Cousins Properties Reports Results for Quarter Ended March 31, 2010

ATLANTA--Cousins Properties Incorporated (NYSE:CUZ) today reported its results of operations for the quarter ended March 31, 2010. All per share amounts are reported on a diluted basis; basic per share data is included in the Condensed Consolidated Statements of Income accompanying this release.

Funds from Operations Available to Common Stockholders (“FFO”) was $14.0 million, or $0.14 per share, for the first quarter of 2010 compared with FFO of $7.6 million, or $0.15 per share, for the first quarter of 2009.

Net Loss Available to Common Stockholders was $(1.6) million, or $(0.02) per share, for the first quarter of 2010 compared with Net Income Available to Common Stockholders of $160.6 million, or $3.13 per share, for the first quarter of 2009.

During the first quarter of 2009, the Company recognized approximately $167 million of deferred gain related to a joint venture that holds several retail properties.

First quarter 2010 highlights of the Company included the following:

Sold nine outparcels at three retail centers, generating FFO of approximately $4.7 million.

Closed 19 units at its 10 Terminus Place (top left photo)  condominium project, generating FFO of approximately $2.2 million.

Sold Glenmore Garden Villas in Charlotte, North Carolina, generating FFO of approximately $369,000.

Sold 53 acres of land at Jefferson Mill Business Park, (top right photo)  generating FFO of approximately $328,000.

Increased the percent leased of Lakeside Ranch Business Park (middle left photo)  to 77% upon execution of a lease with Owens & Minor for 223,000 square feet.

Executed or renewed leases covering approximately 232,000 square feet of office space and 162,000 square feet of retail space.

Amended its Credit and Term Facilities to provide more financial flexibility.

For a complete copy of the company's news release and financials, please contact:
James A. Fleming, (bottom right photo) 404-407-1150, Executive Vice President and Chief Financial Officer
jimfleming@cousinsproperties.com
or
Cameron Golden, 404-407-1984, Director of Investor Relations and Corporate Communications, camerongolden@cousinsproperties.com
http://www.cousinsproperties.com/