GUARANTY AND SURETYSHIP AGREEMENT



      THIS GUARANTY AND SURETYSHIP AGREEMENT (this "Guaranty"), dated as of the

31st day of March, 2004, made by U-HAUL INTERNATIONAL, INC., a Nevada

corporation ("Guarantor"), to UH STORAGE (DE) LIMITED PARTNERSHIP, a Delaware

limited partnership ("Landlord").



                                   W I T N E S S E T H:



      WHEREAS, Landlord, as lessor, has entered into a Lease Agreement of even

date herewith (the "Lease"), in which Landlord leased to U-Haul Moving Partners,

Inc., a Nevada limited partnership ("Tenant"), certain premises listed on

Schedule A attached hereto (collectively, the "Leased Premises");



      WHEREAS, all of the issued and outstanding partnership interests of Tenant

are owned by Guarantor; and



      WHEREAS, the execution and delivery by Guarantor of this Guaranty is a

material inducement to Landlord to execute the Lease, and Guarantor expects to

derive financial benefit from the Lease.



      NOW, THEREFORE, in consideration of the premises and other good and

valuable consideration, the receipt of which is hereby acknowledged by

Guarantor, and intending to be legally bound, Guarantor hereby covenants and

agrees as follows:



                                   ARTICLE I.

                                   GUARANTEE



      1.01. Guaranteed Obligations. Guarantor hereby absolutely

unconditionally and irrevocably guarantees to and becomes surety for Landlord

and its successors and assigns for the due, punctual and full payment,

performance and observance of, and covenants with Landlord to duly, punctually

and fully pay and perform, the following (collectively, the "Guaranteed

Obligations"):



      (a) the full and timely payment of all Rent and all other amounts due or

to become due to Landlord from Tenant under the Lease or any other agreement or

instrument executed in connection therewith, including without limitation the

Seller/Lessee's Certificate of even date therewith in favor of Landlord, whether

now existing or hereafter arising, contracted or incurred (collectively, the

"Monetary Obligations"); and



      (b) all covenants, agreements, terms, obligations and conditions,

undertakings and duties contained in the Lease to be observed, performed by or

imposed upon Tenant under the Lease, whether now existing or hereafter arising,

contracted or incurred (collectively, the "Performance Obligations"),



as and when such payment, performance or observance shall become due (whether by

acceleration or otherwise) in accordance with the terms of the Lease, which

terms are incorporated herein by reference. The Guaranteed Obligations shall not

be affected by the Tenant's voluntary or involuntary bankruptcy, assignment for

the benefit of creditors reorganization or similar proceeding affecting the

Tenant. If for any reason any Monetary Obligation shall not be paid promptly

when due, Guarantor shall, immediately upon demand, pay



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the same to Landlord when due under the terms of the Lease. If for any reason

Tenant shall fail to perform or observe any Performance Obligation, Guarantor

shall, immediately upon demand, perform and observe the same or cause the same

to be performed or observed. If, by reason of any bankruptcy, insolvency or

similar laws affecting the rights of creditors, Landlord shall be prohibited

from exercising any of Landlord's rights and remedies, including, but not

limited to, enforcement of the terrns of the Lease against the Tenant, then as

to Guarantor such prohibition shall be of no force and effect, and Landlord

shall have the right to make demand upon, and receive payment and/or performance

from Guarantor of all Guaranteed obligations and Guarantor's obligation in this

respect shall be primary and not secondary. Guarantor shall pay all Monetary

Obligations to Landlord at the address and in the manner set forth in the Lease

or at such other address as Landlord shall notify Guarantor in writing.



      1.02. Guarantee Unconditional. The obligations of Guarantor hereunder are

continuing, absolute and unconditional, irrespective of any circumstance

whatsoever which might otherwise constitute a legal or equitable discharge or

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