Cousins Properties Announces Results of First Quarter Dividend Elections

ATLANTA--Cousins Properties Incorporated (NYSE: CUZ) announced today the results of the shareholders’ elections relating to Cousins’ first quarter common stock dividend of $0.09 per share declared by its Board of Directors on January 15, 2010.

The dividend will consist of approximately $2,997,000 in cash and 820,000 shares of common stock. The amount of cash elected to be received was greater than the cash limit of 33.34% of the total value of the dividend or approximately $2,997,000, and therefore, shareholders who elected to receive all cash will receive a combination of cash and stock.

The number of shares included in the dividend is calculated based on the $7.30 average closing price per share of Cousins’ common stock on the New York Stock Exchange on March 3, March 4 and March 5, 2010.

For a complete copy of the company's news release and financials, please contact:

Cameron Golden, 404-407-1984, Director of Investor Relations and Corporate Communications
camerongolden@cousinsproperties.com
www.cousinsproperties.com

Cousins Properties Reports Results for Quarter and Year Ended Dec. 31, 2009

 ATLANTA--Cousins Properties Incorporated (NYSE:CUZ) today reported its results of operations for the three months and year ended December 31, 2009.

 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”) for the fourth quarter of 2009 was $11.5 million, or $0.11 per share, before separation and non-cash impairment and valuation charges discussed below, compared with FFO of $10.2 million, or $0.20 per share, for the fourth quarter of 2008.

FFO was $50.1 million, or $0.77 per share, before such charges for the year ended December 31, 2009, compared with $61.0 million, or $1.18 per share, for the same period in 2008.

Net Income (Loss) Available to Common Stockholders (“Net Income (Loss) Available”) was $(3.6) million, or $(0.04) per share, before such separation and non-cash impairment and valuation charges for the fourth quarter of 2009 compared with $(4.1) million, or $(0.08) per share, for the fourth quarter of 2008.

Net Income Available was $156.4 million, or $2.39 per share, before such charges for the year ended December 31, 2009, compared with $7.6 million, or $0.15 per share, for the same period in 2008.

The Company recorded $137.9 million of separation and non-cash impairment and valuation charges during the second and third quarters of 2009 and $4.2 million of such charges during the fourth quarter of 2009.

Including the separation and non-cash impairment and valuation charges, FFO was $7.3 million, or $0.07 per share, for the fourth quarter of 2009 and a loss of $(92.0) million, or $(1.40) per share, for the year ended December 31, 2009.

Net Loss Available, after such separation and non-cash charges, was $(7.8) million, or $(0.08) per share, for the fourth quarter of 2009 and Net Income Available was $14.4 million, or $0.22 per share, for the year ended December 31, 2009.

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

Cousins Properties Reports Results for Quarter Ended Sept. 30, 2009

ATLANTA--Cousins Properties Incorporated (NYSE:CUZ) today reported its results of operations for the three and nine months ended September 30, 2009. 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 $7.3 million, or $0.12 per share, before certain separation and non-cash impairment and valuation charges discussed below for the third quarter of 2009, compared with FFO of $20.9 million, or $0.39 per share, for the third quarter of 2008. FFO was $38.6 million, or $0.70 per share, before such charges for the nine months ended September 30, 2009, compared with $50.9 million, or $0.95 per share, for the same period in 2008.


For a complete copy of the company's news release and financials, please contact James A. Fleming, (top right photo)  Executive Vice President and Chief Financial Officer, 404-407-1150, jimfleming@cousinsproperties.com or

Cameron Golden, Director of Investor Relations and Corporate Communications, 404-407-1984
mailto:camerongolden@cousinsproperties.com,%20Web site address: http://www.cousinsproperties.com/

Cousins Properties Declares Fourth Quarter Common and Preferred Stock Dividends

ATLANTA--Cousins Properties Incorporated (NYSE: CUZ) announced today that its Board of Directors has declared a quarterly dividend of $0.09 per share, payable December 11, 2009, to common stockholders of record as of October 26, 2009. The dividend will be payable in a combination of cash and shares of the Company’s common stock with the cash component of the dividend not to exceed 33.34% of the aggregate dividend amount.

