Cohen & Steers Advantage Income Realty Fund Announces Issuance of $65 Million in Auction Market Preferred Shares NEW YORK, Nov. 19 /PRNewswire-FirstCall/ -- Cohen & Steers Advantage Income Realty Fund, Inc. -- a non-diversified, closed-end investment management company whose common shares trade on the New York Stock Exchange under the symbol "RLF" -- issued today a total of $65 million in auction market preferred shares (AMPS). Including the sale of the new shares, the fund's managed assets are approximately $855 million. The fund is a closed-end management investment company with an investment objective of high current income through investment in real estate securities. Capital appreciation is a secondary investment objective. Cohen & Steers Capital Management, Inc., which serves as the fund's investment manager, is a wholly owned subsidiary of Cohen & Steers, Inc., a publicly traded company whose common stock is listed on the New York Stock Exchange under the symbol "CNS." The underwriters for the AMPS are Merrill Lynch, Pierce, Fenner & Smith Incorporated; Citgroup Global Markets Inc.; UBS Securities LLC; Wachovia Capital Markets, LLC; and A.G. Edwards & Sons, Inc. The auction agent is The Bank of New York. The fund's AMPS are rated "Aaa" by Moody's Investors Service, Inc. and "AAA" by Standard & Poor's Ratings Services. Investors may participate in the auctions through participating broker-dealers. To request a free prospectus containing more complete information about the fund, including charges, expenses and risks, call 1-800-330-7348. Please consider the investment objective, risks, and charges and expenses of the fund and read the prospectus carefully before investing. (CNS DATASOURCE: Cohen & Steers Advantage Income Realty Fund, Inc. CONTACT: John McCombe, executive vice president and director of marketing of Cohen & Steers, +1-212-832-3232 Web site: http://www.cohenandsteers.com/

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