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Cousins Properties Launches Terminus: Atlanta's New Destination

ATLANTA (May 9, 2005)--Following the tradition of creating some of the southeast's most significant real estate projects, Cousins Properties Incorporated (NYSE: CUZ) will break ground today on its newest and one of its most ambitious developments. Terminus will encompass 9.9 acres in the Buckhead district of Atlanta. Celebrating the intersection of two of the city's greatest roads--Peachtree and Piedmont, this collection of office, residential, retail, and hotel will alter the landscape of Buckhead and redefine the center of the Buckhead business district.

The name Terminus evolved from Atlanta's historic origins. As covered wagons gave way to railroads, Southeast commerce and society converged to form the burgeoning town of Terminus. This location emerged as a culture of new ideas, opportunities and vision. In subsequent years, the name changed to Atlanta, but the vision continued to thrive. The name Terminus pays homage to Atlanta's heritage of spirit and ambition while creating a new destination for its future.

The first phase of Terminus will be completed in the spring of 2007. Designed by renowned architect Turan Duda of Duda-Paine Architects, the office building will contain approximately 532,000 square feet of office space and more than 65,000 square feet of restaurant and street-level retail space, for a total of more than 600,000 square feet in the first phase of development.

The building will serve as the southeast headquarters for CB Richard Ellis and the Atlanta headquarters of Bain & Company. Cousins Properties will also relocate its corporate headquarters to Terminus. The master plan for the project includes an additional 500,000-square-foot office building, additional street-level retail space and up to 800 additional residential units.

"Terminus is another important milestone for Atlanta and for Cousins Properties," said Tom Bell, president and CEO of Cousins Properties. Other office developments of the company in Atlanta include the OMNI, Wildwood Office Park, Bank of America Plaza (Atlanta's tallest office building) and The Pinnacle in Buckhead.

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, industrial and land development projects. The Company's portfolio consists of interests in 7.2 million square feet of office and medical office space, 3.1 million square feet of retail space, over 3,000 acres of strategically located land tracts for sale or future development, and significant land holdings for development of single family residential communities. Cousins also provides leasing and management services to third-party investors; its client-services portfolio comprises 10.6 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 on the Company, please visit Cousins' Web site at www.cousinsproperties.com.

Certain matters discussed in this news release are forward-looking statements within the meaning of the federal securities laws and are subject to uncertainties and risks, including, but not limited to, general and local economic conditions, local real estate conditions, the activity of others developing competitive projects, the cyclical nature of the real estate industry, the financial condition of existing tenants, interest rates, the Company's ability to obtain favorable financing or zoning, environmental matters, the effects of terrorism, the failure of assets under contract for sale to ultimately close and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission, including the Company's Current Report on Form 8-K filed on December 10, 2003. The words "believes", "expects", "anticipates", "estimates" and similar expressions are intended to identify forward-looking statements. Although the Company believes that its plans, intentions and expectations reflected in any forward-looking statement are reasonable, the Company can give no assurance that these plans, intentions or expectations will be achieved. Such forward-looking statements are based on current expectations and speak as of the date of such statements. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of future events, new information
or otherwise.