“The Fourth Quarter dividend of 9 cents per share is consistent with last Quarter’s dividend level, after adjusting for our recent stock offering and making a conservative estimate of interest savings that will result from the proceeds of the offering,” said Jim Fleming, (top right photo)  Cousins’ Chief Financial Officer. “This level still appears appropriate going forward, based on our expected taxable income in 2010.”

The Board of Directors declared a regular quarterly cash dividend on its Series A Cumulative Redeemable Preferred Stock. The dividend of $0.484375 per share, or $1.9375 on an annualized basis, is payable November 16, 2009, to Series A preferred stockholders of record on November 2, 2009.

The Board of Directors has also declared a regular quarterly cash dividend on its Series B Cumulative Redeemable Preferred Stock. The dividend of $0.46875 per share, or $1.875 on an annualized basis, is payable November 16, 2009, to Series B preferred stockholders of record on November 2, 2009.

Contact: Cameron Golden, 404-407-1984, camerongolden@cousinsproperties.com, http://www.cousinsproperties.com/

Cousins Properties Announces Pricing of Public Offering of Common Stock

ATLANTA, GA -- Cousins Properties Incorporated (the “Company”) (NYSE: CUZ) announced today that it has priced its public offering of 40,000,000 shares of common stock at a price to the public of $7.25 per share.

 In addition, the Company has granted the underwriters a 30-day option to purchase up to 6,000,000 additional shares of common stock to cover over allotments, if any.

The estimated net proceeds to the Company from the offering, before giving effect to any exercise of the underwriters’ over allotment option, are expected to be approximately $277.2 million, after deducting the underwriting discount and estimated offering expenses payable by the Company.

The Company intends to use the net proceeds from the sale of the shares of its common stock to repay approximately $248.0 million of existing indebtedness under its unsecured revolving credit facility and the balance for general corporate purposes, which may include repayment of additional indebtedness under the unsecured revolving credit facility.

Subject to customary closing conditions, the offering is expected to close on or about September 21, 2009.
BofA Merrill Lynch, Morgan Stanley and J.P. Morgan are acting as the joint book-running managers for the offering.

Contact: Cameron Golden, 404-407-1984, camerongolden@cousinsproperties.com

Cousins Properties Commences Common Stock Offering

ATLANTA -- Cousins Properties Incorporated (the “Company”) (NYSE: CUZ) announced today that it has commenced a public offering of 32,000,000 shares of common stock.

 The underwriters will be granted a 30-day option to purchase up to 4,800,000 additional shares of common stock to cover overallotments, if any.

BofA Merrill Lynch, Morgan Stanley and J.P. Morgan are the joint book-running managers for the offering.

The Company plans to use the net proceeds from the offering to repay a portion of the outstanding balance under the Company’s unsecured revolving credit facility. Any net proceeds in excess of $248 million will be used to repay additional existing indebtedness under the Company’s revolving credit facility and for general corporate purposes.

Contact: Cameron Golden, 404-407-1984, camerongolden@cousinsproperties.com

Cousins Announces Impairment Charge

ATLANTA -- Cousins Properties Incorporated (NYSE: CUZ) today announced that it intends to recognize in the third quarter of 2009 an impairment charge of $39 million, or approximately $0.74 cents per share, related to the Company’s joint venture interest in Terminus 200, (top right photo)  a 565,000-square-foot office tower located in the Buckhead submarket of Atlanta.

The impairment charge does not impact the Company’s ownership interest in the venture, and the Company continues as property manager and leasing agent.

The Company owns a 50% joint venture interest in Terminus 200, which was substantially completed in August 2009. During the second quarter of 2009, the venture executed a 50,000-square-foot lease for the property and is in ongoing negotiations with several potential tenants, but no additional leases have been executed.

Based on the Company’s current expectations of the amount and timing of cash flows from Terminus 200 and other considerations, the Company has determined that the estimated fair value of the investment is lower than the book value.

Pursuant to Accounting Principles Board Opinion No. 18, this difference must be recorded as an impairment because the Company deems it to be other than temporary.

