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<SEC-DOCUMENT>0000950123-09-043884.txt : 20090917
<SEC-HEADER>0000950123-09-043884.hdr.sgml : 20090917
<ACCEPTANCE-DATETIME>20090917165355
ACCESSION NUMBER:		0000950123-09-043884
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		6
CONFORMED PERIOD OF REPORT:	20090915
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20090917
DATE AS OF CHANGE:		20090917

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			COUSINS PROPERTIES INC
		CENTRAL INDEX KEY:			0000025232
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				580869052
		STATE OF INCORPORATION:			GA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11312
		FILM NUMBER:		091074902

	BUSINESS ADDRESS:	
		STREET 1:		191 PEACHTREE STREET N.E.
		STREET 2:		SUITE 3600
		CITY:			ATLANTA
		STATE:			GA
		ZIP:			30303-1740
		BUSINESS PHONE:		404-407-1000

	MAIL ADDRESS:	
		STREET 1:		191 PEACHTREE STREET N.E.
		STREET 2:		SUITE 3600
		CITY:			ATLANTA
		STATE:			GA
		ZIP:			30303-1740
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>g20533e8vk.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML>
<HEAD>
<TITLE>FORM 8-K</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>WASHINGTON, D.C. 20549</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>____________</B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM 8-K</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>CURRENT REPORT</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PURSUANT TO SECTION 13 OR 15(d) OF THE<BR>
SECURITIES EXCHANGE ACT OF 1934</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">Date of Report (Date of earliest event reported): <U>September&nbsp;15, 2009 </U>
</DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B><U>Cousins Properties Incorporated</U></B>
</DIV>

<DIV align="center" style="font-size: 10pt">(Exact name of registrant as specified in its charter)</DIV>



<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U>Georgia</U><BR>
(State or other jurisdiction of incorporation)
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U>001-11312</U><BR>
(Commission File Number)
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U>58-0869052</U><BR>
(IRS Employer Identification Number)
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U>191 Peachtree Street NE, Suite&nbsp;3600, Atlanta, Georgia 30303-1740</U><BR>
(Address of principal executive offices)
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">Registrant&#146;s telephone number, including area code: (<U>404) 407-1000</U>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U>Not applicable</U><BR>
(Former Name or Former Address, if Changed Since Last Report)
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions (<I>see </I>General Instruction
A.2. below):
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="95%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT face="Wingdings">&#111;</FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT face="Wingdings">&#111;</FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT face="Wingdings">&#111;</FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT face="Wingdings">&#111;</FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>





<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Item&nbsp;1.01.</B></TD>
    <TD>&nbsp;</TD>
    <TD><B>Entry into a Material Definitive Agreement.</B></TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On September&nbsp;15, 2009, Cousins Properties Incorporated (the &#147;Company&#148;) entered into an
underwriting agreement (the &#147;Agreement&#148;) with Merrill Lynch, Pierce, Fenner &#038; Smith Incorporated,
Morgan Stanley &#038; Co. Incorporated and J.P. Morgan Securities Inc., as representatives of the
several underwriters named in Schedule&nbsp;A to the Agreement (the &#147;Underwriters&#148;). Pursuant to the
terms and conditions of the Agreement, the Company agreed to sell 40,000,000 shares of common
stock, par value $1.00 per share, at a price to the public of $7.25&nbsp;per share. In addition, the Company granted the Underwriters a
30-day option to purchase up to 6,000,000 additional shares of common stock to cover
overallotments, which was exercised in full by the Underwriters on September&nbsp;16, 2009.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company agreed to indemnify the Underwriters against certain specified
types of liabilities, including liabilities under the Securities Act of 1933, and to contribute to
payments the Underwriters may be required to make in respect of these liabilities. In the ordinary
course of business the Underwriters or their respective affiliates have engaged and may in the
future engage in various financing, commercial banking and investment banking services with, and
provide financial advisory services to, the Company and its affiliates for which they have received
or may receive customary fees and expenses. Subject to customary closing conditions, the offering
contemplated by the Agreement (including the exercise of the full
overallotment option) is expected to
close on or about September&nbsp;21, 2009.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The shares of common stock were offered pursuant to the Company&#146;s shelf registration
statement on Form S-3 (File No.&nbsp;333-158234). A copy of the Agreement is attached hereto as Exhibit
1.1, and the description of the material terms of the Agreement in this Item&nbsp;1.01 is qualified in
its entirety by reference to such exhibit, which is incorporated herein by reference.
</DIV>

