FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public
Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

REYES JOHN 		2. Issuer Name and Ticker or Trading Symbol

PUBLIC STORAGE INC /CA [ PSA ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                      _____ 10% Owner
__ X __ Officer (give title below)      __ X __ Other (specify below)
Senior Vice President / Chief Financial Officer
(Last)          (First)          (Middle)

701 WESTERN AVENUE 		3. Date of Earliest Transaction (MM/DD/YYYY)

8/5/2004
(Street)

GLENDALE, CA 91201-2349
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Transaction Date (MM/DD/YYYY) 2A. Deemed Execution Date, if any (MM/DD/YYYY) 3. Transaction Code
(Instr. 8) 		4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock   8/5/2004     A    10000   A   (5) 30500   (4) D    
Common Stock                  4469.142   (1) I   By 401(k) plan  
Depositary Shares Representing Equity Stock                  650   D    
Depositary Shares Representing Equity Stock                  1105.084   (1) I   By 401(k) plan  

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YYYY) 3A. Deemed Execution Date, if any (MM/DD/YYYY) 4. Transaction Code
(Instr. 8) 		5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4) 		8. Price of Derivative Security
(Instr. 5) 		9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (right to buy)   (3) $47.65   8/5/2004     A     20000       8/5/2005   8/5/2014   Common Stock   20000   $0   20000   D    
Stock Option (right to buy)   (3) $47.65   8/5/2004     A     20000       8/5/2006   8/5/2014   Common Stock   20000   $0   20000   D    
Stock Option (right to buy)   (3) $47.65   8/5/2004     A     20000       8/5/2007   8/5/2014   Common Stock   20000   $0   20000   D    
Stock Option (right to buy)   (3) $47.65   8/5/2004     A     20000       8/5/2008   8/5/2014   Common Stock   20000   $0   20000   D    
Stock Option (right to buy)   (3) $47.65   8/5/2004     A     20000       8/5/2009   8/5/2014   Common Stock   20000   $0   20000   D    
Stock Option (right to buy)   (2) $23.0625                   12/13/2001   12/13/2010   Common Stock   53333     53333   D    
Stock Option (right to buy)   (2) $23.0625                   12/13/2002   12/13/2010   Common Stock   53333     53333   D    
Stock Option (right to buy)   (2) $23.0625                   12/13/2003   12/13/2010   Common Stock   53334     53334   D    
Stock Option (right to buy)   (2) $28.875                   5/8/2000   5/8/2009   Common Stock   6666     6666   D    
Stock Option (right to buy)   (2) $28.875                   5/8/2001   5/8/2009   Common Stock   6667     6667   D    
Stock Option (right to buy)   (2) $28.875                   5/8/2002   5/8/2009   Common Stock   6667     6667   D    
Stock Option (right to buy)   (2) $29.3125                   5/27/1999   5/27/2008   Common Stock   3333     3333   D    
Stock Option (right to buy)   (2) $29.3125                   5/27/2000   5/27/2008   Common Stock   3333     3333   D    
Stock Option (right to buy)   (2) $29.3125                   5/27/2001   5/27/2008   Common Stock   3334     3334   D    
Stock Option (right to buy)   (2) $26.25                   11/20/1999   11/20/2008   Common Stock   4000     4000   D    
Stock Option (right to buy)   (2) $26.25                   11/20/2000   11/20/2008   Common Stock   4000     4000   D    
Stock Option (right to buy)   (2) $26.25                   11/20/2001   11/20/2008   Common Stock   4000     4000   D    

Explanation of Responses:
( 1)  Based on plan information as of August 5, 2004.
( 2)  Stock options granted pursuant to the 1996 Stock Option and Incentive Plan.
( 3)  Stock options granted pursuant to the 2001 Stock Option and Incentive Plan.
( 4)  Includes 10,000 restricted stock units.
( 5)  Restricted stock units granted on the transaction date which vest 20% on each of the first, second, third, fourth and fifth anniversaries of the transaction date.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
REYES JOHN
701 WESTERN AVENUE
GLENDALE, CA 91201-2349

Senior Vice President Chief Financial Officer
Signatures
/s/ John Reyes 8/6/2004
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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End of Filing