Cousins Signs 48,000-Square-Foot Lease at Congress at Fourth.

Business Editors

ATLANTA--(BUSINESS WIRE)--Jan. 7, 2003

Prominent Austin Law Firm to Relocate to Cousins'

Marquee Office Development

Cousins Properties (NYSE:CUZ) announced today that it has signed a lease with the law firm of Graves, Dougherty, Hearon & Moody, PC to occupy 48,000 square feet at Congress at Fourth, the 525,000-square-foot Class "A" office tower which Cousins is currently constructing in Austin, Texas. The 33-story tower will be located on 1.7 acres at the northeast corner of Fourth Street and Congress Avenue in the Central Business District of Austin. Designed to provide a clearly recognizable symbol in the skyline of Austin through its segmented pyramidal form, Congress at Fourth will provide many amenities including an urban plaza, a signature restaurant, retail services and a 1,500-space parking garage.

Graves, Dougherty, Hearon & Moody is a prominent Austin business law firm representing clients on a full-service basis. Its large diversified practice serves national and local businesses, institutions, local governments and prominent individuals in Austin and around the nation. Graves, Dougherty is home to more than 50 attorneys providing counsel to clients through more than 25 practice areas including corporate, litigation, real estate and trusts and estates.

Craig Jones, president of Cousins' Office Division, stated, "With its prominence in the Austin business community, Graves, Dougherty is a significant endorsement of the growing reputation that Congress at Fourth is garnering as the preeminent address in the Austin CBD. We are pleased that Graves, Dougherty has chosen to relocate their Austin offices to our new project."

Tim Hendricks, senior vice president of development of Cousins Properties, added, "When we commenced Congress at Fourth a year ago, we stated the long-term economic climate in Austin was favorable for a new Class "A" office development. The response we have received from local businesses and national firms seeking to establish a presence in Austin affirms the vision we have for this project. We also look forward to announcing several additional new leases in the coming weeks as we prepare for Congress at Fourth's opening in the fourth quarter of this year." Mike McKetta, president of Graves, Dougherty, said, "Having served our clients from our downtown Austin offices since 1946, Graves, Dougherty is delighted to announce with Cousins that our new offices will be in Austin's premier landmark building for the decades to come."

Michael Brown, leasing associate for Cousins, represented the landlord. Pat Herron and Carl Williams, principals for Herron Williams, represented Graves, Dougherty.

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, 3.3 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 also provides leasing and management services to third-party investors; its client-services portfolio comprises 6.1 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.