   |   | - |   |   |   | - |   |   |   | 213,078 |   |   |   | 19,197 |   |   |   | 8,312 |   |   |   | - |   |   |   |   | 240,587 |   |
| Cash and cash equivalents at end of period                     |   | $                    | 94      |   |                     | $      | 353,819 |   |   | $ | - |   |   | $ | - |   |   | $ | 353,913 |   |   | $ | 24,800 |   |   | $ | 6,238 |   |   | $ | - |   |   |   | $ | 384,951 |   |
|                                                           |   | (page 2 of 2)        |    |
| (a) Balance for the period ended June 30, 2009                 |   |                 |    |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (b) Eliminate preferred stock dividends paid to affiliate      |   |                 |    |   |                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

|                                                              |   | United States                              |      |   | Canada |   |    | Consolidated |   |
|-------------------------------------------------------------------|--------|--------------------------------------------|-----------|--------|--------|--------|---------|--------------|--------|
|                                                              |   | (Unaudited)                                |      |
|                                                              |   | (All amounts are in thousands of U.S. $'s) |      |
| Quarter ended September 30, 2010                                  |   |                                       |      |   |   |   |    |         |   |
| Total revenues                                                    |   | $                                          | 596,037   |   |   | $      | 40,939  |         |   | $ | 636,976 |   |
| Depreciation and amortization, net of (gains) losses on disposals |   |                                       | 44,037    |   |   |   | 1,996   |         |   |   | 46,033 |   |
| Interest expense                                                  |   |                                       | 21,601    |   |   |   | 187     |         |   |   | 21,788 |   |
| Pretax earnings                                                   |   |                                       | 129,062   |   |   |   | 7,271   |         |   |   | 136,333 |   |
| Income tax expense                                                |   |                                       | 48,972    |   |   |   | 2,142   |         |   |   | 51,114 |   |
| Identifiable assets                                               |   |                                       | 3,804,861 |   |   |   | 134,539 |         |   |   | 3,939,400 |   |
|                                                              |   |                                       |      |   |   |   |    |         |   |   |   |   |
| Quarter ended September 30, 2009                                  |   |                                       |      |   |   |   |    |         |   |   |   |   |
| Total revenues                                                    |   | $                                          | 536,621   |   |   | $      | 37,303  |         |   | $ | 573,924 |   |
| Depreciation and amortization, net of (gains) losses on disposals |   |                                       | 57,548    |   |   |   | 1,538   |         |   |   | 59,086 |   |
| Interest expense                                                  |   |                                       | 23,784    |   |   |   | 154     |         |   |   | 23,938 |   |
| Pretax earnings                                                   |   |                                       | 66,458    |   |   |   | 5,422   |         |   |   | 71,880 |   |
| Income tax expense                                                |   |                                       | 25,345    |   |   |   | 1,844   |         |   |   | 27,189 |   |
| Identifiable assets                                               |   |                                       | 3,814,477 |   |   |   | 115,427 |         |   |   | 3,929,904 |   |

|                                                              |   | United States                              |      |   | Canada |   |    | Consolidated |   |
|-------------------------------------------------------------------|--------|--------------------------------------------|-----------|--------|--------|--------|---------|--------------|--------|
|                                                              |   | (Unaudited)                                |      |
|                                                              |   | (All amounts are in thousands of U.S. $'s) |      |
| Six months ended September 30, 2010                               |   |                                       |      |   |   |   |    |         |   |
| Total revenues                                                    |   | $                                          | 1,145,820 |   |   | $      | 77,103  |         |   | $ | 1,222,923 |   |
| Depreciation and amortization, net of (gains) losses on disposals |   |                                       | 89,074    |   |   |   | 3,741   |         |   |   | 92,815 |   |
| Interest expense                                                  |   |                                       | 42,911    |   |   |   | 341     |         |   |   | 43,252 |   |
| Pretax earnings                                                   |   |                                       | 228,944   |   |   |   | 14,034  |         |   |   | 242,978 |   |
| Income tax expense                                                |   |                                       | 87,123    |   |   |   | 4,134   |         |   |   | 91,257 |   |
| Identifiable assets                                               |   |                                       | 3,804,861 |   |   |   | 134,539 |         |   |   | 3,939,400 |   |
|                                                              |   |                                       |      |   |   |   |    |         |   |   |   |   |
| Six months ended September 30, 2009                               |   |                                       |      |   |   |   |    |         |   |   |   |   |
| Total revenues                                                    |   | $                                          | 1,027,508 |   |   | $      | 67,075  |         |   | $ | 1,094,583 |   |
| Depreciation and amortization, net of (gains) losses on disposals |   |                                       | 116,935   |   |   |   | 3,285   |         |   |   | 120,220 |   |
| Interest expense                                                  |   |                                       | 46,865    |   |   |   | 294     |         |   |   | 47,159 |   |
| Pretax earnings                                                   |   |                                       | 99,529    |   |   |   | 8,326   |         |   |   | 107,855 |   |
| Income tax expense                                                |   |                                       | 37,900    |   |   |   | 2,832   |         |   |   | 40,732 |   |
| Identifiable assets                                               |   |                                       | 3,814,477 |   |   |   | 115,427 |         |   |   | 3,929,904 |   |