The impairment charge includes the Company’s full investment in the venture (approximately $21 million as of June 30, 2009), a $17.25 million loan repayment guarantee under the project construction loan, and obligations under the existing lease.

In addition, the Company today filed with the Securities and Exchange Commission a current report on Form 8-K containing additional information regarding the Terminus 200 project, information regarding an anticipated impairment from the sale of its corporate airplane and information regarding anticipated outparcel and tract sales in the third quarter of 2009. This filing is available on the investor relations page of the Company’s website.

Contact: Cameron Golden, 404-407-1984, camerongolden@cousinsproperties.com

Cousins Properties Announces Results of Third Quarter Dividend Elections

ATLANTA -- Cousins Properties Incorporated (NYSE: CUZ) announced today the results of the shareholders’ elections relating to Cousins’ third quarter common stock dividend of $0.15 per share declared by its Board of Directors on July 15, 2009.

The dividend will consist of approximately $2,617,000 in cash and 676,000 shares of common stock.

 The amount of cash elected to be received was greater than the cash limit of 33.34% of the total value of the dividend or approximately $2,617,000, and therefore, shareholders who elected to receive all cash will receive a combination of cash and stock.

The number of shares included in the dividend is calculated based on the $7.73 average closing price per share of Cousins’ common stock on the New York Stock Exchange on September 3, September 4, and September 8, 2009. The dividend of $0.15 per share will be paid as follows:

---to shareholders electing to receive the dividend in all stock, Cousins will pay the entire dividend in common stock;

---to shareholders either electing to receive the dividend in all cash or failing to make an election, Cousins will pay the dividend in the form of $0.051 per share in cash and $0.099 per share in common stock; and Cousins will pay fractional shares in cash.

Registered shareholders with questions regarding the dividend election may call American Stock Transfer & Trust Co., Cousins’ transfer agent, at 1-800-937-5449. If your shares are held through a bank, broker or nominee and you have questions regarding the dividend election, please contact your bank, broker or nominee.

The issuance of approximately 676,000 shares of Cousins’ common stock pursuant to this dividend resulted in an effective increase of 1.3% in shares of common stock outstanding on the record date of August 3, 2009. Share and per share information will be adjusted in subsequent financial information, beginning with Cousins’ third quarter earnings release, to reflect this increase in shares of common stock.

Contact: Cameron Golden, 404-407-1984, camerongolden@cousinsproperties.com
http://www.cousinsproperties.com/

Cousins Announces Departure of Tad Leithead

ATLANTA, GA– Cousins Properties Incorporated (NYSE: CUZ) announced that Tad Leithead, (top right photo) Senior Vice President of Development, will be leaving the Company effective September 1.

Leithead, who joined the Company in 2002, will continue to represent Cousins through his new business, a community and government relations consulting firm.

"Tad is a valuable part of the Cousins team and the entire Atlanta community," said Larry Gellerstedt, (bottom left photo) President and CEO of Cousins. "We wish him the best with his new venture and are pleased that he’ll continue to represent the Company."

"I’ve always wanted to pursue a career in politics and community relations," added Leithead. "I’m proud to have worked for Cousins and am excited and honored that the relationship will continue."

CONTACT: Cameron Golden, (404) 407-1984, camerongolden@cousinsproperties.com

http://www.cousinsproperties.com/

Cousins Properties Declares Third Quarter Common and Preferred Stock Dividends

ATLANTA, GA-- Cousins Properties Incorporated (NYSE: CUZ) announced today that its Board of Directors has declared a quarterly dividend of $0.15 per share, payable September 16, 2009, to common stockholders of record as of August 3, 2009.


The dividend will be payable in a combination of cash and shares of the Company’s common stock with the cash component of the dividend not to exceed 33.34% of the aggregate dividend amount.

“We made the decision to reduce our quarterly dividend to $0.15 based on our current estimate of taxable income,” said Larry Gellerstedt, (top right photo) Chief Executive Officer of Cousins Properties.

“The reduced dividend level, combined with the stock component of the dividend, will allow us to retain significant capital. We anticipate significant investment opportunities coming out of this downturn and continue to take the steps necessary to ensure that Cousins is well positioned to take advantage of those opportunities.”

