Cousins Opens Curtain on Fox Plaza; First Phase of Midtown Mixed-Use Project Slated to be 30-story High-Rise Condominium.

ATLANTA -- Cousins Properties Incorporated (NYSE:CUZ) announced today plans for Fox Plaza, a planned 2.4-acre multi-phase mixed-use community bounded by Ponce de Leon Avenue, Juniper Street, North Avenue and Peachtree Street in Midtown Atlanta. The Company also announced today plans for the first phase of Fox Plaza - a 30-story, 210-unit high-rise condominium tower called The Premiere at Fox Plaza. Slated for the southwest corner of Ponce de Leon Avenue and Juniper Street, The Premiere is expected to include more than 20,000 square feet of street-level retail including a 5,000-square-foot signature restaurant at the corner of North Avenue and Juniper Street. The building will feature one-, two- and three-bedroom units, as well as penthouse units, with expected pricing starting from the low $300,000s.

In addition to The Premiere, Fox Plaza will contain another significant building including some combination of office, hotel, residential or retail uses facing Peachtree Street. Plans for that site - currently home to a 1950s-era, 12-story office building - are still in development.

"This part of Atlanta is rife with landmarks, from the Fabulous Fox Theatre to The Ponce condominium building and The Georgian Terrace Hotel. We think Fox Plaza will complement the historic nature of the area, bringing some modern touches that will ultimately foster an even stronger sense of community at the entrance to Midtown," said Tom Bell, president and CEO of Cousins.

"Like our Terminus project in Buckhead, Fox Plaza gives Cousins an opportunity to develop a great urban place, bringing a mix of uses and creating a more vibrant streetscape," said Larry Gellerstedt, president of Cousins' Office/Multi-family Division. "With The Premiere, a landmark restaurant and the project's promising second phase, it's easy to get excited about Fox Plaza's potential."

"We welcome the addition of Cousins' Fox Plaza to the neighborhood. A project like this can only further enhance the Fox Theatre Historic District and all of Midtown," said Ed Neiss, general manager for the Fox Theatre. "In addition to becoming yet another catalyst for growth and stability in the area, Fox Plaza's proximity to our theatre will also make a theatre- and concert-going lifestyle possible for its residents."

Demolition of the existing structures on the site, which include a 12-story office building, parking deck and drive-through bank, will begin immediately. Construction on The Premiere is expected to begin this fall with completion expected in mid 2008. Those interested in units should visit www.premierefoxplaza.com.

The Premiere at Fox Plaza is Cousins' second condominium project in Midtown, following the successful opening of 905 Juniper earlier this spring. Situated at the corner of Juniper and Eighth streets, all but three of that building's 93 units are sold.

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, multi-family, retail, industrial and land development projects. The Company's portfolio consists of interests in 7.4 million square feet of office space, 3.8 million square feet of retail space, 0.8 million square feet of industrial space, two multi-family residential projects, over 9,000 acres of strategically located land tracts for sale or future development, and significant land holdings for development of single-family residential communities. Cousins also provides leasing and management services to third-party investors; its client-services portfolio comprises 12.7 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 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 and local economic conditions, local real estate conditions, the activity of others developing competitive projects, the cyclical nature of the real estate industry, the financial condition of existing tenants, interest rates, the Company's ability to obtain favorable financing or zoning, environmental matters, the effects of terrorism, the failure of assets under contract for sale to ultimately close and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission, including the Company's Report on Form 10-K for the year ended December 31, 2005. The words "believes," "expects," "anticipates," "estimates" and similar expressions are intended to identify forward-looking statements. Although the Company believes that its plans, intentions and expectations reflected in any forward-looking statement are reasonable, the Company can give no assurance that these plans, intentions or expectations will be achieved. 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.