Cousins Opens The Avenue West Cobb at 87 Percent Leased; Project's Success Sets New Leasing Milestone for Cousins' Signature Retail Concept.

Business Editors

ATLANTA--(BUSINESS WIRE)--Oct. 1, 2003

Cousins Properties Incorporated (NYSE: CUZ) announced today that The Avenue West Cobb, a 206,000-square-foot specialty retail center in suburban Atlanta, enters its grand opening weekend, Oct. 3-5, at 87 percent leased. Construction began on the $38 million project, located at Dallas Highway (Georgia 120) and Due West Road, in September 2002.

"Retailer interest has been excellent since we first started working on this project in 2001. Reaching 87 percent leased - with retailer commitments to put us over 90 percent - prior to opening exceeds our already high expectations," said Joel Murphy, president of Cousins' Retail Division. "I think the success says much about the growing acceptance of our Avenue concept, the new ways retailers are approaching their customers, and most of all, about the quality of the West Cobb community and its residents."

Noted for its pedestrian-friendly nature, extensive landscaping and distinctive architecture, The Avenue places traditional mall merchants in upscale, open-air centers alongside select local merchants and specialty restaurants. The Avenue West Cobb is Cousins' fourth Avenue project, following: The Avenue East Cobb, a 225,000-square-foot center in suburban Atlanta; The Avenue of the Peninsula, a 374,000-square-foot project in Rolling Hill Estates, California, and The Avenue Peachtree City, a 169,000-square-foot project, also in suburban Atlanta.

To date, more than 30 retailers have signed on at The Avenue West Cobb, including American Eagle Outfitters, Ann Taylor Loft, true - an Aveda Lifestyle Salon, Barnes & Noble, Bombay, Bombay Kids, Cargo Kid's, Chico's, Claire's, Cold Stone Creamery, Coldwater Creek, EB Games, Famous Footwear, Jos. A. Bank, Kay Jewelers, Kirkland's, Lane Bryant, Limited Too, Linens 'N Things, Liz Claiborne Shoes, Pier 1 Imports, Portrait Innovations, Strasburg Children, Swoozie's, Talbots, The Great Frame Up, White House/Black Market, Wolf Camera, Ted's Montana Grill, The Beaded Lizard, LensCrafters, Aspen's Signature Steaks, Theo's Bros. Bakery, and Romano's Macaroni Grill.

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, 2.1 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.