CUZ Cousins Properties Inc

Cousins Properties Incorporated (NYSE:CUZ) offered the following comment on an October 29 news story from the Associated Press that incorrectly summarized a Goldman Sachs research report assessing credit concerns among REITs. The wire story had erroneously assumed the Goldman report included Cousins Properties as a company with major refinancing concerns in the near term when Cousins was included in the report as a REIT with �development exposure.� Cousins Properties has only $8.6 million of debt maturing between now and December 31, 2009. Therefore, there are no near-term refinancing concerns. In addition, the Company has enough cash on-hand, without accessing the $233 million of availability on its credit facility, to fund all anticipated development costs through 2009. �Given the difficulties some real estate companies are having with refinancing and liquidity, we felt it was important to correct the record on this widely read story,� said Jim Fleming, executive vice president and chief financial officer of Cousins. Cousins will announce its third quarter 2008 earnings on next Wednesday, Nov. 5 and hold its quarterly conference call with analysts and investors at 10 a.m. ET on Thursday, Nov. 6. The number to call for this teleconference is (303) 262-2053. A 14-day playback will begin at 12:00 p.m. Eastern Time on November 6, 2008. To access the playback, please dial (303) 590-3000 and enter the passcode 11120303#. In addition, the replay can be accessed on the Company's Web site, www.cousinsproperties.com through the "Q3 2008 Cousins Properties Incorporated Earnings Conference Call" link on the Investor Relations page, as well as at www.streetevents.com and www.earnings.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 risk. These include, but are not limited to, general and local economic conditions, local real estate conditions (including the overall condition of the residential markets), 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 those described in Part I, Item 1A of 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.