CLEVELAND, Nov. 14, 2003 (PRIMEZONE) -- Liberty Self-Stor, Inc. (OTCBB:LSSI) today reported that funds from operations from its 19 self-storage facilities for the third quarter of 2003 were $294,069, or $0.10 per share basic and diluted, and for the nine months ended September 30, 2003, were $821,242, or $0.27 per share basic and diluted. This is an increase of $453,361, or 123.2%, compared to the nine months ended September 30, 2002, when the funds from operations were $367,881. Liberty also reported a net loss of $13,329, or $0.004 per share basic and diluted, for the third quarter of 2003, and a net loss of $57,868, or $0.02 per share basic and diluted, for the nine months ended September 30, 2003. This compares to a net loss of $51,071, or $0.02 per share basic and diluted, for the third quarter of 2002, and a net loss of $273,581, or $0.09 per share basic and diluted, for the nine months ended September 30, 2002. The net loss for the nine months ended September 30, 2002, includes an $84,817 expense, net of minority interest, due to a change in accounting principle.
Liberty is a self-storage real estate investment trust headquartered in Mentor, Ohio. It owns and operates 19 self-storage facilities located in Ohio and New York. All 19 facilities are operated under the "Liberty Self-Stor, Ltd." trade name.
Any investor or potential investor in Liberty must consider the risks stated in filings by Liberty with the Securities and Exchange Commission, including Liberty's Form 10-KSB for the year ended December 31, 2002, 10-QSB for the quarter ended September 30, 2003, and other periodic filings.