NEW YORK, May 5 /PRNewswire-FirstCall/ -- Cohen & Steers Realty Shares (NASDAQ:CSRSX) has received a 2007 Lipper Performance Achievement Certificate. The fund ranks number one in the Lipper Equity Fund Performance Analysis Service for the 15-year period ended December 31, 2007 in the Real Estate Fund category. "As managers of one of the first real estate mutual funds, we are pleased that Lipper has acknowledged the fund's top performance over an extended period," said Martin Cohen, co-chairman and co-chief executive of Cohen & Steers. "We believe this industry-leading performance has been achieved by staying true to our basic investment disciplines." Jon Cheigh, a co-portfolio manager of the fund, added that "Our strategy focuses on capital appreciation and current income. We use a proprietary valuation methodology to select stocks with the potential to achieve attractive total return." This is the fourth consecutive year that Lipper has recognized one of Cohen & Steers' funds. Cohen & Steers Realty Shares Total Returns Average annual returns as of 3/31/08 Cohen & Steers NAREIT Equity Period Realty Shares REIT Index S&P 500 Index 1 Year -18.77% -17.37% -5.08% 5 Years 20.00% 18.33% 11.32% 10 Years 11.38% 10.69% 3.51% 15 Years 12.38% 11.66% 9.46% Since inception (7/2/91) 14.05% 13.29% 9.99% Performance data quoted represent past performance, which is no guarantee of future results. The investment return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. Total returns for the fund, current to the most recent month-end, can be obtained by visiting http://www.cohenandsteers.com/. The performance data quoted include change in net asset value and reinvestment of dividends and capital gains. The fund seeks maximum total return through both current income and capital appreciation by investing in real estate securities, primarily real estate investment trusts, which are commonly referred to as REITs. Additional information about the fund, or any of the company's open or closed-end funds, can be found at the company's Web site, http://www.cohenandsteers.com/. The NAREIT Equity Index is an unmanaged, market capitalization weighted index of all publicly traded Equity REITs that have 75% or more of their gross invested book assets invested directly or indirectly in the equity ownership of real estate. The S&P 500 is an unmanaged index of 500 large capitalization companies representing a variety of industries. About Cohen & Steers Cohen & Steers Capital Management, Inc. is a manager of income-oriented equity portfolios specializing in U.S. and international real estate securities, large cap value stocks, utilities and listed infrastructure securities, and preferred securities. The company also offers alternative investment strategies, such as long-short real estate securities portfolios and private real estate fund of funds product strategies. Headquartered in New York City, with offices in Brussels, Hong Kong, London and Seattle, Cohen & Steers serves individual and institutional investors through open-end mutual funds, closed-end funds, sub-advised portfolios and institutional separate accounts. Cohen & Steers Capital Advisors, LLC, a subsidiary, provides investment banking services. Please consider the fund's investment objective, risks, charges and expenses carefully before investing. This and other information may be obtained by calling 800-330-7348 or visiting cohenandsteers.com and requesting a prospectus. Please read the prospectus carefully before investing. Cohen & Steers Realty Shares, Inc. Lipper, an expert in fund research and evaluation, rates funds against their peers according to performance measures. Lipper's Performance Achievement Certificates are awarded to funds with returns that rank first in their Lipper category over one or more time periods: one, five, 10 or 15 years (depending on universe). Certificates are awarded for all Lipper Classifications and for the overall fund universe. Open-end funds, closed end funds and variable underlying products are considered for awards. Awards are based upon cumulative total return. For periods ended December 31, 2007, Lipper ranked the fund as follows within the Real Estate Funds category: 263 out of 309 funds for the one-year period; 31 out of 158 funds for the five year period; 19 out of 64 funds for the ten-year period; and 1 out of 6 funds for the fifteen-year period. Investors are cautioned that some peer groups are inherently more volatile than others, and even top rated Lipper funds in the most volatile groups may not be well suited to shorter-term goals or less risk-tolerant investors. Because the fund concentrates its investments in real estate securities, there are special risks associated with investing in the fund. These include falling property values due to increasing vacancies or declining rents resulting from economic, legal, or technological developments. As a non-diversified fund, the fund may be subject to greater risk of loss than a more diversified portfolio. The fund's expense ratio is currently 0.95%. DATASOURCE: Cohen & Steers Realty Shares CONTACT: Cohen & Steers, +1-212-832-3232 Web site: http://www.cohenandsteers.com/

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