Cousins Properties Returns to All-Cash Common Stock Dividend

Cousins Properties Incorporated (NYSE: CUZ) announced today that it has returned to an all-cash dividend, with its Board of Directors declaring a regular quarterly cash dividend of $0.045 per common share, payable February 22, 2011 to common stockholders of record on February 9, 2011. The $0.045 per share quarterly dividend equates to $0.18 on an annualized basis.

Larry Gellerstedt, President and Chief Executive Officer of Cousins, noted, “The Board’s decision to return to an all-cash dividend signals confidence in our operations and balance sheet as well as an improved outlook for Cousins.”

The Board of Directors also declared a regular quarterly cash dividend on its Series A Cumulative Redeemable Preferred Stock. The dividend of $0.484375 per share, or $1.9375 on an annualized basis, is payable February 15, 2011, to Series A preferred stockholders of record on February 1, 2011.

The Board of Directors has also declared a regular quarterly cash dividend on its Series B Cumulative Redeemable Preferred Stock. The dividend of $0.46875 per share, or $1.875 on an annualized basis, is payable February 15, 2011, to Series B preferred stockholders of record on February 1, 2011.

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 and retail development projects. Since its founding in 1958, Cousins has developed 20 million square feet of office space, 20 million square feet of retail space, more than 3,500 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.

This press release does not constitute an offer of any securities for sale. Certain matters discussed in this press release are forward-looking statements within the meaning of the federal securities laws and are subject to uncertainties and risk and actual results may differ materially from projections. Readers should carefully review Cousins’ financial statements and notes thereto, as well as the risk factors described in Part I, Item 1A of the Company’s Annual Report on Form 10-K for the year ended December 31, 2009 and other documents Cousins files from time to time with the Securities and Exchange Commission. Such forward-looking statements are based on current expectations and speak as of the date of such statements. Cousins undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of future events, new information or otherwise.

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