Exhibit 14

                              PUBLIC STORAGE, INC.
                  CODE OF ETHICS FOR SENIOR FINANCIAL OFFICERS

1.       Scope and Purpose

         This Code of Ethics for Senior Financial Officers applies to the
Company's principal executive officer, principal financial officer, and
principal accounting officer or controller, or persons performing similar
functions (each a "Senior Financial Officer"). This Code is designed to promote
(1) honest and ethical conduct, (2) avoidance of conflicts of interests, (3)
full, fair, accurate, timely and understandable disclosure and (4) compliance
with applicable governmental laws, rules and regulations. Each Senior Financial
Officer must conduct himself or herself in accordance with this Code and must
seek to avoid even the appearance of improper behavior. Senior Financial
Officers should also refer to and abide by the Company's Standards of Business
Conduct, which are in addition to this Code.

2.       Honest and Ethical Conduct

         Each Senior Financial Officer must always conduct him/herself in an
honest and ethical manner. Each Senior Financial Officer must act with the
highest standards of personal and professional integrity and not tolerate others
who, attempt to deceive, or evade responsibility for actions. All actual or
apparent conflicts of interest between personal and professional relationships
must be handled honestly, ethically and in accordance with the policies
specified in this Code. 3. Compliance with Laws, Rules and Regulations

3.       Compliance with Laws, Rules and Regulations

         Compliance with applicable governmental laws, rules and regulations,
both in letter and in spirit, is one of the foundations on which this Company's
ethical policies are built. Each Senior Financial Officer must understand and
take responsibility for complying with the governmental laws, rules and
regulations of the cities, states and countries in which the Company operates.
For example, it is critical that Senior Financial Officers understand the
governmental laws, rules and regulations applicable to disclosures the Company
is required to make in its periodic reports and otherwise. Although a Senior
Financial Officer may not know the details of all these laws, rules and
regulations, it is important that he or she know enough to determine when to
seek advice from the general counsel or other appropriate personnel.

4.       Rules to  Promote  Full,  Fair,  Accurate,  Timely  and  Understandable
         Disclosure

         Each Senior Financial Officer must take the following steps to ensure
full, fair, accurate, timely and understandable disclosure in reports and
documents that the Company files with the Securities and Exchange Commission and
in other public communications made by the Company:

         1. Carefully  review  drafts of reports  and  documents  the Company is
            required  to file with the SEC  before  they are  filed and  Company
            press  releases  or  other  public  communications  before  they are
            released to the public,  with particular  focus on disclosures  each
            Senior  Financial  Officer does not  understand or agree with and on
            information  known  to the  officer  that  is not  reflected  in the
            report, document, press release or public communication.

                                  Exhibit - 14


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         2. Meet with the disclosure committee, members of senior management not
            on the  committee,  division  heads,  accounting  staff  and  others
            involved in the disclosure  process to discuss their comments on the
            draft report, document, press release or public communication.

         3. Establish  and  maintain  disclosure  controls and  procedures  that
            ensure  that  material  information  is  included  in  each  report,
            document, press release or public communication in a timely fashion.

         4. Consult with the Audit Committee of the Company's Board of Directors
            on a regular  basis to determine  whether they have  identified  any
            weaknesses or concerns with respect to internal controls.

         5. When relevant,  confirm that neither the Company's internal auditors
            nor its outside accountants are aware of any material  misstatements
            or omissions  in the draft report or document,  or have any concerns
            about the management's discussion and analysis section of a report.

         6. Bring to the  attention  of the  disclosure  committee  and/or Audit
            Committee  matters  that the Senior  Financial  Officer  feels could
            compromise the integrity of the Company's financial reports.

         7. Always act with the highest  standards of personal and  professional
            integrity;  do not  tolerate  others who attempt to  deceive,  or to
            evade responsibility for their actions.

5.       Reporting Violations of the Code

         Any Senior Financial Officer who becomes aware of any violation of the
Code must promptly bring the violation to the attention of the Audit Committee
of the Board of Directors.

6.       Compliance with the Code

         Each Senior Financial Officer will be held accountable for adherence to
this Code. A violator of this Code will be subject to disciplinary action, up to
and including a discharge from the Company and, where appropriate, civil
liability and criminal prosecution.


7.       Waiver of the Code

         Any waiver of this Code may be made only by the independent directors
on the Board of Directors or by an authorized committee of the Board of
Directors comprised solely of independent directors, and will be disclosed as
required by law or SEC regulations.


8.       Acknowledgement

         Senior Financial Officers are required to sign a form acknowledging
that they have received, read, and agree to comply with the Code of Ethics for
Senior Financial Officers.

[As adopted by the Board of Directors of Public Storage, Inc.]

                                  Exhibit - 14