C&S fund IPO raises $300m.

Cohen & Steers Capital Management, Inc. announced that Cohen & Steers Worldwide Realty Income Fund, Inc. has completed the pricing of its initial public offering, and will issue 15 million shares at $20 per share raising a total of approximately $300 million in assets.

The amount raised could be increased to approximately $345 million (before deduction of the sales charge) assuming full exercise of the underwriters' over-allotment, which may not occur.

The fund's shares began trading on March 29, 2005 on the New York Stock Exchange under the symbol "RWF."

The fund's primary investment objective is high current income. Capital appreciation is a secondary objective.

The fund will seek to achieve its investment objectives by investing primarily in a portfolio of global real estate equity securities. The fund anticipates issuing auction rate preferred shares that, if completed at anticipated levels, would bring the managed assets of the fund to more than $500 million (assuming full exercise of the underwriters' over-allotment, which may not occur).

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."

Houlihan Rovers S.A., which serves as the fund's subadvisor, is a Belgium-based global real estate securities manager.

Cohen & Steers owns 50% of the capital stock of Houlihan Rovers.

UBS Securities LLC is the lead underwriter of a syndicate that includes Merrill Lynch, Pierce Fenner & Smith Incorporated.