| R | ANNUAL      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. |
|--------|-----------------------------------------------------------------------------------------------------|

| Commission File Number                                      | Registrant,      State of IncorporationAddress and TelephoneNumber | 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                                      |                                                |
|                                                             |                                                               |                                                |
| Securities      registered pursuant to Section 12(b) of the Act: |
|  Registrant                                                 |  Title of Class                                               | Name      of Each Exchange on Which      Registered |
| AMERCO                                                           | Series      A 8 ½% Preferred Stock                            | New      York Stock Exchange                        |
| AMERCO                                                           | Common                                                             | NASDAQ                                              |
|                                                             |                                                               |                                                |

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|          |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | Page No.           |
|---------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------|
|          | PART      I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |               |
|          |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |               |
| Item      1.  | Business                                                                                                                                                                                   | 2 –      7   |   |
| Item      1A. | Risk      Factors                                                                                                                                                                          | 7 –      10  |   |
| Item      1B. | Unresolved Staff      Comments                                                                                                                                                             | 10                 |   |
| Item      2.  | Properties                                                                                                                                                                                 | 10                 |   |
| Item      3.  | Legal      Proceedings                                                                                                                                                                     | 11      - 12       |   |
| Item      4.  | Submission of Matters to a Vote of Security      Holders                                                                                                                                   | 12                 |   |
|          |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |               |   |
|          | PART      II                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |               |   |
| Item      5.  | Market for the      Registrant’s Common Equity, Related Stockholder Matters and      Issuer  Repurchases of Equity    Securities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | 12      – 14 |   |
| Item      6.  | Selected Financial      Data                                                                                                                                                               | 15                 |   |
| Item      7.  | Management’s Discussion and      Analysis of Financial Condition and Results of      Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | 16      – 37 |   |
| Item      7A. | Quantitative and Qualitative Disclosures About      Market      Risk                                                                                                                       | 38                 |   |
| Item      8.  | Financial      Statements and Supplementary      Data                                                                                                                                      | 38                 |   |
| Item      9.  | Changes in and Disagreements with Accountants on      Accounting and Financial Disclosure                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | 38                 |   |
| Item      9A. | Controls and      Procedures                                                                                                                                                               | 39      – 40 |   |
| Item      9B. | Other Information                                                                                                                                                                          | 40                 |   |
|          |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |               |   |
|          | PART      III                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |               |   |
| Item      10. | Directors, Executive      Officers and Corporate      Governance                                                                                                                           | 42                 |   |
| Item      11. | Executive      Compensation                                                                                                                                                                | 42                 |   |
| Item      12. | Security Ownership of Certain Beneficial Owners      and Management and Related Stockholder Matters                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | 42                 |   |
| Item      13. | Certain Relationships and Related Transaction, and Director      Independence                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | 42                 |   |
| Item      14. | Principal Accounting Fees and      Services                                                                                                                                                | 42                 |   |
|          |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |               |   |
|          | PART      IV                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |               |   |
| Item      15. | Exhibits and Financial Statement      Schedules                                                                                                                                            | 43      – 52 |   |

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PART I

Item 1.    Business

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Item 1A.    Risk Factors

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

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

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

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We seek to effectively hedge againstinterest rate changes in our variable debt.

Item 1B

Item 2

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Item 3.    LegalProceedings

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Item 4.

Item 5.

|                |   | Year Ended March      31, |   |
|---------------------|--------|---------------------------|--------|
|                |   | 2008                      |   |   | 2007 |   |
|                |   | High                      |   |   | Low |   |   | High |   |   | Low |   |
| First      quarter  |   | $                         | 83.87  |   |   | $ | 67.29 |   |   | $ | 106.95 |   |   | $ | 79.71 |   |
| Second      quarter |   | $                         | 78.78  |   |   | $ | 57.03 |   |   | $ | 105.35 |   |   | $ | 66.22 |   |
| Third      quarter  |   | $                         | 79.86  |   |   | $ | 58.82 |   |   | $ | 96.89 |   |   | $ | 71.81 |   |
| Fourth      quarter |   | $                         | 71.98  |   |   | $ | 47.53 |   |   | $ | 89.96 |   |   | $ | 59.83 |   |

----

| Fiscal      year ending March 31:                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|---------------------------------------------------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
|                                                                                        |   | 2003   |   |   | 2004   |   |   | 2005   |   |   | 2006   |   |   | 2007   |   |   | 2008   |   |
|                                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| AMERCO                                                                                      |   | $      | 100    |   |   | $      | 584    |   |   | $      | 1,146  |   |   | $      | 2,449  |   |   | $      | 1,732 |   |   | $ | 1,413 |   |
|                                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Dow      Jones US Total Market                                                              |   |   | 100    |   |   |   | 138    |   |   |   | 148    |   |   |   | 169    |   |   |   | 188 |   |   |   | 178 |   |
|                                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Dow      Jones US Transportation Average                                                    |   |   | 100    |   |   |   | 137    |   |   |   | 178    |   |   |   | 222    |   |   |   | 236 |   |   |   | 238 |   |
|                                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| *      $100 invested on 3/31/03 in stock or index-including reinvestment of      dividends. |   |   |   |   |   |   |   |   |   |

----

| Period                                                                              |   | Total      # of Shares Repurchased |      |   | Average      Price Paid per Share (1) |   |   | Total      # of Shares Repurchased as Part of Publicly Announced Plan |   |   | Total      $ of Shares Repurchased as Part of Publicly Announced Plan |   |   | Maximum      $ of Shares That May Yet be Repurchased Under the Plan |       |
|-------------------------------------------------------------------------------------|--------|------------------------------------|-----------|--------|---------------------------------------|--------|--------|-----------------------------------------------------------------------|--------|--------|-----------------------------------------------------------------------|--------|--------|---------------------------------------------------------------------|------------|
|                                                                                |   |                               |      |   |                                  |   |   |                                                                  |   |   |                                                                  |   |   |                                                                |       |
| April      1 - 30, 2007                                                             |   |                               | 196,232   |   |                                  | $      | 69.94  |                                                                  |   |   | 196,232                                                               |   |   | $                                                                   | 13,723,504 |   |   | $ | 52,170,394 |   |
| May      1 - 31, 2007                                                               |   |                               | 218,090   |   |                                  |   | 69.85  |                                                                  |   |   | 218,090                                                               |   |   |                                                                | 15,234,536 |   |   |   | 36,935,858 |   |
| June      1 - 30, 2007                                                              |   |                               | 71,677    |   |                                  |   | 69.87  |                                                                  |   |   | 71,677                                                                |   |   |                                                                | 5,008,018  |   |   |   | 31,927,840 |   |
| First      Quarter Total                                                            |   |                               | 485,999   |   |                                  | $      | 69.89  |                                                                  |   |   | 485,999                                                               |   |   | $                                                                   | 33,966,058 |   |   |   |   |   |
|                                                                                |   |                               |      |   |                                  |   |   |                                                                  |   |   |                                                                  |   |   |                                                                |       |   |   |   |   |   |
| Cumulative      Plan Total                                                          |   |                               | 1,225,290 |   |                                  | $      | 67.80  |                                                                  |   |   | 1,225,290                                                             |   |   | $                                                                   | 83,072,160 |   |   |   |   |   |
|                                                                                |   |                               |      |   |                                  |   |   |                                                                  |   |   |                                                                  |   |   |                                                                |       |   |   |   |   |   |
| (1)      Represents weighted average purchase price for the periods      presented. |   |                               |      |   |                                  |   |   |                                                                  |   |

| Period                                                                              |   | Total      # of Shares Repurchased |    |   | Average      Price Paid per Share (1) |   |   | Total      # of Shares Repurchased as Part of Publicly Announced Plan |   |   | Total      $ of Shares Repurchased as Part of Publicly Announced Plan |   |   | Maximum      $ of Shares That May Yet be Repurchased Under the Plan |       |
|-------------------------------------------------------------------------------------|--------|------------------------------------|---------|--------|---------------------------------------|--------|--------|-----------------------------------------------------------------------|--------|--------|-----------------------------------------------------------------------|--------|--------|---------------------------------------------------------------------|------------|
|                                                                                |   |                               |    |   |                                  |   |   |                                                                  |   |   |                                                                  |   |   |                                                                |       |
| January      1 - 31, 2008                                                           |   |                               | -       |   |                                  | $      | -      |                                                                  |   |   | -                                                                     |   |   | $                                                                   | -          |   |   | $ | 50,000,000 |   |
| February      1 - 29, 2008                                                          |   |                               | 428,000 |   |                                  | $      | 54.94  |                                                                  |   |   | 428,000                                                               |   |   | $                                                                   | 23,512,380 |   |   | $ | 26,487,620 |   |
| March      1 - 31, 2008                                                             |   |                               | -       |   |                                  | $      | -      |                                                                  |   |   | -                                                                     |   |   | $                                                                   | -          |   |   | $ | 26,487,620 |   |
| Fourth      Quarter Total                                                           |   |                               | 428,000 |   |                                  | $      | 54.94  |                                                                  |   |   | 428,000                                                               |   |   | $                                                                   | 23,512,380 |   |   |   |   |   |
|                                                                                |   |                               |    |   |                                  |   |   |                                                                  |   |   |                                                                  |   |   |                                                                |       |   |   |   |   |   |
| (1)      Represents weighted average purchase price for the periods      presented. |   |                               |    |   |                                  |   |   |                                                                  |   |

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Item 6.
Selected FinancialData

|                                                                                                                                                       |   | Year      Ended March 31,                            |              |
|------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------------------------------------|-------------------|
|                                                                                                                                                       |   |                                                 | 2008(b),      (c) |   | 2007 |   |   | 2006 |   |   | 2005 |   |   | 2004 |   |
|                                                                                                                                                       |   | (In      thousands, except share and per share data) |              |
| Summary      of Operations:                                                                                                                                |   |                                                 |              |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Self-moving      equipment rentals                                                                                                                         |   | $                                                    | 1,451,292         |   |   | $ | 1,462,470 |   |   | $ | 1,489,429 |   |   | $ | 1,424,841 |   |   | $ | 1,368,814 |   |
| Self-storage      revenues                                                                                                                                 |   |                                                 | 122,248           |   |   |   | 126,424 |   |   |   | 119,742 |   |   |   | 114,155 |   |   |   | 247,640 |   |
| Self-moving      and self-storage products and service sales                                                                                               |   |                                                 | 217,798           |   |   |   | 224,722 |   |   |   | 223,721 |   |   |   | 206,098 |   |   |   | 232,965 |   |
| Property      management fees                                                                                                                              |   |                                                 | 22,820            |   |   |   | 21,154 |   |   |   | 21,195 |   |   |   | 11,839 |   |   |   | 259 |   |
| Life      insurance premiums                                                                                                                               |   |                                                 | 111,996           |   |   |   | 120,399 |   |   |   | 118,833 |   |   |   | 126,236 |   |   |   | 145,082 |   |
| Property      and casualty insurance premiums                                                                                                              |   |                                                 | 28,388            |   |   |   | 24,335 |   |   |   | 26,001 |   |   |   | 24,987 |   |   |   | 92,036 |   |
| Net      investment and interest income                                                                                                                    |   |                                                 | 62,110            |   |   |   | 59,696 |   |   |   | 48,279 |   |   |   | 49,171 |   |   |   | 31,992 |   |
| Other      revenue                                                                                                                                         |   |                                                 | 32,522            |   |   |   | 30,098 |   |   |   | 40,325 |   |   |   | 30,172 |   |   |   | 38,523 |   |
| Total      revenues                                                                                                                                        |   |                                                 | 2,049,174         |   |   |   | 2,069,298 |   |   |   | 2,087,525 |   |   |   | 1,987,499 |   |   |   | 2,157,311 |   |
|                                                                                                                                                       |   |                                                 |              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Operating      expenses                                                                                                                                    |   |                                                 | 1,077,108         |   |   |   | 1,080,412 |   |   |   | 1,082,158 |   |   |   | 1,123,975 |   |   |   | 1,181,313 |   |
| Commission      expenses                                                                                                                                   |   |                                                 | 167,945           |   |   |   | 162,899 |   |   |   | 165,961 |   |   |   | 159,253 |   |   |   | 134,616 |   |
| Cost      of sales                                                                                                                                         |   |                                                 | 120,210           |   |   |   | 117,648 |   |   |   | 113,135 |   |   |   | 105,309 |   |   |   | 111,906 |   |
| Benefits      and losses                                                                                                                                   |   |                                                 | 111,195           |   |   |   | 118,725 |   |   |   | 117,160 |   |   |   | 140,343 |   |   |   | 217,447 |   |
| Amortization      of deferred policy acquisition costs                                                                                                     |   |                                                 | 13,181            |   |   |   | 17,138 |   |   |   | 24,261 |   |   |   | 28,512 |   |   |   | 39,083 |   |
| Lease      expense                                                                                                                                         |   |                                                 | 133,931           |   |   |   | 147,659 |   |   |   | 136,652 |   |   |   | 142,008 |   |   |   | 153,121 |   |
| Depreciation,      net of (gains) losses on disposal                                                                                                       |   |                                                 | 221,882           |   |   |   | 189,589 |   |   |   | 142,817 |   |   |   | 121,103 |   |   |   | 148,813 |   |
| Restructuring      expense                                                                                                                                 |   |                                                 | -                 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 44,097 |   |
| Total      costs and expenses                                                                                                                              |   |                                                 | 1,845,452         |   |   |   | 1,834,070 |   |   |   | 1,782,144 |   |   |   | 1,820,503 |   |   |   | 2,030,396 |   |
|                                                                                                                                                       |   |                                                 |              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Earnings      from operations                                                                                                                              |   |                                                 | 203,722           |   |   |   | 235,228 |   |   |   | 305,381 |   |   |   | 166,996 |   |   |   | 126,915 |   |
| Interest      expense                                                                                                                                      |   |                                                 | (101,420          | ) |   |   | (82,436 | ) |   |   | (69,481 | ) |   |   | (73,205 | ) |   |   | (121,690 | ) |
| Fees      and amortization on early extinguishment of debt (a)                                                                                             |   |                                                 | -                 |   |   |   | (6,969 | ) |   |   | (35,627 | ) |   |   | - |   |   |   | - |   |
| Litigation      settlement, net of costs, fees and expenses                                                                                                |   |                                                 | -                 |   |   |   | - |   |   |   | - |   |   |   | 51,341 |   |   |   | - |   |
| Pretax      earnings                                                                                                                                       |   |                                                 | 102,302           |   |   |   | 145,823 |   |   |   | 200,273 |   |   |   | 145,132 |   |   |   | 5,225 |   |
| Income      tax expense                                                                                                                                    |   |                                                 | (34,518           | ) |   |   | (55,270 | ) |   |   | (79,119 | ) |   |   | (55,708 | ) |   |   | (8,077 | ) |
| Net      earnings (loss)                                                                                                                                   |   |                                                 | 67,784            |   |   |   | 90,553 |   |   |   | 121,154 |   |   |   | 89,424 |   |   |   | (2,852 | ) |
| Less:  Preferred      stock dividends                                                                                                            |   |                                                 | (12,963           | ) |   |   | (12,963 | ) |   |   | (12,963 | ) |   |   | (12,963 | ) |   |   | (12,963 | ) |
| Earnings      (loss) available to common shareholders                                                                                                      |   | $                                                    | 54,821            |   |   | $ | 77,590 |   |   | $ | 108,191 |   |   | $ | 76,461 |   |   | $ | (15,815 | ) |
| Net      earnings (loss) per common share basic and diluted                                                                                                |   | $                                                    | 2.78              |   |   | $ | 3.72 |   |   | $ | 5.19 |   |   | $ | 3.68 |   |   | $ | (0.76 | ) |
| Weighted      average common shares outstanding: Basic and diluted                                                                                         |   |                                                 | 19,740,571        |   |   |   | 20,838,570 |   |   |   | 20,857,108 |   |   |   | 20,804,773 |   |   |   | 20,749,998 |   |
| Cash      dividends declared and accrued                                                                                                                   |   |                                                 |              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Preferred      stock                                                                                                                                       |   | $                                                    | 12,963            |   |   | $ | 12,963 |   |   | $ | 12,963 |   |   | $ | 12,963 |   |   | $ | 12,963 |   |
| Balance      Sheet Data:                                                                                                                                   |   |                                                 |              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Property,      plant and equipment, net                                                                                                                    |   |                                                 | 2,011,176         |   |   |   | 1,897,071 |   |   |   | 1,535,165 |   |   |   | 1,354,468 |   |   |   | 1,451,805 |   |
| Total      assets                                                                                                                                          |   |                                                 | 3,832,487         |   |   |   | 3,523,048 |   |   |   | 3,367,218 |   |   |   | 3,116,173 |   |   |   | 3,394,748 |   |
| Capital      leases                                                                                                                                        |   |                                                 | -                 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 99,607 |   |
| AMERCO's      notes and loans payable                                                                                                                      |   |                                                 | 1,504,677         |   |   |   | 1,181,165 |   |   |   | 965,634 |   |   |   | 780,008 |   |   |   | 862,703 |   |
| SAC      Holdings II notes and loans payable, non re-course to    AMERCO                                                                                   |   |                                                 | -                 |   |   |   | 74,887 |   |   |   | 76,232 |   |   |   | 77,474 |   |   |   | 78,637 |   |
| Stockholders'      equity                                                                                                                                  |   |                                                 | 758,431           |   |   |   | 718,098 |   |   |   | 695,604 |   |   |   | 572,839 |   |   |   | 503,846 |   |
|                                                                                                                                                       |   |                                                 |              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (a)      Includes the write-off of debt issuance costs of $7.0 million in fiscal      2007 and $14.4 million in fiscal 2006.                               |   |                                                 |              |   |   |
| (b)      Fiscal 2008 summary of operations includes 7 months of activity for SAC      Holding II which was deconsolidated effective October 31,      2007. |   |
| (c)      Fiscal 2008 balance sheet data does not include SAC Holding II which was      deconsolidated effective October 31, 2007                           |   |                                                 |              |   |   |

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| Item 7.    Management’s      Discussion and Analysis of Financial Condition and Results of      Operations |
|--------------------------------------------------------------------------------------------------------------------------------------|

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

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

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

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

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----

----

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SFAS 161, Disclosures about DerivativeInstruments and Hedging Activities which amends 
SFAS 133 to require expanded disclosures about derivativeinstruments and hedging activities regarding (1) the ways in which an entityuses derivatives, (2) the accounting for derivatives and hedging activities, and(3) the impact that derivatives have (or could have) on an entity's financialposition, financial performance, and cash flows. SFAS 161 is effective forfinancial statements of fiscal years and interim periods beginning afterNovember 15, 2008, with early application encouraged. While disclosures forearlier comparative periods presented at initial adoption are not required, theyare encouraged; following initial adoption, comparative disclosures are requiredonly for periods aftersuch adoption. The Company is currently evaluating the impact that SFAS 161 willhave on our financial statements and disclosures.

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|                                                              |   | Year      Ended March 31, |      |
|-------------------------------------------------------------------|--------|---------------------------|-----------|
|                                                              |   | 2008                      |      |   | 2007 |   |
|                                                              |   | (In      thousands)       |      |
|  Self-moving      equipment rentals                          |   | $                         | 1,451,292 |   |   | $ | 1,462,470 |   |
|  Self-storage      revenues                                  |   |                      | 122,248   |   |   |   | 126,424 |   |
|  Self-moving      and self-storage product and service sales |   |                      | 217,798   |   |   |   | 224,722 |   |
|  Property      management fees                               |   |                      | 22,820    |   |   |   | 21,154 |   |
|  Life      insurance premiums                                |   |                      | 111,996   |   |   |   | 120,399 |   |
|  Property      and casualty insurance premiums               |   |                      | 28,388    |   |   |   | 24,335 |   |
|  Net      investment and interest income                     |   |                      | 62,110    |   |   |   | 59,696 |   |
|  Other      revenue                                          |   |                      | 32,522    |   |   |   | 30,098 |   |
|  Consolidated      revenue                                   |   | $                         | 2,049,174 |   |   | $ | 2,069,298 |   |

----

|                                                                                                                            |   | Year      Ended March 31, |      |
|---------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------|-----------|
|                                                                                                                            |   | 2008                      |      |   | 2007 |   |
|                                                                                                                            |   | (In      thousands)       |      |
|  Moving      and storage                                                                                                   |   |                      |      |   |   |   |
|  Revenues                                                                                                                  |   | $                         | 1,858,230 |   |   | $ | 1,861,751 |   |
|  Earnings      from operations                                                                                             |   |                      | 192,970   |   |   |   | 217,937 |   |
|  Property      and casualty insurance                                                                                      |   |                      |      |   |   |   |   |   |
|  Revenues                                                                                                                  |   |                      | 40,478    |   |   |   | 38,486 |   |
|  Earnings      from operations                                                                                             |   |                      | 9,244     |   |   |   | 5,741 |   |
|  Life      insurance                                                                                                       |   |                      |      |   |   |   |   |   |
|  Revenues                                                                                                                  |   |                      | 137,448   |   |   |   | 148,820 |   |
|  Earnings      from operations                                                                                             |   |                      | 17,202    |   |   |   | 14,521 |   |
|  SAC      Holding II (a)                                                                                                   |   |                      |      |   |   |   |   |   |
|  Revenues                                                                                                                  |   |                      | 28,102    |   |   |   | 46,603 |   |
|  Earnings      from operations                                                                                             |   |                      | 7,926     |   |   |   | 13,854 |   |
|  Eliminations                                                                                                              |   |                      |      |   |   |   |   |   |
|  Revenues                                                                                                                  |   |                      | (15,084   | ) |   |   | (26,362 | ) |
|  Earnings      from operations                                                                                             |   |                      | (23,620   | ) |   |   | (16,825 | ) |
|  Consolidated      Results                                                                                                 |   |                      |      |   |   |   |   |   |
|  Revenues                                                                                                                  |   |                      | 2,049,174 |   |   |   | 2,069,298 |   |
|  Earnings      from operations                                                                                             |   |                      | 203,722   |   |   |   | 235,228 |   |
|                                                                                                                            |   |                      |      |   |   |   |   |   |
| (a)      Fiscal 2008 includes 7 months of activity for SAC Holding II which was      deconsolidated effective October 31, 2007. |   |

----

|                                                              |   | Year      Ended March 31, |      |
|-------------------------------------------------------------------|--------|---------------------------|-----------|
|                                                              |   | 2007                      |      |   | 2006 |   |
|                                                              |   | (In      thousands)       |      |
|  Self-moving      equipment rentals                          |   | $                         | 1,462,470 |   |   | $ | 1,489,429 |   |
|  Self-storage      revenues                                  |   |                      | 126,424   |   |   |   | 119,742 |   |
|  Self-moving      and self-storage product and service sales |   |                      | 224,722   |   |   |   | 223,721 |   |
|  Property      management fees                               |   |                      | 21,154    |   |   |   | 21,195 |   |
|  Life      insurance premiums                                |   |                      | 120,399   |   |   |   | 118,833 |   |
|  Property      and casualty insurance premiums               |   |                      | 24,335    |   |   |   | 26,001 |   |
|  Net      investment and interest income                     |   |                      | 59,696    |   |   |   | 48,279 |   |
|  Other      revenue                                          |   |                      | 30,098    |   |   |   | 40,325 |   |
| Consolidated      revenue                                         |   | $                         | 2,069,298 |   |   | $ | 2,087,525 |   |

----

|                                       |   | Year      Ended March 31, |      |
|--------------------------------------------|--------|---------------------------|-----------|
|                                       |   | 2007                      |      |   | 2006 |   |
|                                       |   | (In      thousands)       |      |
|  Moving      and storage              |   |                      |      |   |   |   |
|  Revenues                             |   | $                         | 1,861,751 |   |   | $ | 1,886,328 |   |
|  Earnings      from operations        |   |                      | 217,937   |   |   |   | 292,774 |   |
|  Property      and casualty insurance |   |                      |      |   |   |   |   |   |
|  Revenues                             |   |                      | 38,486    |   |   |   | 37,358 |   |
|  Earnings      from operations        |   |                      | 5,741     |   |   |   | 1,144 |   |
|  Life      insurance                  |   |                      |      |   |   |   |   |   |
|  Revenues                             |   |                      | 148,820   |   |   |   | 148,080 |   |
|  Earnings      from operations        |   |                      | 14,521    |   |   |   | 13,933 |   |
|  SAC      Holding II                  |   |                      |      |   |   |   |   |   |
|  Revenues                             |   |                      | 46,603    |   |   |   | 46,239 |   |
|  Earnings      from operations        |   |                      | 13,854    |   |   |   | 13,643 |   |
|  Eliminations                         |   |                      |      |   |   |   |   |   |
|  Revenues                             |   |                      | (26,362   | ) |   |   | (30,480 | ) |
|  Earnings      from operations        |   |                      | (16,825   | ) |   |   | (16,113 | ) |
|  Consolidated      Results            |   |                      |      |   |   |   |   |   |
|  Revenues                             |   |                      | 2,069,298 |   |   |   | 2,087,525 |   |
|  Earnings      from operations        |   |                      | 235,228   |   |   |   | 305,381 |   |

----

|                                                              |   | Year      Ended March 31, |      |
|-------------------------------------------------------------------|--------|---------------------------|-----------|
|                                                              |   | 2008                      |      |   | 2007 |   |
|                                                              |   | (In      thousands)       |      |
|  Self-moving      equipment rentals                          |   | $                         | 1,451,292 |   |   | $ | 1,462,470 |   |
|  Self-storage      revenues                                  |   |                      | 110,779   |   |   |   | 106,498 |   |
|  Self-moving      and self-storage product and service sales |   |                      | 207,759   |   |   |   | 208,677 |   |
|  Property      management fees                               |   |                      | 24,520    |   |   |   | 23,951 |   |
|  Net      investment and interest income                     |   |                      | 34,906    |   |   |   | 34,161 |   |
|  Other      revenue                                          |   |                      | 28,974    |   |   |   | 25,994 |   |
|  Moving      and Storage revenue                             |   | $                         | 1,858,230 |   |   | $ | 1,861,751 |   |

|                                            |   | Year      Ended March 31,                  |   |
|-------------------------------------------------|--------|--------------------------------------------|--------|
|                                            |   | 2008                                       |   |   | 2007 |   |
|                                            |   | (In      thousands, except occupancy rate) |   |
| Room      count as of March 31                  |   |                                       | 131    |   |   |   | 127 |   |
| Square      footage as of March 31              |   |                                       | 10,533 |   |   |   | 10,062 |   |
| Average      number of rooms occupied           |   |                                       | 109    |   |   |   | 108 |   |
| Average      occupancy rate based on room count |   |                                       | 84.0   | % |   |   | 86.6 | % |
| Average      square footage occupied            |   |                                       | 8,767  |   |   |   | 8,653 |   |

----

|                                                              |   | Year      Ended March 31, |      |
|-------------------------------------------------------------------|--------|---------------------------|-----------|
|                                                              |   | 2007                      |      |   | 2006 |   |
|                                                              |   | (In      thousands)       |      |
|  Self-moving      equipment rentals                          |   | $                         | 1,462,470 |   |   | $ | 1,489,429 |   |
|  Self-storage      revenues                                  |   |                      | 106,498   |   |   |   | 100,873 |   |
|  Self-moving      and self-storage product and service sales |   |                      | 208,677   |   |   |   | 207,119 |   |
|  Property      management fees                               |   |                      | 23,951    |   |   |   | 23,988 |   |
|  Net      investment and interest income                     |   |                      | 34,161    |   |   |   | 30,025 |   |
|  Other      revenue                                          |   |                      | 25,994    |   |   |   | 34,894 |   |
|  Moving      and Storage revenue                             |   | $                         | 1,861,751 |   |   | $ | 1,886,328 |   |

|                                            |   | Year      Ended March 31,                  |   |
|-------------------------------------------------|--------|--------------------------------------------|--------|
|                                            |   | 2007                                       |   |   | 2006 |   |
|                                            |   | (In      thousands, except occupancy rate) |   |
| Room      count as of March 31                  |   |                                       | 127    |   |   |   | 123 |   |
| Square      footage as of March 31              |   |                                       | 10,062 |   |   |   | 9,592 |   |
| Average      number of rooms occupied           |   |                                       | 108    |   |   |   | 107 |   |
| Average      occupancy rate based on room count |   |                                       | 86.6   | % |   |   | 87.9 | % |
| Average      square footage occupied            |   |                                       | 8,653  |   |   |   | 8,516 |   |

----

----

|                                           |   | Unpaid      Loss and Loss Adjustment Expenses |     |
|------------------------------------------------|--------|-----------------------------------------------|----------|
|                                           |   |                                          |     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                           |   | December      31,                             |     |
|                                           |   | 1997                                          |     |   | 1998 |   |   | 1999 |   |   | 2000 |   |   | 2001 |   |   | 2002 |   |   | 2003 |   |   | 2004 |   |   | 2005 |   |   | 2006 |   |   | 2007 |   |
|                                           |   | (In      thousands)                           |     |
| Unpaid      Loss and Loss Adjustment Expenses  |   | $                                             | 384,816  |   |   | $ | 344,748 |   |   | $ | 334,858 |   |   | $ | 382,651 |   |   | $ | 448,987 |   |   | $ | 399,447 |   |   | $ | 416,259 |   |   | $ | 380,875 |   |   | $ | 346,928 |   |   | $ | 288,783 |   |   | $ | 288,410 |   |
| Paid      (Cumulative) as of:                  |   |                                          |     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| One      year later                            |   |                                          | 103,752  |   |   |   | 82,936 |   |   |   | 117,025 |   |   |   | 130,471 |   |   |   | 130,070 |   |   |   | 100,851 |   |   |   | 73,384 |   |   |   | 44,677 |   |   |   | 40,116 |   |   |   | 35,297 |   |   |   | - |   |
| Two      years later                           |   |                                          | 174,867  |   |   |   | 164,318 |   |   |   | 186,193 |   |   |   | 203,605 |   |   |   | 209,525 |   |   |   | 164,255 |   |   |   | 114,246 |   |   |   | 83,230 |   |   |   | 73,235 |   |   |   | - |   |   |   | - |   |
| Three      years later                         |   |                                          | 216,966  |   |   |   | 218,819 |   |   |   | 232,883 |   |   |   | 255,996 |   |   |   | 266,483 |   |   |   | 201,346 |   |   |   | 151,840 |   |   |   | 115,955 |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Four      years later                          |   |                                          | 246,819  |   |   |   | 255,134 |   |   |   | 264,517 |   |   |   | 299,681 |   |   |   | 295,268 |   |   |   | 233,898 |   |   |   | 184,219 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Five      years later                          |   |                                          | 269,425  |   |   |   | 274,819 |   |   |   | 295,997 |   |   |   | 320,629 |   |   |   | 322,191 |   |   |   | 263,654 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Six      years later                           |   |                                          | 282,598  |   |   |   | 297,354 |   |   |   | 314,281 |   |   |   | 341,543 |   |   |   | 346,733 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Seven      years later                         |   |                                          | 300,814  |   |   |   | 311,963 |   |   |   | 331,385 |   |   |   | 358,882 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Eight      years later                         |   |                                          | 314,322  |   |   |   | 327,141 |   |   |   | 346,270 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Nine      years later                          |   |                                          | 326,805  |   |   |   | 340,190 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Ten      years later                           |   |                                          | 337,163  |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
|                                           |   |                                          |     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Reserved      Re-estimated as of:              |   |                                          |     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| One      year later                            |   |                                          | 357,733  |   |   |   | 339,602 |   |   |   | 383,264 |   |   |   | 433,222 |   |   |   | 454,510 |   |   |   | 471,029 |   |   |   | 447,524 |   |   |   | 388,859 |   |   |   | 326,386 |   |   |   | 319,951 |   |   |   |   |   |
| Two      years later                           |   |                                          | 361,306  |   |   |   | 371,431 |   |   |   | 432,714 |   |   |   | 454,926 |   |   |   | 523,624 |   |   |   | 480,713 |   |   |   | 456,171 |   |   |   | 368,756 |   |   |   | 357,135 |   |   |   | - |   |   |   |   |   |
| Three      years later                         |   |                                          | 369,598  |   |   |   | 429,160 |   |   |   | 437,712 |   |   |   | 517,361 |   |   |   | 500,566 |   |   |   | 521,319 |   |   |   | 435,549 |   |   |   | 399,693 |   |   |   | - |   |   |   | - |   |   |   |   |   |
| Four      years later                          |   |                                          | 398,899  |   |   |   | 413,476 |   |   |   | 480,200 |   |   |   | 543,554 |   |   |   | 571,045 |   |   |   | 502,922 |   |   |   | 466,709 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |
| Five      years later                          |   |                                          | 398,184  |   |   |   | 443,696 |   |   |   | 524,548 |   |   |   | 558,765 |   |   |   | 569,104 |   |   |   | 537,610 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |
| Six      years later                           |   |                                          | 428,031  |   |   |   | 477,975 |   |   |   | 520,675 |   |   |   | 559,873 |   |   |   | 608,159 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |
| Seven      years later                         |   |                                          | 450,728  |   |   |   | 485,228 |   |   |   | 527,187 |   |   |   | 583,904 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |
| Eight      years later                         |   |                                          | 461,082  |   |   |   | 496,484 |   |   |   | 550,333 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |
| Nine      years later                          |   |                                          | 469,869  |   |   |   | 521,403 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |
| Ten      years later                           |   |                                          | 497,251  |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |
| Cumulative      Redundancy (Deficiency)        |   | $                                             | (112,435 | ) |   | $ | (176,655 | ) |   | $ | (215,475 | ) |   | $ | (201,253 | ) |   | $ | (159,172 | ) |   | $ | (138,163 | ) |   | $ | (50,450 | ) |   | $ | (18,818 | ) |   | $ | (10,207 | ) |   | $ | (31,168 | ) |   |   |   |   |
| Retro      Premium Recoverable                 |   |                                          | 3,037    |   |   |   | (1,879 | ) |   |   | 6,797 |   |   |   | 5,613 |   |   |   | 21,756 |   |   |   | 7,036 |   |   |   | 374 |   |   |   | 2,233 |   |   |   | - |   |   |   | - |   |   |   |   |   |
| Re-estimated      Reserve: Amount (Cumulative) |   | $                                             | (109,398 | ) |   | $ | (178,534 | ) |   | $ | (208,678 | ) |   | $ | (195,640 | ) |   | $ | (137,416 | ) |   | $ | (131,127 | ) |   | $ | (50,076 | ) |   | $ | (16,585 | ) |   | $ | (10,207 | ) |   | $ | (31,168 | ) |   |   |   |   |