----

|                                                |   | Quarter Ended September 30, |   |
|-----------------------------------------------------|--------|-----------------------------|--------|
|                                                |   | 2010                        |   |   | 2009 |   |
|                                                |   | (Unaudited)                 |   |
|                                                |   | (In thousands)              |   |
|                                                |   |                        |   |   |   |   |
| Service cost for benefits earned during the period  |   | $                           | 115    |   |   | $ | 105 |   |
| Interest cost on accumulated postretirement benefit |   |                        | 142    |   |   |   | 150 |   |
| Other components                                    |   |                        | (10    | ) |   |   | (26 | ) |
| Net periodic postretirement benefit cost            |   | $                           | 247    |   |   | $ | 229 |   |

|                                                |   | Six Months Ended September 30, |   |
|-----------------------------------------------------|--------|--------------------------------|--------|
|                                                |   | 2010                           |   |   | 2009 |   |
|                                                |   | (Unaudited)                    |   |
|                                                |   | (In thousands)                 |   |
|                                                |   |                           |   |   |   |   |
| Service cost for benefits earned during the period  |   | $                              | 230    |   |   | $ | 210 |   |
| Interest cost on accumulated postretirement benefit |   |                           | 284    |   |   |   | 301 |   |
| Other components                                    |   |                           | (19    | ) |   |   | (52 | ) |
| Net periodic postretirement benefit cost            |   | $                              | 495    |   |   | $ | 459 |   |

----

|                                                 |   | Total          |    |   | Quoted Prices in Active Markets for Identical Assets (Level 1) |   |    | Significant Other Observable Inputs (Level 2) |   |   | Significant Unobservable Inputs (Level 3) |   |
|------------------------------------------------------|--------|----------------|---------|--------|----------------------------------------------------------------|--------|---------|-----------------------------------------------|--------|--------|-------------------------------------------|--------|
|                                                 |   | (Unaudited)    |    |
|                                                 |   | (In thousands) |    |
| Assets                                               |   |           |    |   |                                                           |   |    |                                          |   |   |                                      |   |
| Short-term investments                               |   | $              | 319,017 |   |                                                           | $      | 319,017 |                                          |   | $      | -                                         |   |   | $ | - |   |
| Fixed maturities - available for sale                |   |           | 598,411 |   |                                                           |   | 438,133 |                                          |   |   | 157,264                                   |   |   |   | 3,014 |   |
| Preferred stock                                      |   |           | 29,650  |   |                                                           |   | 29,650  |                                          |   |   | -                                         |   |   |   | - |   |
| Common stock                                         |   |           | 22,860  |   |                                                           |   | 22,860  |                                          |   |   | -                                         |   |   |   | - |   |
| Less: Preferred stock of AMERCO held by subsidiaries |   |           | (7,570  | )      |                                                           |   | (7,570  | )                                             |   |   | -                                         |   |   |   | - |   |
| Total                                                |   | $              | 962,368 |   |                                                           | $      | 802,090 |                                          |   | $      | 157,264                                   |   |   | $ | 3,014 |   |

| Liabilities                               |   |   |   |   |   |   |   |   |   |   |   |   |
|-------------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
| Guaranteed residual values of TRAC leases |   | $      | -      |   |   | $      | -      |   |   | $      | -      |   |   | $ | - |   |
| Derivatives                               |   |   | 73,654 |   |   |   | -      |   |   |   | 73,654 |   |   |   | - |   |
| Total                                     |   | $      | 73,654 |   |   | $      | -      |   |   | $      | 73,654 |   |   | $ | - |   |

