Allied Domecq Spirits & Wine North America Leases 13,800 Square Feet at the Towers at Williams Square in Las Colinas.

Business Editors

IRVING, Texas--(BUSINESS WIRE)--Aug. 25, 2003

Global spirits, wine and restaurant firm opens new

Southern Region Headquarters

Cousins Properties Incorporated (NYSE:CUZ) announced today that Allied Domecq Spirits & Wine North America has executed a new lease for 13,800 square feet in the Central Tower of The Towers at Williams Square in Las Colinas. The Westport, Conn.-based company is locating the headquarters of its new Southern Region division here.

The prestigious Towers at Williams Square, a landmark four-building, 1.4 million-square-foot Class A+ office complex, is widely considered to be in the top tier of Dallas/Fort Worth Metroplex office projects. Located in the heart of the amenity-rich Las Colinas Urban Center, Williams Square is less than 10 minutes from Dallas/Fort Worth International Airport. The property is owned by TIAA Realty, Inc. and leased and managed by Cousins Properties. Williams Square is 90% leased.

"With our high quality buildings and unparalleled access and amenities, Williams Square is perfectly suited for this type of headquarters operation. Allied Domecq's decision to locate here is a great example of this property's appeal to any size corporation," said Mark Dickenson, senior vice president of leasing for Cousins Properties.

"Williams Square has the convenience and image we want for our regional headquarters," said Tex McCarthy, president of Allied Domecq Spirits & Wine North America. "The building's quality and proximity to Dallas/Fort Worth International Airport were key factors in our decision to locate here."

Mark Dickenson represented the landlord. Perry Jones, vice president and Jerry Reis, president of Property Advisers Realty, represented Allied Domecq.

Allied Domecq Spirits & Wine North America

Allied Domecq Spirits & Wine North America is a Westport, Connecticut-based division of Allied Domecq PLC, with regional offices across the U.S. Allied Domecq is a marketing-driven brands business that operates globally in spirits and wine and quick-service restaurants. Allied Domecq's leading North American brands include Kahlua, Stolichnaya Vodkas, Sauza Tequilas, Beefeater, Malibu flavored rum, Canadian Club, Courvoisier, Maker's Mark, Midori, Hiram Walker Liqueurs, Buena Vista, Williams Hill Wines, Clos Du Bois, Atlas Peak, Dunkin' Donuts, Baskin-Robbins and Togo's. Allied Domecq Spirits & Wine North America's vision is to be the first-choice supplier in the hearts and minds of its customers, consumers and employees. For more information, please visit www.allieddomecq.com.

TIAA Realty, Inc.

TIAA Realty, Inc. is a wholly owned subsidiary of Teachers Insurance and Annuity Association. Teachers Insurance and Annuity Association is a part of TIAA-CREF, one of America's leading financial services organizations. With over $274 billion in assets under management, TIAA-CREF manages one of the world's largest retirement systems, covering more than two million individuals at over 11,000 U.S. colleges, universities and related education and research organizations. It also serves the general public by offering high-quality, low-cost mutual funds, annuities, IRAs, insurance, trust services and state-sponsored college savings programs. TIAA is the third-largest U.S. life insurance company; CREF is one of the nation's largest variable annuity providers. For more information, please visit www.tiaacref.com.

Cousins Properties Incorporated

Cousins Properties Incorporated, headquartered in Atlanta, has extensive experience in the real estate industry, including the development, acquisition, financing, management and leasing of properties. The property types that Cousins actively invests in include office, retail, medical office and land development projects. The Company's portfolio consists of interests in 13.9 million square feet of office and medical office space, 2.7 million square feet of retail space and more than 300 acres of strategically located land for future commercial development. Cousins also provides leasing and management services to third-party investors; its client-services portfolio comprises 6.3 million square feet of office space. Cousins is a fully integrated equity real estate investment trust (REIT) that has been public since 1962 and trades on the New York Stock Exchange under the symbol "CUZ. For more information, please visit www.cousinsproperties.com.