----

|                               |   | Year      Ended December 31, |    |
|------------------------------------|--------|------------------------------|---------|
|                               |   | 2007                         |    |   | 2006 |   |   | 2005 |   |
|                               |   | (In      thousands)          |    |
| Balance      at January 1          |   | $                            | 288,783 |   |   | $ | 346,928 |   |   | $ | 380,875 |   |
| Less:      reinsurance recoverable |   |                         | 144,950 |   |   |   | 181,388 |   |   |   | 189,472 |   |
| Net      balance at January 1      |   |                         | 143,833 |   |   |   | 165,540 |   |   |   | 191,403 |   |
| Incurred      related to:          |   |                         |    |   |   |   |   |   |   |   |   |   |
| Current      year                  |   |                         | 7,094   |   |   |   | 6,006 |   |   |   | 6,429 |   |
| Prior      years                   |   |                         | 11,894  |   |   |   | 15,895 |   |   |   | 16,161 |   |
| Total      incurred                |   |                         | 18,988  |   |   |   | 21,901 |   |   |   | 22,590 |   |
| Paid      related to:              |   |                         |    |   |   |   |   |   |   |   |   |   |
| Current      year                  |   |                         | 3,289   |   |   |   | 3,492 |   |   |   | 3,774 |   |
| Prior      years                   |   |                         | 35,303  |   |   |   | 40,116 |   |   |   | 44,679 |   |
| Total      paid                    |   |                         | 38,592  |   |   |   | 43,608 |   |   |   | 48,453 |   |
| Net      balance at December 31    |   |                         | 124,229 |   |   |   | 143,833 |   |   |   | 165,540 |   |
| Plus:      reinsurance recoverable |   |                         | 164,181 |   |   |   | 144,950 |   |   |   | 181,388 |   |
| Balance      at December 31        |   | $                            | 288,410 |   |   | $ | 288,783 |   |   | $ | 346,928 |   |

----

|                                                                                      |   | Year      Ended March 31, |   |
|-------------------------------------------------------------------------------------------|--------|---------------------------|--------|
|                                                                                      |   | 2008      (a)             |   |   | 2007 |   |
|                                                                                      |   | (In      thousands)       |   |
|  Self-moving      equipment rentals                                                  |   | $                         | 5,846  |   |   | $ | 9,225 |   |
|  Self-storage      revenues                                                          |   |                      | 11,469 |   |   |   | 19,926 |   |
|  Self-moving      and self-storage product and service sales                         |   |                      | 10,039 |   |   |   | 16,045 |   |
|  Other      revenue                                                                  |   |                      | 748    |   |   |   | 1,407 |   |
|  Segment      revenue                                                                |   | $                         | 28,102 |   |   | $ | 46,603 |   |
|                                                                                      |   |                      |   |   |   |   |   |   |
|                                                                                      |   |                      |   |   |   |   |   |   |
| (a) Activity for the      seven months ended October 2007, prior to      deconsolidation. |   |                      |   |   |   |

----

|                                                              |   | Year      Ended March 31, |   |
|-------------------------------------------------------------------|--------|---------------------------|--------|
|                                                              |   | 2007                      |   |   | 2006 |   |
|                                                              |   | (In      thousands)       |   |
|  Self-moving      equipment rentals                          |   | $                         | 9,225  |   |   | $ | 9,498 |   |
|  Self-storage      revenues                                  |   |                      | 19,926 |   |   |   | 18,869 |   |
|  Self-moving      and self-storage product and service sales |   |                      | 16,045 |   |   |   | 16,602 |   |
|  Other      revenue                                          |   |                      | 1,407  |   |   |   | 1,270 |   |
| Segment      revenue                                              |   | $                         | 46,603 |   |   | $ | 46,239 |   |

|                             |   | Moving      & Storage |      |   | RepWest      (a) |   |    | Oxford      (a) |   |
|----------------------------------|--------|---------------------------|-----------|--------|------------------|--------|---------|-----------------|--------|
|                             |   | (In      thousands)       |      |
|                             |   |                      |      |   |             |   |    |            |   |
| Cash      & cash equivalents |   | $                         | 191,250   |   |             | $      | 6,848   |            |   | $ | 8,524 |   |
| Other      financial assets      |   |                      | 343,358   |   |             |   | 402,329 |            |   |   | 590,320 |   |
| Debt      obligations            |   |                      | 1,504,677 |   |             |   | -       |            |   |   | - |   |
|                             |   |                      |      |   |             |   |    |            |   |   |   |   |
| (a)      As of December 31, 2007 |   |                      |      |   |             |   |    |            |   |   |   |   |

|                                         |   | March      31, 2008 |   |
|----------------------------------------------|--------|---------------------|--------|
|                                         |   | (In      millions)  |   |
|                                         |   |                |   |
| Real      estate loan (revolving credit)     |   | $                   | 100.0  |   |
| Construction      loan (revolving credit)    |   |                | 9.2    |   |
| Working      capital loan (revolving credit) |   |                | 35.0   |   |
| Fleet      loan (amortizing loan)            |   |                | 20.0   |   |
|                                         |   | $                   | 164.2  |   |

----

|                                                 |   | Year      Ended March 31, |     |
|------------------------------------------------------|--------|---------------------------|----------|
|                                                 |   | 2008                      |     |   | 2007 |   |   | 2006 |   |
|                                                 |   | (In      thousands)       |     |
|  Net      cash provided by operating activities |   | $                         | 329,287  |   |   | $ | 350,721 |   |   | $ | 270,508 |   |
|  Net      cash used by investing activities     |   |                      | (357,962 | ) |   |   | (517,619 | ) |   |   | (258,836 | ) |
|  Net      cash provided by financing activities |   |                      | 159,929  |   |   |   | 87,685 |   |   |   | 88,018 |   |
|  Effects      of exchange rate on cash          |   |                      | 96       |   |   |   | (974 | ) |   |   | (186 | ) |
|  Net      cash flow                             |   |                      | 131,350  |   |   |   | (80,187 | ) |   |   | 99,504 |   |
|  Cash      at the beginning of the period       |   |                      | 75,272   |   |   |   | 155,459 |   |   |   | 55,955 |   |
|  Cash      at the end of the period             |   | $                         | 206,622  |   |   | $ | 75,272 |   |   | $ | 155,459 |   |

----

----

|                                         |   |                |      |   | Payment      due by Period (as of March 31, 2008) |   |
|----------------------------------------------|--------|---------------------|-----------|--------|---------------------------------------------------|--------|
| Contractual Obligations                      |   | Total               |      |   | Prior      to03/31/09                             |   |   | 04/01/0903/31/11 |   |   | 04/01/1103/31/13 |   |   | April      1, 2013and      Thereafter |   |
|                                         |   | (In      thousands) |      |
| Notes      and loans payable - Principal     |   | $                   | 1,373,894 |   |                                              | $      | 108,753 |   |   | $ | 239,626 |   |   | $ | 210,705 |   |   | $ | 814,810 |   |
| Notes      and loans payable - Interest      |   |                | 384,828   |   |                                              |   | 68,305 |   |   |   | 118,125 |   |   |   | 96,100 |   |   |   | 102,298 |   |
| Revolving      credit agreements - Principal |   |                | 130,783   |   |                                              |   | - |   |   |   | 30,783 |   |   |   | - |   |   |   | 100,000 |   |
| Revolving      credit agreements - Interest  |   |                | 52,295    |   |                                              |   | 6,277 |   |   |   | 9,987 |   |   |   | 9,716 |   |   |   | 26,315 |   |
| AMERCO's      operating leases               |   |                | 411,744   |   |                                              |   | 106,341 |   |   |   | 169,187 |   |   |   | 103,405 |   |   |   | 32,811 |   |
| Post      retirement benefit liability       |   |                | 7,770     |   |                                              |   | 530 |   |   |   | 1,330 |   |   |   | 1,631 |   |   |   | 4,279 |   |
|  Total      contractual obligations     |   | $                   | 2,361,314 |   |                                              | $      | 290,206 |   |   | $ | 569,038 |   |   | $ | 421,557 |   |   | $ | 1,080,513 |   |

----

----

|                                                                    |   | Quarter      Ended                                       |       |
|-------------------------------------------------------------------------|--------|----------------------------------------------------------|------------|
|                                                                    |   | March      31,2008                                       |       |   | December      31,2007 |   |   | September      30,2007 |   |   | June      30,2007 |   |
|                                                                    |   | (In      thousands, except for share and per share data) |       |
| Total      revenues                                                     |   | $                                                        | 432,960    |   |   | $ | 465,496 |   |   | $ | 596,388 |   |   | $ | 554,330 |   |
| Earnings      (loss) from operations                                    |   |                                                     | (5,822     | ) |   |   | 8,359 |   |   |   | 109,126 |   |   |   | 92,059 |   |
| Net      earnings (loss)                                                |   |                                                     | (14,048    | ) |   |   | (10,394 | ) |   |   | 50,474 |   |   |   | 41,752 |   |
| Earnings      (loss) available to common shareholders                   |   |                                                     | (17,288    | ) |   |   | (13,635 | ) |   |   | 47,233 |   |   |   | 38,511 |   |
| Weighted      average common shares outstanding:      basic and diluted |   |                                                     | 19,544,707 |   |   |   | 19,746,237 |   |   |   | 19,733,755 |   |   |   | 19,937,152 |   |
| Earnings      (loss) per common share: Basic      and diluted           |   | $                                                        | (0.85      | ) |   | $ | (0.69 | ) |   | $ | 2.39 |   |   | $ | 1.93 |   |

|                                                                    |   | Quarter      Ended                                       |       |
|-------------------------------------------------------------------------|--------|----------------------------------------------------------|------------|
|                                                                    |   | March      31,2007                                       |       |   | December      31,2006      (a) |   |   | September      30,2006      (a), (b) |   |   | June      30,2006      (a) |   |
|                                                                    |   | (In      thousands, except for share and per share data) |       |
| Total      revenues                                                     |   | $                                                        | 441,846    |   |   | $ | 463,329 |   |   | $ | 601,682 |   |   | $ | 562,441 |   |
| Earnings      (loss) from operations                                    |   |                                                     | (9,094     | ) |   |   | 8,146 |   |   |   | 126,133 |   |   |   | 110,043 |   |
| Net      earnings (loss)                                                |   |                                                     | (15,660    | ) |   |   | (9,551 | ) |   |   | 60,418 |   |   |   | 55,346 |   |
| Earnings      (loss) available to common shareholders                   |   |                                                     | (18,900    | ) |   |   | (12,792 | ) |   |   | 57,177 |   |   |   | 52,105 |   |
| Weighted      average common shares outstanding:      basic and diluted |   |                                                     | 20,682,087 |   |   |   | 20,922,433 |   |   |   | 20,910,204 |   |   |   | 20,897,688 |   |
| Earnings      (loss) per common share: Basic      and diluted           |   | $                                                        | (0.89      | ) |   | $ | (0.61 | ) |   | $ | 2.73 |   |   | $ | 2.49 |   |

----

Item7A.

| Notional      Amount                  |        | Fair      Value |          | Effective      Date |   | Expiration      Date |   | Fixed      Rate |   | Floating      Rate |
|---------------------------------------|-------------|-----------------|---------------|---------------------|--------|----------------------|--------|-----------------|--------|--------------------|
|                                  |        |            |          |                |   |                 |   |            |   |               |   |   |
| $                                     | 95,447,770  |            | (a),      (b) |                |   | (5,502,082           | )      | 5/10/2006       |   | 4/10/2012          |   |   | 5.06 | % | 1      Month LIBOR |
|                                  | 105,719,349 |            | (a),      (b) |                |   | (7,415,913           | )      | 10/10/2006      |   | 10/10/2012         |   |   | 5.57 | % | 1      Month LIBOR |
|                                  | 34,981,772  |            | (a)           |                |   | (2,749,898           | )      | 7/10/2006       |   | 7/10/2013          |   |   | 5.67 | % | 1      Month LIBOR |
|                                  | 284,166,667 |            | (a)           |                |   | (31,700,119          | )      | 8/18/2006       |   | 8/10/2018          |   |   | 5.43 | % | 1      Month LIBOR |
|                                  | 23,625,000  |            | (a)           |                |   | (1,626,030           | )      | 2/12/2007       |   | 2/10/2014          |   |   | 5.24 | % | 1      Month LIBOR |
|                                  | 16,000,000  |            | (a)           |                |   | (959,438             | )      | 3/12/2007       |   | 3/10/2014          |   |   | 4.99 | % | 1      Month LIBOR |
|                                  | 16,000,000  |            | (a)           |                |   | (1,083,397           | )      | 3/12/2007       |   | 3/10/2014          |   |   | 4.99 | % | 1      Month LIBOR |
|                                  |        |            |          |                |   |                 |   |            |   |               |   |   |   |   |   |
| (a)      interest rate swap agreement |        |            |          |                |   |                 |   |            |   |
| (b)      forward swap                 |        |            |          |                |   |                 |   |

Item 8.

Item 9.

----

Item 9A.    Controls andProcedures

----

Item 9B.    OtherInformation

----

----

PART III

Item 10.    Directors, Executive Officers andCorporate Governance

Item 11

Item 12.    Security Ownership of CertainBeneficial Owners and Management

Item 13

Item 14

----

Item 15.

|   |                                                                                                              | Page No.         |
|--------|-------------------------------------------------------------------------------------------------------------------|------------------|
| 1.     | Financial      Statements:                                                                                        |             |
|   | Report      of Independent Registered Public Accounting Firm                                                      | F-1              |
|   | Independent      Auditors' Report                                                                                 | F-2              |
|   | Consolidated      Balance Sheets - March 31, 2008 and 2007                                                        | F-3              |
|   | Consolidated      Statements of Operations - Years Ended March 31, 2008, 2007, and      2006                      | F-4              |
|   | Consolidated      Statements of Changes in Stockholders' Equity - Years Ended March 31,      2008, 2007, and 2006 | F-5              |
|   | Consolidated      Statement of Comprehensive Income (Loss) - Years Ended March 31, 2008,      2007 and 2006       | F-6              |
|   | Consolidated      Statement of Cash Flows - Years Ended March 31, 2008, 2007 and      2006                        | F-7              |
|   | Notes      to Consolidated Financial Statements                                                                   | F-8      - F-53  |
| 2.     | Financial      Statement Schedules required to be filed by Item 8 and Paragraph (d) of      this Item 15:         |             |
|   | Condensed      Financial Information of AMERCO - Schedule 1                                                       | F-54      - F-57 |
|   | Valuation      and Qualifying Accounts - Schedule II                                                              | F-58             |
|   | Supplemental      Information (For Property-Casualty Insurance Underwriters) - Schedule      V                    | F-59             |

| Exhibit Number |  Description                                                                                                                                        |  Page or Method of Filing                                                                                                                 |
|----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------|
| 2.1            | Joint      Plan of Reorganization of AMERCO and AMERCO Real Estate      Company                                                                          | Incorporated      by reference to AMERCO’s Current Report on Form 8-K filed October 20,      2003, file no. 1-11255                      |
| 2.2            | Disclosure      Statement Concerning the Debtors’ Joint Plan of    Reorganization                                                                  | Incorporated      by reference to AMERCO’s Current Report on Form 8-K filed October 20,      2003, file no. 1-11255                      |
| 2.3            | Amended      Joint Plan of Reorganization of AMERCO and AMERCO Real Estate      Company                                                                  | Incorporated      by reference to AMERCO’s Quarterly Report on Form 10-Q for the quarter      ended December 31, 2003, file no. 1-11255  |
| 3.1            | Restated      Articles of Incorporation of AMERCO                                                                                                        | Incorporated      by reference to 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 Quarterly Report on Form 10-Q for the quarter      ended September 30, 1996, file no. 1-11255 |
| 3.3            | Amendment      to Restated By-Laws of AMERCO                                                                                                        | Incorporated      by reference to AMERCO’s Current Report on Form 8-K filed on December 5,      2007, file no. 1-11255                   |
| 4.3            | Indenture      dated as of March 15, 2004, among SAC Holding Corporation and SAC Holding      II Corporation and Law Debenture Trust Company of New York | Incorporated      by reference to AMERCO’s Current Report on Form 8-K filed on March 26,      2004, file no. 1-11255                     |

----

| Exhibit      Number |  Description                                                                                                                                                                                                    |  Page or Method of Filing                                                                                                                 |
|---------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------|
| 4.4                 | Rights      Agreement, dated as of August 7, 1998                                                                                                                                                                                        | Incorporated      by reference to AMERCO’s Quarterly Report on Form 10-Q for the quarter      ended June 30, 1998, file no. 1-11255      |
| 4.5                 | Termination      of Rights Agreement, dated as of March 5, 2008                                                                                                                                                                          | Incorporated      by reference to AMERCO’s Current Report on Form 8-K, filed on March 11,      2008, file no. 1-11255                    |
| 10.1*               | AMERCO      Employee Savings, Profit Sharing and Employee Stock Ownership      Plan                                                                                                                                                      | Incorporated      by reference to AMERCO’s Annual Report on Form 10-K for the year ended      March 31, 1993, file no. 1-11255           |
| 10.1A*              | First      Amendment to the AMERCO Employee Savings, Profit Sharing and Employee      Stock Ownership Plan                                                                                                                               | Incorporated      by reference to AMERCO’s Annual Report on Form 10-K for the year ended      March 31, 2000, file no. 1-11255           |
| 10.3                | SAC      Participation and Subordination Agreement, dated as of March 15, 2004      among SAC Holding Corporation, SAC Holding II Corporation, AMERCO, U-Haul      International, Inc., and Law Debenture Trust Company of New      York | Incorporated      by reference to AMERCO’s Current Report on Form 8-K filed on March 26,      2004, file no. 1-11255                     |
| 10.5                | U-Haul      Dealership Contract                                                                                                                                                                                                          | Incorporated      by reference to AMERCO’s Annual Report on Form 10-K for the year end March      31, 1993, file no. 1-11255             |
| 10.6                | Share      Repurchase and Registration Rights Agreement with Paul F.      Shoen                                                                                                                                                          | Incorporated      by reference to AMERCO’s Annual Report on Form 10-K for the year ended      March 31, 1993, file no. 1-11255           |
| 10.7                | ESOP      Loan Credit Agreement                                                                                                                                                                                                          | Incorporated      by reference to AMERCO’s Annual Report on Form 10-K for the year ended      March 31, 1990, file no. 1-11255           |
| 10.8                | ESOP      Loan Agreement                                                                                                                                                                                                                 | Incorporated      by reference to AMERCO’s Annual Report on Form 10-K for the year ended      March 31, 1990, file no. 1-11255           |
| 10.9                | Trust      Agreement for the AMERCO Employee Savings, Profit Sharing and Employee      Stock Ownership Plan                                                                                                                              | Incorporated      by reference to AMERCO’s Annual Report on Form 10-K for the year ended      March 31, 1990, file no. 1-11255           |
| 10.10               | Amended      Indemnification Agreement                                                                                                                                                                                                   | Incorporated      by reference to AMERCO’s Annual Report on Form 10-K for the year ended      March 31, 1990, file no. 1-11255           |
| 10.11               | Indemnification      Trust Agreement                                                                                                                                                                                                     | Incorporated      by reference to AMERCO’s Annual Report on Form 10-K for the year ended      March 31, 1990, file no. 1-11255           |
| 10.13               | Management      Agreement between Four SAC Self-Storage Corporation and subsidiaries of      AMERCO                                                                                                                                      | Incorporated      by reference to AMERCO’s Annual Report on Form 10-K for the year ended      March 31, 1997, file no. 1-11255           |
| 10.17               | Management      Agreement between Five SAC Self-Storage Corporation and subsidiaries of      AMERCO                                                                                                                                      | Incorporated      by reference to AMERCO’s Annual Report on Form 10-K for the year ended      March 31, 1999, file no. 1-11255           |
| 10.31               | Management      Agreement between Eighteen SAC Self-Storage Corporation and      U-Haul                                                                                                                                                  | Incorporated      by reference to AMERCO’s Quarterly Report on Form 10-Q for the quarter      ended September 30, 2002, file no. 1-11255 |
| 10.32               | Management      Agreement between Nineteen SAC Self-Storage Limited Partnership and      U-Haul                                                                                                                                          | Incorporated      by reference to AMERCO’s Quarterly Report on Form 10-Q for the quarter      ended September 30, 2002, file no.1-11255  |

----

| Exhibit      Number |  Description                                                                                                                                                       |  Page or Method of Filing                                                                                                                 |
|---------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------|
| 10.33               | Management      Agreement between Twenty SAC Self-Storage Corporation and      U-Haul                                                                                   | Incorporated      by reference to AMERCO’s Quarterly Report on Form 10-Q for the quarter      ended September 30, 2002, file no. 1-11255 |
| 10.34               | Management      Agreement between Twenty-One SAC Self-Storage Corporation and      U-Haul                                                                               | Incorporated      by reference to AMERCO’s Quarterly Report on Form 10-Q for the quarter      ended September 30, 2002, file no. 1-11255 |
| 10.35               | Management      Agreement between Twenty-Two SAC Self-Storage Corporation and      U-Haul                                                                               | Incorporated      by reference to AMERCO’s Quarterly Report on Form 10-Q for the quarter      ended September 30, 2002, file no. 1-11255 |
| 10.36               | Management      Agreement between Twenty-Three SAC Self-Storage Corporation and      U-Haul                                                                             | Incorporated      by reference to AMERCO’s Quarterly Report on Form 10-Q for the quarter      ended September 30, 2002, file no. 1-11255 |
| 10.37               | Management      Agreement between Twenty-Four SAC Self-Storage Limited Partnership and      U-Haul                                                                      | Incorporated      by reference to AMERCO’s Quarterly Report on Form 10-Q for the quarter      ended September 30, 2002, file no. 1-11255 |
| 10.38               | Management      Agreement between Twenty-Five SAC Self-Storage Limited Partnership and      U-Haul                                                                      | Incorporated      by reference to AMERCO’s Quarterly Report on Form 10-Q for the quarter      ended September 30, 2002, file no. 1-11255 |
| 10.39               | Management      Agreement between Twenty-Six SAC Self-Storage Limited Partnership and      U-Haul                                                                       | Incorporated      by reference to AMERCO’s Quarterly Report on Form 10-Q for the quarter      ended September 30, 2002, file no. 1-11255 |
| 10.40               | Management      Agreement between Twenty-Seven SAC Self-Storage Limited Partnership and      U-Haul                                                                     | Incorporated      by reference to AMERCO’s Quarterly Report on Form 10-Q for the quarter      ended September 30, 2002, file no. 1-11255 |
| 10.48               | Amended      and Restated Promissory Note between SAC Holding Corporation and U-Haul      International, Inc. (in an aggregate principal amount up to      $47,500,000) | Incorporated      by reference to AMERCO’s Form S-4 Registration Statement, no.      333-114042                                          |
| 10.49               | Amended      and Restated Promissory Note between SAC Holding Corporation and U-Haul      International, Inc. (in an aggregate principal amount up to      $76,000,000) | Incorporated      by reference to AMERCO’s Form S-4 Registration Statement, no.      333-114042                                          |
| 10.50               | Property      Management Agreement                                                                                                                                      | Incorporated      by reference to AMERCO’s Annual Report on Form 10-K for the year ended      March 31, 2004, file no. 1-11255           |
| 10.51               | Property      Management Agreements among Three-A through Three-D SAC Self-Storage      Limited Partnership and the subsidiaries of U-Haul International,      Inc.     | Incorporated      by reference to AMERCO’s Quarterly Report on Form 10-Q for the quarter      ended June 30, 2004, file no. 1-11255      |
| 10.52               | U-Haul      Dealership Contract between U-Haul Leasing & Sales Co., and U-Haul      Moving Partners, Inc.                                                           | Incorporated      by reference to AMERCO’s Quarterly Report on Form 10-Q for the quarter      ended June 30, 2004, file no. 1-11255      |
| 10.53               | Property      Management Agreement between Mercury Partners, LP, Mercury 99, LLC and      U-Haul Self-Storage Management (WPC), Inc.                                    | Incorporated      by reference to AMERCO’s Quarterly Report on Form 10-Q for the quarter      ended June 30, 2004, file no. 1-11255      |
| 10.54               | Property      Management Agreement between Three-SAC Self-Storage Corporation and U-Haul      Co. (Canada), Ltd.                                                        | Incorporated      by reference to AMERCO’s Quarterly Report on Form 10-Q for the quarter      ended June 30, 2004, file no.1-11255       |

----

| Exhibit      Number |  Description                                                                                                                                                                                                                                                                                                                          |  Page      or Method of Filing                                                                                                           |
|---------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------|
| 10.56               | Property      Management Agreement among subsidiaries of U-Haul International and Galaxy      Storage Two, L.P.                                                                                                                                                                                                                            | Incorporated      by reference to AMERCO’s Quarterly Report on Form 10-Q for the quarter      ended December 31, 2004, file no. 1-11255 |
| 10.58               | Merrill      Lynch Commitment Letter (re first mortgage loan)                                                                                                                                                                                                                                                                              | Incorporated      by reference to AMERCO’s Current Report on Form 8-K, filed on May 13,      2005, file no. 1-11255                     |
| 10.61               | Morgan      Stanley Commitment Letter                                                                                                                                                                                                                                                                                                      | Incorporated      by reference to AMERCO’s Current Report on Form 8-K, filed on May 13,      2005, file no. 1-11255                     |
| 10.62               | Merrill      Lynch Commitment Letter (re loan to Amerco Real Estate      Company)                                                                                                                                                                                                                                                          | Incorporated      by reference to AMERCO’s Current Report on Form 8-K, filed on May 13,      2005, file no. 1-11255                     |
| 10.64               | Refinance      Closing Docs                                                                                                                                                                                                                                                                                                                | Incorporated      by reference to AMERCO’s Current Reporton      Form 8-K, filed June 14, 2005, file no. 1-11255                        |
| 10.65               | Amended      and Restated Credit Agreement, dated June 8, 2005, among Amerco Real      Estate Company, Amerco Real Estate Company of Texas, Inc., Amerco Real      Estate Company of Alabama Inc., U-Haul Co. of Florida, Inc., U-Haul      International, Inc. and Merrill Lynch Commercial Finance    Corp.                              | Incorporated      by reference to AMERCO’s Current Report on Form 8-K, filed June 14, 2005,      file no. 1-11255                       |
| 10.66               | Security      Agreement dated June 8, 2005, by Amerco Real Estate Company, Amerco Real      Estate Company of Texas, Inc., Amerco Real Estate Company of Alabama,      Inc., U-Haul Co. of Florida, Inc., U-Haul International, Inc. and the      Marketing Grantors named therein in favor of Merrill Lynch Commercial      Finance Corp. | Incorporated      by reference to AMERCO’s Current Report on Form 8-K, filed June 14, 2005,      file no. 1-11255                       |
| 10.67               | Guarantee,      dated June 8, 2005, by U-Haul International, Inc. in favor of Merrill      Lynch Commercial Finance Corp.                                                                                                                                                                                                                  | Incorporated      by reference to AMERCO’s Current Report on Form 8-K, filed June 14, 2005,      file no. 1-11255                       |
| 10.68               | Promissory      Note, dated June 8, 2005 by Amerco Real Estate Company, Amerco Real Estate      Company of Texas, Inc., Amerco Real Estate Company of Alabama, Inc.,      U-Haul Co. of Florida, Inc. and U-Haul International, Inc.                                                                                                       | Incorporated      by reference to AMERCO’s Current Report on Form 8-K, filed June 14, 2005,      file no. 1-11255                       |
| 10.69               | Form      of Mortgage, Security Agreement, Assignment of Rents and Fixture Filing,      dated June 8, 2005 in favor of Morgan Stanley Mortgage Capital      Inc.                                                                                                                                                                           | Incorporated      by reference to AMERCO’s Current Report on Form 8-K, filed June 14, 2005,      file no. 1-11255                       |
| 10.70               | Form      of Promissory Note, dated June 8, 2005, in favor of Morgan Stanley      Mortgage Capital Inc.                                                                                                                                                                                                                                    | Incorporated      by reference to AMERCO’s Current Report on Form 8-K, filed June 14, 2005,      file no. 1-11255                       |
| 10.71               | Form      of Mortgage, Security Agreement, Assignment of Rents and Fixture Filing,      dated June 8, 2005, in favor of Merrill Lynch Mortgage Lending,      Inc.                                                                                                                                                                          | Incorporated      by reference to AMERCO’s Current Report on Form 8-K, filed June 14, 2005,      file no. 1-11255                       |
| 10.72               | Form      of Promissory Note, dated June 8, 2005, in favor of Merrill Lynch Mortgage      Lending, Inc.                                                                                                                                                                                                                                    | Incorporated      by reference to AMERCO’s Current Report on Form 8-K, filed June 14, 2005,      file no. 1-11255                       |
| 10.78               | Property      Management Agreement between Subsidiaries of U-Haul and Five SAC RW MS,      LLC., dated August 17, 2005.                                                                                                                                                                                                                    | Incorporated      by reference to AMERCO’s Quarterly Report on Form 10-Q for the quarter      ended September 30, 2005, file no.1-11255 |

----

| Exhibit      Number |  Description                                                                                                                                                                                                                                             |  Page      or Method of Filing                                                                                                             |
|---------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------|
| 10.79               | Credit      agreement, dated November 10, 2005, among U-Haul Leasing & Sales Co.,      U-Haul Company of Arizona and U-Haul International, Inc. and Merrill Lynch      Commercial Finance Corporation.                                                    | Incorporated      by reference to AMERCO’s Current Report on Form 8-K, filed November 17,      2005, file no. 1-11255                     |
| 10.80               | Property      Management Agreement between Subsidiaries of U-Haul and Five SAC 905,      LLC., dated September 23, 2005.                                                                                                                                      | Incorporated      by reference to AMERCO’s Quarterly Report on Form 10-Q for the quarter      ended December 31, 2005, file no. 1-11255   |
| 10.81               | Property      Management Agreements between Subsidiaries of U-Haul and subsidiaries of      PM Partners, LP, dated June 25, 2005.                                                                                                                             | Incorporated      by reference to AMERCO’s  Annual Report on Form 10-K for the      year ended March 31, 2006, file no. 1-11255 |
| 10.82               | Promissory      note, dated December 1, 2005, by Private Mini Storage Realty, LP in favor      of AMERCO.                                                                                                                                                     | Incorporated      by reference to AMERCO’s  Annual Report on Form 10-K for the      year ended March 31, 2006, file no. 1-11255 |
| 10.83               | Promissory      note dated December 1, 2005 by PMSI Investments, LP in favor of U-Haul      International, Inc.                                                                                                                                               | Incorporated      by reference to AMERCO’s  Annual Report on Form 10-K for the      year ended March 31, 2006, file no. 1-11255 |
| 10.84               | Property      Management Agreements between Subsidiaries of U-Haul and subsidiaries of      PM Preferred Properties, LP., dated June 25, 2005                                                                                                                 | Incorporated      by reference to AMERCO’s  Annual Report on Form 10-K for the      year ended March 31, 2006, file no. 1-11255 |
| 10.85               | Credit      Agreement executed June 7, 2006, among U-Haul Leasing & Sales Co.,      U-Haul Co. of Arizona and U-Haul International, Inc. and BTMU Capital      Corporation.                                                                               | Incorporated      by reference to AMERCO’s  Annual Report on Form 10-K for the      year ended March 31, 2006, file no. 1-11255 |
| 10.86               | Security      and Collateral Agreement executed June 7, 2006, by U-Haul International,      Inc., U-Haul Leasing and Sales Co., U-Haul Co. of Arizona, BTMU Capital      Corporation, and Orange Truck Trust 2006                                             | Incorporated      by reference to AMERCO’s  Annual Report on Form 10-K for the      year ended March 31, 2006, file no. 1-11255 |
| 10.87               | Guarantee      executed June 7, 2006, made by U-Haul International, Inc. and AMERCO in      favor of BTMU Capital Corp. and Orange Truck Trust 2006.                                                                                                          | Incorporated      by reference to AMERCO’s  Annual Report on Form 10-K for the      year ended March 31, 2006, file no. 1-11255 |
| 10.89               | First      Amendment to Security Agreement (New Truck Term Loan Facility) executed      June 7, 2006, among U-Haul Leasing and Sales Co., U-Haul Co. of Arizona,      and U-Haul International, Inc., in favor of Merrill Lynch Commercial      Finance Corp. | Incorporated      by reference to AMERCO’s  Annual Report on Form 10-K for the      year ended March 31, 2006, file no. 1-11255 |
| 10.90               | Credit      Agreement dated June 6, 2006, among U-Haul Leasing and Sales Co., U-Haul      Co. of Arizona, and U-Haul International, Inc., and HVB                                                                                                             | Incorporated      by reference to AMERCO’s  Annual Report on Form 10-K for the      year ended March 31, 2006, file no. 1-11255 |
| 10.91               | Security      Agreement dated June 6, 2006, among U-Haul Leasing and Sales Co., U-Haul      Co. of Arizona, and U-Haul International, Inc. in favor of    HVB                                                                                                 | Incorporated      by reference to AMERCO’s  Annual Report on Form 10-K for the      year ended March 31, 2006, file no. 1-11255 |
| 10.92               | Guarantee      dated June 6, 2006, made by U-Haul International, Inc. in favor of      HVB                                                                                                                                                                    | Incorporated      by reference to AMERCO’s  Annual Report on Form 10-K for the      year ended March 31, 2006, file no.1-11255  |

----

| Exhibit      Number |  Description                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |  Page      or Method of Filing                                                                                                             |
|---------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------|
| 10.93               | Stockholder      Agreement dated June 30, 2006 between Edward J. Shoen, James P. Shoen,      Mark V. Shoen, Rosmarie T. Donovan, as Trustee, and Southwest Fiduciary,      Inc., as Trustee                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | Incorporated      by reference to Exhibit 99.2, filed with the Schedule 13-D, filed on July      13, 2006, file number 5-39669                  |
| 10.94               | Amendment      No. 1 to the Amended and Restated Credit Agreement and Security Agreement,      dated as of August 18, 2006, to the Amended and Restated Credit Agreement,      dated as of June 8, 2005, among Amerco Real Estate Company of Texas, Inc.,      Amerco Real Estate Company of Alabama, Inc., U-Haul Co. of Florida, Inc.,      U-Haul International, Inc. and the Marketing Grantors named therein in      favor of Merrill Lynch Commercial Financial Corp.                                                                                                                                                                                                                                                                            | Incorporated      by reference to AMERCO’s Current Report on Form 8-K filed August 23, 2006,      file no. 1-11255                        |
| 10.95               | Stockholder      Agreement dated March 9, 2007 between Edward J. Shoen, James P. Shoen,      Mark V. Shoen, Rosmarie T. Donovan, as Trustee, and Adagio Trust Company,      as Trustee                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | Incorporated      by reference to Exhibit 99.2, filed with the Schedule 13-D, filed on March      9, 2007, file number 5-39669                  |
| 10.96               | Amended      and Restated Credit Agreement, dated as of March 12, 2007, to the Credit      Agreement, dated as of June 28, 2005, among U-Haul Leasing & Sales      Co., U-Haul Company of Arizona and U-Haul International, Inc. and Merrill      Lynch Commercial Finance Corporation.                                                                                                                                                                                                                                                                                                                                                                                                                                                            | Incorporated      by reference to AMERCO’s  Annual Report on Form 10-K for the      year ended March 31, 2007, file no. 1-11255 |
| 10.97               | Amended      and Restated Security Agreement, dated as of March 12, 2007, to the      Security Agreement, dated June 28, 2005, among U-Haul Leasing & Sales      Co., U-Haul Company of Arizona and U-Haul International, Inc. in favor of      Merrill Lynch Commercial Finance Corporation.                                                                                                                                                                                                                                                                                                                                                                                                                                                      | Incorporated      by reference to AMERCO’s  Annual Report on Form 10-K for the      year ended March 31, 2007, file no. 1-11255 |
| 10.98               | 2007-1      BOX TRUCK BASE INDENTURE, dated as of June 1, 2007, among U-HAUL S FLEET,      LLC, a special purpose limited liability company established under the      laws of Nevada, 2007 TM-1, LLC, a special purpose limited liability      company established under the laws of Nevada, 2007 DC-1, LLC, a special      purpose limited liability company established under the laws of Nevada,      and 2007 EL-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”). | Incorporated      by reference to AMERCO’s  Annual Report on Form 10-K for the      year ended March 31, 2007, file no. 1-11255 |
| 10.99               | SCHEDULE      I TO 2007-1 BOX TRUCK BASE INDENTURE, dated as of June 1,      2007.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | Incorporated      by reference to AMERCO’s  Annual Report on Form 10-K for the      year ended March 31, 2007, file no.1-11255  |

