Cousins Selected to Manage and Lease 511 Carpenter in Las Colinas; Selection brings Cousins' Third Party Management and Leasing Portfolio to 6.3 Million Square Feet.

Business Editors

IRVING, Texas--(BUSINESS WIRE)--Aug. 18, 2003

Cousins Properties Incorporated (NYSE:CUZ) announced today that it has been selected to lease and manage 511 Carpenter, a 7-story, 161,400-square-foot Class A office building in the Las Colinas Urban Center in Irving, Texas. The new assignment brings Cousins' third party leasing and management portfolio to 6.3 million square feet, including 3.9 million square feet in the Dallas-Ft. Worth Metroplex. Cousins' relationship with 511 Carpenter owner Northwestern Mutual now includes two buildings totaling 422,000 square feet.

"Our experience with Cousins has been outstanding, most notably on the lease up of another Las Colinas property, 6565 MacArthur at Sierra. We're happy to extend this successful relationship and know that Cousins will do a superior job of representing us and our property," said Henry Lange, regional director for Northwestern Mutual.

Mark Dickenson, senior vice president of leasing for Cousins, said, "This assignment is a large vote of confidence by Northwestern Mutual, not only in our leasing team but also our award-winning management staff."

Las Colinas Urban Center is the 960-acre high-density, mixed-use core of Las Colinas, the 12,000-acre master-planned business and residential community adjacent to Dallas/Fort Worth International Airport.

Northwestern Mutual, the nation's largest direct provider of individual life insurance according to A. M. Best, has always received the highest possible ratings for financial strength from Standard & Poor's, Moody's, Fitch, and A. M. Best. Fortune magazine has voted Northwestern Mutual "Most Admired" in its industry for 20 years, and ranked it one of the "100 Best Companies to Work For." The company, its subsidiaries and affiliates are providers of annuities, mutual funds, long-term care insurance and disability income insurance. These products and services are distributed through the Northwestern Mutual Financial Network and its 7,900 financial representatives. Among its affiliated companies are the Frank Russell Company, the investment management and advisory firm; Northwestern Mutual Investment Services, LLC (NMIS), the securities brokerage firm; and Northwestern Mutual Trust Company, a special purpose federal savings bank. Further information on Northwestern Mutual, based in Milwaukee, Wisconsin, can be found at: www.nmfn.com.

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, 2.7 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.