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Item&nbsp;7.01.</B></TD>
    <TD>&nbsp;</TD>
    <TD><B>Regulation&nbsp;FD Disclosure.</B></TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A copy of the press releases announcing the pricing of the common stock offering is furnished
as Exhibit&nbsp;99.1 to this Current Report on Form 8-K.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The information included in this Current Report on Form 8-K under this Item&nbsp;7.01 (including
Exhibit&nbsp;99.1) shall not be deemed &#147;filed&#148; for the purposes of Section&nbsp;18 of the Securities Exchange
Act of 1934, as amended (the &#147;Exchange Act&#148;), or otherwise subject to the liabilities of that
section, nor shall it be deemed incorporated by reference into any filing made by the Company under
the Exchange Act or Securities Act of 1933, as amended, except as shall be expressly set forth by
specific reference in such a filing.
</DIV>

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Item&nbsp;9.01.</B></TD>
    <TD>&nbsp;</TD>
    <TD><B>Financial Statements and Exhibits.</B></TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">(d)&nbsp;Exhibits
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The following exhibits are filed herewith:
</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="7%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="90%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 0px solid #000000">Exhibit No.</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 0px solid #000000">Description</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">1.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Underwriting Agreement dated September&nbsp;15, 2009, by and among Cousins Properties
Incorporated, Merrill Lynch, Pierce, Fenner &#038; Smith Incorporated, Morgan Stanley &#038; Co.
Incorporated and J.P. Morgan Securities Inc., as representatives of the several underwriters.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">5.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion of King &#038; Spalding LLP regarding legality of shares.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of King &#038; Spalding LLP (included in Exhibit&nbsp;5.1).</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Cousins Properties Incorporated Press Release, dated September&nbsp;15, 2009.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->2<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U>Signatures</U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly
caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Date:
September&nbsp;17, 2009
</DIV>


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">COUSINS PROPERTIES INCORPORATED<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Robert M. Jackson
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Robert M. Jackson&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Senior Vice President, General Counsel and<br>
Corporate Secretary&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->3<!-- /Folio -->
</DIV>




</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-1.1
<SEQUENCE>2
<FILENAME>g20533exv1w1.htm
<DESCRIPTION>EX-1.1
<TEXT>
<HTML>
<HEAD>
<TITLE>EX-1.1</TITLE>
</HEAD>
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<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;1.1</B>
</DIV>


<DIV align="right" style="font-size: 10pt; margin-top: 12pt">
<DIV style="width: 100%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>
<B>EXECUTION COPY</B><BR>
<DIV style="width: 100%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>
</DIV>




<DIV align="center" style="font-size: 10pt; margin-top: 18pt">&nbsp;
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">&nbsp;
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">&nbsp;
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">&nbsp;
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">COUSINS PROPERTIES INCORPORATED
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">(a Georgia corporation)
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">40,000,000 Shares of Common Stock
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U>UNDERWRITING AGREEMENT</U>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">&nbsp;
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">&nbsp;
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">&nbsp;
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">&nbsp;
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">&nbsp;
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">Dated: September&nbsp;15, 2009
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><DIV style="width: 100%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><DIV style="width: 100%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>

</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt">Cousins Properties Incorporated<BR>
(a Georgia corporation)<BR>
40,000,000 Shares of Common Stock<BR>
(Par Value $1.00 Per Share)<BR>
UNDERWRITING AGREEMENT
</DIV>


<DIV align="right" style="font-size: 10pt; margin-top: 12pt">September&nbsp;15, 2009
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">MERRILL LYNCH &#038; CO.<BR>
Merrill Lynch, Pierce, Fenner &#038; Smith<BR>&nbsp;&nbsp;Incorporated<BR>
Morgan
Stanley &#038; Co. Incorporated<BR>
J.P. Morgan Securities Inc.<BR>&nbsp;&nbsp;as
Representatives of the several Underwriters