----

| Exhibit      Number |  Description                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |  Page      or Method of Filing                                                                                                             |
|---------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------|
| 10.100              | SERIES      2007-1 SUPPLEMENT, dated as of June 1, 2007 (this “Series Supplement”), among U-HAUL S FLEET,      LLC, a special purpose limited liability company established under the      laws of Nevada, 2007 TM-1, LLC, a special purpose limited liability      company established under the laws of Nevada, 2007 DC-1, LLC, a special      purpose limited liability company established under the laws of Nevada,      and 2007 EL-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      2007-1 Base Indenture referred to below, the “Trustee”) and as securities intermediary,      to the 2007-1 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 “2007-1 Base      Indenture”). | Incorporated      by reference to AMERCO’s  Annual Report on Form 10-K for the      year ended March 31, 2007, file no. 1-11255 |
| 10.101              | CARGO      VAN/PICK-UP TRUCK BASE INDENTURE, dated as of June 1, 2007, among U-HAUL S      FLEET, LLC, a special purpose limited liability company established under      the laws of Nevada, 2007 BE-1, LLC, a special purpose limited liability      company established under the laws of Nevada, and 2007 BP-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”).                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | Incorporated      by reference to AMERCO’s  Annual Report on Form 10-K for the      year ended March 31, 2007, file no. 1-11255 |
| 10.102              | SCHEDULE      I TO CARGO VAN/PICK-UP TRUCK BASE INDENTURE, dated as of June 1,      2007.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | Incorporated      by reference to AMERCO’s  Annual Report on Form 10-K for the      year ended March 31, 2007, file no.1-11255  |

----

| Exhibit      Number |  Description                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |  Page      or Method of Filing                                                                                                             |
|---------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------|
| 10.103              | SERIES      2007-1 SUPPLEMENT, dated as of June 1, 2007 (this “Series Supplement”), among U-HAUL S FLEET,      LLC, a special purpose limited liability company established under the      laws of Nevada, 2007 BE-1, LLC, a special purpose limited liability      company established under the laws of Nevada, and 2007 BP-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      Base Indenture referred to below, the “Trustee”) and securities intermediary, to      the Cargo Van/Pick-Up 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 “Base      Indenture”). | Incorporated      by reference to AMERCO’s  Annual Report on Form 10-K for the      year ended March 31, 2007, file no. 1-11255 |
| 10.104              | Amended      and restated Property Management Agreement among Six-A SAC Self-Storage      Corporation and subsidiaries of U-Haul International, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | Incorporated      by reference to AMERCO’s Quarterly Report on Form 10-Q for the quarter      ended September 30, 2007, file no. 1-11255  |
| 10.105              | Amended      and restated Property Management Agreement among Six-B SAC Self-Storage      Corporation and subsidiaries of U-Haul International, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | Incorporated      by reference to AMERCO’s Quarterly Report on Form 10-Q for the quarter      ended September 30, 2007, file no. 1-11255  |
| 10.106              | Amended      and restated Property Management Agreement among Six-C SAC Self-Storage      Corporation and subsidiaries of U-Haul International, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | Incorporated      by reference to AMERCO’s Quarterly Report on Form 10-Q for the quarter      ended September 30, 2007, file no. 1-11255  |
| 10.107              | Amended      and restated Property Management Agreement among Eight SAC Self-Storage      Corporation and subsidiaries of U-Haul International, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | Incorporated      by reference to AMERCO’s Quarterly Report on Form 10-Q for the quarter      ended September 30, 2007, file no. 1-11255  |
| 10.108              | Amended      and restated Property Management Agreement among Nine SAC Self-Storage      Corporation and subsidiaries of U-Haul International, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | Incorporated      by reference to AMERCO’s Quarterly Report on Form 10-Q for the quarter      ended September 30, 2007, file no. 1-11255  |
| 10.109              | Amended      and restated Property Management Agreement among Ten SAC Self-Storage      Corporation and subsidiaries of U-Haul International, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | Incorporated      by reference to AMERCO’s Quarterly Report on Form 10-Q for the quarter      ended September 30, 2007, file no. 1-11255  |
| 10.110              | Amended      and restated Property Management Agreement among Eleven SAC Self-Storage      Corporation and Eleven SAC Self-Storage Odenton, Inc. and subsidiaries of      U-Haul International, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | Incorporated      by reference to AMERCO’s Quarterly Report on Form 10-Q for the quarter      ended September 30, 2007, file no.1-11255   |

----

| Exhibit      Number |  Description                                                                                                                                                                                                                                            |  Page      or Method of Filing                                                                                                            |
|---------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------|
| 10.111              | Amended      and restated Property Management Agreement among Twelve SAC Self-Storage      Corporation and subsidiaries of U-Haul International, Inc.                                                                                                        | Incorporated      by reference to AMERCO’s Quarterly Report on Form 10-Q for the quarter      ended September 30, 2007, file no. 1-11255 |
| 10.112              | Amended      and restated Property Management Agreement among Thirteen SAC Self-Storage      Corporation and subsidiaries of U-Haul International, Inc.                                                                                                      | Incorporated      by reference to AMERCO’s Quarterly Report on Form 10-Q for the quarter      ended September 30, 2007, file no. 1-11255 |
| 10.113              | Amended      and restated Property Management Agreement among Fourteen SAC Self-Storage      Corporation and subsidiaries of U-Haul International, Inc.                                                                                                      | Incorporated      by reference to AMERCO’s Quarterly Report on Form 10-Q for the quarter      ended September 30, 2007, file no. 1-11255 |
| 10.114              | Amended      and restated Property Management Agreement among Fifteen SAC Self-Storage      Corporation and subsidiaries of U-Haul International, Inc.                                                                                                       | Incorporated      by reference to AMERCO’s Quarterly Report on Form 10-Q for the quarter      ended September 30, 2007, file no. 1-11255 |
| 10.115              | Amended      and restated Property Management Agreement among Sixteen SAC Self-Storage      Corporation and subsidiaries of U-Haul International, Inc.                                                                                                       | Incorporated      by reference to AMERCO’s Quarterly Report on Form 10-Q for the quarter      ended September 30, 2007, file no. 1-11255 |
| 10.116              | Amended      and restated Property Management Agreement among Seventeen SAC      Self-Storage Corporation and subsidiaries of U-Haul International,      Inc.                                                                                                | Incorporated      by reference to AMERCO’s Quarterly Report on Form 10-Q for the quarter      ended September 30, 2007, file no. 1-11255 |
| 10.117              | Promissory      Note. SAC Holding Corporation, a Nevada corporation ("Borrower"), pay to      U-Haul International, Inc., a Nevada corporation                                                                                                               | Incorporated      by reference to AMERCO’s Quarterly Report on Form 10-Q for the quarter      ended September 30, 2007, file no. 1-11255 |
| 10.118              | Omnibus      Termination and Release (Aged Truck Revolving Loan Facility), dated      February 8, 2008 among U-Haul Leasing & Sales Co., U-Haul Co. of      Arizona and U-Haul International, Inc. and Merrill Lynch Commercial      Finance Corporation | Incorporated      by reference to AMERCO’s Current Report on Form 8-K filed February 13,      2008, file no. 1-11255                     |
| 14                  | Code      of Ethics                                                                                                                                                                                                                                          | Incorporated      by reference to AMERCO’s Current Report on Form 8-K, filed on May 5, 2004,      file no. 1-11255                       |
| 21                  | Subsidiaries      of AMERCO                                                                                                                                                                                                                                  | Filed      herewith                                                                                                                            |
| 23.1                | Consent      of BDO Seidman, LLP                                                                                                                                                                                                                             | Filed      herewith                                                                                                                            |
| 23.2                | Consent      of Semple, Marchal and Cooper, LLP                                                                                                                                                                                                              | Filed      herewith                                                                                                                            |
| 24                  | Power      of Attorney                                                                                                                                                                                                                                       | Refer      to signature page                                                                                                                   |
| 31.1                | Rule      13a-14(a)/15d-14(a) Certificate of Edward J. Shoen, President and Chairman      of the Board of AMERCO                                                                                                                                             | Filed      herewith                                                                                                                            |
| 31.2                | Rule      13a-14(a)/15d-14(a) Certificate of Jason A. Berg, Chief Accounting Officer      of AMERCO                                                                                                                                                          | Filed      herewith                                                                                                                            |
| 32.1                | Certificate      of Edward J. Shoen, President and Chairman of the Board of AMERCO pursuant      to Section 906 of the Sarbanes-Oxley Act of 2002                                                                                                            | Furnished      herewith                                                                                                                        |

----

|  Exhibit Number |  Description                                                                                                                    |  Page      or Method of Filing |
|----------------------|--------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------|
| 32.2                 | Certificate      of Jason A. Berg, Chief Accounting Officer of AMERCO pursuant to Section      906 of the Sarbanes-Oxley Act of 2002 | Furnished      herewith             |

----

----

----

|                                                                                       |   | March      31,      |       |
|--------------------------------------------------------------------------------------------|--------|---------------------|------------|
|                                                                                       |   | 2008                |       |   | 2007 |   |
|                                                                                       |   | (In      thousands) |       |
| ASSETS                                                                                     |   |                |       |   |   |   |
| Cash      and cash equivalents                                                             |   | $                   | 206,622    |   |   | $ | 75,272 |   |
| Reinsurance      recoverables and trade receivables, net                                   |   |                | 201,116    |   |   |   | 184,617 |   |
| Notes      and mortgage receivables, net                                                   |   |                | 2,088      |   |   |   | 1,669 |   |
| Inventories,      net                                                                      |   |                | 65,349     |   |   |   | 67,023 |   |
| Prepaid      expenses                                                                      |   |                | 56,159     |   |   |   | 52,080 |   |
| Investments,      fixed maturities and marketable equities                                 |   |                | 633,784    |   |   |   | 681,801 |   |
| Investments,      other                                                                    |   |                | 185,591    |   |   |   | 178,699 |   |
| Deferred      policy acquisition costs, net                                                |   |                | 35,578     |   |   |   | 44,514 |   |
| Other      assets                                                                          |   |                | 131,138    |   |   |   | 95,123 |   |
| Related      party assets                                                                  |   |                | 303,886    |   |   |   | 245,179 |   |
|                                                                                       |   |                | 1,821,311  |   |   |   | 1,625,977 |   |
| Property,      plant and equipment, at cost:                                               |   |                |       |   |   |   |   |   |
| Land                                                                                       |   |                | 208,164    |   |   |   | 202,917 |   |
| Buildings      and improvements                                                            |   |                | 859,882    |   |   |   | 802,289 |   |
| Furniture      and equipment                                                               |   |                | 309,960    |   |   |   | 301,751 |   |
| Rental      trailers and other rental equipment                                            |   |                | 205,572    |   |   |   | 200,208 |   |
| Rental      trucks                                                                         |   |                | 1,734,425  |   |   |   | 1,604,123 |   |
| SAC      Holding II - property, plant and equipment                                        |   |                | -          |   |   |   | 80,349 |   |
|                                                                                       |   |                | 3,318,003  |   |   |   | 3,191,637 |   |
| Less:      Accumulated depreciation                                                        |   |                | (1,306,827 | ) |   |   | (1,294,566 | ) |
| Total      property, plant and equipment                                                   |   |                | 2,011,176  |   |   |   | 1,897,071 |   |
| Total      assets                                                                          |   | $                   | 3,832,487  |   |   | $ | 3,523,048 |   |
| LIABILITIES      AND STOCKHOLDERS' EQUITY                                                  |   |                |       |   |   |   |   |   |
| Liabilities:                                                                               |   |                |       |   |   |   |   |   |
| Accounts      payable and accrued expenses                                                 |   | $                   | 292,526    |   |   | $ | 251,197 |   |
| AMERCO's      notes and loans payable                                                      |   |                | 1,504,677  |   |   |   | 1,181,165 |   |
| SAC      Holding II notes and loans payable, non-recourse to AMERCO                        |   |                | -          |   |   |   | 74,887 |   |
| Policy      benefits and losses, claims and loss expenses payable                          |   |                | 789,374    |   |   |   | 768,751 |   |
| Liabilities      from investment contracts                                                 |   |                | 339,198    |   |   |   | 386,640 |   |
| Other      policyholders' funds and liabilities                                            |   |                | 10,467     |   |   |   | 10,563 |   |
| Deferred      income                                                                       |   |                | 11,781     |   |   |   | 16,478 |   |
| Deferred      income taxes                                                                 |   |                | 126,033    |   |   |   | 113,170 |   |
| Related      party liabilities                                                             |   |                | -          |   |   |   | 2,099 |   |
| Total      liabilities                                                                     |   |                | 3,074,056  |   |   |   | 2,804,950 |   |
| Commitments      and contingencies (notes 9, 15,16, 17 and 19)                             |   |                |       |   |   |   |   |   |
| Stockholders'      equity:                                                                 |   |                |       |   |   |   |   |   |
| Series      preferred stock, with or without par value, 50,000,000 shares      authorized: |   |                |       |   |   |   |   |   |
| Series      A preferred stock, with no par value, 6,100,000 shares      authorized;        |   |                |       |   |   |   |   |   |
| 6,100,000      shares issued and outstanding as of March 31, 2008 and2007                  |   |                | -          |   |   |   | - |   |
| Series      B preferred stock, with no par value, 100,000 shares authorized;      none     |   |                |       |   |   |   |   |   |
| issued      and outstanding as of March 31, 2008 and 2007                                  |   |                | -          |   |   |   | - |   |
| Series      common stock, with or without par value, 150,000,000 shares      authorized:   |   |                |       |   |   |   |   |   |
| Series      A common stock of $0.25 par value, 10,000,000 shares      authorized;          |   |                |       |   |   |   |   |   |
| none      issued as of March 31, 2008 and March 31, 2007                                   |   |                | -          |   |   |   | - |   |
| Common      stock of $0.25 par value, 150,000,000 shares authorized;      41,985,700       |   |                |       |   |   |   |   |   |
| issued      as of March 31, 2008 and March 31, 2007                                        |   |                | 10,497     |   |   |   | 10,497 |   |
| Additional      paid-in capital                                                            |   |                | 419,370    |   |   |   | 375,412 |   |
| Accumulated      other comprehensive loss                                                  |   |                | (55,279    | ) |   |   | (41,779 | ) |
| Retained      earnings                                                                     |   |                | 915,415    |   |   |   | 849,300 |   |
| Cost      of common shares in treasury, net (22,354,386 and 21,440,387 shares as      of   |   |                |       |   |   |   |   |   |
| March      31, 2008 and 2007)                                                              |   |                | (524,677   | ) |   |   | (467,198 | ) |
| Unearned      employee stock ownership plan shares                                         |   |                | (6,895     | ) |   |   | (8,134 | ) |
| Total      stockholders' equity                                                            |   |                | 758,431    |   |   |   | 718,098 |   |
| Total      liabilities and stockholders' equity                                            |   | $                   | 3,832,487  |   |   | $ | 3,523,048 |   |

----

AMERCO AND CONSOLIDATED ENTITIES 

|                                                               |   | Years      Ended March 31,                           |       |
|--------------------------------------------------------------------|--------|------------------------------------------------------|------------|
|                                                               |   | 2008                                                 |       |   | 2007 |   |   | 2006 |   |
|                                                               |   | (In      thousands, except share and per share data) |       |
| Revenues:                                                          |   |                                                 |       |   |   |   |   |   |   |
| Self-moving      equipment rentals                                 |   | $                                                    | 1,451,292  |   |   | $ | 1,462,470 |   |   | $ | 1,489,429 |   |
| Self-storage      revenues                                         |   |                                                 | 122,248    |   |   |   | 126,424 |   |   |   | 119,742 |   |
| Self-moving      and self-storage products and service sales       |   |                                                 | 217,798    |   |   |   | 224,722 |   |   |   | 223,721 |   |
| Property      management fees                                      |   |                                                 | 22,820     |   |   |   | 21,154 |   |   |   | 21,195 |   |
| Life      insurance premiums                                       |   |                                                 | 111,996    |   |   |   | 120,399 |   |   |   | 118,833 |   |
| Property      and casualty insurance premiums                      |   |                                                 | 28,388     |   |   |   | 24,335 |   |   |   | 26,001 |   |
| Net      investment and interest income                            |   |                                                 | 62,110     |   |   |   | 59,696 |   |   |   | 48,279 |   |
| Other      revenue                                                 |   |                                                 | 32,522     |   |   |   | 30,098 |   |   |   | 40,325 |   |
| Total      revenues                                                |   |                                                 | 2,049,174  |   |   |   | 2,069,298 |   |   |   | 2,087,525 |   |
| Costs      and expenses:                                           |   |                                                 |       |   |   |   |   |   |   |   |   |   |
| Operating      expenses                                            |   |                                                 | 1,077,108  |   |   |   | 1,080,412 |   |   |   | 1,082,158 |   |
| Commission      expenses                                           |   |                                                 | 167,945    |   |   |   | 162,899 |   |   |   | 165,961 |   |
| Cost      of sales                                                 |   |                                                 | 120,210    |   |   |   | 117,648 |   |   |   | 113,135 |   |
| Benefits      and losses                                           |   |                                                 | 111,195    |   |   |   | 118,725 |   |   |   | 117,160 |   |
| Amortization      of deferred policy acquisition costs             |   |                                                 | 13,181     |   |   |   | 17,138 |   |   |   | 24,261 |   |
| Lease      expense                                                 |   |                                                 | 133,931    |   |   |   | 147,659 |   |   |   | 136,652 |   |
| Depreciation,      net of (gains) losses on disposals              |   |                                                 | 221,882    |   |   |   | 189,589 |   |   |   | 142,817 |   |
| Total      costs and expenses                                      |   |                                                 | 1,845,452  |   |   |   | 1,834,070 |   |   |   | 1,782,144 |   |
| Earnings      from operations                                      |   |                                                 | 203,722    |   |   |   | 235,228 |   |   |   | 305,381 |   |
| Interest      expense                                              |   |                                                 | (101,420   | ) |   |   | (82,436 | ) |   |   | (69,481 | ) |
| Fees      and amortization on early extinguishment of debt         |   |                                                 | -          |   |   |   | (6,969 | ) |   |   | (35,627 | ) |
| Pretax      earnings                                               |   |                                                 | 102,302    |   |   |   | 145,823 |   |   |   | 200,273 |   |
| Income      tax expense                                            |   |                                                 | (34,518    | ) |   |   | (55,270 | ) |   |   | (79,119 | ) |
| Net      earnings                                                  |   |                                                 | 67,784     |   |   |   | 90,553 |   |   |   | 121,154 |   |
| Less:      Preferred stock dividends                               |   |                                                 | (12,963    | ) |   |   | (12,963 | ) |   |   | (12,963 | ) |
| Earnings      available to common shareholders                     |   | $                                                    | 54,821     |   |   | $ | 77,590 |   |   | $ | 108,191 |   |
| Basic      and diluted earnings per common share                   |   | $                                                    | 2.78       |   |   | $ | 3.72 |   |   | $ | 5.19 |   |
| Weighted      average common shares outstanding: Basic and diluted |   |                                                 | 19,740,571 |   |   |   | 20,838,570 |   |   |   | 20,857,108 |   |

----

AMERCO AND CONSOLIDATED ENTITIES 

| Description                                                                                    |   | Series      A Common Stock, $0.25 Par Value |   |   | Common      Stock, $0.25 Par Value |   |   | Additional      Paid-In Capital |   |   | Accumulated      Other ComprehensiveIncome      (Loss) |   |   | Retained      Earnings |    |   | Less:      Treasury Stock |   |    | Less:      Unearned Employee Stock Ownership Plan Shares |   |   | Total      Stockholders' Equity |   |
|------------------------------------------------------------------------------------------------|--------|---------------------------------------------|--------|--------|------------------------------------|--------|--------|---------------------------------|--------|--------|--------------------------------------------------------|--------|--------|------------------------|---------|--------|---------------------------|--------|---------|----------------------------------------------------------|--------|--------|---------------------------------|--------|
|                                                                                           |   | (In      thousands)                         |   |
| Balance      as of March 31, 2005                                                              |   | $                                           | 929    |   |                               | $      | 9,568  |                            |   | $      | 350,344                                                |   |   | $                      | (24,612 | )      |                      | $      | 665,593 |                                                     |   | $      | (418,092                        | )      |   | $ | (10,891 | ) |   | $ | 572,839 |   |
| Increase      in market value of released ESOP shares and release of unearned ESOP      shares |   |                                        | -      |   |                               |   | -      |                            |   |   | 2,955                                                  |   |   |                   | -       |   |                      |   | -       |                                                     |   |   | -                               |   |   |   | 1,553 |   |   |   | 4,508 |   |
| Foreign      currency translation, net of tax                                                  |   |                                        | -      |   |                               |   | -      |                            |   |   | -                                                      |   |   |                   | (903    | )      |                      |   | -       |                                                     |   |   | -                               |   |   |   | - |   |   |   | (903 | ) |
| Unrealized      loss on investments, net of tax                                                |   |                                        | -      |   |                               |   | -      |                            |   |   | -                                                      |   |   |                   | (7,968  | )      |                      |   | -       |                                                     |   |   | -                               |   |   |   | - |   |   |   | (7,968 | ) |
| Fair      market value of cash flow hedges, net of tax                                         |   |                                        | -      |   |                               |   | -      |                            |   |   | -                                                      |   |   |                   | 4,581   |   |                      |   | -       |                                                     |   |   | -                               |   |   |   | - |   |   |   | 4,581 |   |
| Net      earnings                                                                              |   |                                        | -      |   |                               |   | -      |                            |   |   | -                                                      |   |   |                   | -       |   |                      |   | 121,154 |                                                     |   |   | -                               |   |   |   | - |   |   |   | 121,154 |   |
| Preferred      stock dividends: Series A ($2.13 per share for fiscal2006)                      |   |                                        | -      |   |                               |   | -      |                            |   |   | -                                                      |   |   |                   | -       |   |                      |   | (12,963 | )                                                        |   |   | -                               |   |   |   | - |   |   |   | (12,963 | ) |
| Contribution      from related party                                                           |   |                                        | -      |   |                               |   | -      |                            |   |   | 14,356                                                 |   |   |                   | -       |   |                      |   | -       |                                                     |   |   | -                               |   |   |   | - |   |   |   | 14,356 |   |
| Net      activity                                                                              |   |                                        | -      |   |                               |   | -      |                            |   |   | 17,311                                                 |   |   |                   | (4,290  | )      |                      |   | 108,191 |                                                     |   |   | -                               |   |   |   | 1,553 |   |   |   | 122,765 |   |
| Balance      as of March 31, 2006                                                              |   | $                                           | 929    |   |                               | $      | 9,568  |                            |   | $      | 367,655                                                |   |   | $                      | (28,902 | )      |                      | $      | 773,784 |                                                     |   | $      | (418,092                        | )      |   | $ | (9,338 | ) |   | $ | 695,604 |   |
| Adjustment      to initially apply SAB 108, net of tax                                         |   |                                        | -      |   |                               |   | -      |                            |   |   | -                                                      |   |   |                   | -       |   |                      |   | (1,926  | )                                                        |   |   | -                               |   |   |   | - |   |   |   | (1,926 | ) |
| Adjustment      to initially apply FASB Statement No. 158, net of tax                          |   |                                        | -      |   |                               |   | -      |                            |   |   | -                                                      |   |   |                   | (153    | )      |                      |   | (148    | )                                                        |   |   | -                               |   |   |   | - |   |   |   | (301 | ) |
| Increase      in market value of released ESOP shares and release of unearned ESOP      shares |   |                                        | -      |   |                               |   | -      |                            |   |   | 3,265                                                  |   |   |                   | -       |   |                      |   | -       |                                                     |   |   | -                               |   |   |   | 1,204 |   |   |   | 4,469 |   |
| Foreign      currency translation, net of tax                                                  |   |                                        | -      |   |                               |   | -      |                            |   |   | -                                                      |   |   |                   | (1,919  | )      |                      |   | -       |                                                     |   |   | -                               |   |   |   | - |   |   |   | (1,919 | ) |
| Unrealized      loss on investments, net of tax                                                |   |                                        | -      |   |                               |   | -      |                            |   |   | -                                                      |   |   |                   | (1,072  | )      |                      |   | -       |                                                     |   |   | -                               |   |   |   | - |   |   |   | (1,072 | ) |
| Fair      market value of cash flow hedges, net of tax                                         |   |                                        | -      |   |                               |   | -      |                            |   |   | -                                                      |   |   |                   | (9,733  | )      |                      |   | -       |                                                     |   |   | -                               |   |   |   | - |   |   |   | (9,733 | ) |
| Net      earnings                                                                              |   |                                        | -      |   |                               |   | -      |                            |   |   | -                                                      |   |   |                   | -       |   |                      |   | 90,553  |                                                     |   |   | -                               |   |   |   | - |   |   |   | 90,553 |   |
| Preferred      stock dividends: Series A ($2.13 per share for fiscal2007)                      |   |                                        | -      |   |                               |   | -      |                            |   |   | -                                                      |   |   |                   | -       |   |                      |   | (12,963 | )                                                        |   |   | -                               |   |   |   | - |   |   |   | (12,963 | ) |
| Exchange      of shares                                                                        |   |                                        | (929   | )      |                               |   | 929    |                            |   |   | -                                                      |   |   |                   | -       |   |                      |   | -       |                                                     |   |   | -                               |   |   |   | - |   |   |   | - |   |
| Treasury      stock                                                                            |   |                                        | -      |   |                               |   | -      |                            |   |   | -                                                      |   |   |                   | -       |   |                      |   | -       |                                                     |   |   | (49,106                         | )      |   |   | - |   |   |   | (49,106 | ) |
| Contribution      from related party                                                           |   |                                        | -      |   |                               |   | -      |                            |   |   | 4,492                                                  |   |   |                   | -       |   |                      |   | -       |                                                     |   |   | -                               |   |   |   | - |   |   |   | 4,492 |   |
| Net      activity                                                                              |   |                                        | (929   | )      |                               |   | 929    |                            |   |   | 7,757                                                  |   |   |                   | (12,877 | )      |                      |   | 75,516  |                                                     |   |   | (49,106                         | )      |   |   | 1,204 |   |   |   | 22,494 |   |
| Balance      as of March 31, 2007                                                              |   | $                                           | -      |   |                               | $      | 10,497 |                            |   | $      | 375,412                                                |   |   | $                      | (41,779 | )      |                      | $      | 849,300 |                                                     |   | $      | (467,198                        | )      |   | $ | (8,134 | ) |   | $ | 718,098 |   |
| Adjustment      to initially apply FIN 48                                                      |   |                                        | -      |   |                               |   | -      |                            |   |   | -                                                      |   |   |                   | -       |   |                      |   | 6,826   |                                                     |   |   | -                               |   |   |   | - |   |   |   | 6,826 |   |
| Increase      in market value of released ESOP shares and release of unearned ESOP      shares |   |                                        | -      |   |                               |   | -      |                            |   |   | 2,379                                                  |   |   |                   | -       |   |                      |   | -       |                                                     |   |   | -                               |   |   |   | 1,239 |   |   |   | 3,618 |   |
| Foreign      currency translation, net of tax                                                  |   |                                        | -      |   |                               |   | -      |                            |   |   | -                                                      |   |   |                   | 8,583   |   |                      |   | -       |                                                     |   |   | -                               |   |   |   | - |   |   |   | 8,583 |   |
| Unrealized      gain on investments, net of tax                                                |   |                                        | -      |   |                               |   | -      |                            |   |   | -                                                      |   |   |                   | 1,946   |   |                      |   | -       |                                                     |   |   | -                               |   |   |   | - |   |   |   | 1,946 |   |
| Fair      market value of cash flow hedges, net of tax                                         |   |                                        | -      |   |                               |   | -      |                            |   |   | -                                                      |   |   |                   | (25,473 | )      |                      |   | -       |                                                     |   |   | -                               |   |   |   | - |   |   |   | (25,473 | ) |
| Adjustment      to post retirement benefit obligation                                          |   |                                        | -      |   |                               |   | -      |                            |   |   | -                                                      |   |   |                   | 1,444   |   |                      |   | -       |                                                     |   |   | -                               |   |   |   | - |   |   |   | 1,444 |   |
| Net      earnings                                                                              |   |                                        | -      |   |                               |   | -      |                            |   |   | -                                                      |   |   |                   | -       |   |                      |   | 67,784  |                                                     |   |   | -                               |   |   |   | - |   |   |   | 67,784 |   |
| Preferred      stock dividends: Series A ($2.13 per share for fiscal2008)                      |   |                                        | -      |   |                               |   | -      |                            |   |   | -                                                      |   |   |                   | -       |   |                      |   | (12,963 | )                                                        |   |   | -                               |   |   |   | - |   |   |   | (12,963 | ) |
| Treasury      stock                                                                            |   |                                        | -      |   |                               |   | -      |                            |   |   | -                                                      |   |   |                   | -       |   |                      |   | -       |                                                     |   |   | (57,479                         | )      |   |   | - |   |   |   | (57,479 | ) |
| Contribution      from related party                                                           |   |                                        | -      |   |                               |   | -      |                            |   |   | 46,071                                                 |   |   |                   | -       |   |                      |   | -       |                                                     |   |   | -                               |   |   |   | - |   |   |   | 46,071 |   |
| SAC      Holding II Corporation distribution                                                   |   |                                        | -      |   |                               |   | -      |                            |   |   | (4,492                                                 | )      |   |                   | -       |   |                      |   | 4,468   |                                                     |   |   | -                               |   |   |   | - |   |   |   | (24 | ) |
| Net      activity                                                                              |   |                                        | -      |   |                               |   | -      |                            |   |   | 43,958                                                 |   |   |                   | (13,500 | )      |                      |   | 66,115  |                                                     |   |   | (57,479                         | )      |   |   | 1,239 |   |   |   | 40,333 |   |
| Balance      as of March 31, 2008                                                              |   | $                                           | -      |   |                               | $      | 10,497 |                            |   | $      | 419,370                                                |   |   | $                      | (55,279 | )      |                      | $      | 915,415 |                                                     |   | $      | (524,677                        | )      |   | $ | (6,895 | ) |   | $ | 758,431 |   |

----

AMERCO AND CONSOLIDATED ENTITIES 

|                                                     |   | Years      Ended March 31, |    |
|----------------------------------------------------------|--------|----------------------------|---------|
|                                                     |   | 2008                       |    |   | 2007 |   |   | 2006 |   |
|                                                     |   | (In      thousands)        |    |
|                                                     |   |                       |    |   |   |   |   |   |   |
| Comprehensive      income (loss):                        |   |                       |    |   |   |   |   |   |   |
|  Net      earnings                                  |   | $                          | 67,784  |   |   | $ | 90,553 |   |   | $ | 121,154 |   |
| Other      comprehensive income (loss), net of tax:      |   |                       |    |   |   |   |   |   |   |   |   |   |
|  Foreign      currency translation                  |   |                       | 8,583   |   |   |   | (1,919 | ) |   |   | (903 | ) |
|  Unrealized      gain (loss) on investments, net    |   |                       | 1,946   |   |   |   | (1,072 | ) |   |   | (7,986 | ) |
|  Fair      market value of cash flow hedges         |   |                       | (25,473 | ) |   |   | (9,733 | ) |   |   | 4,581 |   |
|  Postretirement      benefit obligation gain (loss) |   |                       | 1,444   |   |   |   | (153 | ) |   |   | - |   |
|   Total      comprehensive income              |   | $                          | 54,284  |   |   | $ | 77,676 |   |   | $ | 116,846 |   |