Contact: Cameron Golden, 404-407-1984, Director of Investor Relations and Corporate Communications, camerongolden@cousinsproperties.com

Cousins Chairman, CEO Bell to Retire July 1; Gellerstedt Elected CEO

ATLANTA, GA, June 8, 2009-- Cousins Properties Incorporated (NYSE: CUZ) announced today the retirement of Chairman and Chief Executive Officer Thomas D. Bell, Jr. (top right photo), effective July 1.

The Board of Directors elected President and Chief Operating Officer Larry L. Gellerstedt III (top left photo) to serve as CEO. Gellerstedt will retain the title of President.

The Board of Directors also elected S. Taylor Glover (bottom left photo) to serve as non-executive chairman of the board.

Bell has served as CEO of Cousins since January 2002 and chairman since December 2006. Among Bell’s many achievements during his tenure, he led the company as it sold nearly $3 billion in assets during the market’s peak resulting in special dividends totaling $12.62 per share.

“There is never a perfect time to leave a company as respected and admired as Cousins, but I’m confident that after seven and a half years as chief executive, the company is ready for new leadership and renewed energy,” Bell said.

“My decision to step aside now allows our extremely talented management team under the guidance of Larry to make important decisions that will prepare Cousins for the next phase of the real estate cycle.”

Gellerstedt, 53, joined Cousins Properties following the acquisition of his firm, The Gellerstedt Group, in June 2005.

Gellerstedt served as chairman and chief executive officer of the Beers Construction Company from 1986 to 1998. In 1998, after the sale of Beers to Skanska USA, he was elected chairman and chief executive officer of American Business Products, a NYSE-listed manufacturer of packaging and printed office products.

In 2000, Gellerstedt became president and chief operating officer of The Integral Group, a nationally known urban mixed-use development company. He went on to found The Gellerstedt Group in 2003.

“Tom Bell has been an extraordinary leader at Cousins and in our community,” Gellerstedt said. “What he has accomplished at the helm of Cousins during seven-plus years has been truly exceptional.

"All of us at Cousins have benefited greatly from his leadership and foresight and he will truly be missed. Just as it has for more than 50 years, our leadership team will continue to move Cousins forward, doing so with an unwavering commitment to our stakeholders, our communities and to excellence each day.”

Cousins founder and chairman emeritus Thomas G. Cousins (middle right photo) added, “I would like to thank Tom Bell for his seven and a half years of service to both the company and the community.

"He has worked tirelessly at both. I commend him especially for creating a succession plan in which I have great confidence.

"I’ve known Larry Gellerstedt for years and have every confidence he will move the company ahead with focus and determination. He is a gifted leader and has my total support.”

Glover joined the Cousins Properties Board of Directors in February 2005. He is currently the president and chief executive officer of Turner Enterprises Inc

Contact: Cameron Golden, 404-407-1984, Director of Investor Relations/Corporate Communications, camerongolden@cousinsproperties.com

Cousins Properties Announces Results of Second Quarter Dividend Elections

ATLANTA, GA -- Cousins Properties Incorporated (NYSE: CUZ) announced today the results of the shareholders’ elections relating to Cousins’ second quarter common stock dividend of $0.25 per share declared by its Board of Directors on April 14, 2009.

The dividend will consist of approximately $4,280,000 in cash and 928,000 shares of common stock. The amount of cash elected to be received was greater than the cash limit of 33.34% of the total value of the dividend or $4,280,000, and therefore, shareholders who elected to receive all cash will receive a combination of cash and stock.

The number of shares included in the dividend is calculated based on the $9.213 average closing price per share of Cousins’ common stock on the New York Stock Exchange on May 28, May 29, and June 1, 2009.

For a complete copy of the company's news release and further details on the dividend announcement, please contact:

Cameron Golden, 404-407-1984, Director of Investor Relations and Corporate Communications, camerongolden@cousinsproperties.com

Cousins Properties Reports Results for Quarter Ended March 31, 2009

ATLANTA--Cousins Properties Incorporated (NYSE:CUZ) reported its results of operations for the quarter ended March 31, 2009.

