CUZ Cousins Properties Inc

Cousins Properties Incorporated (NYSE: CUZ) announced today it has signed Forestar Real Estate Group Inc. (NYSE: FOR) to a 32,000-square-foot lease in Building II at Palisades West, a two-building, 375,000-square-foot office project under construction in southwest Austin, Texas. The lease, the first in the project�s second building, brings Palisades West to 67 percent leased overall. The project�s 220,000-square-foot first building is fully leased to Dimensional Fund Advisors. Both buildings are expected to deliver this fall. �Palisades West is fulfilling its promise as a great corporate office site with this new commitment from Forestar. Southwest Austin continues to be one of the city�s most attractive office market and we look forward to more interest as we get closer to delivering the buildings,� said Tim Hendricks, senior vice president of Cousins. �We are excited about the relocation of our corporate headquarters to Palisades West,� said Jim DeCosmo, president and chief executive officer of Forestar Real Estate Group. �This new facility has a great location and provides our company with space that will support our growth needs for the foreseeable future. As a 25% owner in the Palisades West project, we believe this site will provide significant value to other corporate office customers in the Austin market.� Forestar Real Estate Group Inc. operates in three business segments: real estate, mineral resources and fiber resources. The real estate segment owns directly or through ventures about 372,000 acres of real estate located in 10 states and 13 markets in the U.S. The real estate segment has 23 real estate projects representing over 31,000 acres currently in the entitlement process, and 75 entitled, developed and under development projects in eight states and twelve markets encompassing almost 17,000 acres, comprised of about 29,000 residential lots and approximately 2,000 commercial acres. The mineral resources segment manages about 622,000 net acres of oil and gas mineral interests. The fiber resources segment sells wood fiber from its land primarily located in Georgia, and leases land for recreational uses. Forestar's address on the World Wide Web is www.forestargroup.com. Celebrating its 50th anniversary in 2008, Cousins Properties Incorporated is a leading diversified real estate company with extensive experience in development, acquisition, financing, management and leasing. Based in Atlanta, the Company actively invests in office, multi-family, retail, industrial and land development projects. Since its founding, Cousins has developed 20 million square feet of office space, 20 million square feet of retail space, more than 4,000 multi-family units and more than 60 single-family neighborhoods. The Company is a fully integrated equity real estate investment trust (REIT) and trades on the New York Stock Exchange under the symbol CUZ. For more, please visit 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, 2007. 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.