----

|                                                                             |   | Years      Ended March 31, |     |
|----------------------------------------------------------------------------------|--------|----------------------------|----------|
|                                                                             |   | 2008                       |     |   | 2007 |   |   | 2006 |   |
|                                                                             |   | (In      thousands)        |     |
|  Cash      flows from operating activities:                                 |   |                       |     |   |   |   |   |   |   |
|  Net      earnings                                                          |   | $                          | 67,784   |   |   | $ | 90,553 |   |   | $ | 121,154 |   |
|  Adjustments      to reconcile net earnings to cash provided by operations: |   |                       |     |   |   |   |   |   |   |   |   |   |
|  Depreciation                                                               |   |                       | 227,798  |   |   |   | 186,106 |   |   |   | 133,572 |   |
|  Amortization      of deferred policy acquisition costs                     |   |                       | 13,181   |   |   |   | 17,138 |   |   |   | 24,261 |   |
|  Change      in allowance for losses on trade receivables                   |   |                       | 76       |   |   |   | 49 |   |   |   | (183 | ) |
|  Change      in allowance for losses on mortgage notes                      |   |                       | (39      | ) |   |   | (40 | ) |   |   | (2,230 | ) |
|  Provision      for inventory reserves                                      |   |                       | 2,746    |   |   |   | 2,679 |   |   |   | 2,458 |   |
|  Net      (gain) loss on sale of real and personal property                 |   |                       | (5,916   | ) |   |   | 3,483 |   |   |   | 9,245 |   |
|  Net      loss on sale of investments                                       |   |                       | 292      |   |   |   | 622 |   |   |   | 2,408 |   |
|  Write-off      of unamortized debt issuance costs                          |   |                       | -        |   |   |   | 6,969 |   |   |   | 13,629 |   |
|  Deferred      income taxes                                                 |   |                       | (10,031  | ) |   |   | 6,972 |   |   |   | 28,429 |   |
|  Net      change in other operating assets and liabilities:                 |   |                       |     |   |   |   |   |   |   |   |   |   |
|  Reinsurance      recoverables and trade receivables                        |   |                       | (16,576  | ) |   |   | 48,907 |   |   |   | 10,661 |   |
|  Inventories                                                                |   |                       | (2,445   | ) |   |   | (4,761 | ) |   |   | (3,596 | ) |
|  Prepaid      expenses                                                      |   |                       | (4,338   | ) |   |   | (8,205 | ) |   |   | (28,809 | ) |
|  Capitalization      of deferred policy acquisition costs                   |   |                       | (7,479   | ) |   |   | (8,168 | ) |   |   | (12,110 | ) |
|  Other      assets                                                          |   |                       | 3,293    |   |   |   | 2,929 |   |   |   | (1,457 | ) |
|  Related      party assets                                                  |   |                       | 33,032   |   |   |   | 8,616 |   |   |   | (8,090 | ) |
|  Accounts      payable and accrued expenses                                 |   |                       | 22,904   |   |   |   | 22,658 |   |   |   | 36,596 |   |
|  Policy      benefits and losses, claims and loss expenses payable          |   |                       | 20,664   |   |   |   | (40,169 | ) |   |   | (4,918 | ) |
|  Other      policyholders' funds and liabilities                            |   |                       | (96      | ) |   |   | 2,709 |   |   |   | (3,908 | ) |
|  Deferred      income                                                       |   |                       | (3,996   | ) |   |   | 1,266 |   |   |   | (2,588 | ) |
|  Related      party liabilities                                             |   |                       | (11,567  | ) |   |   | 10,408 |   |   |   | (44,016 | ) |
|  Net      cash provided by operating activities                             |   |                       | 329,287  |   |   |   | 350,721 |   |   |   | 270,508 |   |
|                                                                             |   |                       |     |   |   |   |   |   |   |   |   |   |
|  Cash      flow from investment activities:                                 |   |                       |     |   |   |   |   |   |   |   |   |   |
|  Purchase      of:                                                          |   |                       |     |   |   |   |   |   |   |   |   |   |
|  Property,      plant and equipment                                         |   |                       | (570,210 | ) |   |   | (648,344 | ) |   |   | (344,382 | ) |
|  Short      term investments                                                |   |                       | (245,345 | ) |   |   | (249,392 | ) |   |   | (534,106 | ) |
|  Fixed      maturity investments                                            |   |                       | (83,651  | ) |   |   | (109,672 | ) |   |   | (260,138 | ) |
|  Equity      securities                                                     |   |                       | (31      | ) |   |   | - |   |   |   | - |   |
|  Preferred      stock                                                       |   |                       | (770     | ) |   |   | - |   |   |   | - |   |
|  Real      estate                                                           |   |                       | (3,098   | ) |   |   | - |   |   |   | - |   |
|  Mortgage      loans                                                        |   |                       | (14,057  | ) |   |   | (10,725 | ) |   |   | (8,868 | ) |
|  Proceeds      from sales of:                                               |   |                       |     |   |   |   |   |   |   |   |   |   |
|  Property,      plant and equipment                                         |   |                       | 166,386  |   |   |   | 89,672 |   |   |   | 59,960 |   |
|  Short      term investments                                                |   |                       | 246,175  |   |   |   | 276,690 |   |   |   | 600,850 |   |
|  Fixed      maturity investments                                            |   |                       | 131,793  |   |   |   | 116,858 |   |   |   | 159,616 |   |
|  Equity      securities                                                     |   |                       | 46       |   |   |   | - |   |   |   | 6,769 |   |
|  Cash      received in excess of purchase of company acquired               |   |                       | -        |   |   |   | 1,235 |   |   |   | - |   |
|  Preferred      stock                                                       |   |                       | 5,625    |   |   |   | 1,225 |   |   |   | 11,650 |   |
|  Real      estate                                                           |   |                       | 912      |   |   |   | 6,870 |   |   |   | 36,388 |   |
|  Mortgage      loans                                                        |   |                       | 8,146    |   |   |   | 7,062 |   |   |   | 11,762 |   |
|  Payments      from notes and mortgage receivables                          |   |                       | 117      |   |   |   | 902 |   |   |   | 1,663 |   |
|  Net      cash used by investing activities                                 |   |                       | (357,962 | ) |   |   | (517,619 | ) |   |   | (258,836 | ) |
|                                                                             |   |                       |     |   |   |   |   |   |   |   |   |   |
|  Cash      flow from financing activities:                                  |   |                       |     |   |   |   |   |   |   |   |   |   |
|  Borrowings      from credit facilities                                     |   |                       | 616,710  |   |   |   | 410,189 |   |   |   | 1,277,047 |   |
|  Principal      repayments on credit facilties                              |   |                       | (295,387 | ) |   |   | (196,072 | ) |   |   | (1,093,342 | ) |
|  Debt      issuance costs                                                   |   |                       | (11,976  | ) |   |   | (3,058 | ) |   |   | (29,588 | ) |
|  Leveraged      Employee Stock Ownership Plan - Repayment from loan         |   |                       | 1,239    |   |   |   | 1,204 |   |   |   | 1,553 |   |
|  Treasury      stock repurchases                                            |   |                       | (57,478  | ) |   |   | (49,106 | ) |   |   | - |   |
|  Securitization      deposits                                               |   |                       | (32,775  | ) |   |   | - |   |   |   | - |   |
|  Preferred      stock dividends paid                                        |   |                       | (12,963  | ) |   |   | (12,963 | ) |   |   | (12,963 | ) |
|  Investment      contract deposits                                          |   |                       | 18,077   |   |   |   | 16,695 |   |   |   | 20,322 |   |
|  Investment      contract withdrawals                                       |   |                       | (65,518  | ) |   |   | (79,204 | ) |   |   | (75,011 | ) |
|  Net      cash provided by financing activities                             |   |                       | 159,929  |   |   |   | 87,685 |   |   |   | 88,018 |   |
|                                                                             |   |                       |     |   |   |   |   |   |   |   |   |   |
|  Effects      of exchange rate on cash                                      |   |                       | 96       |   |   |   | (974 | ) |   |   | (186 | ) |
|                                                                             |   |                       |     |   |   |   |   |   |   |   |   |   |
|  Increase      (decrease) in cash and cash equivalents                      |   |                       | 131,350  |   |   |   | (80,187 | ) |   |   | 99,504 |   |
|  Cash      and cash equivalents at the beginning of period                  |   |                       | 75,272   |   |   |   | 155,459 |   |   |   | 55,955 |   |
|  Cash      and cash equivalents at the end of period                        |   |                       | 206,622  |   |   | $ | 75,272 |   |   | $ | 155,459 |   |

----

----

----

----

|                                                                                          |   | March      31,      |    |
|-----------------------------------------------------------------------------------------------|--------|---------------------|---------|
|                                                                                          |   | 2008                |    |   | 2007 |   |
|                                                                                          |   | (In      thousands) |    |
| Truck      and trailer parts and accessories (a)                                              |   | $                   | 56,959  |   |   | $ | 56,113 |   |
| Hitches      and towing components (b)                                                        |   |                | 13,538  |   |   |   | 14,169 |   |
| Moving      supplies and propane (b)                                                          |   |                | 7,470   |   |   |   | 6,613 |   |
| Subtotal                                                                                      |   |                | 77,967  |   |   |   | 76,895 |   |
| Less:      LIFO reserves                                                                      |   |                | (11,076 | ) |   |   | (8,372 | ) |
| Less:      excess and obsolete reserves                                                       |   |                | (1,542  | ) |   |   | (1,500 | ) |
| Total                                                                                         |   | $                   | 65,349  |   |   | $ | 67,023 |   |
|                                                                                          |   |                |    |   |   |   |   |   |
|                                                                                          |   |                |    |   |   |   |   |   |
| (a)      Primarily held for internal usage, including equipment manufacturing and      repair |   |                |    |   |   |
| (b)      Primarily held for retail sales                                                      |   |                |    |   |   |   |   |   |

----

----

----

----

SFAS 161, Disclosures about DerivativeInstruments and Hedging Activities which amends 
SFAS No. 133 to require expanded disclosures about derivativeinstruments and hedging activities regarding (1) the ways in which an entityuses derivatives, (2) the accounting for derivatives and hedging activities, and(3) the impact that derivatives have (or could have) on an entity's financialposition, financial performance, and cash flows. SFAS 161 is effective forfinancial statements of fiscal years and interim periods beginning afterNovember 15, 2008, with early application encouraged. While disclosures forearlier comparative periods presented at initial adoption are not required, theyare encouraged; following initial adoption, comparative disclosures are requiredonly for periods aftersuch adoption. The Company is currently evaluating the impact that SFAS 161 willhave on our financial statements and disclosures.

|                                       |   | March      31,      |    |
|--------------------------------------------|--------|---------------------|---------|
|                                       |   | 2008                |    |   | 2007 |   |
|                                       |   | (In      thousands) |    |
| Reinsurance      recoverable               |   | $                   | 164,695 |   |   | $ | 145,643 |   |
| Paid      losses recoverable               |   |                | 4,177   |   |   |   | 8,394 |   |
| Trade      accounts receivable             |   |                | 21,324  |   |   |   | 19,123 |   |
| Accrued      investment income             |   |                | 6,158   |   |   |   | 6,810 |   |
| Premiums      and agents' balances         |   |                | 2,098   |   |   |   | 1,623 |   |
| Independent      dealer receivable         |   |                | 720     |   |   |   | 659 |   |
| Other      receivable                      |   |                | 3,432   |   |   |   | 3,777 |   |
|                                       |   |                | 202,604 |   |   |   | 186,029 |   |
| Less:      Allowance for doubtful accounts |   |                | (1,488  | ) |   |   | (1,412 | ) |
|                                       |   | $                   | 201,116 |   |   | $ | 184,617 |   |

----

|                                                        |   | March      31,      |   |
|-------------------------------------------------------------|--------|---------------------|--------|
|                                                        |   | 2008                |   |   | 2007 |   |
|                                                        |   | (In      thousands) |   |
| Notes,      mortgage receivables and other, net of discount |   | $                   | 2,403  |   |   | $ | 2,023 |   |
| Less:      Allowance for doubtful accounts                  |   |                | (315   | ) |   |   | (354 | ) |
|                                                        |   | $                   | 2,088  |   |   | $ | 1,669 |   |

|                                                     |   | AmortizedCost       |    |   | GrossUnrealizedGains |   |   | GrossUnrealizedLosses      More than 12 Months |   |   | GrossUnrealizedLosses      Less than 12 Months |   |   | EstimatedMarketValue |   |
|----------------------------------------------------------|--------|---------------------|---------|--------|----------------------|--------|--------|------------------------------------------------|--------|--------|------------------------------------------------|--------|--------|----------------------|--------|
|                                                     |   | (In      thousands) |    |
| U.S.      treasury securities and government obligations |   | $                   | 143,969 |   |                 | $      | 2,571  |                                           |   | $      | (5                                             | )      |   | $                    | -      |   |   | $ | 146,535 |   |
| U.S.      government agency mortgage-backed securities   |   |                | 125,569 |   |                 |   | 1,331  |                                           |   |   | (398                                           | )      |   |                 | (282   | ) |   |   | 126,220 |   |
| Obligations      of states and political subdivisions    |   |                | 5,281   |   |                 |   | 20     |                                           |   |   | (5                                             | )      |   |                 | (2     | ) |   |   | 5,294 |   |
| Corporate      securities                                |   |                | 324,890 |   |                 |   | 6,516  |                                           |   |   | (1,889                                         | )      |   |                 | (721   | ) |   |   | 328,796 |   |
| Mortgage-backed      securities                          |   |                | 15,618  |   |                 |   | 93     |                                           |   |   | (199                                           | )      |   |                 | -      |   |   |   | 15,512 |   |
| Redeemable      preferred stocks                         |   |                | 12,509  |   |                 |   | 34     |                                           |   |   | -                                              |   |   |                 | (1,169 | ) |   |   | 11,374 |   |
| Common      stocks                                       |   |                | 106     |   |                 |   | -      |                                           |   |   | (43                                            | )      |   |                 | (10    | ) |   |   | 53 |   |
|                                                     |   | $                   | 627,942 |   |                 | $      | 10,565 |                                           |   | $      | (2,539                                         | )      |   | $                    | (2,184 | ) |   | $ | 633,784 |   |

----

|                                                     |   | AmortizedCost       |    |   | GrossUnrealizedGains |   |   | GrossUnrealizedLosses      More than 12 Months |   |   | GrossUnrealizedLosses      Less than 12 Months |   |   | EstimatedMarketValue |   |
|----------------------------------------------------------|--------|---------------------|---------|--------|----------------------|--------|--------|------------------------------------------------|--------|--------|------------------------------------------------|--------|--------|----------------------|--------|
|                                                     |   | (In      thousands) |    |
| U.S.      treasury securities and government obligations |   | $                   | 159,490 |   |                 | $      | 975    |                                           |   | $      | (2,353                                         | )      |   | $                    | (81    | ) |   | $ | 158,031 |   |
| U.S.      government agency mortgage-backed securities   |   |                | 101,354 |   |                 |   | 442    |                                           |   |   | (578                                           | )      |   |                 | (207   | ) |   |   | 101,011 |   |
| Obligations      of states and political subdivisions    |   |                | 2,027   |   |                 |   | 11     |                                           |   |   | (33                                            | )      |   |                 | -      |   |   |   | 2,005 |   |
| Corporate      securities                                |   |                | 385,723 |   |                 |   | 5,588  |                                           |   |   | (3,464                                         | )      |   |                 | (732   | ) |   |   | 387,115 |   |
| Mortgage-backed      securities                          |   |                | 16,149  |   |                 |   | 50     |                                           |   |   | (233                                           | )      |   |                 | (13    | ) |   |   | 15,953 |   |
| Redeemable      preferred stocks                         |   |                | 17,331  |   |                 |   | 272    |                                           |   |   | -                                              |   |   |                 | (2     | ) |   |   | 17,601 |   |
| Common      stocks                                       |   |                | 112     |   |                 |   | -      |                                           |   |   | (27                                            | )      |   |                 | -      |   |   |   | 85 |   |
|                                                     |   | $                   | 682,186 |   |                 | $      | 7,338  |                                           |   | $      | (6,688                                         | )      |   | $                    | (1,035 | ) |   | $ | 681,801 |   |

|                                        |   | December      31, 2007 |    |   | December      31, 2006 |   |
|---------------------------------------------|--------|------------------------|---------|--------|------------------------|--------|
|                                        |   | AmortizedCost          |    |   | EstimatedMarketValue   |   |   | AmortizedCost |   |   | EstimatedMarketValue |   |
|                                        |   | (In      thousands)    |    |
| Due      in one year or less                |   | $                      | 74,500  |   |                   | $      | 74,615 |   |   | $ | 57,304 |   |   | $ | 57,183 |   |
| Due      after one year through five years  |   |                   | 189,321 |   |                   |   | 191,073 |   |   |   | 227,023 |   |   |   | 225,926 |   |
| Due      after five years through ten years |   |                   | 117,726 |   |                   |   | 118,815 |   |   |   | 166,473 |   |   |   | 165,477 |   |
| After      ten years                        |   |                   | 218,162 |   |                   |   | 222,342 |   |   |   | 197,794 |   |   |   | 199,576 |   |
|                                        |   |                   | 599,709 |   |                   |   | 606,845 |   |   |   | 648,594 |   |   |   | 648,162 |   |
| Mortgage      backed securities             |   |                   | 15,618  |   |                   |   | 15,512 |   |   |   | 16,149 |   |   |   | 15,953 |   |
| Redeemable      preferred stocks            |   |                   | 12,509  |   |                   |   | 11,374 |   |   |   | 17,331 |   |   |   | 17,601 |   |
| Equity      securities                      |   |                   | 106     |   |                   |   | 53 |   |   |   | 112 |   |   |   | 85 |   |
|                                        |   | $                      | 627,942 |   |                   | $      | 633,784 |   |   | $ | 682,186 |   |   | $ | 681,801 |   |

----

|                          |   | March      31,      |    |
|-------------------------------|--------|---------------------|---------|
|                          |   | 2008                |    |   | 2007 |   |
|                          |   | (In      thousands) |    |
| Short-term      investments   |   | $                   | 101,638 |   |   | $ | 102,304 |   |
| Real      estate              |   |                | 17,289  |   |   |   | 18,107 |   |
| Mortgage      loans, net      |   |                | 58,015  |   |   |   | 52,463 |   |
| Policy      loans             |   |                | 4,585   |   |   |   | 4,749 |   |
| Other      equity investments |   |                | 4,064   |   |   |   | 1,076 |   |
|                          |   | $                   | 185,591 |   |   | $ | 178,699 |   |

|                                                                             |   | Year      Ended March 31, |    |
|----------------------------------------------------------------------------------|--------|---------------------------|---------|
|                                                                             |   | 2008                      |    |   | 2007 |   |   | 2006 |   |
|                                                                             |   | (In      thousands)       |    |
| Fixed      maturities                                                            |   | $                         | 46,996  |   |   | $ | 47,304 |   |   | $ | 38,934 |   |
| Real      estate                                                                 |   |                      | (63     | ) |   |   | (95 | ) |   |   | 203 |   |
| Insurance      policy loans                                                      |   |                      | 269     |   |   |   | 280 |   |   |   | 309 |   |
| Mortgage      loans                                                              |   |                      | 4,276   |   |   |   | 4,570 |   |   |   | 4,327 |   |
| Short-term,      amounts held by ceding reinsurers, net and other    investments |   |                      | 5,521   |   |   |   | 5,690 |   |   |   | 5,252 |   |
| Investment      income                                                           |   |                      | 56,999  |   |   |   | 57,749 |   |   |   | 49,025 |   |
| Less:      investment expenses                                                   |   |                      | (1,074  | ) |   |   | (894 | ) |   |   | (2,421 | ) |
| Less:      interest credited on annuity policies                                 |   |                      | (13,509 | ) |   |   | (15,060 | ) |   |   | (16,888 | ) |
| Investment      income - Related party                                           |   |                      | 19,694  |   |   |   | 17,901 |   |   |   | 18,563 |   |
| Net      investment and interest income                                          |   | $                         | 62,110  |   |   | $ | 59,696 |   |   | $ | 48,279 |   |

----

|                                                                                                     |   |               |              |   |       |   |      | March      31,      |   |
|----------------------------------------------------------------------------------------------------------|--------|--------------------|-------------------|--------|------------|--------|-----------|---------------------|--------|
|                                                                                                     |   | 2008      Rate (a) |              |   | Maturities |   |      | 2008                |   |   | 2007 |   |
|                                                                                                     |   |               |              |   |       |   |      | (In      thousands) |   |
| Real      estate loan (amortizing term)                                                                  |   |               | 6.93              | %      |       | 2018   |      |                | $      | 285,000 |   |   | $ | 295,000 |   |
| Real      estate loan (revolving credit)                                                                 |   |               | 4.86              | %      |       | 2018   |      |                |   | 100,000 |   |   |   | - |   |
| Senior      mortgages                                                                                    |   |               | 5.19%      - 5.75 | %      |       |   | 2009-2015 |                |   |   | 511,818 |   |   |   | 521,332 |   |
| Construction      loan (revolving credit)                                                                |   |               | 4.61              | %      |       | 2009   |      |                |   | 30,783 |   |   |   | - |   |
| Working      capital loan (revolving credit)                                                             |   |               | -                 |   |       | 2009   |      |                |   | - |   |   |   | - |   |
| Fleet      loans (amortizing term)                                                                       |   |               | 6.11%      - 7.42 | %      |       |   | 2012-2014 |                |   |   | 288,806 |   |   |   | 364,833 |   |
| Fleet      loan (securitization)                                                                         |   |               | 5.40%      - 5.56 | %      |       |   | 2010-2014 |                |   |   | 288,270 |   |   |   | - |   |
| Total      AMERCO notes and loans payable                                                                |   |               |              |   |       |   |      |                |   | $ | 1,504,677 |   |   | $ | 1,181,165 |   |
|                                                                                                     |   |               |              |   |       |   |      |                |   |   |   |   |   |   |   |   |
| (a)      Interest rate as of March 31, 2008, including the effect of applicable      hedging instruments |   |               |              |   |       |

----

----

|                        |   | March      31,      |    |
|-----------------------------|--------|---------------------|---------|
|                        |   | 2009                |    |   | 2010 |   |   | 2011 |   |   | 2012 |   |   | 2013 |   |   | Thereafter |   |
|                        |   | (In      thousands) |    |
| Notes      payable, secured |   | $                   | 108,753 |   |   | $ | 117,098 |   |   | $ | 153,311 |   |   | $ | 90,662 |   |   | $ | 120,043 |   |   | $ | 914,810 |   |

----

|                                                                                   |   | Year      Ended March 31, |    |
|----------------------------------------------------------------------------------------|--------|---------------------------|---------|
|                                                                                   |   | 2008                      |    |   | 2007 |   |   | 2006 |   |
|                                                                                   |   | (In      thousands)       |    |
| Interest      expense                                                                  |   | $                         | 92,997  |   |   | $ | 75,714 |   |   | $ | 61,285 |   |
| Capitalized      interest                                                              |   |                      | (996    | ) |   |   | (596 | ) |   |   | (151 | ) |
| Amortization      of transaction costs                                                 |   |                      | 5,287   |   |   |   | 3,960 |   |   |   | 3,871 |   |
| Interest      expense (income) resulting from derivatives                              |   |                      | 645     |   |   |   | (2,669 | ) |   |   | (1,655 | ) |
| Write-off      of transactions costs related to early      extinguishment of debt |   |                      | -       |   |   |   | 6,969 |   |   |   | 14,384 |   |
| Fees      on early extinguishment of debt                                              |   |                      | -       |   |   |   | - |   |   |   | 21,243 |   |
| Total      AMERCO interest expense                                                     |   |                      | 97,933  |   |   |   | 83,378 |   |   |   | 98,977 |   |
| SAC      Holding II interest expense                                                   |   |                      | 7,537   |   |   |   | 13,062 |   |   |   | 12,840 |   |
| Less:      Intercompany transactions                                                   |   |                      | (4,050  | ) |   |   | (7,035 | ) |   |   | (6,709 | ) |
| Total      SAC Holding II interest expense                                             |   |                      | 3,487   |   |   |   | 6,027 |   |   |   | 6,131 |   |
| Total                                                                                  |   | $                         | 101,420 |   |   | $ | 89,405 |   |   | $ | 105,108 |   |

----

|                                                |   | Revolving      Credit Activity             |    |
|-----------------------------------------------------|--------|--------------------------------------------|---------|
|                                                |   | Year      Ended March 31,                  |    |
|                                                |   | 2008                                       |    |   | 2007 |   |   | 2006 |   |
|                                                |   | (In      thousands, except interest rates) |    |
| Weighted      average interest rate during the year |   |                                       | 6.25    | % |   |   | 6.76 | % |   |   | 5.95 | % |
| Interest      rate at year end                      |   |                                       | 4.80    | % |   |   | - |   |   |   | 6.45 | % |
| Maximum      amount outstanding during the year     |   | $                                          | 150,783 |   |   | $ | 90,000 |   |   | $ | 158,011 |   |
| Average      amount outstanding during the year     |   | $                                          | 85,522  |   |   | $ | 70,027 |   |   | $ | 96,710 |   |
| Facility      fees                                  |   | $                                          | 419     |   |   | $ | 300 |   |   | $ | - |   |

----

| Period                                                                              |   | Total      # of Shares Repurchased |      |   | Average      Price Paid per Share (1) |   |   | Total      # of Shares Repurchased as Part of Publicly Announced Plan |   |   | Total      $ of Shares Repurchased as Part of Publicly Announced Plan |   |   | Maximum      $ of Shares That May Yet be Repurchased Under the Plan |       |
|-------------------------------------------------------------------------------------|--------|------------------------------------|-----------|--------|---------------------------------------|--------|--------|-----------------------------------------------------------------------|--------|--------|-----------------------------------------------------------------------|--------|--------|---------------------------------------------------------------------|------------|
|                                                                                |   |                               |      |   |                                  |   |   |                                                                  |   |   |                                                                  |   |   |                                                                |       |
| April      1 - 30, 2007                                                             |   |                               | 196,232   |   |                                  | $      | 69.94  |                                                                  |   |   | 196,232                                                               |   |   | $                                                                   | 13,723,504 |   |   | $ | 52,170,394 |   |
| May      1 - 31, 2007                                                               |   |                               | 218,090   |   |                                  |   | 69.85  |                                                                  |   |   | 218,090                                                               |   |   |                                                                | 15,234,536 |   |   |   | 36,935,858 |   |
| June      1 - 30, 2007                                                              |   |                               | 71,677    |   |                                  |   | 69.87  |                                                                  |   |   | 71,677                                                                |   |   |                                                                | 5,008,018  |   |   |   | 31,927,840 |   |
| First      Quarter Total                                                            |   |                               | 485,999   |   |                                  | $      | 69.89  |                                                                  |   |   | 485,999                                                               |   |   | $                                                                   | 33,966,058 |   |   |   |   |   |
|                                                                                |   |                               |      |   |                                  |   |   |                                                                  |   |   |                                                                  |   |   |                                                                |       |   |   |   |   |   |
| Cumulative      Plan Total                                                          |   |                               | 1,225,290 |   |                                  | $      | 67.80  |                                                                  |   |   | 1,225,290                                                             |   |   | $                                                                   | 83,072,160 |   |   |   |   |   |
|                                                                                |   |                               |      |   |                                  |   |   |                                                                  |   |   |                                                                  |   |   |                                                                |       |   |   |   |   |   |
| (1)      Represents weighted average purchase price for the periods      presented. |   |                               |      |   |                                  |   |   |                                                                  |   |

| Period                                                                              |   | Total      # of Shares Repurchased |    |   | Average      Price Paid per Share (1) |   |   | Total      # of Shares Repurchased as Part of Publicly Announced Plan |   |   | Total      $ of Shares Repurchased as Part of Publicly Announced Plan |   |   | Maximum      $ of Shares That May Yet be Repurchased Under the Plan |       |
|-------------------------------------------------------------------------------------|--------|------------------------------------|---------|--------|---------------------------------------|--------|--------|-----------------------------------------------------------------------|--------|--------|-----------------------------------------------------------------------|--------|--------|---------------------------------------------------------------------|------------|
|                                                                                |   |                               |    |   |                                  |   |   |                                                                  |   |   |                                                                  |   |   |                                                                |       |
| January      1 - 31, 2008                                                           |   |                               | -       |   |                                  | $      | -      |                                                                  |   |   | -                                                                     |   |   | $                                                                   | -          |   |   | $ | 50,000,000 |   |
| February      1 - 29, 2008                                                          |   |                               | 428,000 |   |                                  | $      | 54.94  |                                                                  |   |   | 428,000                                                               |   |   | $                                                                   | 23,512,380 |   |   | $ | 26,487,620 |   |
| March      1 - 31, 2008                                                             |   |                               | -       |   |                                  | $      | -      |                                                                  |   |   | -                                                                     |   |   | $                                                                   | -          |   |   | $ | 26,487,620 |   |
| Fourth      Quarter Total                                                           |   |                               | 428,000 |   |                                  | $      | 54.94  |                                                                  |   |   | 428,000                                                               |   |   | $                                                                   | 23,512,380 |   |   |   |   |   |
|                                                                                |   |                               |    |   |                                  |   |   |                                                                  |   |   |                                                                  |   |   |                                                                |       |   |   |   |   |   |
| (1)      Represents weighted average purchase price for the periods      presented. |   |                               |    |   |                                  |   |   |                                                                  |   |

----

|                                             |   | ForeignCurrencyTranslation |    |   | UnrealizedGain      (Loss)on      Investments |   |   | Fair      MarketValue      ofCash      FlowHedge |   |   | Postretirement      Benefit Obligation Gain (Loss) |   |   | AccumulatedOtherComprehensiveIncome      (Loss) |   |
|--------------------------------------------------|--------|----------------------------|---------|--------|-----------------------------------------------|--------|--------|--------------------------------------------------|--------|--------|----------------------------------------------------|--------|--------|-------------------------------------------------|--------|
|                                             |   | (In      thousands)        |    |
| Balance      at March 31, 2005                   |   | $                          | (33,344 | )      |                                          | $      | 8,685  |                                             |   | $      | 47                                                 |   |   | $                                               | -      |   |   | $ | (24,612 | ) |
| Foreign      currency translation                |   |                       | (903    | )      |                                          |   | -      |                                             |   |   | -                                                  |   |   |                                            | -      |   |   |   | (903 | ) |
| Unrealized      loss on investments              |   |                       | -       |   |                                          |   | (7,968 | )                                                |   |   | -                                                  |   |   |                                            | -      |   |   |   | (7,968 | ) |
| Change      in fair value of cash flow hedge     |   |                       | -       |   |                                          |   | -      |                                             |   |   | 4,581                                              |   |   |                                            | -      |   |   |   | 4,581 |   |
| Balance      at March 31, 2006                   |   |                       | (34,247 | )      |                                          |   | 717    |                                             |   |   | 4,628                                              |   |   |                                            | -      |   |   |   | (28,902 | ) |
| Foreign      currency translation                |   |                       | (1,919  | )      |                                          |   | -      |                                             |   |   | -                                                  |   |   |                                            | -      |   |   |   | (1,919 | ) |
| Unrealized      loss on investments              |   |                       | -       |   |                                          |   | (1,072 | )                                                |   |   | -                                                  |   |   |                                            | -      |   |   |   | (1,072 | ) |
| Change      in fair value of cash flow hedge     |   |                       | -       |   |                                          |   | -      |                                             |   |   | (9,733                                             | )      |   |                                            | -      |   |   |   | (9,733 | ) |
| FASB      statement No. 158 adjustment           |   |                       | -       |   |                                          |   | -      |                                             |   |   | -                                                  |   |   |                                            | (153   | ) |   |   | (153 | ) |
| Balance      at March 31, 2007                   |   |                       | (36,166 | )      |                                          |   | (355   | )                                                |   |   | (5,105                                             | )      |   |                                            | (153   | ) |   |   | (41,779 | ) |
| Foreign      currency translation                |   |                       | 8,583   |   |                                          |   | -      |                                             |   |   | -                                                  |   |   |                                            | -      |   |   |   | 8,583 |   |
| Unrealized      gain on investments              |   |                       | -       |   |                                          |   | 1,946  |                                             |   |   | -                                                  |   |   |                                            | -      |   |   |   | 1,946 |   |
| Change      in fair value of cash flow hedge     |   |                       | -       |   |                                          |   | -      |                                             |   |   | (25,473                                            | )      |   |                                            | -      |   |   |   | (25,473 | ) |
| Change      in postretirement benefit obligation |   |                       | -       |   |                                          |   | -      |                                             |   |   | -                                                  |   |   |                                            | 1,444  |   |   |   | 1,444 |   |
| Balance      at March 31, 2008                   |   | $                          | (27,583 | )      |                                          | $      | 1,591  |                                             |   | $      | (30,578                                            | )      |   | $                                               | 1,291  |   |   | $ | (55,279 | ) |

|                           |   | Year      Ended March 31, |    |
|--------------------------------|--------|---------------------------|---------|
|                           |   | 2008                      |    |   | 2007 |   |   | 2006 |   |
|                           |   | (In      thousands)       |    |
| Pretax      earnings (losses): |   |                      |    |   |   |   |   |   |   |
| U.S.                           |   | $                         | 100,151 |   |   | $ | 149,169 |   |   | $ | 199,847 |   |
| Non-U.S.                       |   |                      | 2,151   |   |   |   | (3,346 | ) |   |   | 426 |   |
| Total      pretax earnings     |   | $                         | 102,302 |   |   | $ | 145,823 |   |   | $ | 200,273 |   |
| Provision      for taxes:      |   |                      |    |   |   |   |   |   |   |   |   |   |
| Federal:                       |   |                      |    |   |   |   |   |   |   |   |   |   |
| Current                        |   | $                         | 15,441  |   |   | $ | 47,758 |   |   | $ | 49,652 |   |
| Deferred                       |   |                      | 15,286  |   |   |   | 900 |   |   |   | 16,239 |   |
| State:                         |   |                      |    |   |   |   |   |   |   |   |   |   |
| Current                        |   |                      | 415     |   |   |   | 2,251 |   |   |   | 6,115 |   |
| Deferred                       |   |                      | 1,713   |   |   |   | 5,128 |   |   |   | 6,329 |   |
| Non-U.S.:                      |   |                      |    |   |   |   |   |   |   |   |   |   |
| Current                        |   |                      | 873     |   |   |   | 338 |   |   |   | 439 |   |
| Deferred                       |   |                      | 790     |   |   |   | (1,105 | ) |   |   | 345 |   |
| Total      income tax expense  |   | $                         | 34,518  |   |   | $ | 55,270 |   |   | $ | 79,119 |   |

----

|                                                 |   | Year      Ended March 31, |   |
|------------------------------------------------------|--------|---------------------------|--------|
|                                                 |   | 2008                      |   |   | 2007 |   |   | 2006 |   |
|                                                 |   | (In      percentages)     |   |
| Statutory      federal income tax rate               |   |                      | 35.00  | % |   |   | 35.00 | % |   |   | 35.00 | % |
| Increase      (reduction) in rate resulting from:    |   |                      |   |   |   |   |   |   |   |   |   |   |
| State      and foreign taxes, net of federal benefit |   |                      | 2.99   | % |   |   | 2.78 | % |   |   | 4.41 | % |
| Canadian      subsidiary loss (income)               |   |                      | (0.74  | )% |   |   | 0.80 | % |   |   | (0.07 | )% |
| Interest      on deferred taxes                      |   |                      | 0.88   | % |   |   | 0.69 | % |   |   | 0.44 | % |
| Dividend      received deduction                     |   |                      | -      | % |   |   | (0.03 | )% |   |   | - | % |
| Other                                                |   |                      | (4.39  | )% |   |   | (1.34 | )% |   |   | (0.27 | )% |
| Effective      tax rate                              |   |                      | 33.74  | % |   |   | 37.90 | % |   |   | 39.51 | % |

|                                                                  |   | March      31,      |    |
|-----------------------------------------------------------------------|--------|---------------------|---------|
|                                                                  |   | 2008                |    |   | 2007 |   |
|                                                                  |   | (In      thousands) |    |
| Deferred      tax assets:                                             |   |                |    |   |   |   |
| Net      operating loss and credit carry forwards                     |   | $                   | 5,576   |   |   | $ | 11,342 |   |
| Accrued      expenses                                                 |   |                | 119,458 |   |   |   | 116,989 |   |
| Policy      benefit and losses, claims and loss expenses payable, net |   |                | 13,744  |   |   |   | 13,527 |   |
| Unrealized      gains                                                 |   |                | 13,828  |   |   |   | - |   |
| Other                                                                 |   |                | 4,975   |   |   |   | - |   |
| Total      deferred tax assets                                        |   |                | 157,581 |   |   |   | 141,858 |   |
|                                                                  |   |                |    |   |   |   |   |   |
| Deferred      tax liabilities:                                        |   |                |    |   |   |   |   |   |
| Property,      plant and equipment                                    |   |                | 279,563 |   |   |   | 246,992 |   |
| Deferred      policy acquisition costs                                |   |                | 4,051   |   |   |   | 5,330 |   |
| Other                                                                 |   |                | -       |   |   |   | 625 |   |
| Unrealized      losses                                                |   |                | -       |   |   |   | 2,081 |   |
| Total      deferred tax liabilities                                   |   |                | 283,614 |   |   |   | 255,028 |   |
| Net      deferred tax liability                                       |   | $                   | 126,033 |   |   | $ | 113,170 |   |

----

|                                                              |   | Amount              |   |
|-------------------------------------------------------------------|--------|---------------------|--------|
|                                                              |   | (In      thousands) |   |
|                                                              |   |                |   |
| Unrecognized      tax benefits as of April 1, 2007                |   | $                   | 6,305  |   |
| Additions      based on tax positions related to the current year |   |                | 865    |   |
| Reductions      for tax positions of prior years                  |   |                | (28    | ) |
| Unrecognized      tax benefits as of March 31, 2008               |   | $                   | 7,142  |   |

