Cousins Starts Major Medical Office Project in North Atlanta.

ATLANTA--(BUSINESS WIRE)--June 30, 1998--Cousins Properties Incorporated (NYSE:CUZ), one of the largest diversified real estate companies in the U.S., today announced that its medical office division, Cousins/Richmond, has initiated a multi-phased medical office project on the 38-acre Northside/Alpharetta Medical Campus in the north Atlanta suburbs. The $37 million project includes the acquisition of two medical facilities totaling 106,000 square feet and the development of a 200,000-square-foot medical facility. The master plan for the property includes three additional phases.

Phase I includes the acquisition of a 100,000-square-foot medical office building and a 6,000-square-foot cancer center. These facilities, which were acquired in mid-June for approximately $16 million, are 100% leased and include both medical practices and outpatient services affiliated with Northside Hospital. Specifically, the medical practices include Family Practice, Internal Medicine, Pediatrics, OB/GYN and a number of specialty practices. Outpatient services include surgery, imaging, lab testing, pharmacy, cancer treatment, pain treatment, infusion therapy, home care, rehabilitation, occupational health, gastrointestinal endoscopy, lactation counseling and women's wellness.

Phase II, for which groundbreaking is scheduled for June 30, 1998, consists of a 200,000-square-foot medical office and outpatient facility. This facility is 40% pre-leased with letters of intent for an additional 15% of the space. This building is expected to be delivered in May 1999. The projects are located near Georgia Highway 400 at the southwest corner of Preston Ridge Office Park in Alpharetta, Georgia.

Lea Richmond III, president of the medical office division of Cousins, stated, "We're pleased to announce these new projects on the Northside/Alpharetta Medical Campus. Last year we formed a strategic alliance with Northside Hospital to combine the development experience and financial capacity of Cousins with the health care expertise of Northside Hospital. We believe this alliance will permit the development of appropriate medical office facilities which will help meet the growing demand in the health care industry for services near the communities being served. The buildings we are announcing today achieve our respective goals and further solidify our relationship with Northside Hospital. We currently are planning other projects with Northside throughout the northern suburbs of Atlanta.

"This strategic alliance is prototypical of the relationships we are building with other major health care institutions throughout the Southeast which allow them to focus their capital and resources on the delivery of health care and allow us to handle their real estate needs."

An affiliate of Northside Hospital also will occupy a major block of space in Cousins' Meridian Mark Plaza, a 160,000-square-foot Class "A" medical office building scheduled to open in the fall of 1998. The site is strategically located at the corner of Peachtree-Dunwoody Road and the Glenridge Connector, adjacent to Northside Hospital, Saint Joseph's Hospital and Scottish Rite Children's Medical Center.

Northside Hospital is a 455-bed, not-for-profit community hospital with more than 1,450 physicians on staff. Northside physicians and staff provide a full range of care, including women's services, emergency care, surgery, cancer care, outpatient and behavioral services. Renowned for its expertise in surgery, Northside specialists perform more than 25,000 surgeries annually. Ranked first in the nation among community hospitals in the number of babies delivered, Northside Hospital offers a comfortable, family atmosphere while providing the most sophisticated, high-risk capabilities for a healthy mother and baby.

Cousins Properties Incorporated is one of the largest diversified real estate development companies in the U.S. Based in Atlanta, the Company 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 more than 8.2 million square feet of office space, 3.2 million square feet of retail space and .2 million square feet of medical office space and over 400 acres of land for future development. 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."

    CONTACT:  Cousins Properties Inc., Atlanta
               George T. Olmstead Jr., 770/857-2507
               or
               Lisa R. Simmons, 770/857-2548
               Web Site Address: www.cousins-cuz.com