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">c/o Merrill Lynch &#038; Co.<BR>
Merrill Lynch, Pierce, Fenner &#038; Smith<BR>&nbsp;&nbsp;Incorporated<BR>
One
Bryant Park<BR>
New York, New York 10036; and

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Morgan Stanley &#038; Co. Incorporated<BR>
1585 Broadway<BR>
New York, New York 10036; and

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">J.P. Morgan Securities Inc.<BR>
383 Madison Avenue<BR>
New York, New York 10179

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Ladies and Gentlemen:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cousins Properties Incorporated, a Georgia corporation (the &#147;Company&#148;), confirms its agreement
with Merrill Lynch &#038; Co., Merrill Lynch, Pierce, Fenner &#038; Smith Incorporated (&#147;Merrill Lynch&#148;) and
each of the other Underwriters named in Schedule&nbsp;A hereto (collectively, the &#147;Underwriters,&#148; which
term shall also include any underwriter substituted as hereinafter provided in Section&nbsp;10 hereof),
for whom Merrill Lynch, Morgan Stanley &#038; Co. Incorporated (&#147;Morgan Stanley&#148;) and J.P. Morgan
Securities Inc. (&#147;J.P. Morgan&#148;) are acting as representatives (in such capacity, the
&#147;Representatives&#148;), with respect to the issue and sale by the Company and the purchase by the
Underwriters, acting severally and not jointly, of the respective numbers of shares of Common
Stock, par value $1.00 per share, of the Company (&#147;Common Stock&#148;) set forth in said Schedule&nbsp;A, and
with respect to the grant by the Company to the Underwriters, acting severally and not jointly, of
the option described in Section 2(b) hereof to purchase all or any part of 6,000,000 additional
shares of Common Stock to cover overallotments, if any. The aforesaid 40,000,000 shares of Common
Stock (the &#147;Initial Securities&#148;) to be purchased by the Underwriters and all or any part of the
6,000,000 shares of Common Stock subject to the option described in Section 2(b) hereof (the
&#147;Option Securities&#148;) are hereinafter called, collectively, the &#147;Securities.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company understands that the Underwriters propose to make a public offering of the
Securities as soon as the Representatives deem advisable after this Underwriting Agreement (the
&#147;Agreement&#148;) has been executed and delivered.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company and the Underwriters agree that up to 170,000 shares of the Securities to be
purchased by the Underwriters (the &#147;Reserved Securities&#148;) shall be reserved for sale by the
Underwriters to certain eligible employees and persons having business relationships with the
Company (the &#147;Invitees&#148;), as part of the distribution of the Securities by the Underwriters,
subject to the terms of this Agreement, the applicable rules, regulations and interpretations of
the Financial Industry Regulatory Authority, Inc. (&#147;FINRA&#148;) and all other applicable laws, rules
and regulations. To the extent that such Reserved Securities are not orally confirmed for purchase
by Invitees by the end of the first business day after the date of this Agreement, such Reserved
Securities may be offered to the public as part of the public offering contemplated hereby.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has filed with the Securities and Exchange Commission (the &#147;Commission&#148;) a shelf
registration statement on Form&nbsp;S-3 (No.&nbsp;333-158234), including the related base prospectus (the
&#147;Base Prospectus&#148;), which registration statement was declared effective by the Commission on April
13, 2009 in accordance with the rules and regulations of the Commission (the &#147;1933 Act
Regulations&#148;) under the Securities Act of 1933, as amended (the &#147;1933 Act&#148;). Such registration
statement covers the registration of the Securities under the 1933 Act. Promptly after execution
and delivery of this Agreement, the Company will prepare and file a final prospectus (the &#147;Final
Prospectus&#148;) in accordance with the provisions of Rule&nbsp;430B (&#147;Rule&nbsp;430B&#148;) of the 1933 Act
Regulations and paragraph (b)&nbsp;of Rule&nbsp;424 (&#147;Rule&nbsp;424(b)&#148;) of the 1933 Act Regulations. Any
information included in the Final Prospectus that was omitted from such registration statement at
the time it became effective but that is deemed to be part of and included in such registration
statement pursuant to Rule&nbsp;430B is referred to as &#147;Rule&nbsp;430B Information.&#148; Each prospectus used in
connection with the offering of the Securities that omitted Rule&nbsp;430B Information, together with
the Base Prospectus, is herein called a &#147;preliminary prospectus.&#148; Such registration statement, at
any given time, including the amendments thereto to such time, the exhibits and any schedules
thereto at such time, the documents incorporated by reference therein pursuant to Item&nbsp;12 of Form
S-3 under the 1933 Act at such time and the documents and information (including the 430B