----

|                |   |                                 |   |   | Interest      Payments |   |
|---------------------|--------|--------------------------------------|--------|--------|------------------------|--------|
| Financing Date      |   | Outstanding      as of March 31,2008 |   |   | 2008                   |   |   | 2007 |   |   | 2006 |   |
|                |   | (In      thousands)                  |   |
| June,      1991     |   | $                                    | 9,214  |   |                   | $      | 675 |   |   | $ | 694 |   |   | $ | 1,070 |   |
| March,      1999    |   |                                 | 40     |   |                   |   | 4 |   |   |   | 5 |   |   |   | 9 |   |
| February,      2000 |   |                                 | 314    |   |                   |   | 27 |   |   |   | 31 |   |   |   | 53 |   |
| April,      2001    |   |                                 | 117    |   |                   |   | 7 |   |   |   | 6 |   |   |   | 10 |   |

|                                 |   | Year      Ended March 31, |   |
|--------------------------------------|--------|---------------------------|--------|
|                                 |   | 2008                      |   |   | 2007 |   |
|                                 |   | (In      thousands)       |   |
| Allocated      shares                |   |                      | 1,418  |   |   |   | 1,416 |   |
| Unreleased      shares               |   |                      | 417    |   |   |   | 494 |   |
| Fair      value of unreleased shares |   | $                         | 18,576 |   |   | $ | 26,288 |   |

----

|                                                     |   | Year      Ended March 31, |   |
|----------------------------------------------------------|--------|---------------------------|--------|
|                                                     |   | 2008                      |   |   | 2007 |   |   | 2006 |   |
|                                                     |   | (In      thousands)       |   |
| Service      cost for benefits earned during the period  |   | $                         | 672    |   |   | $ | 572 |   |   | $ | 373 |   |
| Interest      cost on accumulated postretirement benefit |   |                      | 609    |   |   |   | 464 |   |   |   | 306 |   |
| Other      components                                    |   |                      | -      |   |   |   | (63 | ) |   |   | (299 | ) |
| Net      periodic postretirement benefit cost            |   | $                         | 1,281  |   |   | $ | 973 |   |   | $ | 380 |   |

|                                                                                            |   | Year      Ended March 31, |   |
|-------------------------------------------------------------------------------------------------|--------|---------------------------|--------|
|                                                                                            |   | 2008                      |   |   | 2007 |   |
|                                                                                            |   | (In      thousands)       |   |
| Beginning      of year                                                                          |   | $                         | 10,784 |   |   | $ | 8,183 |   |
| Service      cost for benefits earned during the period                                         |   |                      | 672    |   |   |   | 715 |   |
| Interest      cost on accumulated post retirement benefit                                       |   |                      | 609    |   |   |   | 580 |   |
| Net      benefit payments and expense                                                           |   |                      | (485   | ) |   |   | (429 | ) |
| Actuarial      (gain) loss                                                                      |   |                      | (2,367 | ) |   |   | 1,735 |   |
| Accumulated      postretirement benefit obligation                                              |   |                      | 9,213  |   |   |   | 10,784 |   |
|                                                                                            |   |                      |   |   |   |   |   |   |
| Current      liabilities                                                                        |   |                      | 530    |   |   |   | 387 |   |
| Non-current      liabilities                                                                    |   |                      | 8,683  |   |   |   | 10,397 |   |
|                                                                                            |   |                      |   |   |   |   |   |   |
| Total      post retirement benefit liability recognized in statement of financial      position |   |                      | 9,213  |   |   |   | 10,784 |   |
| Components      included in accumulated other comprehensive income:                             |   |                      |   |   |   |   |   |   |
| Unrecognized      net gain (loss)                                                               |   |                      | 2,116  |   |   |   | (251 | ) |
| Cumulative      net periodic benefit cost (in excess of employer    contribution)               |   | $                         | 11,329 |   |   | $ | 10,533 |   |

|                                               |   | Year      Ended March 31, |   |
|----------------------------------------------------|--------|---------------------------|--------|
|                                               |   | 2008                      |   |   | 2007 |   |   | 2006 |   |
|                                               |   | (In      percentages)     |   |
| Accumulated      postretirement benefit obligation |   |                      | 6.00   | % |   |   | 5.75 | % |   |   | 5.75 | % |

----

|                   |   | Amount              |   |
|------------------------|--------|---------------------|--------|
|                   |   | (In      thousands) |   |
| Year-ended:            |   |                |   |
| 2009                   |   | $                   | 530    |   |
| 2010                   |   |                | 626    |   |
| 2011                   |   |                | 704    |   |
| 2012                   |   |                | 785    |   |
| 2013                   |   |                | 846    |   |
| 2014      through 2018 |   |                | 4,279  |   |
| Total                  |   | $                   | 7,770  |   |

----

|                              |   | DirectAmount      (a) |    |   | Ceded      toOtherCompanies |   |    | Assumedfrom      OtherCompanies |   |   | NetAmount      (a) |   |   | Percentage      ofAmountAssumed      to Net |      |
|-----------------------------------|--------|-----------------------|---------|--------|-----------------------------|--------|---------|---------------------------------|--------|--------|--------------------|--------|--------|---------------------------------------------|-----------|
|                              |   | (In      thousands)   |    |
| Year      ended December 31, 2007 |   |                  |    |   |                        |   |    |                            |   |   |               |   |   |                                        |      |
| Life      insurance in force      |   | $                     | 328,384 |   |                        | $      | 4,682   |                            |   | $      | 1,428,242          |   |   | $                                           | 1,751,944 |   |   |   | 82 | % |
| Premiums      earned:             |   |                  |    |   |                        |   |    |                            |   |   |               |   |   |                                        |      |   |   |   |   |   |
| Life                              |   | $                     | 10,669  |   |                        | $      | 35      |                            |   | $      | 4,823              |   |   | $                                           | 15,457    |   |   |   | 31 | % |
| Accident      and health          |   |                  | 88,658  |   |                        |   | 1,230   |                            |   |   | 5,155              |   |   |                                        | 92,583    |   |   |   | 6 | % |
| Annuity                           |   |                  | 545     |   |                        |   | -       |                            |   |   | 3,411              |   |   |                                        | 3,956     |   |   |   | 86 | % |
| Property      and casualty        |   |                  | 19,373  |   |                        |   | 39      |                            |   |   | 9,054              |   |   |                                        | 28,388    |   |   |   | 32 | % |
| Total                             |   | $                     | 119,245 |   |                        | $      | 1,304   |                            |   | $      | 22,443             |   |   | $                                           | 140,384   |   |   |   |   |   |
|                              |   |                  |    |   |                        |   |    |                            |   |   |               |   |   |                                        |      |   |   |   |   |   |
| Year      ended December 31, 2006 |   |                  |    |   |                        |   |    |                            |   |   |               |   |   |                                        |      |   |   |   |   |   |
| Life      insurance in force      |   | $                     | 393,400 |   |                        | $      | 5,662   |                            |   | $      | 1,483,250          |   |   | $                                           | 1,870,988 |   |   |   | 79 | % |
| Premiums      earned:             |   |                  |    |   |                        |   |    |                            |   |   |               |   |   |                                        |      |   |   |   |   |   |
| Life                              |   | $                     | 9,569   |   |                        | $      | 315     |                            |   | $      | 4,980              |   |   | $                                           | 14,234    |   |   |   | 35 | % |
| Accident      and health          |   |                  | 96,285  |   |                        |   | 1,390   |                            |   |   | 6,234              |   |   |                                        | 101,129   |   |   |   | 6 | % |
| Annuity                           |   |                  | 2,558   |   |                        |   | -       |                            |   |   | 2,478              |   |   |                                        | 5,036     |   |   |   | 49 | % |
| Property      and casualty        |   |                  | 18,710  |   |                        |   | 2,220   |                            |   |   | 7,845              |   |   |                                        | 24,335    |   |   |   | 32 | % |
| Total                             |   | $                     | 127,122 |   |                        | $      | 3,925   |                            |   | $      | 21,537             |   |   | $                                           | 144,734   |   |   |   |   |   |
|                              |   |                  |    |   |                        |   |    |                            |   |   |               |   |   |                                        |      |   |   |   |   |   |
| Year      ended December 31, 2005 |   |                  |    |   |                        |   |    |                            |   |   |               |   |   |                                        |      |   |   |   |   |   |
| Life      insurance in force      |   | $                     | 586,835 |   |                        | $      | 120,220 |                            |   | $      | 1,642,876          |   |   | $                                           | 2,109,491 |   |   |   | 78 | % |
| Premiums      earned:             |   |                  |    |   |                        |   |    |                            |   |   |               |   |   |                                        |      |   |   |   |   |   |
| Life                              |   | $                     | 8,708   |   |                        | $      | 1,862   |                            |   | $      | 7,211              |   |   | $                                           | 14,057    |   |   |   | 51 | % |
| Accident      and health          |   |                  | 91,986  |   |                        |   | 1,887   |                            |   |   | 10,071             |   |   |                                        | 100,170   |   |   |   | 10 | % |
| Annuity                           |   |                  | 2,174   |   |                        |   | -       |                            |   |   | 2,432              |   |   |                                        | 4,606     |   |   |   | 53 | % |
| Property      and casualty        |   |                  | 22,559  |   |                        |   | 3,288   |                            |   |   | 6,730              |   |   |                                        | 26,001    |   |   |   | 26 | % |
| Total                             |   | $                     | 125,427 |   |                        | $      | 7,037   |                            |   | $      | 26,444             |   |   | $                                           | 144,834   |   |   |   |   |   |

----

|                                           |   | Year      Ended December 31, |    |
|------------------------------------------------|--------|------------------------------|---------|
|                                           |   | 2007                         |    |   | 2006 |   |
|                                           |   | (In      thousands)          |    |
| Unpaid      losses and loss adjustment expense |   | $                            | 288,410 |   |   | $ | 288,783 |   |
| Reinsurance      losses payable                |   |                         | 2,708   |   |   |   | 1,999 |   |
| Unearned      premiums                         |   |                         | 200     |   |   |   | 459 |   |
| Total                                          |   | $                            | 291,318 |   |   | $ | 291,241 |   |

|                               |   | Year      Ended December 31, |    |
|------------------------------------|--------|------------------------------|---------|
|                               |   | 2007                         |    |   | 2006 |   |   | 2005 |   |
|                               |   | (In      thousands)          |    |
| Balance      at January 1          |   | $                            | 288,783 |   |   | $ | 346,928 |   |   | $ | 380,875 |   |
| Less:      reinsurance recoverable |   |                         | 144,950 |   |   |   | 181,388 |   |   |   | 189,472 |   |
| Net      balance at January 1      |   |                         | 143,833 |   |   |   | 165,540 |   |   |   | 191,403 |   |
| Incurred      related to:          |   |                         |    |   |   |   |   |   |   |   |   |   |
| Current      year                  |   |                         | 7,094   |   |   |   | 6,006 |   |   |   | 6,429 |   |
| Prior      years                   |   |                         | 11,894  |   |   |   | 15,895 |   |   |   | 16,161 |   |
| Total      incurred                |   |                         | 18,988  |   |   |   | 21,901 |   |   |   | 22,590 |   |
| Paid      related to:              |   |                         |    |   |   |   |   |   |   |   |   |   |
| Current      year                  |   |                         | 3,289   |   |   |   | 3,492 |   |   |   | 3,774 |   |
| Prior      years                   |   |                         | 35,303  |   |   |   | 40,116 |   |   |   | 44,679 |   |
| Total      paid                    |   |                         | 38,592  |   |   |   | 43,608 |   |   |   | 48,453 |   |
| Net      balance at December 31    |   |                         | 124,229 |   |   |   | 143,833 |   |   |   | 165,540 |   |
| Plus:      reinsurance recoverable |   |                         | 164,181 |   |   |   | 144,950 |   |   |   | 181,388 |   |
| Balance      at December 31        |   | $                            | 288,410 |   |   | $ | 288,783 |   |   | $ | 346,928 |   |

----

|               |   | Year      Ended March 31, |    |
|--------------------|--------|---------------------------|---------|
|               |   | 2008                      |    |   | 2007 |   |   | 2006 |   |
|               |   | (In      thousands)       |    |
| Lease      expense |   | $                         | 133,931 |   |   | $ | 147,659 |   |   | $ | 136,652 |   |

|                      |   | Property,Plant      andEquipment |   |   | RentalEquipment |   |    | Total  |   |
|---------------------------|--------|----------------------------------|--------|--------|-----------------|--------|---------|--------|--------|
|                      |   | (In      thousands)              |   |
| Year-ended      March 31: |   |                             |   |   |            |   |    |   |   |
| 2009                      |   | $                                | 12,849 |   |            | $      | 106,341 |   |   | $ | 119,190 |   |
| 2010                      |   |                             | 12,484 |   |            |   | 95,047  |   |   |   | 107,531 |   |
| 2011                      |   |                             | 12,230 |   |            |   | 74,140  |   |   |   | 86,370 |   |
| 2012                      |   |                             | 12,016 |   |            |   | 58,049  |   |   |   | 70,065 |   |
| 2013                      |   |                             | 11,454 |   |            |   | 45,356  |   |   |   | 56,810 |   |
| Thereafter                |   |                             | 17,996 |   |            |   | 32,811  |   |   |   | 50,807 |   |
| Total                     |   | $                                | 79,029 |   |            | $      | 411,744 |   |   | $ | 490,773 |   |

----

----

----

----

|                                                                                                                                                                                                        |   | March      31,      |    |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------|---------|
|                                                                                                                                                                                                        |   | 2008                |    |   | 2007 |   |
|                                                                                                                                                                                                        |   | (In      thousands) |    |
| Private      Mini notes, receivables and interest                                                                                                                                                           |   | $                   | 71,038  |   |   | $ | 71,785 |   |
| Oxford      note receivable from SAC Holdings                                                                                                                                                               |   |                | -       |   |   |   | 5,040 |   |
| U-Haul      notes receivable from SAC Holdings (a)                                                                                                                                                          |   |                | 198,144 |   |   |   | 123,578 |   |
| U-Haul      interest receivable from SAC Holdings (a)                                                                                                                                                       |   |                | 4,498   |   |   |   | 23,361 |   |
| U-Haul      receivable from SAC Holdings (a)                                                                                                                                                                |   |                | 20,617  |   |   |   | 16,596 |   |
| U-Haul      receivable from Mercury                                                                                                                                                                         |   |                | 6,791   |   |   |   | 4,278 |   |
| Other                                                                                                                                                                                                       |   |                | 2,798   |   |   |   | 541 |   |
|                                                                                                                                                                                                        |   | $                   | 303,886 |   |   | $ | 245,179 |   |
|                                                                                                                                                                                                        |   |                |    |   |   |   |   |   |
| (a)      Fiscal 2008 includes both SAC Holding I and SAC Holding II, whereas fiscal      2007 includes SAC Holding I. This is due to the deconsolidation of SAC      Holding II effective October 31, 2007. |   |

|                                        |   | Year      Ended December 31, |    |
|---------------------------------------------|--------|------------------------------|---------|
|                                        |   | 2007                         |    |   | 2006 |   |   | 2005 |   |
|                                        |   | (In      thousands)          |    |
| RepWest:                                    |   |                         |    |   |   |   |   |   |   |
| Audited      statutory net income           |   | $                            | 11,000  |   |   | $ | 8,980 |   |   | $ | 1,825 |   |
| Audited      statutory capital and surplus  |   |                         | 110,197 |   |   |   | 101,236 |   |   |   | 89,824 |   |
| NAFCIC:                                     |   |                         |    |   |   |   |   |   |   |   |   |   |
| Audited      statutory net income (loss)    |   |                         | (95     | ) |   |   | 517 |   |   |   | (82 | ) |
| Audited      statutory capital and surplus  |   |                         | 3,013   |   |   |   | 4,512 |   |   |   | 3,681 |   |
| Oxford:                                     |   |                         |    |   |   |   |   |   |   |   |   |   |
| Audited      statutory net income           |   |                         | 13,038  |   |   |   | 14,869 |   |   |   | 10,237 |   |
| Audited      statutory capital and surplus  |   |                         | 124,015 |   |   |   | 112,998 |   |   |   | 101,466 |   |
| CFLIC:                                      |   |                         |    |   |   |   |   |   |   |   |   |   |
| Audited      statutory net income           |   |                         | 4,066   |   |   |   | 2,652 |   |   |   | 1,470 |   |
| Audited      statutory capital and surplus  |   |                         | 25,075  |   |   |   | 21,040 |   |   |   | 22,455 |   |
| NAI:                                        |   |                         |    |   |   |   |   |   |   |   |   |   |
| Audited      statutory net income           |   |                         | 6,374   |   |   |   | 6,198 |   |   |   | 3,076 |   |
| Audited      statutory capital and surplus  |   |                         | 15,824  |   |   |   | 17,432 |   |   |   | 16,150 |   |
| DGLIC*:                                     |   |                         |    |   |   |   |   |   |   |   |   |   |
| Audited      statutory net income (loss)    |   |                         | 337     |   |   |   | (700 | ) |   |   | - |   |
| Audited      statutory capital and surplus  |   |                         | 4,199   |   |   |   | 4,354 |   |   |   | - |   |
|                                        |   |                         |    |   |   |   |   |   |   |   |   |   |
| *      Acquired by CFLIC February 28, 2006. |   |                         |    |   |   |   |   |   |   |   |   |   |

----

| Year Ended                                                            |   | United      States                           |      |   | Canada |   |    | Consolidated |   |
|-----------------------------------------------------------------------|--------|----------------------------------------------|-----------|--------|--------|--------|---------|--------------|--------|
|                                                                  |   | (All      amounts are in thousands U.S. $'s) |      |
| March      31, 2008                                                   |   |                                         |      |   |   |   |    |         |   |
| Total      revenues                                                   |   | $                                            | 1,938,505 |   |   | $      | 110,669 |         |   | $ | 2,049,174 |   |
| Depreciation      and amortization, net of (gains) losses on disposal |   |                                         | 225,774   |   |   |   | 9,289   |         |   |   | 235,063 |   |
| Interest      expense                                                 |   |                                         | 100,685   |   |   |   | 735     |         |   |   | 101,420 |   |
| Pretax      earnings                                                  |   |                                         | 100,151   |   |   |   | 2,151   |         |   |   | 102,302 |   |
| Income      tax expense                                               |   |                                         | 32,855    |   |   |   | 1,663   |         |   |   | 34,518 |   |
| Identifiable      assets                                              |   |                                         | 3,724,542 |   |   |   | 107,945 |         |   |   | 3,832,487 |   |

| Year Ended                                                            |   | United      States                           |      |   | Canada |   |   | Consolidated |   |
|-----------------------------------------------------------------------|--------|----------------------------------------------|-----------|--------|--------|--------|--------|--------------|--------|
|                                                                  |   | (All      amounts are in thousands U.S. $'s) |      |
| March      31, 2007                                                   |   |                                         |      |   |   |   |   |         |   |
| Total      revenues                                                   |   | $                                            | 1,977,818 |   |   | $      | 91,480 |         |   | $ | 2,069,298 |   |
| Depreciation      and amortization, net of (gains) losses on disposal |   |                                         | 199,485   |   |   |   | 7,242  |         |   |   | 206,727 |   |
| Interest      expense                                                 |   |                                         | 81,882    |   |   |   | 554    |         |   |   | 82,436 |   |
| Pretax      earnings (losses)                                         |   |                                         | 149,169   |   |   |   | (3,346 | )            |   |   | 145,823 |   |
| Income      tax expense (benefit)                                     |   |                                         | 56,037    |   |   |   | (767   | )            |   |   | 55,270 |   |
| Identifiable      assets                                              |   |                                         | 3,434,353 |   |   |   | 88,695 |         |   |   | 3,523,048 |   |

| Year Ended                                                            |   | United      States                           |      |   | Canada |   |   | Consolidated |   |
|-----------------------------------------------------------------------|--------|----------------------------------------------|-----------|--------|--------|--------|--------|--------------|--------|
|                                                                  |   | (All      amounts are in thousands U.S. $'s) |      |
| March      31, 2006                                                   |   |                                         |      |   |   |   |   |         |   |
| Total      revenues                                                   |   | $                                            | 2,003,192 |   |   | $      | 84,333 |         |   | $ | 2,087,525 |   |
| Depreciation      and amortization, net of (gains) losses on disposal |   |                                         | 160,297   |   |   |   | 6,781  |         |   |   | 167,078 |   |
| Interest      expense                                                 |   |                                         | 68,722    |   |   |   | 759    |         |   |   | 69,481 |   |
| Pretax      earnings                                                  |   |                                         | 199,847   |   |   |   | 426    |         |   |   | 200,273 |   |
| Income      tax expense                                               |   |                                         | 78,335    |   |   |   | 784    |         |   |   | 79,119 |   |
| Identifiable      assets                                              |   |                                         | 3,298,572 |   |   |   | 68,646 |         |   |   | 3,367,218 |   |

----

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

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

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

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

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

----

|                                                       |   | Moving      & Storage |      |   | AMERCO      Legal Group |   |
|------------------------------------------------------------|--------|---------------------------|-----------|--------|-------------------------|--------|
|                                                       |   | AMERCO                    |      |   | U-Haul                  |   |   | Real      Estate |   |   | Eliminations |   |   |   | Moving      & StorageConsolidated |   |   | Property      & Casualty Insurance (a) |   |   | LifeInsurance      (a) |   |   | Eliminations |   |   |   | AMERCOConsolidated |   |
|                                                       |   | (In      thousands)       |      |
| Assets:                                                    |   |                      |      |
| Cash      and cash equivalents                             |   | $                         | 30        |   |                    | $      | 191,220 |   |   | $ | - |   |   | $ | - |   |   |   | $ | 191,250 |   |   | $ | 6,848 |   |   | $ | 8,524 |   |   | $ | - |   |   |   | $ | 206,622 |   |
| Reinsurance      recoverables and trade receivables, net   |   |                      | -         |   |                    |   | 20,529 |   |   |   | 27 |   |   |   | - |   |   |   |   | 20,556 |   |   |   | 170,305 |   |   |   | 10,255 |   |   |   | - |   |   |   |   | 201,116 |   |
| Notes      and mortgage receivables, net                   |   |                      | -         |   |                    |   | 1,158 |   |   |   | 930 |   |   |   | - |   |   |   |   | 2,088 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 2,088 |   |
| Inventories,      net                                      |   |                      | -         |   |                    |   | 65,349 |   |   |   | - |   |   |   | - |   |   |   |   | 65,349 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 65,349 |   |
| Prepaid      expenses                                      |   |                      | 4,508     |   |                    |   | 51,418 |   |   |   | 233 |   |   |   | - |   |   |   |   | 56,159 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 56,159 |   |
| Investments,      fixed maturities and marketable equities |   |                      | -         |   |                    |   | - |   |   |   | - |   |   |   | - |   |   |   |   | - |   |   |   | 144,171 |   |   |   | 489,613 |   |   |   | - |   |   |   |   | 633,784 |   |
| Investments,      other                                    |   |                      | -         |   |                    |   | 838 |   |   |   | 13,515 |   |   |   | - |   |   |   |   | 14,353 |   |   |   | 80,786 |   |   |   | 90,452 |   |   |   | - |   |   |   |   | 185,591 |   |
| Deferred      policy acquisition costs, net                |   |                      | -         |   |                    |   | - |   |   |   | - |   |   |   | - |   |   |   |   | - |   |   |   | 30 |   |   |   | 35,548 |   |   |   | - |   |   |   |   | 35,578 |   |
| Other      assets                                          |   |                      | 8         |   |                    |   | 97,285 |   |   |   | 30,494 |   |   |   | - |   |   |   |   | 127,787 |   |   |   | 2,808 |   |   |   | 543 |   |   |   | - |   |   |   |   | 131,138 |   |
| Related      party assets                                  |   |                      | 1,164,092 |   |                    |   | 244,801 |   |   |   | 29,198 |   |   |   | (1,131,730 | ) | (c) |   |   | 306,361 |   |   |   | 7,067 |   |   |   | - |   |   |   | (9,542 | ) | (c) |   |   | 303,886 |   |
|                                                       |   |                      | 1,168,638 |   |                    |   | 672,598 |   |   |   | 74,397 |   |   |   | (1,131,730 | ) |   |   |   | 783,903 |   |   |   | 412,015 |   |   |   | 634,935 |   |   |   | (9,542 | ) |   |   |   | 1,821,311 |   |
|                                                       |   |                      |      |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Investment      in subsidiaries                            |   |                      | (234,927  | )      |                    |   | - |   |   |   | - |   |   |   | 534,247 |   | (b) |   |   | 299,320 |   |   |   | - |   |   |   | - |   |   |   | (299,320 | ) | (b) |   |   | - |   |
|                                                       |   |                      |      |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Property,      plant and equipment, at cost:               |   |                      |      |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Land                                                       |   |                      | -         |   |                    |   | 44,224 |   |   |   | 163,940 |   |   |   | - |   |   |   |   | 208,164 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 208,164 |   |
| Buildings      and improvements                            |   |                      | -         |   |                    |   | 109,826 |   |   |   | 750,056 |   |   |   | - |   |   |   |   | 859,882 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 859,882 |   |
| Furniture      and equipment                               |   |                      | 304       |   |                    |   | 291,561 |   |   |   | 18,095 |   |   |   | - |   |   |   |   | 309,960 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 309,960 |   |
| Rental      trailers and other rental equipment            |   |                      | -         |   |                    |   | 205,572 |   |   |   | - |   |   |   | - |   |   |   |   | 205,572 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 205,572 |   |
| Rental      trucks                                         |   |                      | -         |   |                    |   | 1,734,425 |   |   |   | - |   |   |   | - |   |   |   |   | 1,734,425 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 1,734,425 |   |
|                                                       |   |                      | 304       |   |                    |   | 2,385,608 |   |   |   | 932,091 |   |   |   | - |   |   |   |   | 3,318,003 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 3,318,003 |   |
| Less:  Accumulated      depreciation             |   |                      | (242      | )      |                    |   | (999,040 | ) |   |   | (307,545 | ) |   |   | - |   |   |   |   | (1,306,827 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | (1,306,827 | ) |
| Total      property, plant and equipment                   |   |                      | 62        |   |                    |   | 1,386,568 |   |   |   | 624,546 |   |   |   | - |   |   |   |   | 2,011,176 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 2,011,176 |   |
| Total      assets                                          |   | $                         | 933,773   |   |                    | $      | 2,059,166 |   |   | $ | 698,943 |   |   | $ | (597,483 | ) |   |   | $ | 3,094,399 |   |   | $ | 412,015 |   |   | $ | 634,935 |   |   | $ | (308,862 | ) |   |   | $ | 3,832,487 |   |
|                                                       |   |                      |      |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (a)  Balances      as of December 31, 2007       |   |                      |      |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (b)      Eliminate investment in subsidiaries              |   |                      |      |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (c)      Eliminate intercompany receivables and payables   |   |                      |      |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

|                                                              |   | Moving      & Storage |     |   | AMERCO      Legal Group |   |
|-------------------------------------------------------------------|--------|---------------------------|----------|--------|-------------------------|--------|
|                                                              |   | AMERCO                    |     |   | U-Haul                  |   |   | Real      Estate |   |   | Eliminations |   |   |   | Moving      & StorageConsolidated |   |   | Property      & Casualty Insurance (a) |   |   | LifeInsurance      (a) |   |   | Eliminations |   |   |   | AMERCOConsolidated |   |
|                                                              |   | (In      thousands)       |     |
| Liabilities:                                                      |   |                      |     |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Accounts      payable and accrued expenses                        |   | $                         | 924      |   |                    | $      | 281,666 |   |   | $ | 4,903 |   |   | $ | - |   |   |   | $ | 287,493 |   |   | $ | - |   |   | $ | 5,033 |   |   | $ | - |   |   |   | $ | 292,526 |   |
| AMERCO's      notes and loans payable                             |   |                      | -        |   |                    |   | 630,533 |   |   |   | 874,144 |   |   |   | - |   |   |   |   | 1,504,677 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 1,504,677 |   |
| Policy      benefits and losses, claims and loss expenses payable |   |                      | -        |   |                    |   | 360,308 |   |   |   | - |   |   |   | - |   |   |   |   | 360,308 |   |   |   | 291,318 |   |   |   | 137,748 |   |   |   | - |   |   |   |   | 789,374 |   |
| Liabilities      from investment contracts                        |   |                      | -        |   |                    |   | - |   |   |   | - |   |   |   | - |   |   |   |   | - |   |   |   | - |   |   |   | 339,198 |   |   |   | - |   |   |   |   | 339,198 |   |
| Other      policyholders' funds and liabilities                   |   |                      | -        |   |                    |   | - |   |   |   | - |   |   |   | - |   |   |   |   | - |   |   |   | 6,854 |   |   |   | 3,613 |   |   |   | - |   |   |   |   | 10,467 |   |
| Deferred      income                                              |   |                      | -        |   |                    |   | 11,781 |   |   |   | - |   |   |   | - |   |   |   |   | 11,781 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 11,781 |   |
| Deferred      income taxes                                        |   |                      | 167,523  |   |                    |   | - |   |   |   | - |   |   |   | - |   |   |   |   | 167,523 |   |   |   | (36,783 | ) |   |   | (4,707 | ) |   |   | - |   |   |   |   | 126,033 |   |
| Related      party liabilities                                    |   |                      | -        |   |                    |   | 1,135,916 |   |   |   | - |   |   |   | (1,131,730 | ) | (c) |   |   | 4,186 |   |   |   | 2,048 |   |   |   | 3,308 |   |   |   | (9,542 | ) | (c) |   |   | - |   |
| Total      liabilities                                            |   |                      | 168,447  |   |                    |   | 2,420,204 |   |   |   | 879,047 |   |   |   | (1,131,730 | ) |   |   |   | 2,335,968 |   |   |   | 263,437 |   |   |   | 484,193 |   |   |   | (9,542 | ) |   |   |   | 3,074,056 |   |
|                                                              |   |                      |     |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Stockholders'      equity :                                       |   |                      |     |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Series      preferred stock:                                      |   |                      |     |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Series      A preferred stock                                     |   |                      | -        |   |                    |   | - |   |   |   | - |   |   |   | - |   |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | - |   |
| Series      B preferred stock                                     |   |                      | -        |   |                    |   | - |   |   |   | - |   |   |   | - |   |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | - |   |
| Series      A common stock                                        |   |                      | -        |   |                    |   | - |   |   |   | - |   |   |   | - |   |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | - |   |
| Common      stock                                                 |   |                      | 10,497   |   |                    |   | 540 |   |   |   | 1 |   |   |   | (541 | ) | (b) |   |   | 10,497 |   |   |   | 3,300 |   |   |   | 2,500 |   |   |   | (5,800 | ) | (b) |   |   | 10,497 |   |
| Additional      paid-in capital                                   |   |                      | 419,370  |   |                    |   | 121,230 |   |   |   | 147,481 |   |   |   | (268,711 | ) | (b) |   |   | 419,370 |   |   |   | 86,121 |   |   |   | 26,271 |   |   |   | (112,392 | ) | (b) |   |   | 419,370 |   |
| Accumulated      other comprehensive income (loss)                |   |                      | (55,279  | )      |                    |   | (56,870 | ) |   |   | - |   |   |   | 56,870 |   | (b) |   |   | (55,279 | ) |   |   | 63 |   |   |   | 1,528 |   |   |   | (1,591 | ) | (b) |   |   | (55,279 | ) |
| Retained      earnings (deficit)                                  |   |                      | 915,415  |   |                    |   | (419,043 | ) |   |   | (327,586 | ) |   |   | 746,629 |   | (b) |   |   | 915,415 |   |   |   | 59,094 |   |   |   | 120,443 |   |   |   | (179,537 | ) | (b) |   |   | 915,415 |   |
| Cost      of common shares in treasury, net                       |   |                      | (524,677 | )      |                    |   | - |   |   |   | - |   |   |   | - |   |   |   |   | (524,677 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | (524,677 | ) |
| Unearned      employee stock ownership plan shares                |   |                      | -        |   |                    |   | (6,895 | ) |   |   | - |   |   |   | - |   |   |   |   | (6,895 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | (6,895 | ) |
| Total      stockholders' equity (deficit)                         |   |                      | 765,326  |   |                    |   | (361,038 | ) |   |   | (180,104 | ) |   |   | 534,247 |   |   |   |   | 758,431 |   |   |   | 148,578 |   |   |   | 150,742 |   |   |   | (299,320 | ) |   |   |   | 758,431 |   |
| Total      liabilities and stockholders' equity                   |   | $                         | 933,773  |   |                    | $      | 2,059,166 |   |   | $ | 698,943 |   |   | $ | (597,483 | ) |   |   | $ | 3,094,399 |   |   | $ | 412,015 |   |   | $ | 634,935 |   |   | $ | (308,862 | ) |   |   | $ | 3,832,487 |   |
|                                                              |   |                      |     |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (a)  Balances      as of December 31, 2007              |   |                      |     |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (b)      Eliminate investment in subsidiaries                     |   |                      |     |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (c)      Eliminate intercompany receivables and payables          |   |                      |     |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