----

|                                                         |   | Fixed Maturities        |   |   |                    |   |
|--------------------------------------------------------------|--------|-------------------------|--------|--------|-------------------------|--------|
|                                                         |   | Auction Rate Securities |   |   | Asset Backed Securities |   |   | Total |   |
|                                                         |   | (Unaudited)             |   |
|                                                         |   | (In thousands)          |   |
| Balance at March 31, 2010                                    |   | $                       | 1,673  |   |                    | $      | 1,615 |   |   | $ | 3,288 |   |
|                                                         |   |                    |   |   |                    |   |   |   |   |   |   |   |
| Transfers into Level 3 (a)                                   |   |                    | 43     |   |                    |   | - |   |   |   | 43 |   |
| Fixed Maturities - Auction Rate Securities gain (unrealized) |   |                    | 2      |   |                    |   | - |   |   |   | 2 |   |
| Fixed Maturities - Asset Backed Securities loss (unrealized) |   |                    | -      |   |                    |   | (160 | ) |   |   | (160 | ) |
| Securities called at par                                     |   |                    | -      |   |                    |   | (95 | ) |   |   | (95 | ) |
| Balance at June 30, 2010                                     |   | $                       | 1,718  |   |                    | $      | 1,360 |   |   | $ | 3,078 |   |
|                                                         |   |                    |   |   |                    |   |   |   |   |   |   |   |
| Fixed Maturities - Auction Rate Securities loss (unrealized) |   |                    | (24    | )      |                    |   | - |   |   |   | (24 | ) |
| Fixed Maturities - Asset Backed Securities loss (unrealized) |   |                    | -      |   |                    |   | (40 | ) |   |   | (40 | ) |
| Balance at September 30, 2010                                |   | $                       | 1,694  |   |                    | $      | 1,320 |   |   | $ | 3,014 |   |

----

Management’s 

| ·   | Moving and Storage, comprised of AMERCO, U-Haul, and Real Estate and the subsidiaries of U-Haul and Real Estate, |
|--------------------|------------------------------------------------------------------------------------------------------------------|

| ·   | Property and Casualty Insurance, comprised of RepWest and its subsidiaries and ARCOA, and |
|--------------------|-------------------------------------------------------------------------------------------|

| ·   | Life Insurance, comprised of Oxford and its subsidiaries. |
|--------------------|-----------------------------------------------------------|

----

----

----

----

----

|                                                          |   | Quarter Ended September 30, |    |
|---------------------------------------------------------------|--------|-----------------------------|---------|
|                                                          |   | 2010                        |    |   | 2009 |   |
|                                                          |   | (Unaudited)                 |    |
|                                                          |   | (In thousands)              |    |
|  Self-moving equipment rentals                           |   | $                           | 467,128 |   |   | $ | 427,203 |   |
|  Self-storage revenues                                   |   |                        | 30,647  |   |   |   | 27,412 |   |
|  Self-moving and self-storage products and service sales |   |                        | 56,821  |   |   |   | 55,522 |   |
|  Property management fees                                |   |                        | 4,580   |   |   |   | 4,478 |   |
|  Life insurance premiums                                 |   |                        | 40,022  |   |   |   | 28,738 |   |
|  Property and casualty insurance premiums                |   |                        | 8,300   |   |   |   | 7,046 |   |
|  Net investment and interest income                      |   |                        | 12,874  |   |   |   | 12,539 |   |
|  Other revenue                                           |   |                        | 16,604  |   |   |   | 10,986 |   |
|  Consolidated revenue                                    |   | $                           | 636,976 |   |   | $ | 573,924 |   |

----

|                                  |   | Quarter Ended September 30, |    |
|---------------------------------------|--------|-----------------------------|---------|
|                                  |   | 2010                        |    |   | 2009 |   |
|                                  |   | (Unaudited)                 |    |
|                                  |   | (In thousands)              |    |
|  Moving and storage              |   |                        |    |   |   |   |
|  Revenues                        |   | $                           | 582,632 |   |   | $ | 532,412 |   |
|  Earnings from operations        |   |                        | 156,444 |   |   |   | 93,889 |   |
|  Property and casualty insurance |   |                        |    |   |   |   |   |   |
|  Revenues                        |   |                        | 10,396  |   |   |   | 8,859 |   |
|  Earnings from operations        |   |                        | 2,007   |   |   |   | 1,623 |   |
|  Life insurance                  |   |                        |    |   |   |   |   |   |
|  Revenues                        |   |                        | 45,399  |   |   |   | 33,735 |   |
|  Earnings from operations        |   |                        | 3,368   |   |   |   | 4,011 |   |
|  Eliminations                    |   |                        |    |   |   |   |   |   |
|  Revenues                        |   |                        | (1,451  | ) |   |   | (1,082 | ) |
|  Earnings from operations        |   |                        | (3,698  | ) |   |   | (3,705 | ) |
|  Consolidated results            |   |                        |    |   |   |   |   |   |
|  Revenues                        |   |                        | 636,976 |   |   |   | 573,924 |   |
|  Earnings from operations        |   |                        | 158,121 |   |   |   | 95,818 |   |

