CUZ Cousins Properties Inc

When The Avenue Carriage Crossing opens on Wednesday, October 19 in suburban Memphis, Tennessee, it will signal the blending of two retail leaders' best skills into one large-scale specialty retail development that will ultimately have 786,000 square feet of retail space on a 96-acre site. The Avenue Carriage Crossing will not only be the largest Avenue in the Cousins Properties' (NYSE: CUZ) portfolio, but it will also be the largest open-air retail center in Tennessee - with 91% of the first phase of retail space already committed. This project is being developed jointly with venture partner Jim Wilson & Associates (JW&A), a privately held real estate developer based in Montgomery, Alabama. JW&A is also a leader in the retail sector, having completed many successful large-scale projects over the past 30 years in the Southeast. The Cousins and JW&A partnership features distinct development responsibilities that have been key to the success of The Avenue Carriage Crossing, now coming close to completion at the intersection of Houston Levee Road and Bill Morris Parkway (a/k/a The Nonconnah Parkway) in Collierville. Cousins brought its open-air development expertise to the deal, while the JW&A team took responsibility for the land assemblage. JW&A also spent the better part of three years before construction began in May 2004 forging positive working relationships with city, county and regional officials to address permitting and entitlement issues associated with the center. The leasing assignments for the center went largely along lines of expertise as well - with JW&A taking on the department stores (Dillard's and Parisian), and a joint effort between the partners for the specialty retailers. Many of those stores including Gap, Barnes & Noble, Talbots, Chico's, Banana Republic and Ann Taylor have a presence at JW&A and Avenue developments in other locations. The Avenue Carriage Crossing will offer a unique shopping experience with some 100 retail stores and restaurants at full build-out, a children's park, and landscaped common areas with attractive pedestrian walkways, fountains and bronze statues. The Avenue's retail concept also caters to busy family schedules by offering great shopping and dining options in a convenient and relaxed setting. "The Wilson group's work ethic, attention to detail and sensitivity to retailers' needs so closely mirrors our own here at Cousins that we knew right from the start that the venture would yield a successful project," said Joel Murphy, Cousins' President of the Retail Division. "Our teams are very like minded and both place a premium on quality and service to our retail clients." Jim Wilson, Jr., President & CEO of JW&A also recognizes the synergy, by saying, "The Cousins name is one of great integrity and they have demonstrated a superior level of expertise on six well-executed Avenues to date. We couldn't have found a more ideal development partner." The Avenue concept was introduced by Cousins Properties in 1998 and combines premier national retailers, select local merchants and specialty restaurants in an attractive, pedestrian-friendly, open-air setting and has been extremely well received by the consumer and the retailer alike. About Cousins Properties Incorporated: Cousins Properties Incorporated, headquartered in Atlanta, has extensive experience in the real estate industry including the development, acquisition, financing, management and leasing of properties. The property types that Cousins actively invests in include office, multi-family, retail, medical office, industrial and land development projects. The Company's portfolio consists of interests in 7.5 million square feet of office and medical office space, 646 for-sale multi-family residential units, 3.8 million square feet of retail space, 0.4 million square feet of industrial space, over 3,300 acres of strategically located land tracts for sale or future development, and significant land holdings for development of single-family residential communities. Cousins also provides leasing and management services to third-party investors; its client-services portfolio comprises 11.2 million square feet of office space. Cousins is a fully integrated equity real estate investment trust (REIT) that has been public since 1962 and trades on the New York Stock Exchange under the symbol "CUZ." For more information on the Company, please visit Cousins' Web site at www.cousinsproperties.com. About Jim Wilson & Associates: With over 5 million square feet of retail in operation and an additional 3 million square feet under development, Jim Wilson, Jr., leads this forward-thinking company Jim Wilson & Associates (JW&A) with his sons Will Wilson and Jim Wilson, III, accompanied by a staff of long-tenured professionals who bring hands-on experience to each company division. Since 1975, Montgomery, Alabama-based JW&A has cut a defining mark on the shopping center industry. This full service company brings leasing, management, development, marketing, finance and operations specialists to each property with a plan designed to meet the needs of the project. The JW&A portfolio includes cutting edge, fashion lifestyle centers, traditional enclosed malls, office towers, residential developments, hotels and innovative power centers. Web site at www.jwamalls.com.