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

----

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

----

|                                                                                                        |   | Moving      & Storage |    |   | AMERCO      Legal Group |   |      |             |   |   | AMERCO      as Consolidated |   |
|-------------------------------------------------------------------------------------------------------------|--------|---------------------------|---------|--------|-------------------------|--------|-----------|------------------|--------|--------|-----------------------------|--------|
|                                                                                                        |   | AMERCO                    |    |   | U-Haul                  |   |      | Real      Estate |   |   | Eliminations                |   |   |   | Moving      & StorageConsolidated |   |   | Property      & Casualty Insurance (a) |   |   | LifeInsurance      (a) |   |   | Eliminations |   |   |   |   |   | AMERCOConsolidated |   |   | SAC      Holding II (h) |   |   | Eliminations |   |   |   | Total      Consolidated |   |
|                                                                                                        |   |                      |    |
|                                                                                                        |   | (In      thousands)       |    |
| Revenues:                                                                                                   |   |                      |    |   |                    |   |      |             |   |   |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Self-moving      equipment rentals                                                                          |   | $                         | -       |   |                    | $      | 1,451,292 |             |   | $      | -                           |   |   | $ | - |   |   |   | $ | 1,451,292 |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   |   |   |   | $ | 1,451,292 |   |   | $ | 5,846 |   |   | $ | (5,846 | ) | (b) |   | $ | 1,451,292 |   |
| Self-storage      revenues                                                                                  |   |                      | -       |   |                    |   | 108,965   |             |   |   | 1,814                       |   |   |   | - |   |   |   |   | 110,779 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   | 110,779 |   |   |   | 11,469 |   |   |   | - |   |   |   |   | 122,248 |   |
| Self-moving      & self-storage products & service sales                                            |   |                      | -       |   |                    |   | 207,759   |             |   |   | -                           |   |   |   | - |   |   |   |   | 207,759 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   | 207,759 |   |   |   | 10,039 |   |   |   | - |   |   |   |   | 217,798 |   |
| Property      management fees                                                                               |   |                      | -       |   |                    |   | 24,520    |             |   |   | -                           |   |   |   | - |   |   |   |   | 24,520 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   | 24,520 |   |   |   | - |   |   |   | (1,700 | ) | (g) |   |   | 22,820 |   |
| Life      insurance premiums                                                                                |   |                      | -       |   |                    |   | -         |             |   |   | -                           |   |   |   | - |   |   |   |   | - |   |   |   | - |   |   |   | 111,996 |   |   |   | - |   |   |   |   |   |   | 111,996 |   |   |   | - |   |   |   | - |   |   |   |   | 111,996 |   |
| Property      and casualty insurance premiums                                                               |   |                      | -       |   |                    |   | -         |             |   |   | -                           |   |   |   | - |   |   |   |   | - |   |   |   | 28,388 |   |   |   | - |   |   |   | - |   |   |   |   |   |   | 28,388 |   |   |   | - |   |   |   | - |   |   |   |   | 28,388 |   |
| Net      investment and interest income                                                                     |   |                      | 4,498   |   |                    |   | 30,250    |             |   |   | 158                         |   |   |   | - |   |   |   |   | 34,906 |   |   |   | 12,090 |   |   |   | 20,935 |   |   |   | (1,771 | ) |   |   | (b,d | ) |   |   | 66,160 |   |   |   | - |   |   |   | (4,050 | ) | (d) |   |   | 62,110 |   |
| Other      revenue                                                                                          |   |                      | -       |   |                    |   | 33,645    |             |   |   | 70,163                      |   |   |   | (74,834 | ) | (b) |   |   | 28,974 |   |   |   | - |   |   |   | 4,517 |   |   |   | (1,303 | ) |   | (b) |   |   |   | 32,188 |   |   |   | 748 |   |   |   | (414 | ) | (b) |   |   | 32,522 |   |
| Total      revenues                                                                                         |   |                      | 4,498   |   |                    |   | 1,856,431 |             |   |   | 72,135                      |   |   |   | (74,834 | ) |   |   |   | 1,858,230 |   |   |   | 40,478 |   |   |   | 137,448 |   |   |   | (3,074 | ) |   |   |   |   |   |   | 2,033,082 |   |   |   | 28,102 |   |   |   | (12,010 | ) |   |   |   | 2,049,174 |   |
|                                                                                                        |   |                      |    |   |                    |   |      |             |   |   |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Costs      and expenses:                                                                                    |   |                      |    |   |                    |   |      |             |   |   |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Operating      expenses                                                                                     |   |                      | 10,071  |   |                    |   | 1,094,806 |             |   |   | 9,862                       |   |   |   | (74,834 | ) | (b) |   |   | 1,039,905 |   |   |   | 11,999 |   |   |   | 23,847 |   |   |   | (10,453 | ) |   |   | (b,c,d | ) |   |   | 1,065,298 |   |   |   | 13,510 |   |   |   | (1,700 | ) | (g) |   |   | 1,077,108 |   |
| Commission      expenses                                                                                    |   |                      | -       |   |                    |   | 173,791   |             |   |   | -                           |   |   |   | - |   |   |   |   | 173,791 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   |   | 173,791 |   |   |   | - |   |   |   | (5,846 | ) | (b) |   |   | 167,945 |   |
| Cost      of sales                                                                                          |   |                      | -       |   |                    |   | 115,018   |             |   |   | -                           |   |   |   | - |   |   |   |   | 115,018 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   |   | 115,018 |   |   |   | 5,192 |   |   |   | - |   |   |   |   | 120,210 |   |
| Benefits      and losses                                                                                    |   |                      | -       |   |                    |   | -         |             |   |   | -                           |   |   |   | - |   |   |   |   | - |   |   |   | 19,045 |   |   |   | 83,408 |   |   |   | 8,742 |   |   | (c) |   |   |   | 111,195 |   |   |   | - |   |   |   | - |   |   |   |   | 111,195 |   |
| Amortization      of deferred policy acquisition costs                                                      |   |                      | -       |   |                    |   | -         |             |   |   | -                           |   |   |   | - |   |   |   |   | - |   |   |   | 190 |   |   |   | 12,991 |   |   |   | - |   |   |   |   |   |   |   | 13,181 |   |   |   | - |   |   |   | - |   |   |   |   | 13,181 |   |
| Lease      expense                                                                                          |   |                      | 94      |   |                    |   | 135,401   |             |   |   | 50                          |   |   |   | - |   |   |   |   | 135,545 |   |   |   | - |   |   |   | - |   |   |   | (1,200 | ) |   | (b) |   |   |   | 134,345 |   |   |   | - |   |   |   | (414 | ) | (b) |   |   | 133,931 |   |
| Depreciation,      net of (gains) losses on disposals                                                       |   |                      | 515     |   |                    |   | 220,696   |             |   |   | (476                        | )      |   |   | - |   |   |   |   | 220,735 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   |   | 220,735 |   |   |   | 1,474 |   |   |   | (327 | ) | (e) |   |   | 221,882 |   |
| Total      costs and expenses                                                                               |   |                      | 10,680  |   |                    |   | 1,739,712 |             |   |   | 9,436                       |   |   |   | (74,834 | ) |   |   |   | 1,684,994 |   |   |   | 31,234 |   |   |   | 120,246 |   |   |   | (2,911 | ) |   |   |   |   |   |   | 1,833,563 |   |   |   | 20,176 |   |   |   | (8,287 | ) |   |   |   | 1,845,452 |   |
| Equity      in earnings of subsidiaries                                                                     |   |                      | 15,426  |   |                    |   | -         |             |   |   | -                           |   |   |   | 4,086 |   | (f) |   |   | 19,512 |   |   |   | - |   |   |   | - |   |   |   | (19,512 | ) |   | (f) |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | - |   |
| Equity      in earnings of SAC Holding II                                                                   |   |                      | 222     |   |                    |   | -         |             |   |   | -                           |   |   |   | - |   |   |   |   | 222 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   |   | 222 |   |   |   | - |   |   |   | (222 | ) | (f) |   |   | - |   |
| Total      - equity in earnings of subsidiaries and SAC Holding II                                          |   |                      | 15,648  |   |                    |   | -         |             |   |   | -                           |   |   |   | 4,086 |   |   |   |   | 19,734 |   |   |   | - |   |   |   | - |   |   |   | (19,512 | ) |   |   |   |   |   |   | 222 |   |   |   | - |   |   |   | (222 | ) |   |   |   | - |   |
| Earnings      from operations                                                                               |   |                      | 9,466   |   |                    |   | 116,719   |             |   |   | 62,699                      |   |   |   | 4,086 |   |   |   |   | 192,970 |   |   |   | 9,244 |   |   |   | 17,202 |   |   |   | (19,675 | ) |   |   |   |   |   |   | 199,741 |   |   |   | 7,926 |   |   |   | (3,945 | ) |   |   |   | 203,722 |   |
| Interest      income (expense)                                                                              |   |                      | 88,613  |   |                    |   | (136,041  | )                |   |   | (50,668                     | )      |   |   | - |   |   |   |   | (98,096 | ) |   |   | - |   |   |   | - |   |   |   | 163 |   |   | (d) |   |   |   | (97,933 | ) |   |   | (7,537 | ) |   |   | 4,050 |   | (d) |   |   | (101,420 | ) |
| Pretax      earnings (loss)                                                                                 |   |                      | 98,079  |   |                    |   | (19,322   | )                |   |   | 12,031                      |   |   |   | 4,086 |   |   |   |   | 94,874 |   |   |   | 9,244 |   |   |   | 17,202 |   |   |   | (19,512 | ) |   |   |   |   |   |   | 101,808 |   |   |   | 389 |   |   |   | 105 |   |   |   |   | 102,302 |   |
| Income      tax benefit (expense)                                                                           |   |                      | (30,498 | )      |                    |   | 9,166     |             |   |   | (5,961                      | )      |   |   | - |   |   |   |   | (27,293 | ) |   |   | (3,335 | ) |   |   | (3,599 | ) |   |   | - |   |   |   |   |   |   |   | (34,227 | ) |   |   | (167 | ) |   |   | (124 | ) | (e) |   |   | (34,518 | ) |
| Net      earnings (loss)                                                                                    |   |                      | 67,581  |   |                    |   | (10,156   | )                |   |   | 6,070                       |   |   |   | 4,086 |   |   |   |   | 67,581 |   |   |   | 5,909 |   |   |   | 13,603 |   |   |   | (19,512 | ) |   |   |   |   |   |   | 67,581 |   |   |   | 222 |   |   |   | (19 | ) |   |   |   | 67,784 |   |
| Less:  Preferred      stock dividends                                                             |   |                      | (12,963 | )      |                    |   | -         |             |   |   | -                           |   |   |   | - |   |   |   |   | (12,963 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   |   | (12,963 | ) |   |   | - |   |   |   | - |   |   |   |   | (12,963 | ) |
| Earnings      (loss) available to common shareholders                                                       |   | $                         | 54,618  |   |                    | $      | (10,156   | )                |   | $      | 6,070                       |   |   | $ | 4,086 |   |   |   | $ | 54,618 |   |   | $ | 5,909 |   |   | $ | 13,603 |   |   | $ | (19,512 | ) |   |   |   |   |   | $ | 54,618 |   |   | $ | 222 |   |   | $ | (19 | ) |   |   | $ | 54,821 |   |
| (a) Balances      for the year ended December 31, 2007                                                 |   |                      |    |   |                    |   |      |             |   |   |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (b)      Eliminate intercompany lease income and commission income                                          |   |                      |    |   |                    |   |      |             |   |   |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (c )      Eliminate intercompany expenses                                                                   |   |                      |    |   |                    |   |      |             |   |   |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (d)      Eliminate intercompany interest on debt                                                            |   |                      |    |   |                    |   |      |             |   |   |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (e)      Eliminate gain on sale of surplus property from U-Haul to SAC Holding      II                      |   |                      |    |   |                    |   |      |             |   |   |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (f)      Eliminate equity in earnings of subsidiaries and equity in earnings of SAC      Holding II         |   |                      |    |   |                    |   |      |             |   |   |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (g)      Eliminate management fees charged to SAC Holding II and other intercompany      operating expenses |   |                      |    |   |                    |   |      |             |   |   |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (h)      Activity for the seven months ended October 2007, prior to      deconsolidation                    |   |                      |    |   |                    |   |      |             |   |   |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

|                                                                                                        |   | Moving      & Storage |    |   | AMERCO      Legal Group |   |      |             |   |   | AMERCO      as Consolidated |   |
|-------------------------------------------------------------------------------------------------------------|--------|---------------------------|---------|--------|-------------------------|--------|-----------|------------------|--------|--------|-----------------------------|--------|
|                                                                                                        |   | AMERCO                    |    |   | U-Haul                  |   |      | Real      Estate |   |   | Eliminations                |   |   |   | Moving      & StorageConsolidated |   |   | Property      & Casualty Insurance (a) |   |   | LifeInsurance      (a) |   |   | Eliminations |   |   |   |   |   | AMERCOConsolidated |   |   | SAC      Holding II |   |   | Eliminations |   |   |   | Total      Consolidated |   |
|                                                                                                        |   |                      |    |
|                                                                                                        |   | (In      thousands)       |    |
| Revenues:                                                                                                   |   |                      |    |   |                    |   |      |             |   |   |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Self-moving      equipment rentals                                                                          |   | $                         | -       |   |                    | $      | 1,462,470 |             |   | $      | -                           |   |   | $ | - |   |   |   | $ | 1,462,470 |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   |   |   |   | $ | 1,462,470 |   |   | $ | 9,225 |   |   | $ | (9,225 | ) | (b) |   | $ | 1,462,470 |   |
| Self-storage      revenues                                                                                  |   |                      | -       |   |                    |   | 104,725   |             |   |   | 1,773                       |   |   |   | - |   |   |   |   | 106,498 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   | 106,498 |   |   |   | 19,926 |   |   |   | - |   |   |   |   | 126,424 |   |
| Self-moving      & self-storage products & service sales                                            |   |                      | -       |   |                    |   | 208,677   |             |   |   | -                           |   |   |   | - |   |   |   |   | 208,677 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   | 208,677 |   |   |   | 16,045 |   |   |   | - |   |   |   |   | 224,722 |   |
| Property      management fees                                                                               |   |                      | -       |   |                    |   | 23,951    |             |   |   | -                           |   |   |   | - |   |   |   |   | 23,951 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   | 23,951 |   |   |   | - |   |   |   | (2,797 | ) | (g) |   |   | 21,154 |   |
| Life      insurance premiums                                                                                |   |                      | -       |   |                    |   | -         |             |   |   | -                           |   |   |   | - |   |   |   |   | - |   |   |   | - |   |   |   | 121,590 |   |   |   | (1,191 | ) |   | (c) |   |   |   | 120,399 |   |   |   | - |   |   |   | - |   |   |   |   | 120,399 |   |
| Property      and casualty insurance premiums                                                               |   |                      | -       |   |                    |   | -         |             |   |   | -                           |   |   |   | - |   |   |   |   | - |   |   |   | 24,335 |   |   |   | - |   |   |   | - |   |   |   |   |   |   | 24,335 |   |   |   | - |   |   |   | - |   |   |   |   | 24,335 |   |
| Net      investment and interest income                                                                     |   |                      | 4,867   |   |                    |   | 29,294    |             |   |   | -                           |   |   |   | - |   |   |   |   | 34,161 |   |   |   | 14,151 |   |   |   | 22,490 |   |   |   | (4,071 | ) |   |   | (b,d | ) |   |   | 66,731 |   |   |   | - |   |   |   | (7,035 | ) | (d) |   |   | 59,696 |   |
| Other      revenue                                                                                          |   |                      | 204     |   |                    |   | 31,403    |             |   |   | 67,436                      |   |   |   | (73,049 | ) | (b) |   |   | 25,994 |   |   |   | - |   |   |   | 4,740 |   |   |   | (1,333 | ) |   | (b) |   |   |   | 29,401 |   |   |   | 1,407 |   |   |   | (710 | ) | (b) |   |   | 30,098 |   |
| Total      revenues                                                                                         |   |                      | 5,071   |   |                    |   | 1,860,520 |             |   |   | 69,209                      |   |   |   | (73,049 | ) |   |   |   | 1,861,751 |   |   |   | 38,486 |   |   |   | 148,820 |   |   |   | (6,595 | ) |   |   |   |   |   |   | 2,042,462 |   |   |   | 46,603 |   |   |   | (19,767 | ) |   |   |   | 2,069,298 |   |
|                                                                                                        |   |                      |    |   |                    |   |      |             |   |   |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Costs      and expenses:                                                                                    |   |                      |    |   |                    |   |      |             |   |   |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Operating      expenses                                                                                     |   |                      | 12,096  |   |                    |   | 1,085,619 |             |   |   | 8,843                       |   |   |   | (73,049 | ) | (b) |   |   | 1,033,509 |   |   |   | 8,787 |   |   |   | 30,871 |   |   |   | (12,531 | ) |   |   | (b,c,d | ) |   |   | 1,060,636 |   |   |   | 22,573 |   |   |   | (2,797 | ) | (g) |   |   | 1,080,412 |   |
| Commission      expenses                                                                                    |   |                      | -       |   |                    |   | 172,124   |             |   |   | -                           |   |   |   | - |   |   |   |   | 172,124 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   |   | 172,124 |   |   |   | - |   |   |   | (9,225 | ) | (b) |   |   | 162,899 |   |
| Cost      of sales                                                                                          |   |                      | -       |   |                    |   | 110,163   |             |   |   | -                           |   |   |   | - |   |   |   |   | 110,163 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   |   | 110,163 |   |   |   | 7,485 |   |   |   | - |   |   |   |   | 117,648 |   |
| Benefits      and losses                                                                                    |   |                      | -       |   |                    |   | -         |             |   |   | -                           |   |   |   | - |   |   |   |   | - |   |   |   | 21,901 |   |   |   | 88,347 |   |   |   | 8,477 |   |   | (c) |   |   |   | 118,725 |   |   |   | - |   |   |   | - |   |   |   |   | 118,725 |   |
| Amortization      of deferred policy acquisition costs                                                      |   |                      | -       |   |                    |   | -         |             |   |   | -                           |   |   |   | - |   |   |   |   | - |   |   |   | 2,057 |   |   |   | 15,081 |   |   |   | - |   |   |   |   |   |   |   | 17,138 |   |   |   | - |   |   |   | - |   |   |   |   | 17,138 |   |
| Lease      expense                                                                                          |   |                      | 88      |   |                    |   | 149,649   |             |   |   | 853                         |   |   |   | - |   |   |   |   | 150,590 |   |   |   | - |   |   |   | - |   |   |   | (2,221 | ) |   | (b) |   |   |   | 148,369 |   |   |   | - |   |   |   | (710 | ) | (b) |   |   | 147,659 |   |
| Depreciation,      net of (gains) losses on disposals                                                       |   |                      | 293     |   |                    |   | 180,560   |             |   |   | 6,605                       |   |   |   | - |   |   |   |   | 187,458 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   |   | 187,458 |   |   |   | 2,691 |   |   |   | (560 | ) | (e) |   |   | 189,589 |   |
| Total      costs and expenses                                                                               |   |                      | 12,477  |   |                    |   | 1,698,115 |             |   |   | 16,301                      |   |   |   | (73,049 | ) |   |   |   | 1,653,844 |   |   |   | 32,745 |   |   |   | 134,299 |   |   |   | (6,275 | ) |   |   |   |   |   |   | 1,814,613 |   |   |   | 32,749 |   |   |   | (13,292 | ) |   |   |   | 1,834,070 |   |
| Equity      in earnings of subsidiaries                                                                     |   |                      | 35,269  |   |                    |   | -         |             |   |   | -                           |   |   |   | (25,766 | ) | (f) |   |   | 9,503 |   |   |   | - |   |   |   | - |   |   |   | (9,503 | ) |   | (f) |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | - |   |
| Equity      in earnings of SAC Holding II                                                                   |   |                      | 527     |   |                    |   | -         |             |   |   | -                           |   |   |   | - |   |   |   |   | 527 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   |   | 527 |   |   |   | - |   |   |   | (527 | ) | (f) |   |   | - |   |
| Total      - equity in earnings of subsidiaries and SAC Holding II                                          |   |                      | 35,796  |   |                    |   | -         |             |   |   | -                           |   |   |   | (25,766 | ) |   |   |   | 10,030 |   |   |   | - |   |   |   | - |   |   |   | (9,503 | ) |   |   |   |   |   |   | 527 |   |   |   | - |   |   |   | (527 | ) |   |   |   | - |   |
| Earnings      from operations                                                                               |   |                      | 28,390  |   |                    |   | 162,405   |             |   |   | 52,908                      |   |   |   | (25,766 | ) |   |   |   | 217,937 |   |   |   | 5,741 |   |   |   | 14,521 |   |   |   | (9,823 | ) |   |   |   |   |   |   | 228,376 |   |   |   | 13,854 |   |   |   | (7,002 | ) |   |   |   | 235,228 |   |
| Interest      income (expense)                                                                              |   |                      | 89,026  |   |                    |   | (114,051  | )                |   |   | (51,704                     | )      |   |   | - |   |   |   |   | (76,729 | ) |   |   | - |   |   |   | - |   |   |   | 320 |   |   | (d) |   |   |   | (76,409 | ) |   |   | (13,062 | ) |   |   | 7,035 |   | (d) |   |   | (82,436 | ) |
| Fees      and amortization on early extinguishment of debt                                                  |   |                      | -       |   |                    |   | (302      | )                |   |   | (6,667                      | )      |   |   | - |   |   |   |   | (6,969 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   |   | (6,969 | ) |   |   | - |   |   |   | - |   |   |   |   | (6,969 | ) |
| Pretax      earnings (loss)                                                                                 |   |                      | 117,416 |   |                    |   | 48,052    |             |   |   | (5,463                      | )      |   |   | (25,766 | ) |   |   |   | 134,239 |   |   |   | 5,741 |   |   |   | 14,521 |   |   |   | (9,503 | ) |   |   |   |   |   |   | 144,998 |   |   |   | 792 |   |   |   | 33 |   |   |   |   | 145,823 |   |
| Income      tax benefit (expense)                                                                           |   |                      | (27,211 | )      |                    |   | (17,948   | )                |   |   | 1,125                       |   |   |   | - |   |   |   |   | (44,034 | ) |   |   | (5,896 | ) |   |   | (4,863 | ) |   |   | - |   |   |   |   |   |   |   | (54,793 | ) |   |   | (265 | ) |   |   | (212 | ) | (e) |   |   | (55,270 | ) |
| Net      earnings (loss)                                                                                    |   |                      | 90,205  |   |                    |   | 30,104    |             |   |   | (4,338                      | )      |   |   | (25,766 | ) |   |   |   | 90,205 |   |   |   | (155 | ) |   |   | 9,658 |   |   |   | (9,503 | ) |   |   |   |   |   |   | 90,205 |   |   |   | 527 |   |   |   | (179 | ) |   |   |   | 90,553 |   |
| Less:  Preferred      stock dividends                                                             |   |                      | (12,963 | )      |                    |   | -         |             |   |   | -                           |   |   |   | - |   |   |   |   | (12,963 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   |   | (12,963 | ) |   |   | - |   |   |   | - |   |   |   |   | (12,963 | ) |
| Earnings      (loss) available to common shareholders                                                       |   | $                         | 77,242  |   |                    | $      | 30,104    |             |   | $      | (4,338                      | )      |   | $ | (25,766 | ) |   |   | $ | 77,242 |   |   | $ | (155 | ) |   | $ | 9,658 |   |   | $ | (9,503 | ) |   |   |   |   |   | $ | 77,242 |   |   | $ | 527 |   |   | $ | (179 | ) |   |   | $ | 77,590 |   |
| (a)  Balances      for the year ended December 31, 2006                                           |   |                      |    |   |                    |   |      |             |   |   |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (b)      Eliminate intercompany lease income and commission income                                          |   |                      |    |   |                    |   |      |             |   |   |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (c )      Eliminate intercompany premiums and expenses                                                      |   |                      |    |   |                    |   |      |             |   |   |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (d)      Eliminate intercompany interest on debt                                                            |   |                      |    |   |                    |   |      |             |   |   |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (e)      Eliminate gain on sale of surplus property from U-Haul to SAC Holding      II                      |   |                      |    |   |                    |   |      |             |   |   |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (f)      Eliminate equity in earnings of subsidiaries and equity in earnings of SAC      Holding II         |   |                      |    |   |                    |   |      |             |   |   |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (g)      Eliminate management fees charged to SAC Holding II and other intercompany      operating expenses |   |                      |    |   |                    |   |      |             |   |   |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

|                                                                                                        |   | Moving      & Storage |    |   | AMERCO      Legal Group |   |      |             |   |   | AMERCO      as Consolidated |   |
|-------------------------------------------------------------------------------------------------------------|--------|---------------------------|---------|--------|-------------------------|--------|-----------|------------------|--------|--------|-----------------------------|--------|
|                                                                                                        |   | AMERCO                    |    |   | U-Haul                  |   |      | Real      Estate |   |   | Eliminations                |   |   |   | Moving      & StorageConsolidated |   |   | Property      & Casualty Insurance (a) |   |   | LifeInsurance      (a) |   |   | Eliminations |   |   |   |   |   | AMERCOConsolidated |   |   | SAC      Holding II |   |   | Eliminations |   |   |   | Total      Consolidated |   |
|                                                                                                        |   |                      |    |
|                                                                                                        |   | (In      thousands)       |    |
| Revenues:                                                                                                   |   |                      |    |   |                    |   |      |             |   |   |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Self-moving      equipment rentals                                                                          |   | $                         | -       |   |                    | $      | 1,489,429 |             |   | $      | -                           |   |   | $ | - |   |   |   | $ | 1,489,429 |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |   |   |   |   | $ | 1,489,429 |   |   | $ | 9,498 |   |   | $ | (9,498 | ) | (b) |   | $ | 1,489,429 |   |
| Self-storage      revenues                                                                                  |   |                      | -       |   |                    |   | 99,060    |             |   |   | 1,813                       |   |   |   | - |   |   |   |   | 100,873 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   | 100,873 |   |   |   | 18,869 |   |   |   | - |   |   |   |   | 119,742 |   |
| Self-moving      & self-storage products & service sales                                            |   |                      | -       |   |                    |   | 207,119   |             |   |   | -                           |   |   |   | - |   |   |   |   | 207,119 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   | 207,119 |   |   |   | 16,602 |   |   |   | - |   |   |   |   | 223,721 |   |
| Property      management fees                                                                               |   |                      | -       |   |                    |   | 23,988    |             |   |   | -                           |   |   |   | - |   |   |   |   | 23,988 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   | 23,988 |   |   |   | - |   |   |   | (2,793 | ) | (g) |   |   | 21,195 |   |
| Life      insurance premiums                                                                                |   |                      | -       |   |                    |   | -         |             |   |   | -                           |   |   |   | - |   |   |   |   | - |   |   |   | - |   |   |   | 120,352 |   |   |   | (1,519 | ) |   | (c) |   |   |   | 118,833 |   |   |   | - |   |   |   | - |   |   |   |   | 118,833 |   |
| Property      and casualty insurance premiums                                                               |   |                      | -       |   |                    |   | -         |             |   |   | -                           |   |   |   | - |   |   |   |   | - |   |   |   | 26,001 |   |   |   | - |   |   |   | - |   |   |   |   |   |   | 26,001 |   |   |   | - |   |   |   | - |   |   |   |   | 26,001 |   |
| Net      investment and interest income                                                                     |   |                      | 5,108   |   |                    |   | 24,894    |             |   |   | 23                          |   |   |   | - |   |   |   |   | 30,025 |   |   |   | 11,357 |   |   |   | 21,964 |   |   |   | (8,358 | ) |   |   | (b,d | ) |   |   | 54,988 |   |   |   | - |   |   |   | (6,709 | ) | (d) |   |   | 48,279 |   |
| Other      revenue                                                                                          |   |                      | 459     |   |                    |   | 39,303    |             |   |   | 61,910                      |   |   |   | (66,778 | ) | (b) |   |   | 34,894 |   |   |   | - |   |   |   | 5,764 |   |   |   | (893 | ) |   | (b) |   |   |   | 39,765 |   |   |   | 1,270 |   |   |   | (710 | ) | (b) |   |   | 40,325 |   |
| Total      revenues                                                                                         |   |                      | 5,567   |   |                    |   | 1,883,793 |             |   |   | 63,746                      |   |   |   | (66,778 | ) |   |   |   | 1,886,328 |   |   |   | 37,358 |   |   |   | 148,080 |   |   |   | (10,770 | ) |   |   |   |   |   |   | 2,060,996 |   |   |   | 46,239 |   |   |   | (19,710 | ) |   |   |   | 2,087,525 |   |
| Costs      and expenses:                                                                                    |   |                      |    |   |                    |   |      |             |   |   |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Operating      expenses                                                                                     |   |                      | 12,722  |   |                    |   | 1,085,602 |             |   |   | 6,197                       |   |   |   | (66,778 | ) | (b) |   |   | 1,037,743 |   |   |   | 10,769 |   |   |   | 27,009 |   |   |   | (13,479 | ) |   |   | (b,      c, d | ) |   |   | 1,062,042 |   |   |   | 22,909 |   |   |   | (2,793 | ) | (g) |   |   | 1,082,158 |   |
| Commission      expenses                                                                                    |   |                      | -       |   |                    |   | 175,459   |             |   |   | -                           |   |   |   | - |   |   |   |   | 175,459 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   |   | 175,459 |   |   |   | - |   |   |   | (9,498 | ) | (b) |   |   | 165,961 |   |
| Cost      of sales                                                                                          |   |                      | -       |   |                    |   | 105,872   |             |   |   | -                           |   |   |   | - |   |   |   |   | 105,872 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   |   | 105,872 |   |   |   | 7,263 |   |   |   | - |   |   |   |   | 113,135 |   |
| Benefits      and losses                                                                                    |   |                      | -       |   |                    |   | -         |             |   |   | -                           |   |   |   | - |   |   |   |   | - |   |   |   | 22,590 |   |   |   | 85,732 |   |   |   | 8,838 |   |   | (c) |   |   |   | 117,160 |   |   |   | - |   |   |   | - |   |   |   |   | 117,160 |   |
| Amortization      of deferred policy acquisition costs                                                      |   |                      | -       |   |                    |   | -         |             |   |   | -                           |   |   |   | - |   |   |   |   | - |   |   |   | 2,855 |   |   |   | 21,406 |   |   |   | - |   |   |   |   |   |   |   | 24,261 |   |   |   | - |   |   |   | - |   |   |   |   | 24,261 |   |
| Lease      expense                                                                                          |   |                      | 81      |   |                    |   | 143,344   |             |   |   | 66                          |   |   |   | - |   |   |   |   | 143,491 |   |   |   | - |   |   |   | - |   |   |   | (6,129 | ) |   | (b) |   |   |   | 137,362 |   |   |   | - |   |   |   | (710 | ) | (b) |   |   | 136,652 |   |
| Depreciation,      net of (gains) losses on disposals                                                       |   |                      | 79      |   |                    |   | 131,803   |             |   |   | 9,071                       |   |   |   | - |   |   |   |   | 140,953 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   |   | 140,953 |   |   |   | 2,424 |   |   |   | (560 | ) | (e) |   |   | 142,817 |   |
| Total      costs and expenses                                                                               |   |                      | 12,882  |   |                    |   | 1,642,080 |             |   |   | 15,334                      |   |   |   | (66,778 | ) |   |   |   | 1,603,518 |   |   |   | 36,214 |   |   |   | 134,147 |   |   |   | (10,770 | ) |   |   |   |   |   |   | 1,763,109 |   |   |   | 32,596 |   |   |   | (13,561 | ) |   |   |   | 1,782,144 |   |
| Equity      in earnings of subsidiaries                                                                     |   |                      | 163,004 |   |                    |   | -         |             |   |   | -                           |   |   |   | (153,424 | ) | (f) |   |   | 9,580 |   |   |   | - |   |   |   | - |   |   |   | (9,580 | ) |   | (f) |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   | - |   |
| Equity      in earnings of SAC Holding II                                                                   |   |                      | 384     |   |                    |   | -         |             |   |   | -                           |   |   |   | - |   |   |   |   | 384 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   |   | 384 |   |   |   | - |   |   |   | (384 | ) | (f) |   |   | - |   |
| Total      - equity in earnings of subsidiaries and SAC Holding II                                          |   |                      | 163,388 |   |                    |   | -         |             |   |   | -                           |   |   |   | (153,424 | ) |   |   |   | 9,964 |   |   |   | - |   |   |   | - |   |   |   | (9,580 | ) |   |   |   |   |   |   | 384 |   |   |   | - |   |   |   | (384 | ) |   |   |   | - |   |
| Earnings      from operations                                                                               |   |                      | 156,073 |   |                    |   | 241,713   |             |   |   | 48,412                      |   |   |   | (153,424 | ) |   |   |   | 292,774 |   |   |   | 1,144 |   |   |   | 13,933 |   |   |   | (9,580 | ) |   |   |   |   |   |   | 298,271 |   |   |   | 13,643 |   |   |   | (6,533 | ) |   |   |   | 305,381 |   |
| Interest      expense                                                                                       |   |                      | (24,636 | )      |                    |   | (14,383   | )                |   |   | (24,331                     | )      |   |   | - |   |   |   |   | (63,350 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   |   | (63,350 | ) |   |   | (12,840 | ) |   |   | 6,709 |   | (d) |   |   | (69,481 | ) |
| Fees      and amortization on early extinguishment of debt                                                  |   |                      | (35,627 | )      |                    |   | -         |             |   |   | -                           |   |   |   | - |   |   |   |   | (35,627 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   |   | (35,627 | ) |   |   | - |   |   |   | - |   |   |   |   | (35,627 | ) |
| Pretax      earnings                                                                                        |   |                      | 95,810  |   |                    |   | 227,330   |             |   |   | 24,081                      |   |   |   | (153,424 | ) |   |   |   | 193,797 |   |   |   | 1,144 |   |   |   | 13,933 |   |   |   | (9,580 | ) |   |   |   |   |   |   | 199,294 |   |   |   | 803 |   |   |   | 176 |   |   |   |   | 200,273 |   |
| Income      tax benefit (expense)                                                                           |   |                      | 24,996  |   |                    |   | (87,910   | )                |   |   | (10,077                     | )      |   |   | - |   |   |   |   | (72,991 | ) |   |   | (513 | ) |   |   | (4,984 | ) |   |   | - |   |   |   |   |   |   |   | (78,488 | ) |   |   | (419 | ) |   |   | (212 | ) | (e) |   |   | (79,119 | ) |
| Net      earnings                                                                                           |   |                      | 120,806 |   |                    |   | 139,420   |             |   |   | 14,004                      |   |   |   | (153,424 | ) |   |   |   | 120,806 |   |   |   | 631 |   |   |   | 8,949 |   |   |   | (9,580 | ) |   |   |   |   |   |   | 120,806 |   |   |   | 384 |   |   |   | (36 | ) |   |   |   | 121,154 |   |
| Less:  Preferred      stock dividends                                                             |   |                      | (12,963 | )      |                    |   | -         |             |   |   | -                           |   |   |   | - |   |   |   |   | (12,963 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   |   |   |   |   | (12,963 | ) |   |   | - |   |   |   | - |   |   |   |   | (12,963 | ) |
| Earnings      available to common shareholders                                                              |   | $                         | 107,843 |   |                    | $      | 139,420   |             |   | $      | 14,004                      |   |   | $ | (153,424 | ) |   |   | $ | 107,843 |   |   | $ | 631 |   |   | $ | 8,949 |   |   | $ | (9,580 | ) |   |   |   |   |   | $ | 107,843 |   |   | $ | 384 |   |   | $ | (36 | ) |   |   | $ | 108,191 |   |
| (a)  Balances      for the year ended December 31, 2005                                           |   |                      |    |   |                    |   |      |             |   |   |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (b)      Eliminate intercompany lease income and commission income                                          |   |                      |    |   |                    |   |      |             |   |   |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (c )      Eliminate intercompany premiums and expenses                                                      |   |                      |    |   |                    |   |      |             |   |   |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (d)      Eliminate intercompany interest on debt                                                            |   |                      |    |   |                    |   |      |             |   |   |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (e)      Eliminate gain on sale of surplus property from U-Haul to SAC Holding      II                      |   |                      |    |   |                    |   |      |             |   |   |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (f)      Eliminate equity in earnings of subsidiaries and equity in earnings of SAC      Holding II         |   |                      |    |   |                    |   |      |             |   |   |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (g)      Eliminate management fees charged to SAC Holding II and other intercompany      operating expenses |   |                      |    |   |                    |   |      |             |   |   |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

