Cohen & Steers Closed-End Mutual Funds Announce Projected Capital Gain Distributions NEW YORK, Dec. 2 /PRNewswire-FirstCall/ -- Cohen & Steers Capital Management, Inc., the investment adviser to each of the closed-end Cohen & Steers mutual funds, announced projected capital gain distributions for 2004 as follows: Cohen & Steers Total Return Realty Fund, Inc. (NYSE:RFI) $0.15 - $0.25 per share Cohen & Steers Advantage Income Realty Fund, Inc. (NYSE:RLF) $0.04 - $0.14 per share Cohen & Steers Quality Income Realty Fund, Inc. (NYSE:RQI) $0.08 - $0.18 per share Cohen & Steers Premium Income Realty Fund, Inc. (NYSE:RPF) $0.36 - $0.46 per share Cohen & Steers REIT and Preferred Income Fund, Inc. (NYSE:RNP) $0.10 - $0.20 per share Cohen & Steers REIT and Utility Income Fund, Inc. (NYSE:RTU) and Cohen & Steers Select Utility Fund, Inc. (NYSE:UTF) are not expected to declare capital gain distributions for 2004. The numbers identified above represent estimates and are subject to change based on portfolio, market and shareholder activity and tax adjustments. The list of funds not expected to pay capital gain distributions is also a projection and is subject to change. Actual capital gain distributions will appear on shareholders' 1099-DIV forms, which will be mailed in January 2005. You should also remember that the net asset value of a fund with a capital gain distribution will decline on the "ex-dividend" date to reflect the adjusted net asset value of the portfolio after the distribution, in addition to any effect the market's performance had on the securities within the fund's portfolio on that day. All capital gains distributions are divided equally among share classes. Capital gains distributions do not affect the overall performance of an investment in a fund. If you own funds in a retirement plan or any type of IRA you will not owe any current taxes on those distributions. Income may be subject to state and local taxes as well as the alternative minimum tax. Cohen & Steers Capital Management, Inc. 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." DATASOURCE: Cohen & Steers Capital Management, Inc. CONTACT: Lawrence B. Stoller, senior vice president and general counsel of Cohen & Steers Capital Management, Inc., +1-212-832-3232, cohenandsteers.com Web site: http://www.cohenandsteers.com/ x

Copyright