Cousins Increases Stock Repurchase Authorization.

Business Editors

ATLANTA--(BUSINESS WIRE)--Nov. 13, 2001

Cousins Properties Incorporated (NYSE:CUZ) today announced that the Board of Directors has adopted a new plan authorizing the repurchase of up to five million shares of the Company's common stock. The Company may repurchase the shares from time to time in open market transactions and in negotiated and block transactions as market and business conditions warrant on or before December 31, 2003. Based on the closing market price on November 13, 2001, the purchase price for all such shares in the aggregate would be approximately $122 million. The new plan replaces and supersedes the previous stock repurchase plan adopted February 6, 2001, under which the Company repurchased 527,400 shares to date for an aggregate purchase price of approximately $12.5 million.

The Company intends to finance any such repurchases from cash generated from operations, project financing or other borrowings, including borrowings under its credit facilities. The purchases of stock are in part intended to offset dilution resulting from stock and stock option grants made under the Company's officer and director stock plans.

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 13.3 million square feet of office space, 3.1 million square feet of retail space and .9 million square feet of medical office space, and more than 300 acres of strategically located land for future commercial development. 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 on the Company, please visit Cousins' web site at www.cousinsproperties.com.

Certain matters discussed in this news release are forward- looking statements within the meaning of the federal securities laws and are subject to uncertainties and risks, including, but not limited to, general economic conditions, local real estate conditions, interest rates, the Company's ability to obtain favorable financing, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission, including the Form 8-K filed on March 9, 2001. The words "believes," "expects," "estimates" and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are based on current expectations and speak as of the date of such statements. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of future events, new information or otherwise.