CUZ Cousins Properties Inc

Cousins Properties Incorporated (NYSE: CUZ) announced today it has formed a venture with Prudential Real Estate Investors (PREI�) to develop, own and lease Terminus 200, an under-construction 565,000-square-foot office building in the Buckhead district of Atlanta. The capitalization of the venture, including debt, will be $172.5 million, which is the anticipated construction cost of the building. Concurrent with its formation, the venture has closed on a $138 million construction loan with Wells Fargo Bank as Administrative Agent, Regions Bank as Syndication Agent, and PNC Bank, Bank of North Georgia and Atlantic Capital Bank as additional participants. PREI is acting on behalf of institutional investors. �PREI has been a great partner over the years and we�re thrilled to extend our relationship to Terminus,� said Craig Jones, chief investment officer of Cousins. Terminus 200 is the second office building at Terminus and follows the successful April delivery of Terminus 100. Signed tenants at Terminus 100 include Bain & Co., Citigroup, CB Richard Ellis, Wachovia, Cumulus Media, Synovus, Atlantic Capital Bancshares, Wilmington Trust Corp., UBS and Premiere Global Services. The building is now more than 95 percent leased. Terminus is a 10-acre mixed-use project that will ultimately include more than 1 million square feet of office space, 125,000 square feet of restaurant and retail space, and more than 800 units of for-sale residential. The first residential building at the project � the 137-unit 10 Terminus Place � is under construction and scheduled for delivery in summer 2008. Terminus 200 is slated to deliver in August 2009. PREI, the real estate investment management and advisory business of Prudential Financial, Inc., offers a broad range of investment opportunities and investment management services through its specialized operating units in the United States, Europe, Asia, and Latin America. The company's fund management operations, located in Parsippany, N.J.; Atlanta, Ga.; Munich, London, Mexico City and Singapore, are supported by a network of local offices throughout the world. As of June 30, 2007, PREI managed $39.6 billion in gross assets (28.8 billion net) on behalf of more than 400 clients and is ranked among the largest real estate investment managers. For more information, visit www.prei.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 7.7 million square feet of office space, 4.8 million square feet of retail space, 2.0 million square feet of industrial space, 737 for-sale units in three under-development multi-family projects, 24 residential communities under development, over 9,100 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 13.1 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 (including the overall condition of the residential market), 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.