CUZ Cousins Properties Inc

Cousins Properties Incorporated (NYSE: CUZ) announced today that Joel Murphy is retiring from the Company, effective December 31, 2008. Murphy has been with Cousins for 20 years and is currently executive vice president and chief leasing and asset management officer, where he has responsibility for the combined office and retail leasing and asset management teams and the Company�s third-party services group. Murphy previously served for 12 years as senior vice president and president of the Company�s Retail Division. He has agreed to serve as a consultant to the Company after January 1, 2009. �Over the years, Joel has helped Cousins become a leader in retail development. His presence and influence will be missed,� said Tom Bell, chairman and CEO of Cousins. �We sincerely appreciate his two decades of service and the great contributions he has made to our company. We are pleased Joel has agreed to consult with us after the first of the year and wish him the best as he embarks on this next phase of his career.� During his time with Cousins, Murphy played a critical role in the Company�s retail development success, most notably in the creation and growth of the Company�s award-winning Avenue� concept retail centers. The Avenue, which was introduced in 1998, brings together national retailers, specialty shops and local restaurants together in a unique outdoor setting. The Company has now developed nine Avenue centers in four states. �I have greatly enjoyed my long association with Cousins Properties. After 20 years, I feel it is time for me to step back and explore the possibilities that lie ahead for the remainder of my professional career,� Murphy said. �Cousins has a talented and deep management team in place with my group and the Company and I have the greatest confidence in their continued success.� 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 (including the current general recession and state of the credit markets), 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.