PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
Documents containing the information required to be provided in this Part I will be separately sent or
given to employees participating in the Public Storage Profit Sharing Plan (to be renamed the PS 401(k)/Profit
Sharing Plan) (the "Plan"), as contemplated by Rule 428(b)(1) under the Securities Act of 1933, as amended (the
"Securities Act"). In accordance with the instructions to Part I of Form S-8, such documents will not be filed
with the Securities and Exchange Commission (the "Commission") either as part of this Registration Statement or
as prospectuses or prospectus supplements pursuant to Rule 424 under the Securities Act.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
ITEM 3. Incorporation of Documents by Reference
PS Business Parks, Inc. (the "Company") hereby incorporates by reference into this Registration
Statement the following documents:
(a) The Company's Annual Report on Form 10-K for the fiscal year ended December 31, 1999;
(b) The Company's Current Report on Form 8-K dated December 30, 1999 (filed January 10, 2000), as
amended by a Form 8-K/A dated December 30, 1999 (filed March 13, 2000);
(c) The Company's Current Report on Form 8-K dated March 7, 2000 (filed March 8, 2000);
(d) All reports filed by the Company with the Commission under Section 13(a) or 15(d) of the
Securities Exchange Act of 1934, as amended (the "Exchange Act"), since December 31, 1999;
(e) The description of the Company's Common Stock (formerly Common Stock Series A), $.01 par value
per share, contained in the Company's Registration Statement on Form 8-A, effective March 15, 1991, as
supplemented by the description of the Company's Common Stock contained in the Prospectus dated June 2, 1999
included in the Company's Registration Statement on Form S-3 (File No. 333-78627);
(f) All documents subsequently filed by the Company pursuant to Section 13(a), 13(c), 14, or 15(d)
of the Exchange Act, prior to the filing of a post-effective amendment which indicates that all securities
offered have been sold or which deregisters all securities remaining unsold.
The Plan hereby incorporates by reference into this Registration Statement all documents subsequently
filed by the Plan pursuant to Section 13(a), 13(c), 14, or 15(d) of the Exchange Act, prior to the filing of a
post-effective amendment which indicates that all securities offered have been sold or which deregisters all
securities remaining unsold.
Any statement contained in a document incorporated or deemed to be incorporated by reference shall be
deemed to be modified or superseded to the extent that a statement contained in any other subsequently filed
document which also is or is deemed to be incorporated by reference herein modifies or supersedes such prior
statement. The documents required to be so modified or superseded shall not be deemed to constitute a part of
this Registration Statement, except as so modified or superseded.
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To the extent that any proxy statement is incorporated by reference herein, such incorporation shall not
include any information contained in such proxy statement which is not, pursuant to the Commission's rules,
deemed to be "filed" with the Commission or subject to the liabilities of Section 18 of the Exchange Act.
ITEM 4. Description of Securities
A description of the Company's Common Stock, $.01 par value per share, is incorporated by reference
under Item 3.
ITEM 5. Interests of Named Experts and Counsel
Not applicable.
ITEM 6. Indemnification of Directors and Officers
The Company's Restated Articles of Incorporation provide that the Company may indemnify the agents of
the Company to the maximum extent permitted under California law. The Company has also entered into indemnity
agreements with its management and non-management directors and executive officers. The agreements permit the
Company to indemnify directors and executive officers to the maximum extent permitted under California law and
prohibit the Company from terminating its indemnification obligations as to acts or omissions of any director or
executive officer occurring before the termination. The indemnification and limitations on liability permitted
by the Restated Articles of Incorporation and the agreements are subject to the limitations set forth by
California law. The Company believes the indemnification agreements will assist it in attracting and retaining
qualified individuals to serve as directors and executive officers of the Company.
ITEM 7. Exemption From Registration Claimed
Not applicable.
ITEM 8. Exhibits
Exhibit Number Description
23.1 Consent of Independent Auditors.
24.1 Power of Attorney (contained on page 5 of this Registration
Statement).
ITEM 9. Undertakings
(a) The undersigned Registrant hereby undertakes:
(1) To file, during any period in which offers or sales are being made, a post-effective
amendment to this Registration Statement:
(i) To include any prospectus required by Section 10(a)(3) of the
Securities Act;
(ii) To reflect in the prospectus any facts or events arising after the
effective date of the Registration Statement (or the most recent post-effective
amendment thereof) which, individually or in the aggregate, represent a fundamental
change in the information set forth in the Registration Statement;
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(iii) To include any material information with respect to the plan of
distribution not previously disclosed in the Registration Statement or any material
change to such information in the Registration Statement;
provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the
information required to be included in a post-effective amendment by those paragraphs
is contained in periodic reports filed by the Registrant pursuant to Section 13 or
Section 15(d) of the Exchange Act that are incorporated by reference in this
Registration Statement.
