Cloning objects

I was wondering if and how to go about cloning an object to make a new one, using the same model but a different texture, as far as I can tell you cannot have one object use more then one texture at a time. So I was hoping someone could tell me how I would go about taking an object from the library and sorta clone it into a new object? I'm guess it would possibly be more then just simply copying the old files and renaming them or I could be wrong and it could be that simple.

Here is an example of what I'm trying to get at: I added some advertisement to the bus shelters/hut but I don't want all my shelters to have the same ads, so I want to clone the shelter and have say 2 different ones with their own textures(ads) on them.

Any help, tips would be appreciated.

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There ARE possibilities to variate the texture via script, but without SDK released yet, I cannot explain every step here in detail...