Information) otherwise deemed to be a part thereof or included or incorporated therein by 1933 Act
Regulations, is herein called the &#147;Registration Statement.&#148; The Registration Statement at the time
it originally became effective is herein called the &#147;Original Registration Statement.&#148; The Final
Prospectus in the form first furnished to the Underwriters for use in connection with the offering
of the Securities, including the documents incorporated by reference therein pursuant to Item&nbsp;12 of
Form S-3 under the 1933 Act at the time of the execution of this Agreement and any preliminary
prospectuses that form a part thereof (including any prospectus wrapper), is herein called the
&#147;Prospectus.&#148; For purposes of this Agreement, all references to the Registration Statement, any
preliminary prospectus, the Prospectus or any amendment or supplement to any of the foregoing shall
be deemed to include the copy filed with the Commission pursuant to its Electronic Data Gathering,
Analysis and Retrieval system (&#147;EDGAR&#148;).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless the context otherwise clearly requires, all references in this Agreement to financial
statements and schedules and other information which is &#147;contained,&#148; &#147;included&#148; or &#147;stated&#148; in the
Registration Statement, any preliminary prospectus or the Prospectus (or other references of like
import) shall be deemed to mean and include all such financial statements and schedules and other
information which is incorporated by reference in or otherwise deemed by 1933 Act Regulations to be
a part of or included in the Registration Statement, any preliminary prospectus or the Prospectus,
as the case may be; and all references in this Agreement to amendments or supplements to the
Registration Statement, any preliminary prospectus or the Prospectus shall be deemed to mean and
include the filing of any document under the Securities Exchange Act of 1934, as amended (the &#147;1934
Act&#148;) which is incorporated by reference in or otherwise deemed by 1933 Act Regulations to be a
part of or included in the Registration Statement, such preliminary prospectus or the Prospectus,
as the case may be.
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 1. <U>Representations, Warranties and Agreements</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;<I>Representations and Warranties by the Company</I>. The Company represents and warrants to
each Underwriter as of the date hereof, the Applicable Time referred to in Section&nbsp;1(a)(i) hereof
and as of the Closing Time referred to in Section 2(c) hereof, and as of each Date of Delivery (if
any) referred to in Section 2(b) hereof, and agrees with each Underwriter, as follows:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <U>Compliance with Registration Requirements</U>. The Company has filed with the
Commission a shelf registration statement on Form S-3 (File No.&nbsp;333-158234) under the 1933
Act, in respect of the Common Stock (including the Securities) on March&nbsp;27, 2009, which
contains the Base Prospectus, to be used in connection with the public offering and sale of
the Securities; the Company satisfied on March&nbsp;27, 2009 and has thereafter continuously
satisfied all eligibility requirements for use of Form S-3 as contemplated by the
Registration Statement and this Agreement; the Original Registration Statement became
effective under the 1933 Act on April&nbsp;13, 2009 and is currently effective; the Company has
complied to the Commission&#146;s satisfaction with all requests of the Commission for additional
or supplemental information with respect to the Registration Statement or otherwise; no stop
order suspending the effectiveness of the Registration Statement or any part thereof has
been issued under the 1933 Act and no proceeding for that purpose has been instituted or are
pending or, to the knowledge of the Company, are threatened or contemplated by the
Commission, and no notice of objection of the Commission to the use of such form of
Registration Statement or any post-effective amendment thereto has been received by the
Company. Furthermore, the Company is not an ineligible issuer (as defined in Rule&nbsp;405 of
the 1933 Act Regulations), without taking into account any determination that it is not
necessary that the Company not be considered an ineligible issuer. The Company has paid all
filing fees required by the Commission with respect to the Registration Statement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) <U>Registration Statement, Prospectus and Disclosure at Time of Sale</U>.
Neither the Company nor any person acting on its behalf has made any (i)&nbsp;written or oral
communication relating to the Securities that would constitute an offer of such Securities
prior to the filing of the Original Registration Statement by the Company or (ii)&nbsp;any
written communication relating to the Securities made after the filing of the Original
Registration Statement by the Company that was required to but that has not been filed with
