CUZ Cousins Properties Inc

Cousins Properties Incorporated (NYSE: CUZ) announced today the latest group of retailers with signed leases at The Avenue Webb Gin, a 380,000-square-foot open-air specialty retail center in Gwinnett County, a suburb of Atlanta. Situated on 56 acres at the intersection of Georgia Highway 124 and Webb Gin House Road, The Avenue Webb Gin is Cousins' fourth Avenue project in metro Atlanta and the Company's seventh overall. The new retailers bring The Avenue Webb Gin's 216,000-square-foot Phase I to 85 percent committed. The latest retailers to choose The Avenue Webb Gin include Chico's, White House/Black Market, Cold Stone Creamery, Famous Footwear, First Horizon Bank, Forth & Towne (Gap Inc.'s new apparel concept for women), Helzberg Diamonds, Portrait Innovations, Red Robin and Relax the Back. That list joins a large group of previously announced retailers including A&J Jewelers, After Hours Formalwear, Ann Taylor, Ann Taylor Loft, Banana Republic, Barnes & Noble, Caribou Coffee, Chili's, Coldwater Creek, Doc Green's, Ethan Allen, Francesca's Collections, Gap, Gap Kids, Gap Body, Baby Gap, Jos A. Bank, Kay Jewelers, Limited Too, Liz Claiborne Shoes, Natural Body Spa & Shoppe, New York & Company, On The Border, Romano's Macaroni Grill, Select Comfort, Talbots, Venetian Nails, Victoria's Secret and Yankee Candle. "We've hit the home stretch for The Avenue Webb Gin and these new retailer commitments are a great indication of the momentum behind this project. We expect to announce another exciting group of retailers in the near future," said Joel Murphy, president of Cousins' Retail Division. "It's a thrill to see a complicated project like this become a reality. Once again, the retail development team has delivered a shopping environment that is second to none." In addition to the shopping and dining opportunities, The Avenue Webb Gin will offer more than 19,000 square feet of office space in a prime location. When complete, The Avenue Webb Gin will be home to more than 70 retailers, businesses and restaurants. Phase I, opening on August 16, 2006, on the south side of Webb Gin House Road, will contain 216,000 square feet of retail space. Phase II, opening in October 2006 on the north side of Webb Gin House Road, will eventually contain 150,000 square feet of retail space. The Avenue concept, introduced by Cousins Properties in 1998, has been extremely well received by consumers and retailers alike. In contrast to a mall, these open-air, pedestrian-friendly centers appeal to the discriminating and often time-constrained shopper looking for high-quality merchandise in a convenient setting. A culmination of function and art, these specialty centers combine premier national retailers, select local merchants and specialty restaurants in an attractive setting. Cousins Properties has opened three Avenues in the Atlanta area, one in suburban Memphis, TN, one in suburban Los Angeles, CA and one in Melbourne, FL. Work began on The Avenue Webb Gin in Atlanta's Gwinnett County in August 2005 and it is the seventh Avenue in the Cousins portfolio. For more information about The Avenue, please visit www.theavenuealist.com. 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, industrial and land development projects. The Company's portfolio consists of interests in 7.4 million square feet of office space, 3.8 million square feet of retail space, 1.2 million square feet of industrial space, two multi-family residential projects and 24 single-family neighborhood developments, over 9,000 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 12.7 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. Certain matters discussed in this news release are forward-looking statements within the meaning of the federal securities laws and are subject to uncertainties and risks, including, but not limited to, general and local economic conditions, local real estate conditions, the activity of others developing competitive projects, the cyclical nature of the real estate industry, the financial condition of existing tenants, interest rates, the Company's ability to obtain favorable financing or zoning, environmental matters, the effects of terrorism, the failure of assets under contract for sale to ultimately close and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission, including the Company's Report on Form 10-K for the year ended December 31, 2005. The words "believes," "expects," "anticipates," "estimates" and similar expressions are intended to identify forward-looking statements. Although the Company believes that its plans, intentions and expectations reflected in any forward-looking statement are reasonable, the Company can give no assurance that these plans, intentions or expectations will be achieved. Such forward-looking statements are based on current expectations and speak as of the date of such statements. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of future events, new information or otherwise.