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 $7.6 million, or $0.15 per share, for the first quarter of 2009 compared with FFO of $13.8 million, or $0.27 per share, for the first quarter of 2008.

Net Income Available to Common Stockholders (“Net Income Available”) was $160.6 million, or $3.13 per share, compared with Net Income Available of $1.8 million, or $0.04 per share, for the first quarter of 2008.

First quarter highlights of the Company included the following:

As a result of a distribution from the venture to the partners, recognized approximately $167 million of deferred gain related to the June 2006 Avenue Fund transaction with Prudential.

Sold a ground-leased outparcel at The Avenue Webb Gin (top left photo) for approximately $1.8 million, generating pre-tax FFO of approximately $582,000.

Executed or renewed leases covering approximately 80,000 square feet of office space and 72,000 square feet of retail space.

Other highlights subsequent to quarter end included the following:

In April 2009, repaid in full the $83.3 million mortgage note payable secured by the San Jose MarketCenter for approximately $70 million.

The Company anticipates recognizing a gain on extinguishment of this debt of approximately $12.7 million in the second quarter of 2009.

Executed a 50,000 square foot lease with Firethorn Holdings, LLC in Terminus 200, (bottom right photo) a 25-story office building under construction at the Company’s Terminus development in Atlanta, Georgia.

At March 31, 2009, the Company’s portfolio of operational office buildings was 90% leased, its portfolio of operational retail centers was 83% leased and its operational industrial buildings were 40% leased.

“In an extremely challenging leasing environment, our leasing team made good progress during the first quarter, leasing new space and renewing existing space,” said Tom Bell, (top right photo) Chairman and CEO of Cousins.

“Our recently executed lease of two floors at Terminus 200 provides an encouraging start to the leasing of this asset.

" Equally encouraging was the purchase of our San Jose MarketCenter note at 84 cents on the dollar, which is a testament to our ability to put our strong balance sheet to work in this environment.

"We will continue to seek other opportunities that emerge while focusing on maintaining and strengthening our existing assets.”

CONTACTS:

James A. Fleming, 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

Cousins Announces Resignation of Dan DuPree

ATLANTA, GA, Mar. 2, 2009 -- Cousins Properties Incorporated (NYSE: CUZ) announced today that Dan DuPree (top right photo) has resigned from his post as Vice Chairman of the Company.

DuPree has accepted another position in the real estate industry which will be announced shortly. The resignation will be effective beginning March 15.

Contact:

Cameron Golden, Director of Investor Relations/Corporate Communications, 404-407-1984, camerongolden@cousinsproperties.com

Cousins Announces Executive Leadership Changes

ATLANTA, GA-- Cousins Properties Incorporated (NYSE: CUZ) announces that Dan DuPree, (top right photo) 62, has been named Vice Chairman of the Company.

Since 2007, Dan has been serving as Cousins’ President and Chief Operating Officer.

In his new role, DuPree will focus on a variety of key initiatives, including developing joint ventures, identifying distressed acquisition and development opportunities, and insuring the performance of Cousins’ recently developed retail portfolio.

The Company also announced today that Larry Gellerstedt, (middle left photo) 52, has been named President and Chief Operating Officer, where he will bring to bear his 30 plus years of management experience in the construction, real estate, and investment fields.

Gellerstedt joined Cousins Properties following the acquisition of his firm, The Gellerstedt Group, in June 2005, and most recently has served as Executive Vice President and Chief Development Officer for the Company.

“For more than 16 years now, Dan has made and continues to make an immeasurable contribution to Cousins. We wouldn’t be the company we are today without him,” said Tom Bell, (bottom right photo) Chairman and CEO of Cousins.

“This shift to Vice Chairman will allow him to focus even more of his considerable talents on some of our most pressing challenges and promising opportunities.”

“Every successful enterprise has to focus on sustaining the organization’s success from one generation to the next. Promoting Larry to President and COO will help provide the Company with great leadership well into the future.