the Commission in accordance with the 1933 Act Regulations.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At the respective times the Original Registration Statement and each amendment thereto
became effective, at each deemed effective date with respect to the Underwriters pursuant to
Rule&nbsp;430B(f)(2) of the 1933 Act Regulations and at the Closing Time (and, if any Option
Securities are purchased, at the Date of Delivery), the Registration Statement complied and
will comply in all material respects with the requirements of the 1933 Act and the 1933 Act
Regulations and did not and will not contain an untrue statement of a material fact or omit
to state a material fact required to be stated therein or necessary to make the statements
therein not misleading, and the Prospectus, any preliminary prospectus and any supplement
thereto or prospectus wrapper prepared in connection therewith, at their respective times of
filing or issuance and at the Closing Time, complied and will comply with any applicable
laws or regulations of foreign jurisdictions in which the Prospectus and such preliminary
prospectus, as amended or supplemented, if applicable, are distributed in connection with
the offer and sale of the Securities and the Reserved Securities.
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neither the Prospectus nor any amendments or supplements thereto, at the time the
Prospectus or any such amendment or supplement was issued and at the Closing Time (and, if
any Option Securities are purchased, at the Date of Delivery), included or will include
an untrue statement of a material fact or omitted or will omit to state a material fact
necessary in order to make the statements therein, in the light of the circumstances under
which they were made, not misleading.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each preliminary prospectus (including the prospectus or prospectuses filed as part of
the Original Registration Statement or any amendment thereto) complied when so filed with
the 1933 Act Regulations and each preliminary prospectus and the Prospectus delivered to the
Underwriters for use in connection with this offering was identical to the electronically
transmitted copies thereof filed with the Commission pursuant to EDGAR, except to the extent
permitted by Regulation&nbsp;S-T.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As of the Applicable Time, neither (x)&nbsp;the Issuer General Use Free Writing
Prospectus(es) (as defined below) issued at or prior to the Applicable Time (as defined
below) the Statutory Prospectus (as defined below) and the information included on Schedule
B hereto, all considered together (collectively, the &#147;General Disclosure Package&#148;), nor (y)
any individual Issuer Limited Use Free Writing Prospectus, when considered together with the
General Disclosure Package, included any untrue statement of a material fact or omitted to
state any material fact necessary in order to make the statements therein, in the light of
the circumstances under which they were made, not misleading.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As used in this subsection and elsewhere in this Agreement:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Applicable Time&#148; means 7:00 a.m. on September&nbsp;16, 2009.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Issuer Free Writing Prospectus&#148; means any &#147;issuer free writing prospectus,&#148; as defined
in Rule&nbsp;433 of the 1933 Act Regulations (&#147;Rule&nbsp;433&#148;), relating to the Securities that (i)&nbsp;is
required to be filed with the Commission by the Company, (ii)&nbsp;is a &#147;road show that is a
written communication&#148; within the meaning of Rule&nbsp;433(d)(8)(i), whether or not required to
be filed with the Commission or (iii)&nbsp;is exempt from filing pursuant to Rule&nbsp;433(d)(5)(i)
because it contains a description of the Securities or of the offering that does not reflect
the final terms, in each case in the form filed or required to be filed with the Commission
or, if not required to be filed, in the form retained in the Company&#146;s records pursuant to
Rule&nbsp;433(g).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Issuer General Use Free Writing Prospectus&#148; means any Issuer Free Writing Prospectus
that is intended for general distribution to prospective investors, as evidenced by its
being specified in Schedule&nbsp;C hereto.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Issuer Limited Use Free Writing Prospectus&#148; means any Issuer Free Writing Prospectus
that is not an Issuer General Use Free Writing Prospectus.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;Statutory Prospectus&#148; as of any time means the prospectus relating to the Securities
that is included in the Registration Statement immediately prior to that time, including any
document incorporated by reference therein and any preliminary or other prospectus deemed to
be a part thereof.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each Issuer Free Writing Prospectus, as of its issue date and at all subsequent times
through the completion of the public offer and sale of the Securities or until any earlier