----

|                                                          |   | Quarter Ended September 30, |    |
|---------------------------------------------------------------|--------|-----------------------------|---------|
|                                                          |   | 2010                        |    |   | 2009 |   |
|                                                          |   | (Unaudited)                 |    |
|                                                          |   | (In thousands)              |    |
|  Self-moving equipment rentals                           |   | $                           | 467,797 |   |   | $ | 427,637 |   |
|  Self-storage revenues                                   |   |                        | 30,647  |   |   |   | 27,412 |   |
|  Self-moving and self-storage products and service sales |   |                        | 56,821  |   |   |   | 55,522 |   |
|  Property management fees                                |   |                        | 4,580   |   |   |   | 4,478 |   |
|  Net investment and interest income                      |   |                        | 6,425   |   |   |   | 6,821 |   |
|  Other revenue                                           |   |                        | 16,362  |   |   |   | 10,542 |   |
|  Moving and Storage revenue                              |   | $                           | 582,632 |   |   | $ | 532,412 |   |

|                                       |   | Quarter Ended September 30,           |   |
|--------------------------------------------|--------|---------------------------------------|--------|
|                                       |   | 2010                                  |   |   | 2009 |   |
|                                       |   | (Unaudited)                           |   |
|                                       |   | (In thousands, except occupancy rate) |   |
| Room count as of September 30              |   |                                  | 148    |   |   |   | 141 |   |
| Square footage as of September 30          |   |                                  | 12,032 |   |   |   | 11,412 |   |
| Average number of rooms occupied           |   |                                  | 115    |   |   |   | 108 |   |
| Average occupancy rate based on room count |   |                                  | 77.9   | % |   |   | 77.2 | % |
| Average square footage occupied            |   |                                  | 9,576  |   |   |   | 8,975 |   |

----

----

|                                                          |   | Six Months Ended September 30, |      |
|---------------------------------------------------------------|--------|--------------------------------|-----------|
|                                                          |   | 2010                           |      |   | 2009 |   |
|                                                          |   | (Unaudited)                    |      |
|                                                          |   | (In thousands)                 |      |
|  Self-moving equipment rentals                           |   | $                              | 886,591   |   |   | $ | 800,144 |   |
|  Self-storage revenues                                   |   |                           | 58,874    |   |   |   | 54,416 |   |
|  Self-moving and self-storage products and service sales |   |                           | 120,111   |   |   |   | 113,344 |   |
|  Property management fees                                |   |                           | 9,116     |   |   |   | 8,928 |   |
|  Life insurance premiums                                 |   |                           | 77,825    |   |   |   | 56,342 |   |
|  Property and casualty insurance premiums                |   |                           | 14,479    |   |   |   | 13,261 |   |
|  Net investment and interest income                      |   |                           | 26,229    |   |   |   | 26,219 |   |
|  Other revenue                                           |   |                           | 29,698    |   |   |   | 21,929 |   |
|  Consolidated revenue                                    |   | $                              | 1,222,923 |   |   | $ | 1,094,583 |   |

----

|                                  |   | Six Months Ended September 30, |      |
|---------------------------------------|--------|--------------------------------|-----------|
|                                  |   | 2010                           |      |   | 2009 |   |
|                                  |   | (Unaudited)                    |      |
|                                  |   | (In thousands)                 |      |
|  Moving and storage              |   |                           |      |   |   |   |
|  Revenues                        |   | $                              | 1,117,790 |   |   | $ | 1,012,085 |   |
|  Earnings from operations        |   |                           | 282,879   |   |   |   | 151,666 |   |
|  Property and casualty insurance |   |                           |      |   |   |   |   |   |
|  Revenues                        |   |                           | 18,490    |   |   |   | 16,910 |   |
|  Earnings from operations        |   |                           | 3,404     |   |   |   | 3,050 |   |
|  Life insurance                  |   |                           |      |   |   |   |   |   |
|  Revenues                        |   |                           | 89,241    |   |   |   | 67,607 |   |
|  Earnings from operations        |   |                           | 6,771     |   |   |   | 6,589 |   |
|  Eliminations                    |   |                           |      |   |   |   |   |   |
|  Revenues                        |   |                           | (2,598    | ) |   |   | (2,019 | ) |
|  Earnings from operations        |   |                           | (6,824    | ) |   |   | (6,291 | ) |
|  Consolidated results            |   |                           |      |   |   |   |   |   |
|  Revenues                        |   |                           | 1,222,923 |   |   |   | 1,094,583 |   |
|  Earnings from operations        |   |                           | 286,230   |   |   |   | 155,014 |   |