"He has deep experience managing large organizations and over his career, he has also shown an appreciation for the entrepreneurial drive needed in a company like Cousins,” Bell said. “Larry is a great fit for Cousins and I’m sure he will be a great success in his new role.”

In 1984, DuPree founded New Market Development Company, Ltd. where he developed nearly 6 million square feet of retail space across the U.S. before selling the company to Cousins in 1992.

His 30 years of development experience include the execution of more than 50 commercial projects totaling more than 16 million square feet, and the management of more than 30 JV partnerships.

Gellerstedt served as chairman and chief executive officer of the Beers Construction Company from 1986 to 1998.

In 1998, after the sale of Beers to Skanska USA, he was elected chairman and chief executive officer of American Business Products, a NYSE-listed manufacturer of packaging and printed office products.

In 2000, Gellerstedt became president and chief operating officer of The Integral Group, a nationally known urban mixed-use development company. He went on to found The Gellerstedt Group in 2003.

Contact: Cameron Golden, Director of Investor Relations/Corporate Communications, 404 407 1984, camerongolden@cousinsproperties.com, http://www.cousinsproperties.com/

Cousins Properties Reports Results for Quarter Ended Dec. 31, 2008

ATLANTA, GA--Cousins Properties Incorporated (NYSE:CUZ) reported its results of operations for the three months and year ended December 31, 2008.

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 $10.2 million, or $0.20 per share, for the fourth quarter of 2008 compared with FFO of $7.3 million, or $0.14 per share, for the fourth quarter of 2007.

FFO was $61.0 million, or $1.18 per share, for the year ended December 31, 2008 compared to $48.4 million, or $0.92 per share, for the same period in 2007.

For the fourth quarter of 2008, the Company generated a Net Loss Available to Common Stockholders (“Net Loss Available”) of $4.1 million, or $0.08 per share, as compared to Net Loss Available of $5.0 million, or $0.10 per share, for the fourth quarter of 2007.

For the year ended December 31, 2008, the Company generated Net Income Available to Common Stockholders (“Net Income Available”) of $7.6 million, or $0.15 per share, compared with Net Income Available of $17.7 million, or $0.33 per share, for the same period in 2007.

For a complete copy of the company's news release and financials, please contact

James A. Fleming, (top 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

Cousins Properties Declares First Quarter Common and Preferred Stock Dividends

ATLANTA -- Cousins Properties Incorporated (NYSE: CUZ) announces its Board of Directors has declared a regular quarterly cash dividend of $0.25 per share, or $1.00 per share on an annualized basis, payable February 23, 2009, to common stockholders of record as of February 9, 2009.

The Board of Directors declared a regular quarterly cash dividend on its Series A Cumulative Redeemable Preferred Stock. The dividend of $0.484375 per share, or $1.9375 on an annualized basis, is payable February 16, 2009, to Series A preferred stockholders of record on February 2, 2009.

The Board of Directors has also declared a regular quarterly cash dividend on its Series B Cumulative Redeemable Preferred Stock. The dividend of $0.46875 per share, or $1.875 on an annualized basis, is payable February 16, 2009, to Series B preferred stockholders of record on February 2, 2009.

Contact:
Cameron Golden, 404-407-1984, Director of Investor Relations and Corporate Communications, camerongolden@cousinsproperties.com

Cousins and Horizon Group Properties to Develop Planned Outlet Center

ATLANTA, GA- - Cousins Properties Incorporated (NYSE: CUZ) will form a joint venture with Horizon Group Properties Inc., (HGPI) (OTC:HGPI.PK) to pursue the planned development of The Outlet Shoppes at Oklahoma City, (bottom right site photo) a 341,400-square-foot outlet center in Oklahoma City.

The center is planned for the intersection of Interstate 40 and Council Road and - based on the results of the holiday sellings eason and the continued interest of retailers - construction on the project would begin in spring of 2009 with a July 2010 opening.

Horizon Group is overseeing development, management and leasing of theproject.

"We're excited to team up with Horizon to pursue thispromising development," said Larry Gellerstedt, (top right photo) Cousins' executivevice president and chief development officer.

"Outlet centers are agrowing segment of retail development and Oklahoma City is very wellpositioned to support this type of center."

