NEW YORK, March 14 /PRNewswire-FirstCall/ -- Cohen & Steers Realty Shares, Inc. (NASDAQ Symbol CSRSX, Cusip No. 192476109) today announced that in the future, dividends will be declared and paid at the end of each quarter based upon the fund's net investment income for that quarter. As a result, dividend levels may fluctuate from quarter to quarter based upon portfolio holdings and prevailing market conditions. For the current quarter, the fund estimates it will pay a dividend of $0.50 per share*. The actual dividend will be declared and paid on March 30, 2007 to shareholders of record on March 29, 2007, with an ex-dividend date of March 30, 2007. * This estimate is for informational purposes only and should not be relied upon to make an investment decision to purchase, redeem or maintain shares of the fund. While the estimate has been determined in good faith and is reasonably based upon information the fund believes to be reliable and accurate, there is no guarantee the actual dividend will be equal to the amount estimated. Please note that the distributions paid by the fund to shareholders are subject to recharacterization for tax purposes. The final tax treatment of these distributions is reported to shareholders on their 1099-DIV forms, which are mailed to shareholders after the close of each fiscal year. DATASOURCE: Cohen & Steers Institutional Realty Shares, Inc. CONTACT: John J. McCombe, executive vice president, Cohen & Steers Capital Management, Inc., +1-212-832-3232 Web site: http://www.cohenandsteers.com/

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