CUZ Cousins Properties Inc

Cousins Properties Incorporated (NYSE: CUZ) and Miami-based The Related Group announced today the companies have formed a partnership with plans to develop high-rise condominium buildings in two Atlanta projects: Terminus and CityPlace Buckhead. The partnership�s first building will be One CityPlace, the first of nine planned towers at Related�s CityPlace Buckhead. After One CityPlace is complete, the partnership would then plan to develop the first of two planned 40-story high-rise condominium buildings at Terminus, Cousins� mixed-use project at the intersection of Peachtree and Piedmont roads in Atlanta�s Buckhead district. �Related is one of the country�s top residential developers and while working with them in Miami, we developed a deep understanding of how well Jorge and his team execute,� said Tom Bell, chairman and CEO of Cousins Properties. �When they made the decision to bring their expertise to Atlanta, we were delighted to form a partnership that pairs Related�s residential strength with our local knowledge and development capability.� �When we went into the Atlanta market, we wanted a partner that knew the intricacies of the market. We picked Cousins Properties because it possesses the same values as Related,� said Jorge Perez, chairman and CEO of The Related Group. �Cousins is concerned with excellence, has vast knowledge of the local market, is financially strong, and delivers the product it promises. The combination of Related and Cousins is a force unequaled in Atlanta.� Cousins and Related are also partners on 50 Biscayne, a 529-unit condominium project under construction in downtown Miami. Situated at the intersection of Roxboro and East Paces Ferry roads in Buckhead, One CityPlace is a planned 30-story tower with 269 condominiums and 11 townhomes. Construction is expected to begin in October with completion set for third quarter 2009. Established in 1979, The Related Group is the nation's leading builder of luxury condominiums and one of the country's premier multi-family real estate development firms. Founded by Chairman and CEO Jorge M. P�rez, The Related Group has built and managed more than 55,000 residential units throughout Florida. The company ranks as Florida's top multi-family developer and the largest Hispanic-owned business in the United States. Its current development portfolio includes projects valued in excess of $10 billion. With CityPlace Buckhead, The Related Group makes its entrance into the Atlanta market. Exclusive sales and marketing are being handled by The Marketing Directors. For more information, log on to www.cityplacebuckhead.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 7.6 million square feet of office space, 5.3 million square feet of retail space, 2.0 million square feet of industrial space, 671 for-sale units in two under-development multi-family projects, 24 residential communities under development, over 9,000 acres of strategically located land tracts, and significant land holdings for development of single-family residential communities. The Company also provides leasing and management services to third-party investors; its client-services portfolio comprises 12.9 million square feet of office and retail space. The Company 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 its 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 risks associated with development projects (such as delay, cost overruns and leasing/sales risk of new properties), 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 ability of the Company to close properties under contract and other risks detailed from time to time in the Company�s filings with the Securities and Exchange Commission, including the Company�s Annual Report on Form 10-K for the year ended December 31, 2006. 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.