Cousins Properties Declares Fourth Quarter Preferred Stock Dividend.

Business Editors

ATLANTA--(BUSINESS WIRE)--Oct. 15, 2003

Cousins Properties Incorporated (NYSE:CUZ) today announced that its Board of Directors has declared the first dividend on its Series A Cumulative Redeemable Preferred Stock, which was issued July 24, 2003. The dividend, which covers the period from issuance, is approximately $0.5974 per share, or $1.9375 on an annualized basis, and is payable Nov. 17, 2003, to preferred stockholders of record on Nov. 3, 2003.

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.