----

|                                                          |   | Six Months Ended September 30, |      |
|---------------------------------------------------------------|--------|--------------------------------|-----------|
|                                                          |   | 2010                           |      |   | 2009 |   |
|                                                          |   | (Unaudited)                    |      |
|                                                          |   | (In thousands)                 |      |
|  Self-moving equipment rentals                           |   | $                              | 887,677   |   |   | $ | 800,892 |   |
|  Self-storage revenues                                   |   |                           | 58,874    |   |   |   | 54,416 |   |
|  Self-moving and self-storage products and service sales |   |                           | 120,111   |   |   |   | 113,344 |   |
|  Property management fees                                |   |                           | 9,116     |   |   |   | 8,928 |   |
|  Net investment and interest income                      |   |                           | 12,715    |   |   |   | 13,430 |   |
|  Other revenue                                           |   |                           | 29,297    |   |   |   | 21,075 |   |
|  Moving and Storage revenue                              |   | $                              | 1,117,790 |   |   | $ | 1,012,085 |   |

|                                       |   | Six Months Ended September 30,        |   |
|--------------------------------------------|--------|---------------------------------------|--------|
|                                       |   | 2010                                  |   |   | 2009 |   |
|                                       |   | (Unaudited)                           |   |
|                                       |   | (In thousands, except occupancy rate) |   |
| Room count as of September 30              |   |                                  | 148    |   |   |   | 141 |   |
| Square footage as of September 30          |   |                                  | 12,032 |   |   |   | 11,412 |   |
| Average number of rooms occupied           |   |                                  | 112    |   |   |   | 107 |   |
| Average occupancy rate based on room count |   |                                  | 76.8   | % |   |   | 76.5 | % |
| Average square footage occupied            |   |                                  | 9,398  |   |   |   | 8,836 |   |

----

----

|                      |   | Moving & Storage |      |   | Property and Casualty Insurance (a) |   |    | Life Insurance (a) |   |
|---------------------------|--------|----------------------|-----------|--------|-------------------------------------|--------|---------|--------------------|--------|
|                      |   | (Unaudited)          |      |
|                      |   | (In thousands)       |      |
| Cash and cash equivalents |   | $                    | 286,865   |   |                                | $      | 29,108  |               |   | $ | 13,857 |   |
| Other financial assets    |   |                 | 354,574   |   |                                |   | 376,531 |               |   |   | 585,109 |   |
| Debt obligations          |   |                 | 1,278,555 |   |                                |   | -       |               |   |   | - |   |
|                      |   |                 |      |   |                                |   |    |               |   |   |   |   |
| (a) As of June 30, 2010   |   |                 |      |   |                                |   |    |               |   |   |   |   |

----

----

----

----

Item 3.

