Public Storage 2003 Annual Report Download - page 69

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59
excess of 100,000 shares to any one person requires approval by the Executive Equity Awards Committee, (3)
options are granted at fair market value on the date of grant, (4) options have a ten year term and (5) options vest
over three years in equal installments.
ITEM 13. Certain Relationships and Related Transactions
The information required by this item is hereby incorporated by reference to the material appearing in the
Proxy Statement under the caption Certain Relationships and Related Transactions and Legal Proceedings.
ITEM 14. Principal Accountant Fees and Services
Fees billed to the Company by Ernst & Young LLP for 2002 and 2003 as are follows:
Audit Fees: Audit fees billed (or expected to be billed) to the Company by Ernst & Young LLP for the
audit of the Companys annual financial statements, reviews of the quarterly financial statements included
in the Companys quarterly reports on Form 10-Q and services in connection with the Companys
registration statements and securities offerings totaled $360,400 for 2002 and $369,400 in 2003.
Tax Fees: Tax fees billed (or expected to be billed) to the Company by Ernst & Young LLP for tax
services (primarily federal and state income tax preparation) totaled $590,200 in 2002 and $615,700 in
2003.
Audit Related Fees and Other Fees: During 2002 and 2003 Ernst & Young LLP did not bill the Company
for audit related services or any other services, except audit services and tax services denoted above.
The Audit Committee of the Company pre-approves all services performed by Ernst & Young LLP,
including those listed above. At this time, the Audit Committee has not delegated pre-approval authority to any
member or members of the Audit Committee.