(2) That, for the purpose of determining any liability under the Securities Act, each such
post-effective amendment shall be deemed to be a new Registration Statement relating
to the securities offered therein, and the offering of such securities at that time
shall be deemed to be the initial bona fide offering thereof.
(3) To remove from registration by means of a post-effective amendment any of the
securities being registered that remain unsold at the termination of the offering.
(b) The undersigned Registrant hereby undertakes that, for purposes of determining any liability
under the Securities Act, each filing of the Registrant's annual report pursuant to Section 13(a) or Section
15(d) of the Exchange Act and each filing of the Plan's annual report pursuant to Section 15(d) of the Exchange
Act that is incorporated by reference in this Registration Statement shall be deemed to be a new Registration
Statement relating to the securities offered therein, and the offering of such securities at that time shall be
deemed to be the initial bona fide offering thereof.
(c) The undersigned Registrant hereby undertakes that the Registrant has submitted or will submit
the Plan and any amendment thereto to the Internal Revenue Service ("IRS") in a timely manner and has made or
will make all changes required by the IRS in order to qualify the Plan.
(d) Insofar as indemnification for liabilities arising under the Securities Act may be permitted to
directors, officers, and controlling persons of the Registrant pursuant to the foregoing provisions, or
otherwise, the Registrant has been advised that in the opinion of the Commission such indemnification is against
public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for
indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid
by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or
proceeding) is asserted by such director, officer or controlling person in connection with the securities being
registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling
precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is
against public policy as expressed in the Securities Act and will be governed by the final adjudication of such
issue.
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SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has
reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused
this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City
of Glendale, State of California, on the 20th day of November, 2000.
PS BUSINESS PARKS, INC.
By: /S/ RONALD L. HAVNER, JR.
------------------------------------------
Ronald L. Havner, Jr., President
Pursuant to the requirements of the Securities Act of 1933, Public Storage Profit Sharing Plan (to be
renamed PS 401(k)/Profit Sharing Plan) has duly caused this Registration Statement to be signed on its behalf by
the undersigned, thereunto duly authorized, in the City of Glendale, State of California, on the 20th day of
November, 2000.
PUBLIC STORAGE PROFIT SHARING PLAN
(to be renamed PS 401(k)/Profit Sharing Plan)
By: /S/ HARVEY LENKIN
------------------------------------------
Harvey Lenkin
Chairman, Administrative Committee
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POWER OF ATTORNEY
Each director and officer of PS Business Parks, Inc. whose signature appears below hereby authorizes
Ronald L. Havner, Jr. and Harvey Lenkin, and each of them, as attorney-in-fact and agent, with full powers of
substitution and resubstitution, to sign on his behalf, individually and in each capacity stated below, any
amendment, including post-effective amendments to this Registration Statement and/or to sign any related
registration statement filed pursuant to Rule 462(b) of the Securities Act of 1933, as amended, and in each case
to file the same, with all exhibits thereto, and all documents in connection therewith, with the Securities and
Exchange Commission, granting unto said attorneys-in-fact and agents, each acting alone, with full power and
authority to do and perform each and every act and thing requisite and necessary to be done in and about the
premises, as fully as to all intents and purposes as he might or could do in person, hereby ratifying and
confirming all that said attorneys-in-fact and agents, each acting alone, or his substitute(s), may lawfully do
or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed
by the following persons in the capacities and on the dates indicated.
Signature Capacity Date
Chairman of the Board, Chief Executive
/S/ RONALD L. HAVNER, JR. Officer, President and Director November 20, 2000
---------------------------------------- (principal executive officer)
Ronald L. Havner, Jr.
Vice President and Chief Financial
/S/ JACK E. CORRIGAN Officer (principal financial officer and November 20, 2000
---------------------------------------- principal accounting officer)
Jack E. Corrigan
/S/ HARVEY LENKIN Director November 20, 2000
----------------------------------------
Harvey Lenkin
/S/ VERN O. CURTIS Director November 20, 2000
----------------------------------------
Vern O. Curtis
/S/ ARTHUR M. FRIEDMAN Director November 20, 2000
----------------------------------------
Arthur M. Friedman
/S/ JAMES H. KROPP Director November 20, 2000
----------------------------------------
James H. Kropp
/S/ ALAN K. PRIBBLE Director November 20, 2000
----------------------------------------
Alan K. Pribble
/S/ JACK D. STEELE Director November 20, 2000
----------------------------------------
Jack D. Steele
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EXHIBIT INDEX
Exhibit Number Description
23.1 Consent of Independent Auditors.
24.1 Power of Attorney (contained on page 5 of this Registration Statement).