| Notional Amount                  |    | Fair Value |     | Effective Date |   | Expiration Date |   | Fixed Rate |   |       | Floating Rate |
|----------------------------------|---------|------------|----------|----------------|--------|-----------------|--------|------------|--------|------------|---------------|
| (Unaudited)                      |
| (In thousands)                   |
| $                                | 61,569  |       | (a), (b) |           |   | (3,598          | )      | 5/10/2006  |   | 4/10/2012  |          |   | 5.06 | % |   | 1 Month LIBOR |
|                             | 62,653  |       | (a), (b) |           |   | (5,281          | )      | 10/10/2006 |   | 10/10/2012 |          |   | 5.57 | % |   | 1 Month LIBOR |
|                             | 21,574  |       | (a)      |           |   | (2,457          | )      | 7/10/2006  |   | 7/10/2013  |          |   | 5.67 | % |   | 1 Month LIBOR |
|                             | 259,167 |       | (a)      |           |   | (53,835         | )      | 8/18/2006  |   | 8/10/2018  |          |   | 5.43 | % |   | 1 Month LIBOR |
|                             | 13,950  |       | (a)      |           |   | (1,673          | )      | 2/12/2007  |   | 2/10/2014  |          |   | 5.24 | % |   | 1 Month LIBOR |
|                             | 9,394   |       | (a)      |           |   | (1,085          | )      | 3/12/2007  |   | 3/10/2014  |          |   | 4.99 | % |   | 1 Month LIBOR |
|                             | 9,400   |       | (a)      |           |   | (1,081          | )      | 3/12/2007  |   | 3/10/2014  |          |   | 4.99 | % |   | 1 Month LIBOR |
|                             | 12,250  |       | (a), (b) |           |   | (964            | )      | 8/15/2008  |   | 6/15/2015  |          |   | 3.62 | % |   | 1 Month LIBOR |
|                             | 13,063  |       | (a)      |           |   | (1,150          | )      | 8/29/2008  |   | 7/10/2015  |          |   | 4.04 | % |   | 1 Month LIBOR |
|                             | 19,487  |       | (a)      |           |   | (1,859          | )      | 9/30/2008  |   | 9/10/2015  |          |   | 4.16 | % |   | 1 Month LIBOR |
|                             | 11,063  |       | (a), (b) |           |   | (340            | )      | 3/30/2009  |   | 4/15/2016  |          |   | 2.24 | % |   | 1 Month LIBOR |
|                             | 14,501  |       | (a)      |           |   | (331            | )      | 8/15/2010  |   | 7/15/2017  |          |   | 2.15 | % |   | 1 Month LIBOR |
|                             |    |       |     |           |   |            |   |       |   |       |          |   |   |   |   |   |
| (a) interest rate swap agreement |    |       |     |           |   |            |   |       |   |       |          |   |   |
| (b) forward swap                 |    |       |     |           |   |            |   |       |

----

Item 4.

----

Item 1. 

Item 1A

tem 

Item

tem

Item 5

Item

| Exhibit Number |   | Description                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | Page or Method of Filing                                                                                                    |
|----------------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------------------------------------------------------------------------------------------------------|
| 3.1            |   | Restated Articles of Incorporation of AMERCO                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   | Incorporated by reference to AMERCO’s Registration Statement on form S-4 filed March 30, 2004, file no. 1-11255  |
| 3.2            |   | Restated By-Laws of AMERCO                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   | Incorporated by reference to AMERCO’s Current Report on Form 8-K filed on September 10, 2010, file no. 1-11255   |
| 10.1           |   | 2010-1 BOX TRUCK BASE INDENTURE, dated as of October 1, 2010, among 2010 U-HAUL S FLEET, LLC, a special purpose limited liability company established under the laws of Nevada, 2010 TM-1, LLC, a special purpose limited liability company established under the laws of Nevada, 2010 DC-1, LLC, a special purpose limited liability company established under the laws of Nevada, and 2010 TT-1, LLC, a special purpose limited liability company established under the laws of Nevada, as co-issuers (each an “Issuer” and collectively, the “Issuers”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association, as trustee (in such capacity, the “Trustee”).  |   | Filed herewith                                                                                                              |
| 10.2           |   | Schedule I to 2010-1 Base Indenture – Definitions List                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   | Filed herewith                                                                                                              |

----

| 10.3 |   | SERIES 2010-1 SUPPLEMENT, dated as of October 1, 2010 (this “Series Supplement”), among 2010 U-HAUL S FLEET, LLC, a special purpose limited liability company established under the laws of Nevada, 2010 TM-1, LLC, a special purpose limited liability company established under the laws of Nevada, 2010 DC-1, LLC, a special purpose limited liability company established under the laws of Nevada, and 2010 TT-1, LLC, a special purpose limited liability company established under the laws of Nevada, as co-issuers (each an “Issuer” and collectively, the “Issuers”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association, as trustee (in such capacity, and together with its successors in trust thereunder as provided in the 2010-1 Base Indenture referred to below, the “Trustee”) and as securities intermediary, to the 2010-1 Box Truck Base Indenture, dated as of the date hereof, among the Issuers and the Trustee (as amended, modified, restated or supplemented from time to time, exclusive of Series Supplements creating a new Series of Notes, the “2010-1 Base Indenture”).  |   | Filed herewith     |
|------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|
| 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, Principal Financial Officer and 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, Principal Financial Officer and Chief Accounting Officer of AMERCO pursuant to Section 906 of the Sarbanes-Oxley Act of 2002                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | Furnished herewith |

----

----