|                                                                                          |   | Moving      & Storage |    |   | AMERCO      Legal Group |   |     | AMERCO      as Consolidated |   |
|-----------------------------------------------------------------------------------------------|--------|---------------------------|---------|--------|-------------------------|--------|----------|-----------------------------|--------|
|                                                                                          |   | AMERCO                    |    |   | U-Haul                  |   |     | Real      Estate            |   |   | Elimination |   |   | Moving      & StorageConsolidated |   |   | Property      &CasualtyInsurance      (a) |   |   | LifeInsurance      (a) |   |   | Elimination |   |   | AMERCOConsolidated |   |   | SAC      Holding II (b) |   |   | Elimination |   |   | TotalConsolidated |   |
|                                                                                          |   |                      |    |
| Cash      flows from operating activities:                                                    |   | (In      thousands)       |    |
| Net      earnings (loss)                                                                      |   | $                         | 67,581  |   |                    | $      | (10,156  | )                           |   | $ | 6,070 |   |   | $ | 4,086 |   |   | $ | 67,581 |   |   | $ | 5,909 |   |   | $ | 13,603 |   |   | $ | (19,512 | ) |   | $ | 67,581 |   |   | $ | 222 |   |   | $ | (19 | ) |   | $ | 67,784 |   |
| Earnings      from consolidated entities                                                      |   |                      | (15,648 | )      |                    |   | -        |                        |   |   | - |   |   |   | (4,086 | ) |   |   | (19,734 | ) |   |   | - |   |   |   | - |   |   |   | 19,512 |   |   |   | (222 | ) |   |   | - |   |   |   | 222 |   |   |   | - |   |
| Adjustments      to reconcile net earnings to cash provided by operations:                    |   |                      |    |   |                    |   |     |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Depreciation                                                                                  |   |                      | 515     |   |                    |   | 214,246  |                        |   |   | 11,730 |   |   |   | - |   |   |   | 226,491 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 226,491 |   |   |   | 1,634 |   |   |   | (327 | ) |   |   | 227,798 |   |
| Amortization      of deferred policy acquisition costs                                        |   |                      | -       |   |                    |   | -        |                        |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 190 |   |   |   | 12,991 |   |   |   | - |   |   |   | 13,181 |   |   |   | - |   |   |   | - |   |   |   | 13,181 |   |
| Change      in allowance for losses on trade receivables                                      |   |                      | -       |   |                    |   | 23       |                        |   |   | - |   |   |   | - |   |   |   | 23 |   |   |   | - |   |   |   | 53 |   |   |   | - |   |   |   | 76 |   |   |   | - |   |   |   | - |   |   |   | 76 |   |
| Change      in allowance for losses on mortgage notes                                         |   |                      | -       |   |                    |   | (39      | )                           |   |   | - |   |   |   | - |   |   |   | (39 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (39 | ) |   |   | - |   |   |   | - |   |   |   | (39 | ) |
| Provision      for inventory reserve                                                          |   |                      | -       |   |                    |   | 2,746    |                        |   |   | - |   |   |   | - |   |   |   | 2,746 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 2,746 |   |   |   | - |   |   |   | - |   |   |   | 2,746 |   |
| Net      (gain) loss on sale of real and personal property                                    |   |                      | -       |   |                    |   | 6,450    |                        |   |   | (12,206 | ) |   |   | - |   |   |   | (5,756 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (5,756 | ) |   |   | (160 | ) |   |   | - |   |   |   | (5,916 | ) |
| Net      loss on sale of investments                                                          |   |                      | -       |   |                    |   | -        |                        |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 51 |   |   |   | 241 |   |   |   | - |   |   |   | 292 |   |   |   | - |   |   |   | - |   |   |   | 292 |   |
| Write-off      of unamortized debt issuance costs                                             |   |                      | -       |   |                    |   | -        |                        |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Deferred      income taxes                                                                    |   |                      | (11,222 | )      |                    |   | 91       |                        |   |   | - |   |   |   | - |   |   |   | (11,131 | ) |   |   | 4,318 |   |   |   | (3,488 | ) |   |   | - |   |   |   | (10,301 | ) |   |   | 146 |   |   |   | 124 |   |   |   | (10,031 | ) |
| Net      change in other operating assets and liabilities:                                    |   |                      |    |   |                    |   |     |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Reinsurance      recoverables and trade receivables                                           |   |                      | -       |   |                    |   | (2,209   | )                           |   |   | - |   |   |   | - |   |   |   | (2,209 | ) |   |   | (15,133 | ) |   |   | 766 |   |   |   | - |   |   |   | (16,576 | ) |   |   | - |   |   |   | - |   |   |   | (16,576 | ) |
| Inventories                                                                                   |   |                      | -       |   |                    |   | (2,449   | )                           |   |   | - |   |   |   | - |   |   |   | (2,449 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (2,449 | ) |   |   | 4 |   |   |   | - |   |   |   | (2,445 | ) |
| Prepaid      expenses                                                                         |   |                      | 6,665   |   |                    |   | (10,847  | )                           |   |   | (203 | ) |   |   | - |   |   |   | (4,385 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (4,385 | ) |   |   | 47 |   |   |   | - |   |   |   | (4,338 | ) |
| Capitalization      of deferred policy acquisition costs                                      |   |                      | -       |   |                    |   | -        |                        |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (24 | ) |   |   | (7,455 | ) |   |   | - |   |   |   | (7,479 | ) |   |   | - |   |   |   | - |   |   |   | (7,479 | ) |
| Other      assets                                                                             |   |                      | 4       |   |                    |   | 3,602    |                        |   |   | 1,470 |   |   |   | - |   |   |   | 5,076 |   |   |   | (1,065 | ) |   |   | 290 |   |   |   | - |   |   |   | 4,301 |   |   |   | (1,008 | ) |   |   | - |   |   |   | 3,293 |   |
| Related      party assets                                                                     |   |                      | 6,007   |   |                    |   | 6,493    |                        |   |   | 12,645 |   |   |   | - |   |   |   | 25,145 |   |   |   | 2,842 |   |   |   | 5,040 |   |   |   | - |   |   |   | 33,027 |   |   |   | 5 |   |   |   | - |   |   |   | 33,032 |   |
| Accounts      payable and accrued expenses                                                    |   |                      | 7,571   |   |                    |   | 20,200   |                        |   |   | (4,316 | ) |   |   | - |   |   |   | 23,455 |   |   |   | - |   |   |   | (1,231 | ) |   |   | - |   |   |   | 22,224 |   |   |   | 680 |   |   |   | - |   |   |   | 22,904 |   |
| Policy      benefits and losses, claims and loss expenses payable                             |   |                      | -       |   |                    |   | 29,747   |                        |   |   | - |   |   |   | - |   |   |   | 29,747 |   |   |   | 77 |   |   |   | (9,160 | ) |   |   | - |   |   |   | 20,664 |   |   |   | - |   |   |   | - |   |   |   | 20,664 |   |
| Other      policyholders' funds and liabilities                                               |   |                      | -       |   |                    |   | -        |                        |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (779 | ) |   |   | 683 |   |   |   | - |   |   |   | (96 | ) |   |   | - |   |   |   | - |   |   |   | (96 | ) |
| Deferred      income                                                                          |   |                      | -       |   |                    |   | (3,948   | )                           |   |   | - |   |   |   | - |   |   |   | (3,948 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (3,948 | ) |   |   | (48 | ) |   |   | - |   |   |   | (3,996 | ) |
| Related      party liabilities                                                                |   |                      | -       |   |                    |   | (6,220   | )                           |   |   | - |   |   |   | - |   |   |   | (6,220 | ) |   |   | (363 | ) |   |   | (5,271 | ) |   |   | - |   |   |   | (11,854 | ) |   |   | 287 |   |   |   | - |   |   |   | (11,567 | ) |
| Net      cash provided (used) by operating activities                                         |   |                      | 61,473  |   |                    |   | 247,730  |                        |   |   | 15,190 |   |   |   | - |   |   |   | 324,393 |   |   |   | (3,977 | ) |   |   | 7,062 |   |   |   | - |   |   |   | 327,478 |   |   |   | 1,809 |   |   |   | - |   |   |   | 329,287 |   |
| Cash      flows from investing activities:                                                    |   |                      |    |   |                    |   |     |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Purchases      of:                                                                            |   |                      |    |   |                    |   |     |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Property,      plant and equipment                                                            |   |                      | (1,841  | )      |                    |   | (507,883 | )                           |   |   | (59,105 | ) |   |   | - |   |   |   | (568,829 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (568,829 | ) |   |   | (1,381 | ) |   |   | - |   |   |   | (570,210 | ) |
| Short      term investments                                                                   |   |                      | -       |   |                    |   | -        |                        |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (82,179 | ) |   |   | (163,166 | ) |   |   | - |   |   |   | (245,345 | ) |   |   | - |   |   |   | - |   |   |   | (245,345 | ) |
| Fixed      maturities investments                                                             |   |                      | -       |   |                    |   | -        |                        |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (29,692 | ) |   |   | (53,959 | ) |   |   | - |   |   |   | (83,651 | ) |   |   | - |   |   |   | - |   |   |   | (83,651 | ) |
| Equity      securities                                                                        |   |                      | -       |   |                    |   | -        |                        |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (31 | ) |   |   | - |   |   |   | (31 | ) |   |   | - |   |   |   | - |   |   |   | (31 | ) |
| Preferred      stock                                                                          |   |                      | -       |   |                    |   | -        |                        |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (770 | ) |   |   | - |   |   |   | (770 | ) |   |   | - |   |   |   | - |   |   |   | (770 | ) |
| Real      estate                                                                              |   |                      | -       |   |                    |   | -        |                        |   |   | (2,801 | ) |   |   | - |   |   |   | (2,801 | ) |   |   | (297 | ) |   |   | - |   |   |   | - |   |   |   | (3,098 | ) |   |   | - |   |   |   | - |   |   |   | (3,098 | ) |
| Mortgage      loans                                                                           |   |                      | -       |   |                    |   | -        |                        |   |   | (497 | ) |   |   | - |   |   |   | (497 | ) |   |   | (1,650 | ) |   |   | (11,910 | ) |   |   | - |   |   |   | (14,057 | ) |   |   | - |   |   |   | - |   |   |   | (14,057 | ) |
| Proceeds      from sales of:                                                                  |   |                      |    |   |                    |   |     |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Property,      plant and equipment                                                            |   |                      | -       |   |                    |   | 143,537  |                        |   |   | 22,458 |   |   |   | - |   |   |   | 165,995 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 165,995 |   |   |   | 391 |   |   |   | - |   |   |   | 166,386 |   |
| Short      term investments                                                                   |   |                      | -       |   |                    |   | -        |                        |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 77,417 |   |   |   | 168,758 |   |   |   | - |   |   |   | 246,175 |   |   |   | - |   |   |   | - |   |   |   | 246,175 |   |
| Fixed      maturities investments                                                             |   |                      | -       |   |                    |   | -        |                        |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 37,359 |   |   |   | 94,434 |   |   |   | - |   |   |   | 131,793 |   |   |   | - |   |   |   | - |   |   |   | 131,793 |   |
| Equity      securities                                                                        |   |                      | -       |   |                    |   | -        |                        |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 46 |   |   |   | - |   |   |   | 46 |   |   |   | - |   |   |   | - |   |   |   | 46 |   |
| Preferred      stock                                                                          |   |                      | -       |   |                    |   | -        |                        |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 5,000 |   |   |   | 625 |   |   |   | - |   |   |   | 5,625 |   |   |   | - |   |   |   | - |   |   |   | 5,625 |   |
| Real      estate                                                                              |   |                      | -       |   |                    |   | 281      |                        |   |   | - |   |   |   | - |   |   |   | 281 |   |   |   | 631 |   |   |   | - |   |   |   | - |   |   |   | 912 |   |   |   | - |   |   |   | - |   |   |   | 912 |   |
| Mortgage      loans                                                                           |   |                      | -       |   |                    |   | -        |                        |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 8 |   |   |   | 8,138 |   |   |   | - |   |   |   | 8,146 |   |   |   | - |   |   |   | - |   |   |   | 8,146 |   |
| Payments      from notes and mortgage receivables                                             |   |                      | -       |   |                    |   | 117      |                        |   |   | - |   |   |   | - |   |   |   | 117 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 117 |   |   |   | - |   |   |   | - |   |   |   | 117 |   |
| Net      cash provided (used) by investing activities                                         |   |                      | (1,841  | )      |                    |   | (363,948 | )                           |   |   | (39,945 | ) |   |   | - |   |   |   | (405,734 | ) |   |   | 6,597 |   |   |   | 42,165 |   |   |   | - |   |   |   | (356,972 | ) |   |   | (990 | ) |   |   | - |   |   |   | (357,962 | ) |
|                                                                                          |   | (page      1 of 2)        |    |
| (a)      Balance for the period ended December 31, 2007                                       |   |                      |    |   |                    |   |     |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (b)      Activity for the seven months ending October 31, 2007, prior to      deconsolidation |   |                      |    |   |                    |   |     |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

|                                                                                          |   | Moving      & Storage |    |   | AMERCO      Legal Group |   |     | AMERCO      as Consolidated |   |
|-----------------------------------------------------------------------------------------------|--------|---------------------------|---------|--------|-------------------------|--------|----------|-----------------------------|--------|
|                                                                                          |   | AMERCO                    |    |   | U-Haul                  |   |     | Real      Estate            |   |   | Elimination |   |   | Moving      & StorageConsolidated |   |   | Property      &CasualtyInsurance      (a) |   |   | LifeInsurance      (a) |   |   | Elimination |   |   | AMERCOConsolidated |   |   | SAC      Holding II (b) |   |   | Elimination |   |   | TotalConsolidated |   |
|                                                                                          |   |                      |    |
| Cash      flows from financing activities:                                                    |   | (In      thousands)       |    |
| Borrowings      from credit facilities                                                        |   |                      | -       |   |                    |   | 415,308  |                        |   |   | 201,402 |   |   |   | - |   |   |   | 616,710 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 616,710 |   |   |   | - |   |   |   | - |   |   |   | 616,710 |   |
| Principal      repayments on credit facilities                                                |   |                      | -       |   |                    |   | (192,603 | )                           |   |   | (101,965 | ) |   |   | - |   |   |   | (294,568 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (294,568 | ) |   |   | (819 | ) |   |   | - |   |   |   | (295,387 | ) |
| Debt      issuance costs                                                                      |   |                      | -       |   |                    |   | (11,806  | )                           |   |   | (170 | ) |   |   | - |   |   |   | (11,976 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (11,976 | ) |   |   | - |   |   |   | - |   |   |   | (11,976 | ) |
| Leveraged      Employee Stock Ownership Plan - repayments from loan                           |   |                      | -       |   |                    |   | 1,239    |                        |   |   | - |   |   |   | - |   |   |   | 1,239 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 1,239 |   |   |   | - |   |   |   | - |   |   |   | 1,239 |   |
| Treasury      stock repurchases                                                               |   |                      | (57,478 | )      |                    |   | -        |                        |   |   | - |   |   |   | - |   |   |   | (57,478 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (57,478 | ) |   |   | - |   |   |   | - |   |   |   | (57,478 | ) |
| Securitization      deposits                                                                  |   |                      | -       |   |                    |   | (32,775  | )                           |   |   | - |   |   |   | - |   |   |   | (32,775 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (32,775 | ) |   |   | - |   |   |   | - |   |   |   | (32,775 | ) |
| Proceeds      from (repayment of) intercompany loans                                          |   |                      | 10,830  |   |                    |   | 64,489   |                        |   |   | (75,319 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Preferred      stock dividends paid                                                           |   |                      | (12,963 | )      |                    |   | -        |                        |   |   | - |   |   |   | - |   |   |   | (12,963 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (12,963 | ) |   |   | - |   |   |   | - |   |   |   | (12,963 | ) |
| Investment      contract deposits                                                             |   |                      | -       |   |                    |   | -        |                        |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 18,077 |   |   |   | - |   |   |   | 18,077 |   |   |   | - |   |   |   | - |   |   |   | 18,077 |   |
| Investment      contract withdrawals                                                          |   |                      | -       |   |                    |   | -        |                        |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (65,518 | ) |   |   | - |   |   |   | (65,518 | ) |   |   | - |   |   |   | - |   |   |   | (65,518 | ) |
| Net      cash provided (used) by financing activities                                         |   |                      | (59,611 | )      |                    |   | 243,852  |                        |   |   | 23,948 |   |   |   | - |   |   |   | 208,189 |   |   |   | - |   |   |   | (47,441 | ) |   |   | - |   |   |   | 160,748 |   |   |   | (819 | ) |   |   | - |   |   |   | 159,929 |   |
|                                                                                          |   |                      |    |   |                    |   |     |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Effects      of exchange rate on cash                                                         |   |                      | -       |   |                    |   | 96       |                        |   |   | - |   |   |   | - |   |   |   | 96 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 96 |   |   |   | - |   |   |   | - |   |   |   | 96 |   |
|                                                                                          |   |                      |    |   |                    |   |     |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Increase      (decrease) in cash and cash equivalents                                         |   |                      | 21      |   |                    |   | 127,730  |                        |   |   | (807 | ) |   |   | - |   |   |   | 126,944 |   |   |   | 2,620 |   |   |   | 1,786 |   |   |   | - |   |   |   | 131,350 |   |   |   | - |   |   |   | - |   |   |   | 131,350 |   |
| Cash      and cash equivalents at beginning of period                                         |   |                      | 9       |   |                    |   | 63,490   |                        |   |   | 807 |   |   |   | - |   |   |   | 64,306 |   |   |   | 4,228 |   |   |   | 6,738 |   |   |   | - |   |   |   | 75,272 |   |   |   | - |   |   |   | - |   |   |   | 75,272 |   |
| Cash      and cash equivalents at end of period                                               |   | $                         | 30      |   |                    | $      | 191,220  |                        |   | $ | - |   |   | $ | - |   |   | $ | 191,250 |   |   | $ | 6,848 |   |   | $ | 8,524 |   |   | $ | - |   |   | $ | 206,622 |   |   | $ | - |   |   | $ | - |   |   | $ | 206,622 |   |
|                                                                                          |   | (page      2 of 2)        |    |
| (a)      Balance for the period ended December 31, 2007                                       |   |                      |    |   |                    |   |     |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| (b)      Activity for the seven months ending October 31, 2007, prior to      deconsolidation |   |                      |    |   |                    |   |     |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

|                                                                       |   | Moving      & Storage |    |   | AMERCO      Legal Group |   |     |  AMERCO      as Consolidated |
|----------------------------------------------------------------------------|--------|---------------------------|---------|--------|-------------------------|--------|----------|-----------------------------------|
|                                                                       |   | AMERCO                    |    |   | U-Haul                  |   |     | Real      Estate                  |   |   | Elimination |   |   | Moving      & StorageConsolidated |   |   | Property      &CasualtyInsurance      (a) |   |   | LifeInsurance      (a) |   |   | Elimination |   |   | AMERCOConsolidated |   |   | SAC      Holding II |   |   | Elimination |   |   | TotalConsolidated |   |
|                                                                       |   |                      |    |
| Cash      flows from operating activities:                                 |   | (In      thousands)       |    |
| Net      earnings (loss)                                                   |   | $                         | 90,205  |   |                    | $      | 30,104   |                              |   | $ | (4,338 | ) |   | $ | (25,766 | ) |   | $ | 90,205 |   |   | $ | (155 | ) |   | $ | 9,658 |   |   | $ | (9,503 | ) |   | $ | 90,205 |   |   | $ | 527 |   |   | $ | (179 | ) |   | $ | 90,553 |   |
| Earnings      from consolidated entities                                   |   |                      | (35,796 | )      |                    |   | -        |                              |   |   | - |   |   |   | 25,766 |   |   |   | (10,030 | ) |   |   | - |   |   |   | - |   |   |   | 9,503 |   |   |   | (527 | ) |   |   | - |   |   |   | 527 |   |   |   | - |   |
| Adjustments      to reconcile net earnings to cash provided by operations: |   |                      |    |   |                    |   |     |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Depreciation                                                               |   |                      | 293     |   |                    |   | 172,698  |                              |   |   | 10,984 |   |   |   | - |   |   |   | 183,975 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 183,975 |   |   |   | 2,691 |   |   |   | (560 | ) |   |   | 186,106 |   |
| Amortization      of deferred policy acquisition costs                     |   |                      | -       |   |                    |   | -        |                              |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 2,057 |   |   |   | 15,081 |   |   |   | - |   |   |   | 17,138 |   |   |   | - |   |   |   | - |   |   |   | 17,138 |   |
| Changes      in allowance for losses on trade receivables                  |   |                      | -       |   |                    |   | (145     | )                                 |   |   | - |   |   |   | - |   |   |   | (145 | ) |   |   | - |   |   |   | 194 |   |   |   | - |   |   |   | 49 |   |   |   | - |   |   |   | - |   |   |   | 49 |   |
| Changes      in allowance for losses on mortgage notes                     |   |                      | -       |   |                    |   | (40      | )                                 |   |   | - |   |   |   | - |   |   |   | (40 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (40 | ) |   |   | - |   |   |   | - |   |   |   | (40 | ) |
| Provision      for inventory reserves                                      |   |                      | -       |   |                    |   | 2,679    |                              |   |   | - |   |   |   | - |   |   |   | 2,679 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 2,679 |   |   |   | - |   |   |   | - |   |   |   | 2,679 |   |
| Net      (gain) loss on sale of real and personal property                 |   |                      | -       |   |                    |   | 7,862    |                              |   |   | (4,379 | ) |   |   | - |   |   |   | 3,483 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 3,483 |   |   |   | - |   |   |   | - |   |   |   | 3,483 |   |
| Net      loss on sale of investments                                       |   |                      | -       |   |                    |   | -        |                              |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 559 |   |   |   | 63 |   |   |   | - |   |   |   | 622 |   |   |   | - |   |   |   | - |   |   |   | 622 |   |
| Write-off      of unamortized debt issuance costs                          |   |                      | -       |   |                    |   | 302      |                              |   |   | 6,667 |   |   |   | - |   |   |   | 6,969 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 6,969 |   |   |   | - |   |   |   | - |   |   |   | 6,969 |   |
| Deferred      income taxes                                                 |   |                      | 5,239   |   |                    |   | (19      | )                                 |   |   | - |   |   |   | - |   |   |   | 5,220 |   |   |   | 5,292 |   |   |   | (4,456 | ) |   |   | - |   |   |   | 6,056 |   |   |   | 704 |   |   |   | 212 |   |   |   | 6,972 |   |
| Net      change in other operating assets and liabilities:                 |   |                      |    |   |                    |   |     |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Reinsurance      recoverables and trade receivables                        |   |                      | -       |   |                    |   | (859     | )                                 |   |   | (2 | ) |   |   | - |   |   |   | (861 | ) |   |   | 44,736 |   |   |   | 5,032 |   |   |   | - |   |   |   | 48,907 |   |   |   | - |   |   |   | - |   |   |   | 48,907 |   |
| Inventories                                                                |   |                      | -       |   |                    |   | (4,718   | )                                 |   |   | - |   |   |   | - |   |   |   | (4,718 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (4,718 | ) |   |   | (43 | ) |   |   | - |   |   |   | (4,761 | ) |
| Prepaid      expenses                                                      |   |                      | (9,122  | )      |                    |   | 1,193    |                              |   |   | (30 | ) |   |   | - |   |   |   | (7,959 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (7,959 | ) |   |   | (246 | ) |   |   | - |   |   |   | (8,205 | ) |
| Capitalization      of deferred policy acquisition costs                   |   |                      | -       |   |                    |   | -        |                              |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (1,093 | ) |   |   | (7,075 | ) |   |   | - |   |   |   | (8,168 | ) |   |   | - |   |   |   | - |   |   |   | (8,168 | ) |
| Other      assets                                                          |   |                      | (10     | )      |                    |   | 1,111    |                              |   |   | 2,182 |   |   |   | - |   |   |   | 3,283 |   |   |   | 284 |   |   |   | (395 | ) |   |   | - |   |   |   | 3,172 |   |   |   | (243 | ) |   |   | - |   |   |   | 2,929 |   |
| Related      party assets                                                  |   |                      | (1,479  | )      |                    |   | (12,973  | )                                 |   |   | 8 |   |   |   | - |   |   |   | (14,444 | ) |   |   | 14,384 |   |   |   | 5,781 |   |   |   | - |   |   |   | 5,721 |   |   |   | 2,895 |   |   |   | - |   |   |   | 8,616 |   |
| Accounts      payable and accrued expenses                                 |   |                      | (19,561 | )      |                    |   | 33,125   |                              |   |   | 4,312 |   |   |   | - |   |   |   | 17,876 |   |   |   | - |   |   |   | 4,451 |   |   |   | - |   |   |   | 22,327 |   |   |   | 331 |   |   |   | - |   |   |   | 22,658 |   |
| Policy      benefits and losses, claims and loss expenses payable          |   |                      | -       |   |                    |   | 35,298   |                              |   |   | - |   |   |   | - |   |   |   | 35,298 |   |   |   | (61,719 | ) |   |   | (13,748 | ) |   |   | - |   |   |   | (40,169 | ) |   |   | - |   |   |   | - |   |   |   | (40,169 | ) |
| Other      policyholders' funds and liabilities                            |   |                      | -       |   |                    |   | -        |                              |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 2,411 |   |   |   | 298 |   |   |   | - |   |   |   | 2,709 |   |   |   | - |   |   |   | - |   |   |   | 2,709 |   |
| Deferred      income                                                       |   |                      | -       |   |                    |   | 1,215    |                              |   |   | - |   |   |   | - |   |   |   | 1,215 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 1,215 |   |   |   | 51 |   |   |   | - |   |   |   | 1,266 |   |
| Related      party liabilities                                             |   |                      | (201    | )      |                    |   | 19,878   |                              |   |   | - |   |   |   | - |   |   |   | 19,677 |   |   |   | (1,317 | ) |   |   | (3,507 | ) |   |   | - |   |   |   | 14,853 |   |   |   | (4,445 | ) |   |   | - |   |   |   | 10,408 |   |
| Net      cash provided (used) by operating activities                      |   |                      | 29,568  |   |                    |   | 286,711  |                              |   |   | 15,404 |   |   |   | - |   |   |   | 331,683 |   |   |   | 5,439 |   |   |   | 11,377 |   |   |   | - |   |   |   | 348,499 |   |   |   | 2,222 |   |   |   | - |   |   |   | 350,721 |   |
| Cash      flows from investing activities:                                 |   |                      |    |   |                    |   |     |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Purchases      of:                                                         |   |                      |    |   |                    |   |     |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Property,      plant and equipment                                         |   |                      | (1,998  | )      |                    |   | (586,737 | )                                 |   |   | (58,477 | ) |   |   | - |   |   |   | (647,212 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (647,212 | ) |   |   | (1,132 | ) |   |   | - |   |   |   | (648,344 | ) |
| Short      term investments                                                |   |                      | -       |   |                    |   | -        |                              |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (83,277 | ) |   |   | (166,115 | ) |   |   | - |   |   |   | (249,392 | ) |   |   | - |   |   |   | - |   |   |   | (249,392 | ) |
| Fixed      maturity investments                                            |   |                      | -       |   |                    |   | -        |                              |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (71,630 | ) |   |   | (38,042 | ) |   |   | - |   |   |   | (109,672 | ) |   |   | - |   |   |   | - |   |   |   | (109,672 | ) |
| Mortgage      loans                                                        |   |                      | -       |   |                    |   | -        |                              |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (10,725 | ) |   |   | - |   |   |   | (10,725 | ) |   |   | - |   |   |   | - |   |   |   | (10,725 | ) |
| Proceeds      from sales of:                                               |   |                      |    |   |                    |   |     |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Property,      plant and equipment                                         |   |                      | -       |   |                    |   | 85,134   |                              |   |   | 4,538 |   |   |   | - |   |   |   | 89,672 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 89,672 |   |   |   | - |   |   |   | - |   |   |   | 89,672 |   |
| Short      term investments                                                |   |                      | -       |   |                    |   | -        |                              |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 111,936 |   |   |   | 164,754 |   |   |   | - |   |   |   | 276,690 |   |   |   | - |   |   |   | - |   |   |   | 276,690 |   |
| Fixed      maturity investments                                            |   |                      | -       |   |                    |   | -        |                              |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 22,409 |   |   |   | 94,449 |   |   |   | - |   |   |   | 116,858 |   |   |   | - |   |   |   | - |   |   |   | 116,858 |   |
| Cash      received in excess of purchase of company acquired               |   |                      | -       |   |                    |   | -        |                              |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 1,235 |   |   |   | - |   |   |   | 1,235 |   |   |   | - |   |   |   | - |   |   |   | 1,235 |   |
| Preferred      stock                                                       |   |                      | -       |   |                    |   | -        |                              |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 1,225 |   |   |   | - |   |   |   | 1,225 |   |   |   | - |   |   |   | - |   |   |   | 1,225 |   |
| Real      estate                                                           |   |                      | -       |   |                    |   | 195      |                              |   |   | (2,861 | ) |   |   | - |   |   |   | (2,666 | ) |   |   | 9,536 |   |   |   | - |   |   |   | - |   |   |   | 6,870 |   |   |   | - |   |   |   | - |   |   |   | 6,870 |   |
| Mortgage      loans                                                        |   |                      | -       |   |                    |   | -        |                              |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 7,062 |   |   |   | - |   |   |   | 7,062 |   |   |   | - |   |   |   | - |   |   |   | 7,062 |   |
| Payments      from notes and mortgage receivables                          |   |                      | -       |   |                    |   | 136      |                              |   |   | 766 |   |   |   | - |   |   |   | 902 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 902 |   |   |   | - |   |   |   | - |   |   |   | 902 |   |
| Net      cash provided (used) by investing activities                      |   |                      | (1,998  | )      |                    |   | (501,272 | )                                 |   |   | (56,034 | ) |   |   | - |   |   |   | (559,304 | ) |   |   | (11,026 | ) |   |   | 53,843 |   |   |   | - |   |   |   | (516,487 | ) |   |   | (1,132 | ) |   |   | - |   |   |   | (517,619 | ) |
|                                                                       |   | (page      1 of 2)        |    |
| (a)      Balance for the year ended December 31, 2006                      |   |                      |    |   |                    |   |     |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

|                                                                |   | Moving      & Storage |    |   | AMERCO      Legal Group |   |     |  AMERCO      as Consolidated |   |
|---------------------------------------------------------------------|--------|---------------------------|---------|--------|-------------------------|--------|----------|-----------------------------------|--------|
|                                                                |   | AMERCO                    |    |   | U-Haul                  |   |     | Real      Estate                  |   |   | Elimination |   |   | Moving      & StorageConsolidated |   |   | Property      &CasualtyInsurance      (a) |   |   | LifeInsurance      (a) |   |   | Elimination |   |   | AMERCOConsolidated |   |   | SAC      Holding II |   |   | Elimination |   |   | TotalConsolidated |   |
|                                                                |   |                      |    |
| Cash      flows from financing activities:                          |   | (In      thousands)       |    |
| Borrowings      from credit facilities                              |   |                      | -       |   |                    |   | 345,760  |                              |   |   | 64,429 |   |   |   | - |   |   |   | 410,189 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 410,189 |   |   |   | - |   |   |   | - |   |   |   | 410,189 |   |
| Principal      repayments on credit facilities                      |   |                      | -       |   |                    |   | (151,511 | )                                 |   |   | (43,216 | ) |   |   | - |   |   |   | (194,727 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (194,727 | ) |   |   | (1,345 | ) |   |   | - |   |   |   | (196,072 | ) |
| Debt      issuance costs                                            |   |                      | -       |   |                    |   | (3,281   | )                                 |   |   | 223 |   |   |   | - |   |   |   | (3,058 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (3,058 | ) |   |   | - |   |   |   | - |   |   |   | (3,058 | ) |
| Leveraged      Employee Stock Ownership Plan - repayments from loan |   |                      | -       |   |                    |   | 1,204    |                              |   |   | - |   |   |   | - |   |   |   | 1,204 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 1,204 |   |   |   | - |   |   |   | - |   |   |   | 1,204 |   |
| Treasury      stock repurchases                                     |   |                      | (49,106 | )      |                    |   | -        |                              |   |   | - |   |   |   | - |   |   |   | (49,106 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (49,106 | ) |   |   | - |   |   |   | - |   |   |   | (49,106 | ) |
| Proceeds      from (repayment of) intercompany loans                |   |                      | 34,501  |   |                    |   | (53,646  | )                                 |   |   | 19,145 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Preferred      stock dividends paid                                 |   |                      | (12,963 | )      |                    |   | -        |                              |   |   | - |   |   |   | - |   |   |   | (12,963 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (12,963 | ) |   |   | - |   |   |   | - |   |   |   | (12,963 | ) |
| Investment      contract deposits                                   |   |                      | -       |   |                    |   | -        |                              |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 16,695 |   |   |   | - |   |   |   | 16,695 |   |   |   | - |   |   |   | - |   |   |   | 16,695 |   |
| Investment      contract withdrawals                                |   |                      | -       |   |                    |   | -        |                              |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (79,204 | ) |   |   | - |   |   |   | (79,204 | ) |   |   | - |   |   |   | - |   |   |   | (79,204 | ) |
| Net      cash provided (used) by financing activities               |   |                      | (27,568 | )      |                    |   | 138,526  |                              |   |   | 40,581 |   |   |   | - |   |   |   | 151,539 |   |   |   | - |   |   |   | (62,509 | ) |   |   | - |   |   |   | 89,030 |   |   |   | (1,345 | ) |   |   | - |   |   |   | 87,685 |   |
|                                                                |   |                      |    |   |                    |   |     |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Effects      of exchange rate on cash                               |   |                      | -       |   |                    |   | (974     | )                                 |   |   | - |   |   |   | - |   |   |   | (974 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (974 | ) |   |   | - |   |   |   | - |   |   |   | (974 | ) |
|                                                                |   |                      |    |   |                    |   |     |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Increase      (decrease) in cash and cash equivalents               |   |                      | 2       |   |                    |   | (77,009  | )                                 |   |   | (49 | ) |   |   | - |   |   |   | (77,056 | ) |   |   | (5,587 | ) |   |   | 2,711 |   |   |   | - |   |   |   | (79,932 | ) |   |   | (255 | ) |   |   | - |   |   |   | (80,187 | ) |
| Cash      and cash equivalents at beginning of period               |   |                      | 7       |   |                    |   | 140,499  |                              |   |   | 856 |   |   |   | - |   |   |   | 141,362 |   |   |   | 9,815 |   |   |   | 4,027 |   |   |   | - |   |   |   | 155,204 |   |   |   | 255 |   |   |   | - |   |   |   | 155,459 |   |
| Cash      and cash equivalents at end of period                     |   | $                         | 9       |   |                    | $      | 63,490   |                              |   | $ | 807 |   |   | $ | - |   |   | $ | 64,306 |   |   | $ | 4,228 |   |   | $ | 6,738 |   |   | $ | - |   |   | $ | 75,272 |   |   | $ | - |   |   | $ | - |   |   | $ | 75,272 |   |
|                                                                |   | (page      2 of 2)        |    |
| (a)      Balance for the year ended December 31, 2006               |   |                      |    |   |                    |   |     |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