Based in Rosemont, Ill., Horizon Group Properties Inc. is anational owner and developer of factory outlet shopping centers and is the developer of a master-planned community in suburban Chicago.

HGPI's current portfolio consists of 1.6 million square feet of outlet shopping center space in 8 states and an additional 1.5 million square feet in development

CONTACTS:

Investment Community: Elli Kaplan, Vice President, 404 407 1972, ellikaplan@cousinsproperties.com

Media: Matt Gove, Senior Vice President, 404 407 1490, mattgove@cousinsproperties.com

Cousins' Joel Murphy Retires; Helped Launch 'Avenue' Retail Concept

ATLANTA, GA-- Cousins Properties Incorporated (NYSE: CUZ) has announced that Joel Murphy (top right photo) is retiring from the Company, effective December 31, 2008.

Murphy has been with Cousins for 20 years and is currently executive vice president and chief leasing and asset management officer, where he has responsibility for the combined office and retail leasing and asset management teams and the Company's third-party services group.

Murphy previously served for 12 years as senior vice president and president of the Company's Retail Division. He has agreed to serve as a consultant to the Company after January 1, 2009.

"Over the years, Joel has helped Cousins become a leader inretail development. His presence and influence will be missed," said Tom Bell, (top left photo) chairman and CEO of Cousins.

"We sincerely appreciate his two decades of service and the great contributions he has made to our company. We are pleased Joel has agreed to consult with us after the first of the year and wish him the best as he embarks on this next phase of his career."

During his time with Cousins, Murphy played a critical role in the Company's retail development success, most notably in the creation and growth of the Company's award-winning Avenue(R) concept retail centers. The Avenue, which was introduced in 1998, brings together national retailers, specialty shops and local restaurants in a unique outdoor setting. The Company has now developed nine Avenue centers in four states.

Cousins Board Authorizes Plan to Repurchase Stock

ATLANTA, GA--Cousins Properties Incorporated(NYSE: CUZ) has announced that its Board of Directors has adopted a new plan authorizing the expenditure of up to $20 million to repurchase the Company's Series A and Series B Cumulative Redeemable Preferred Stock.

The Company may repurchase the shares from time totime in open market transactions, pursuant to a 10b5-1 purchase planand in negotiated and block transactions as market and business conditions warrant on or before May 6, 2009.

CONTACTS:

Investment Community: Elli Kaplan, Vice President, (404) 407-1972

ellikaplan@cousinsproperties.com

Media: Matt Gove, Senior Vice President, (404) 407-1490, mattgove@cousinsproperties.com

Web site address: http://www.cousinsproperties.com/

Cousins Properties Reports Results for Quarter Ended Sept. 30, 2008

ATLANTA, GA--Cousins Properties Incorporated (NYSE:CUZ) has reported its results of operations for the three and nine months ended September 30, 2008.

All per share amounts are reported on adiluted basis; basic per share data is included in the CondensedConsolidated Statements of Income accompanying this release.

Funds from Operations Available to Common Stockholders ("FFO") was $20.9 million, or $0.41 per share, for the third quarter of 2008, compared with FFO of $7.3 million, or $0.14 per share, for the third quarter of 2007.

FFO was $50.9 million, or $0.98 per share, for the nine months ended September 30, 2008, compared with $41.2 million, or$0.77 per share, for the same period in 2007.

Net Income Available to Common Stockholders ("Net IncomeAvailable") was $7.0 million, or $0.14 per share, for the third quarter of 2008 compared with Net Income Available of $7.8 million, or$0.15 per share, for the third quarter of 2007.

Net Income Available was $11.7 million, or $0.23 per share, for the nine months ended September 30, 2008, compared with $22.7 million, or $0.43 per share,for the same period in 2007.

For a complete copy of Cousins' news release, showing financial highlights and numbers, please contact:

James A. Fleming, (top right photo) Executive Vice President and Chief Financial Officer, 404-407-1150 jimfleming@cousinsproperties.com or

Elli Kaplan Vice President 404-407-1972 ellikaplan@cousinsproperties.com

http://www.cousinsproperties.com/