Precision cut lung slices (PCLS) are used as ex vivo model of the lung to fill the gap between in vitro and in vivo experiments. To allow optimal utilization of PCLS, possibilities to prolong slice viability via cold storage using optimized storage solutions were evaluated. Rat PCLS were cold stored in DMEM/F-12 or two different preservation solutions for up to 28 days at 4 °C. After rewarming in DMEM/F-12, metabolic activity, live/dead staining and mitochondrial membrane potential was assessed to analyze overall tissue viability. Single cell suspensions were prepared and proportions of CD45+, EpCAM+, CD31+ and CD90+ cells analyzed. As functional parameters, TNF-α expression was analyzed to detect inflammatory activity and bronchoconstriction after acetylcholine stimulus. After 14 days cold storage, viability and mitochondrial membrane potential were significantly better preserved after storage in solution 1 (potassium chloride rich) and solution 2 (potassium- and lactobionate-rich analog) compared to DMEM/F-12. Analysis of cell populations revealed efficient preservation of EpCAM+, CD31+ and CD90+ cells. Proportion of CD45+ cells decreased during cold storage but was better preserved by both modified solutions than by DMEM/F-12. PCLS stored in solution 1 responded substantially longer to inflammatory stimulation than those stored in DMEM/F-12 or solution 2. Analysis of bronchoconstriction revealed total loss of function after 14 days storage in DMEM/F-12 but in contrast, a good response in PCLS stored in the optimized solutions. An improved base solution with a high potassium chloride concentration optimizes cold storage of PCLS and allows shipment between laboratories and stockpiling of tissue samples.