|                                                                       |   | Moving      & Storage |     |   | AMERCO      Legal Group |   |     |  AMERCO      as Consolidated |
|----------------------------------------------------------------------------|--------|---------------------------|----------|--------|-------------------------|--------|----------|-----------------------------------|
|                                                                       |   | AMERCO                    |     |   | U-Haul                  |   |     | Real      Estate                  |   |   | Elimination |   |   | Moving      & StorageConsolidated |   |   | Property      &CasualtyInsurance      (a) |   |   | LifeInsurance      (a) |   |   | Elimination |   |   | AMERCOConsolidated |   |   | SAC      Holding II |   |   | Elimination |   |   | TotalConsolidated |   |
|                                                                       |   |                      |     |
| Cash      flows from operating activities:                                 |   | (In      thousands)       |     |
| Net      earnings (loss)                                                   |   | $                         | 120,806  |   |                    | $      | 139,420  |                              |   | $ | 14,004 |   |   | $ | (153,424 | ) |   | $ | 120,806 |   |   | $ | 631 |   |   | $ | 8,949 |   |   | $ | (9,580 | ) |   | $ | 120,806 |   |   | $ | 384 |   |   | $ | (36 | ) |   | $ | 121,154 |   |
| Earnings      from consolidated entities                                   |   |                      | (163,388 | )      |                    |   | -        |                              |   |   | - |   |   |   | 153,424 |   |   |   | (9,964 | ) |   |   | - |   |   |   | - |   |   |   | 9,580 |   |   |   | (384 | ) |   |   | - |   |   |   | 384 |   |   |   | - |   |
| Adjustments      to reconcile net earnings to cash provided by operations: |   |                      |     |   |                    |   |     |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Depreciation                                                               |   |                      | 79       |   |                    |   | 121,942  |                              |   |   | 9,687 |   |   |   | - |   |   |   | 131,708 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 131,708 |   |   |   | 2,424 |   |   |   | (560 | ) |   |   | 133,572 |   |
| Amortization      of deferred policy acquisition costs                     |   |                      | -        |   |                    |   | -        |                              |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 2,855 |   |   |   | 21,406 |   |   |   | - |   |   |   | 24,261 |   |   |   | - |   |   |   | - |   |   |   | 24,261 |   |
| Change      in allowance for losses on trade receivables                   |   |                      | -        |   |                    |   | (188     | )                                 |   |   | - |   |   |   | - |   |   |   | (188 | ) |   |   | - |   |   |   | 5 |   |   |   | - |   |   |   | (183 | ) |   |   | - |   |   |   | - |   |   |   | (183 | ) |
| Change      in allowance for losses on mortgage notes                      |   |                      | -        |   |                    |   | (2,230   | )                                 |   |   | - |   |   |   | - |   |   |   | (2,230 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (2,230 | ) |   |   | - |   |   |   | - |   |   |   | (2,230 | ) |
| Provision      for inventory reserve                                       |   |                      | -        |   |                    |   | 2,458    |                              |   |   | - |   |   |   | - |   |   |   | 2,458 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 2,458 |   |   |   | - |   |   |   | - |   |   |   | 2,458 |   |
| Net      (gain) loss on sale of real and personal property                 |   |                      | -        |   |                    |   | 9,861    |                              |   |   | (616 | ) |   |   | - |   |   |   | 9,245 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 9,245 |   |   |   | - |   |   |   | - |   |   |   | 9,245 |   |
| Net      loss on sale of investments                                       |   |                      | -        |   |                    |   | -        |                              |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 1,377 |   |   |   | 1,031 |   |   |   | - |   |   |   | 2,408 |   |   |   | - |   |   |   | - |   |   |   | 2,408 |   |
| Write-off      of unamortized debt issuance costs                          |   |                      | 13,629   |   |                    |   | -        |                              |   |   | - |   |   |   | - |   |   |   | 13,629 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 13,629 |   |   |   | - |   |   |   | - |   |   |   | 13,629 |   |
| Deferred      income taxes                                                 |   |                      | 22,940   |   |                    |   | (8       | )                                 |   |   | - |   |   |   | - |   |   |   | 22,932 |   |   |   | 3,526 |   |   |   | (300 | ) |   |   | - |   |   |   | 26,158 |   |   |   | 2,006 |   |   |   | 265 |   |   |   | 28,429 |   |
| Net      change in other operating assets and liabilities:                 |   |                      |     |   |                    |   |     |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Reinsurance      recoverables and trade receivables                        |   |                      | -        |   |                    |   | (3,999   | )                                 |   |   | 1 |   |   |   | - |   |   |   | (3,998 | ) |   |   | 11,913 |   |   |   | 2,746 |   |   |   | - |   |   |   | 10,661 |   |   |   | - |   |   |   | - |   |   |   | 10,661 |   |
| Inventories                                                                |   |                      | -        |   |                    |   | (3,431   | )                                 |   |   | - |   |   |   | - |   |   |   | (3,431 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (3,431 | ) |   |   | (165 | ) |   |   | - |   |   |   | (3,596 | ) |
| Prepaid      expenses                                                      |   |                      | 3,142    |   |                    |   | (32,052  | )                                 |   |   | - |   |   |   | - |   |   |   | (28,910 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (28,910 | ) |   |   | 101 |   |   |   | - |   |   |   | (28,809 | ) |
| Capitalization      of deferred policy acquisition costs                   |   |                      | -        |   |                    |   | -        |                              |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (2,742 | ) |   |   | (9,368 | ) |   |   | - |   |   |   | (12,110 | ) |   |   | - |   |   |   | - |   |   |   | (12,110 | ) |
| Other      assets                                                          |   |                      | 576      |   |                    |   | 10,345   |                              |   |   | (14,684 | ) |   |   | - |   |   |   | (3,763 | ) |   |   | 1,661 |   |   |   | 777 |   |   |   | - |   |   |   | (1,325 | ) |   |   | (132 | ) |   |   | - |   |   |   | (1,457 | ) |
| Related      party assets                                                  |   |                      | (218     | )      |                    |   | (14,223  | )                                 |   |   | (79 | ) |   |   | - |   |   |   | (14,520 | ) |   |   | 4,932 |   |   |   | (181 | ) |   |   | - |   |   |   | (9,769 | ) |   |   | (698 | ) |   |   | 2,377 |   |   |   | (8,090 | ) |
| Accounts      payable and accrued expenses                                 |   |                      | 30,128   |   |                    |   | 23,089   |                              |   |   | (4,009 | ) |   |   | - |   |   |   | 49,208 |   |   |   | - |   |   |   | (12,735 | ) |   |   | - |   |   |   | 36,473 |   |   |   | 123 |   |   |   | - |   |   |   | 36,596 |   |
| Policy      benefits and losses, claims and loss expenses payable          |   |                      | -        |   |                    |   | 46,514   |                              |   |   | - |   |   |   | - |   |   |   | 46,514 |   |   |   | (38,423 | ) |   |   | (13,009 | ) |   |   | - |   |   |   | (4,918 | ) |   |   | - |   |   |   | - |   |   |   | (4,918 | ) |
| Other      policyholders' funds and liabilities                            |   |                      | -        |   |                    |   | -        |                              |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (3,447 | ) |   |   | (461 | ) |   |   | - |   |   |   | (3,908 | ) |   |   | - |   |   |   | - |   |   |   | (3,908 | ) |
| Deferred      income                                                       |   |                      | -        |   |                    |   | 2,672    |                              |   |   | (2 | ) |   |   | - |   |   |   | 2,670 |   |   |   | (6,007 | ) |   |   | 554 |   |   |   | - |   |   |   | (2,783 | ) |   |   | 195 |   |   |   | - |   |   |   | (2,588 | ) |
| Related      party liabilities                                             |   |                      | (447     | )      |                    |   | (55,594  | )                                 |   |   | - |   |   |   | - |   |   |   | (56,041 | ) |   |   | (5,182 | ) |   |   | (140 | ) |   |   | 21,252 |   |   |   | (40,111 | ) |   |   | (1,475 | ) |   |   | (2,430 | ) |   |   | (44,016 | ) |
| Net      cash provided (used) by operating activities                      |   |                      | 27,247   |   |                    |   | 244,576  |                              |   |   | 4,302 |   |   |   | - |   |   |   | 276,125 |   |   |   | (28,906 | ) |   |   | (726 | ) |   |   | 21,252 |   |   |   | 267,745 |   |   |   | 2,763 |   |   |   | - |   |   |   | 270,508 |   |
| Cash      flows from investing activities:                                 |   |                      |     |   |                    |   |     |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Purchases      of:                                                         |   |                      |     |   |                    |   |     |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Property,      plant and equipment                                         |   |                      | (2,298   | )      |                    |   | (314,793 | )                                 |   |   | (65,025 | ) |   |   | - |   |   |   | (382,116 | ) |   |   | - |   |   |   | - |   |   |   | 39,358 |   |   |   | (342,758 | ) |   |   | (1,624 | ) |   |   | - |   |   |   | (344,382 | ) |
| Short      term investments                                                |   |                      | -        |   |                    |   | -        |                              |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (245,950 | ) |   |   | (288,156 | ) |   |   | - |   |   |   | (534,106 | ) |   |   | - |   |   |   | - |   |   |   | (534,106 | ) |
| Fixed      maturity investments                                            |   |                      | -        |   |                    |   | -        |                              |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (51,021 | ) |   |   | (209,117 | ) |   |   | - |   |   |   | (260,138 | ) |   |   | - |   |   |   | - |   |   |   | (260,138 | ) |
| Mortgage      loans                                                        |   |                      | -        |   |                    |   | -        |                              |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (8,868 | ) |   |   | - |   |   |   | (8,868 | ) |   |   | - |   |   |   | - |   |   |   | (8,868 | ) |
| Proceeds      from sales of:                                               |   |                      |     |   |                    |   |     |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Property,      plant and equipment                                         |   |                      | -        |   |                    |   | 59,301   |                              |   |   | 659 |   |   |   | - |   |   |   | 59,960 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 59,960 |   |   |   | - |   |   |   | - |   |   |   | 59,960 |   |
| Short      term investments                                                |   |                      | -        |   |                    |   | -        |                              |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 229,590 |   |   |   | 371,260 |   |   |   | - |   |   |   | 600,850 |   |   |   | - |   |   |   | - |   |   |   | 600,850 |   |
| Fixed      maturity investments                                            |   |                      | -        |   |                    |   | -        |                              |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 28,863 |   |   |   | 130,753 |   |   |   | - |   |   |   | 159,616 |   |   |   | - |   |   |   | - |   |   |   | 159,616 |   |
| Equity      securities                                                     |   |                      | -        |   |                    |   | -        |                              |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 6,769 |   |   |   | - |   |   |   | 6,769 |   |   |   | - |   |   |   | - |   |   |   | 6,769 |   |
| Preferred      stock                                                       |   |                      | -        |   |                    |   | -        |                              |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 10,030 |   |   |   | 1,620 |   |   |   | - |   |   |   | 11,650 |   |   |   | - |   |   |   | - |   |   |   | 11,650 |   |
| Real      estate                                                           |   |                      | -        |   |                    |   | -        |                              |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 56,571 |   |   |   | 19,175 |   |   |   | (39,358 | ) |   |   | 36,388 |   |   |   | - |   |   |   | - |   |   |   | 36,388 |   |
| Mortgage      loans                                                        |   |                      | -        |   |                    |   | -        |                              |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 33,014 |   |   |   | (21,252 | ) |   |   | 11,762 |   |   |   | - |   |   |   | - |   |   |   | 11,762 |   |
| Payments      from notes and mortgage receivables                          |   |                      | -        |   |                    |   | 1,917    |                              |   |   | (254 | ) |   |   | - |   |   |   | 1,663 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 1,663 |   |   |   | - |   |   |   | - |   |   |   | 1,663 |   |
| Net      cash provided (used) by investing activities                      |   |                      | (2,298   | )      |                    |   | (253,575 | )                                 |   |   | (64,620 | ) |   |   | - |   |   |   | (320,493 | ) |   |   | 28,083 |   |   |   | 56,450 |   |   |   | (21,252 | ) |   |   | (257,212 | ) |   |   | (1,624 | ) |   |   | - |   |   |   | (258,836 | ) |
|                                                                       |   | (page      1 of 2)        |     |
| (a)      Balance for the year ended December 31, 2005                      |   |                      |     |   |                    |   |     |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

|                                                                |   | Moving      & Storage |     |   | AMERCO      Legal Group |   |     |  AMERCO      as Consolidated |
|---------------------------------------------------------------------|--------|---------------------------|----------|--------|-------------------------|--------|----------|-----------------------------------|
|                                                                |   | AMERCO                    |     |   | U-Haul                  |   |     | Real      Estate                  |   |   | Elimination |   |   | Moving      & StorageConsolidated |   |   | Property      &CasualtyInsurance      (a) |   |   | LifeInsurance      (a) |   |   | Elimination |   |   | AMERCOConsolidated |   |   | SAC      Holding II |   |   | Elimination |   |   | TotalConsolidated |   |
|                                                                |   |                      |     |
| Cash      flows from financing activities:                          |   | (In      thousands)       |     |
| Borrowings      from credit facilities                              |   |                      | 80,266   |   |                    |   | 244,447  |                              |   |   | 952,334 |   |   |   | - |   |   |   | 1,277,047 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 1,277,047 |   |   |   | - |   |   |   | - |   |   |   | 1,277,047 |   |
| Principal      repayments on credit facilities                      |   |                      | (860,274 | )      |                    |   | (12,970  | )                                 |   |   | (218,856 | ) |   |   | - |   |   |   | (1,092,100 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (1,092,100 | ) |   |   | (1,242 | ) |   |   | - |   |   |   | (1,093,342 | ) |
| Debt      issuance costs                                            |   |                      | -        |   |                    |   | (5,143   | )                                 |   |   | (24,445 | ) |   |   | - |   |   |   | (29,588 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (29,588 | ) |   |   | - |   |   |   | - |   |   |   | (29,588 | ) |
| Leveraged      Employee Stock Ownership Plan - repayments from loan |   |                      | -        |   |                    |   | 1,553    |                              |   |   | - |   |   |   | - |   |   |   | 1,553 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 1,553 |   |   |   | - |   |   |   | - |   |   |   | 1,553 |   |
| Proceeds      from (repayment of) intercompany loans                |   |                      | 768,015  |   |                    |   | (115,829 | )                                 |   |   | (652,186 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Preferred      stock dividends paid                                 |   |                      | (12,963  | )      |                    |   | -        |                              |   |   | - |   |   |   | - |   |   |   | (12,963 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (12,963 | ) |   |   | - |   |   |   | - |   |   |   | (12,963 | ) |
| Investment      contract deposits                                   |   |                      | -        |   |                    |   | -        |                              |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 20,322 |   |   |   | - |   |   |   | 20,322 |   |   |   | - |   |   |   | - |   |   |   | 20,322 |   |
| Investment      contract withdrawals                                |   |                      | -        |   |                    |   | -        |                              |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (75,011 | ) |   |   | - |   |   |   | (75,011 | ) |   |   | - |   |   |   | - |   |   |   | (75,011 | ) |
| Net      cash provided (used) by financing activities               |   |                      | (24,956  | )      |                    |   | 112,058  |                              |   |   | 56,847 |   |   |   | - |   |   |   | 143,949 |   |   |   | - |   |   |   | (54,689 | ) |   |   | - |   |   |   | 89,260 |   |   |   | (1,242 | ) |   |   | - |   |   |   | 88,018 |   |
|                                                                |   |                      |     |   |                    |   |     |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Effects      of exchange rate on cash                               |   |                      | -        |   |                    |   | (186     | )                                 |   |   | - |   |   |   | - |   |   |   | (186 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (186 | ) |   |   | - |   |   |   | - |   |   |   | (186 | ) |
|                                                                |   |                      |     |   |                    |   |     |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Increase      (decrease) in cash and cash equivalents               |   |                      | (7       | )      |                    |   | 102,873  |                              |   |   | (3,471 | ) |   |   | - |   |   |   | 99,395 |   |   |   | (823 | ) |   |   | 1,035 |   |   |   | - |   |   |   | 99,607 |   |   |   | (103 | ) |   |   | - |   |   |   | 99,504 |   |
| Cash      and cash equivalents at beginning of period               |   |                      | 14       |   |                    |   | 37,626   |                              |   |   | 4,327 |   |   |   | - |   |   |   | 41,967 |   |   |   | 10,638 |   |   |   | 2,992 |   |   |   | - |   |   |   | 55,597 |   |   |   | 358 |   |   |   | - |   |   |   | 55,955 |   |
| Cash      and cash equivalents at end of period                     |   | $                         | 7        |   |                    | $      | 140,499  |                              |   | $ | 856 |   |   | $ | - |   |   | $ | 141,362 |   |   | $ | 9,815 |   |   | $ | 4,027 |   |   | $ | - |   |   | $ | 155,204 |   |   | $ | 255 |   |   | $ | - |   |   | $ | 155,459 |   |
|                                                                |   | (page      2 of 2)        |     |
| (a)      Balance for the year ended December 31, 2005               |   |                      |     |   |                    |   |     |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

----

SCHEDULE I 

| CONDENSED      FINANCIAL INFORMATION OF AMERCO |
|------------------------------------------------|

|  BALANCE      SHEETS |
|---------------------------|

|                                            |   | March      31,      |      |
|-------------------------------------------------|--------|---------------------|-----------|
|                                            |   | 2008                |      |   | 2007 |   |
|                                            |   | (In      thousands) |      |
| ASSETS                                          |   |
| Cash      and cash equivalents                  |   | $                   | 30        |   |   | $ | 9 |   |
| Investment      in subsidiaries                 |   |                | (234,927  | ) |   |   | (235,860 | ) |
| Investment      in SAC Holding II               |   |                | -         |   |   |   | (9,256 | ) |
| Related      party assets                       |   |                | 1,164,092 |   |   |   | 1,180,929 |   |
| Other      assets                               |   |                | 4,578     |   |   |   | 15,146 |   |
| Total      assets                               |   | $                   | 933,773   |   |   | $ | 950,968 |   |
|                                            |   |                |      |   |   |   |   |   |
| LIABILITIES      AND STOCKHOLDERS' EQUITY       |   |
| Liabilities:                                    |   |                |      |   |   |   |   |   |
| Other      liabilities                          |   | $                   | 168,447   |   |   | $ | 187,520 |   |
|                                            |   |                | 168,447   |   |   |   | 187,520 |   |
| Stockholders'      equity:                      |   |                |      |   |   |   |   |   |
| Preferred      stock                            |   |                | -         |   |   |   | - |   |
| Common      stock                               |   |                | 10,497    |   |   |   | 10,497 |   |
| Additional      paid-in capital                 |   |                | 419,370   |   |   |   | 421,483 |   |
| Accumulated      other comprehensive loss       |   |                | (55,279   | ) |   |   | (41,779 | ) |
| Retained      earnings:                         |   |                |      |   |   |   |   |   |
| Beginning      of period                        |   |                | 847,271   |   |   |   | 763,203 |   |
| Net      earnings                               |   |                | 67,581    |   |   |   | 90,205 |   |
| Dividends                                       |   |                | 563       |   |   |   | (12,963 | ) |
|                                            |   |                | 1,290,003 |   |   |   | 1,230,646 |   |
|                                            |   |                |      |   |   |   |   |   |
| Less:      Cost of common shares in treasury    |   |                | (524,677  | ) |   |   | (467,198 | ) |
| Total      stockholders' equity                 |   |                | 765,326   |   |   |   | 763,448 |   |
| Total      liabilities and stockholders' equity |   | $                   | 933,773   |   |   | $ | 950,968 |   |
|                                            |   |                |      |   |   |   |   |   |

----

CONDENSED FINANCIAL INFORMATION OFAMERCO

|                                                               |   | Year      Ended March 31,                            |       |
|--------------------------------------------------------------------|--------|------------------------------------------------------|------------|
|                                                               |   | 2008                                                 |       |   | 2007 |   |   | 2006 |   |
|                                                               |   | (In      thousands, except share and per share data) |       |
| Revenues:                                                          |   |                                                 |       |   |   |   |   |   |   |
| Net      interest income from subsidiaries                         |   | $                                                    | 4,498      |   |   | $ | 5,071 |   |   | $ | 5,567 |   |
| Expenses:                                                          |   |                                                 |       |   |   |   |   |   |   |   |   |   |
| Operating      expenses                                            |   |                                                 | 10,071     |   |   |   | 12,096 |   |   |   | 12,722 |   |
| Other      expenses                                                |   |                                                 | 609        |   |   |   | 381 |   |   |   | 160 |   |
| Total      expenses                                                |   |                                                 | 10,680     |   |   |   | 12,477 |   |   |   | 12,882 |   |
| Equity      in earnings of subsidiaries and SAC Holding II         |   |                                                 | 15,648     |   |   |   | 35,796 |   |   |   | 163,388 |   |
| Interest      income (expense)                                     |   |                                                 | 88,613     |   |   |   | 89,026 |   |   |   | (24,636 | ) |
| Fees      on early extinguishment of debt                          |   |                                                 | -          |   |   |   | - |   |   |   | (35,627 | ) |
| Pretax      earnings                                               |   |                                                 | 98,079     |   |   |   | 117,416 |   |   |   | 95,810 |   |
| Income      tax benefit (expense)                                  |   |                                                 | (30,498    | ) |   |   | (27,211 | ) |   |   | 24,996 |   |
| Net      earnings                                                  |   |                                                 | 67,581     |   |   |   | 90,205 |   |   |   | 120,806 |   |
| Less:      Preferred stock dividends                               |   |                                                 | (12,963    | ) |   |   | (12,963 | ) |   |   | (12,963 | ) |
| Earnings      available to common shareholders                     |   | $                                                    | 54,618     |   |   | $ | 77,242 |   |   | $ | 107,843 |   |
| Basic      and diluted earnings per common share                   |   | $                                                    | 2.77       |   |   | $ | 3.71 |   |   | $ | 5.17 |   |
| Weighted      average common shares outstanding: Basic and diluted |   |                                                 | 19,740,571 |   |   |   | 20,838,570 |   |   |   | 20,857,108 |   |

The accompanying notes are an integral part of thesecondensed consolidated financial statements.

----

|                                                                             |   | Year      Ended March 31, |    |
|----------------------------------------------------------------------------------|--------|---------------------------|---------|
|                                                                             |   | 2008                      |    |   | 2007 |   |   | 2006 |   |
|                                                                             |   | (In      thousands)       |    |
|  Cash      flows from operating activities:                                 |   |                      |    |   |   |   |   |   |   |
|  Net      earnings                                                          |   | $                         | 67,581  |   |   | $ | 90,205 |   |   | $ | 120,806 |   |
|  Change      in investments in subsidiaries and SAC Holding II              |   |                      | (15,648 | ) |   |   | (35,796 | ) |   |   | (163,388 | ) |
|  Adjustments      to reconcile net earnings to cash provided by operations: |   |                      |    |   |   |   |   |   |   |   |   |   |
|  Depreciation                                                               |   |                      | 515     |   |   |   | 293 |   |   |   | 79 |   |
|  Write-off      of unamortized debt issuance costs                          |   |                      | -       |   |   |   | - |   |   |   | 13,629 |   |
|  Deferred      income taxes                                                 |   |                      | (11,222 | ) |   |   | 5,239 |   |   |   | 22,940 |   |
|  Net      change in other operating assets and liabilities:                 |   |                      |    |   |   |   |   |   |   |   |   |   |
|  Prepaid      expenses                                                      |   |                      | 6,665   |   |   |   | (9,122 | ) |   |   | 3,142 |   |
|  Other      assets                                                          |   |                      | 4       |   |   |   | (10 | ) |   |   | 576 |   |
|  Related      party assets                                                  |   |                      | 6,007   |   |   |   | (1,479 | ) |   |   | (218 | ) |
|  Accounts      payable and accrued expenses                                 |   |                      | 7,571   |   |   |   | (19,561 | ) |   |   | 30,128 |   |
|  Related      party liabilities                                             |   |                      | -       |   |   |   | (201 | ) |   |   | (447 | ) |
|  Net      cash provided by operating activities                             |   |                      | 61,473  |   |   |   | 29,568 |   |   |   | 27,247 |   |
|                                                                             |   |                      |    |   |   |   |   |   |   |   |   |   |
|  Cash      flows from investment activities:                                |   |                      |    |   |   |   |   |   |   |   |   |   |
|  Purchase      of property, plant and equipment                             |   |                      | (1,841  | ) |   |   | (1,998 | ) |   |   | (2,298 | ) |
|  Net      cash used by investing activities                                 |   |                      | (1,841  | ) |   |   | (1,998 | ) |   |   | (2,298 | ) |
|                                                                             |   |                      |    |   |   |   |   |   |   |   |   |   |
|  Cash      flows from financing activities:                                 |   |                      |    |   |   |   |   |   |   |   |   |   |
|  Borrowings      from credit facilities                                     |   |                      | -       |   |   |   | - |   |   |   | 80,266 |   |
|  Principal      repayments on credit facilities                             |   |                      | -       |   |   |   | - |   |   |   | (860,274 | ) |
|  Treasury      stock repurchases                                            |   |                      | (57,478 | ) |   |   | (49,106 | ) |   |   | - |   |
|  Proceeds      from intercompany loans                                      |   |                      | 10,830  |   |   |   | 34,501 |   |   |   | 768,015 |   |
|  Preferred      stock dividends paid                                        |   |                      | (12,963 | ) |   |   | (12,963 | ) |   |   | (12,963 | ) |
|  Net      cash used by financing activities                                 |   |                      | (59,611 | ) |   |   | (27,568 | ) |   |   | (24,956 | ) |
|                                                                             |   |                      |    |   |   |   |   |   |   |   |   |   |
|  Increase      (decrease) in cash and cash equivalents                      |   |                      | 21      |   |   |   | 2 |   |   |   | (7 | ) |
|  Cash      and cash equivalents at beginning of period                      |   |                      | 9       |   |   |   | 7 |   |   |   | 14 |   |
|  Cash      and cash equivalents at end of period                            |   | $                         | 30      |   |   | $ | 9 |   |   | $ | 7 |   |

----

----

SCHEDULE II

|                                               |   | Balance      at Beginning of Year |   |   | Additions      Charged to Costs and Expenses |   |   | Additions      Charged to Other Accounts |   |   | Deductions |   |   | Balance      at Year End |   |
|----------------------------------------------------|--------|-----------------------------------|--------|--------|----------------------------------------------|--------|--------|------------------------------------------|--------|--------|------------|--------|--------|--------------------------|--------|
|                                               |   |                              |   |   |                                         |   |   |                                     |   |   |       |   |   |                     |   |
| Year      ended March 31, 2008                     |   | (In      thousands)               |   |
| Allowance      for doubtful accounts               |   |                              |   |   |                                         |   |   |                                     |   |   |       |   |   |                     |   |
| (deducted      from trade receivable)              |   | $                                 | 1,412  |   |                                         | $      | 2,300  |                                     |   | $      | -          |   |   | $                        | (2,224 | ) |   | $ | 1,488 |   |
| Allowance      for doubtful accounts               |   |                              |   |   |                                         |   |   |                                     |   |   |       |   |   |                     |   |   |   |   |   |   |
| (deducted      from notes and mortgage receivable) |   | $                                 | 354    |   |                                         | $      | -      |                                     |   | $      | -          |   |   | $                        | (39    | ) |   | $ | 315 |   |
| Allowance      for LIFO                            |   |                              |   |   |                                         |   |   |                                     |   |   |       |   |   |                     |   |   |   |   |   |   |
| (deducted      from inventory)                     |   | $                                 | 8,372  |   |                                         | $      | 2,704  |                                     |   | $      | -          |   |   | $                        | -      |   |   | $ | 11,076 |   |
| Allowance      for obsolescence                    |   |                              |   |   |                                         |   |   |                                     |   |   |       |   |   |                     |   |   |   |   |   |   |
| (deducted      from inventory)                     |   | $                                 | 1,500  |   |                                         | $      | 42     |                                     |   | $      | -          |   |   | $                        | -      |   |   | $ | 1,542 |   |
| Allowance      for probable losses                 |   |                              |   |   |                                         |   |   |                                     |   |   |       |   |   |                     |   |   |   |   |   |   |
| (deducted      from mortgage loans)                |   | $                                 | 803    |   |                                         | $      | -      |                                     |   | $      | -          |   |   | $                        | (128   | ) |   | $ | 675 |   |
|                                               |   |                              |   |   |                                         |   |   |                                     |   |   |       |   |   |                     |   |   |   |   |   |   |
| Year      ended March 31, 2007                     |   |                              |   |   |                                         |   |   |                                     |   |   |       |   |   |                     |   |   |   |   |   |   |
| Allowance      for doubtful accounts               |   |                              |   |   |                                         |   |   |                                     |   |   |       |   |   |                     |   |   |   |   |   |   |
| (deducted      from trade receivable)              |   | $                                 | 1,363  |   |                                         | $      | 3,122  |                                     |   | $      | -          |   |   | $                        | (3,073 | ) |   | $ | 1,412 |   |
| Allowance      for doubtful accounts               |   |                              |   |   |                                         |   |   |                                     |   |   |       |   |   |                     |   |   |   |   |   |   |
| (deducted      from notes and mortgage receivable) |   | $                                 | 394    |   |                                         | $      | -      |                                     |   | $      | -          |   |   | $                        | (40    | ) |   | $ | 354 |   |
| Allowance      for LIFO                            |   |                              |   |   |                                         |   |   |                                     |   |   |       |   |   |                     |   |   |   |   |   |   |
| (deducted      from inventory)                     |   | $                                 | 5,693  |   |                                         | $      | 2,679  |                                     |   | $      | -          |   |   | $                        | -      |   |   | $ | 8,372 |   |
| Allowance      for obsolescence                    |   |                              |   |   |                                         |   |   |                                     |   |   |       |   |   |                     |   |   |   |   |   |   |
| (deducted      from inventory)                     |   | $                                 | 1,500  |   |                                         | $      | -      |                                     |   | $      | -          |   |   | $                        | -      |   |   | $ | 1,500 |   |
| Allowance      for probable losses                 |   |                              |   |   |                                         |   |   |                                     |   |   |       |   |   |                     |   |   |   |   |   |   |
| (deducted      from mortgage loans)                |   | $                                 | 1,200  |   |                                         | $      | -      |                                     |   | $      | -          |   |   | $                        | (397   | ) |   | $ | 803 |   |
|                                               |   |                              |   |   |                                         |   |   |                                     |   |   |       |   |   |                     |   |   |   |   |   |   |
| Year      ended March 31, 2006                     |   |                              |   |   |                                         |   |   |                                     |   |   |       |   |   |                     |   |   |   |   |   |   |
| Allowance      for doubtful accounts               |   |                              |   |   |                                         |   |   |                                     |   |   |       |   |   |                     |   |   |   |   |   |   |
| (deducted      from trade receivable)              |   | $                                 | 1,546  |   |                                         | $      | 1,994  |                                     |   | $      | -          |   |   | $                        | (2,177 | ) |   | $ | 1,363 |   |
| Allowance      for doubtful accounts               |   |                              |   |   |                                         |   |   |                                     |   |   |       |   |   |                     |   |   |   |   |   |   |
| (deducted      from notes and mortgage receivable) |   | $                                 | 2,624  |   |                                         | $      | -      |                                     |   | $      | -          |   |   | $                        | (2,230 | ) |   | $ | 394 |   |
| Allowance      for LIFO                            |   |                              |   |   |                                         |   |   |                                     |   |   |       |   |   |                     |   |   |   |   |   |   |
| (deducted      from inventory)                     |   | $                                 | 3,234  |   |                                         | $      | 2,570  |                                     |   | $      | -          |   |   | $                        | (111   | ) |   | $ | 5,693 |   |
| Allowance      for obsolescence                    |   |                              |   |   |                                         |   |   |                                     |   |   |       |   |   |                     |   |   |   |   |   |   |
| (deducted      from inventory)                     |   | $                                 | 1,500  |   |                                         | $      | -      |                                     |   | $      | -          |   |   | $                        | -      |   |   | $ | 1,500 |   |
| Allowance      for probable losses                 |   |                              |   |   |                                         |   |   |                                     |   |   |       |   |   |                     |   |   |   |   |   |   |
| (deducted      from mortgage loans)                |   | $                                 | 1,200  |   |                                         | $      | -      |                                     |   | $      | -          |   |   | $                        | -      |   |   | $ | 1,200 |   |

----

| Year                | Affiliation      with Registrant           |   | Deferred      Policy Acquisition Cost |   |   | Reserves      for Unpaid Claims and Adjustment Expenses |   |    | Discount      if any, Deducted |   |   | Unearned      Premiums |   |   | Net      Earned Premiums (1) |   |   | Net      Investment Income (2) |   |   | Claim      and Claim Adjustment Expenses Incurred Related to Current    Year |   |   | Claim      and Claim Adjustment Expenses Incurred Related to Prior    Year |   |   | Amortization      of Deferred Policy Acquisition Costs |   |   | Paid      Claims and Claim Adjustment Expense |   |   | Net      Premiums Written (1) |   |
|---------------------|--------------------------------------------|--------|---------------------------------------|--------|--------|---------------------------------------------------------|--------|---------|--------------------------------|--------|--------|------------------------|--------|--------|------------------------------|--------|--------|--------------------------------|--------|--------|------------------------------------------------------------------------------|--------|--------|----------------------------------------------------------------------------|--------|--------|--------------------------------------------------------|--------|--------|-----------------------------------------------|--------|--------|-------------------------------|--------|
| (In      thousands) |                                       |
| 2008                | Consolidated      property casualty entity |   | $                                     | 30     |   |                                                    | $      | 288,410 |                           |   |   | N/A                    |   |   | $                            | 200    |   |                           | $      | 28,388 |                                                                         |   | $      | 12,141                                                                     |   |   | $                                                      | 7,094  |   |                                          | $      | 11,894 |                          |   | $ | 190 |   |   | $ | 38,592 |   |   | $ | 28,334 |   |
| 2007                | Consolidated      property casualty entity |   |                                  | 196    |   |                                                    |   | 288,783 |                           |   |   | N/A                    |   |   |                         | 459    |   |                           |   | 24,335 |                                                                         |   |   | 14,440                                                                     |   |   |                                                   | 6,006  |   |                                          |   | 15,895 |                          |   |   | 2,057 |   |   |   | 43,608 |   |   |   | 23,232 |   |
| 2006                | Consolidated      property casualty entity |   |                                  | 1,160  |   |                                                    |   | 346,928 |                           |   |   | N/A                    |   |   |                         | 2,557  |   |                           |   | 26,001 |                                                                         |   |   | 12,639                                                                     |   |   |                                                   | 6,429  |   |                                          |   | 16,161 |                          |   |   | 2,855 |   |   |   | 48,453 |   |   |   | 25,771 |   |

|  (1) | The      earned and written premiums are reported net of intersegment transactions.      There were no earned premiums eliminated for the year ended 2008, 2007 and      2006, respectively. |
|-----------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  (2) | Net      Investment Income excludes net realized losses on investments of $0.1      million, $0.3 million and $1.3 million for the years ended 2008, 2007 and      2006, respectively. |
|-----------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                     |        AMERCO                       |                     |
|--------------------------|------------------------------------------|--------------------------|
|                     |                                     |                     |
|                     | By:                                      | /s/      Edward J. Shoen |
|                     | Edward      J. Shoen                     |
|                     | Chairman      of the Board and President |
| Dated:      June 4, 2008 |                                     |                     |

| Signature                 | Title                           | Date                                                                             |
|---------------------------|---------------------------------|----------------------------------------------------------------------------------|
| /s/                       | EDWARD      J. SHOEN            | Chairman      of the Board and President (Principal      Executive Officer) | June      4, 2008 |
| Edward      J. Shoen      |                            |                                                                             |
| /s/                       | JASON      A. BERG              | Chief      Accounting Officer (Principal      Accounting Officer)           | June      4, 2008 |
| Jason      A. Berg        |                            |                                                                             |
|  /s/                 |  CHARLES      J. BAYER     | Director                                                                         | June      4, 2008 |
| Charles      J. Bayear    |                            |                                                                             |
|  /s/                 |  JOHN      P. BROGAN       | Director                                                                         | June      4, 2008 |
| John      P. Brogan       |                            |                                                                             |
|  /s/                 |  JOHN      M. DODDS        | Director                                                                         | June      4, 2008 |
| John      M. Dodds        |                            |                                                                             |
|  /s/                 |  MICHAEL      L. GALLAGHER | Director                                                                         | June      4, 2008 |
| Michael      L. Gallagher |                            |                                                                             |
|  /s/                 |  M.      FRANK LYONS       | Director                                                                         | June      4, 2008 |
| M.      Frank Lyons       |                            |                                                                             |
|  /s/                 |  DANIEL      R. MULLEN     | Director                                                                         | June      4, 2008 |
| Daniel      R. Mullen     |                            |                                                                             |

----

| Signature           |  Title               |  Date     |
|---------------------|---------------------------|----------------|
|  /s/           |  JAMES      P. SHOEN |  Director |  June      4, 2008 |
| James      P. Shoen |                      |           |

----