date that the Company notified or notifies the Representatives as described in Section&nbsp;3(e),
did not, does not and will not include any information that conflicted, conflicts or will
conflict with the
information contained in the Registration Statement, General Disclosure Package, or the
Prospectus.
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The representations and warranties in this subsection shall not apply to statements in
or omissions from the Registration Statement, General Disclosure Package, the Prospectus or
any Issuer Free Writing Prospectus made in reliance upon and in conformity with (1)&nbsp;written
information furnished to the Company by any Underwriter through the Representatives
expressly for use therein (it being understood and agreed that the Underwriter Information
(as hereinafter defined) constitutes all of such information) and (2)&nbsp;the information
contained in any Statement of Eligibility of a trustee filed as an exhibit to the
Registration Statement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) <U>Incorporated Documents</U>. The documents incorporated or deemed to be
incorporated by reference in the Registration Statement and the Prospectus, when they became
effective or at the time they were or hereafter are filed with the Commission, complied and
will comply in all material respects with the requirements of the 1933 Act and the 1933 Act
Regulations or<SUP style="font-size: 85%; vertical-align: text-top"> </SUP> the 1934 Act and the rules and regulations of the Commission
thereunder (the &#147;1934 Act Regulations&#148;), as applicable, and, when read together with the
other information in the General Disclosure Package and Prospectus, (a)&nbsp;at the time the
Original Registration Statement became effective, (b)&nbsp;at the earlier of time the Prospectus
was first used and the date and time of the first contract of sale of Securities in this
offering and (c)&nbsp;at the Closing Time (and if any Option Securities are purchased, at the
Date of Delivery), did not and will not contain an untrue statement of a material fact or
omit to state a material fact required to be stated therein or necessary to make the
statements therein not misleading in light of the circumstances under which they were made.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) <U>Independent Accountants</U>. Deloitte &#038; Touche LLP, who audited the
consolidated financial statements and schedule included in the Registration Statement, the
General Disclosure Package and the Prospectus, is an independent registered public
accounting firm as required by the 1933 Act, the 1933 Act Regulations, the 1934 Act and the
1934 Act Regulations as well as the Public Company Accounting Oversight Board.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) <U>Financial Statements</U>. The financial statements included in the
Registration Statement, the General Disclosure Package and the Prospectus, together with the
related schedule and notes, present fairly, in all material respects, the financial position
of the Company, its consolidated subsidiaries and its joint ventures (both consolidated and
unconsolidated) at the dates indicated and the consolidated statement of income,
stockholders&#146; investment and cash flows of the Company, its consolidated subsidiaries and
its joint ventures (both consolidated and unconsolidated), as applicable, for the periods
specified; and, except as may be stated in the related notes thereto, said financial
statements have been prepared in conformity with accounting principles generally accepted
in the United States (&#147;GAAP&#148;) applied on a consistent basis throughout the periods involved;
provided, however, that those financial statements of the Company included or incorporated
by reference in the Registration Statement, the General Disclosure Package and the
Prospectus that are unaudited are subject to year end adjustments and do not contain all
footnotes that may be required under GAAP for annual financial statements. The supporting
schedule, when considered in relation to the basic consolidated financial statements taken
as a whole, presents fairly, in all material respects, the information set forth therein.
Amounts included in the supporting schedule have been compiled or derived from information
that has been prepared in accordance with GAAP. The selected financial data and the summary
financial information included in the General Disclosure Package and the Prospectus present
fairly, in all material respects, the information shown therein and have been
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">compiled on a basis consistent with that of the audited and unaudited financial
statements, as the case may be, included in the Registration Statement. Without limiting
the foregoing, the Company has properly reflected all impairments on a timely basis in
accordance with GAAP and no such impairments exist that should have been reflected in the
Company&#146;s consolidated financial statements in accordance with GAAP that were not so
reflected. There are currently no impairments that would need to be reflected in the
Company&#146;s consolidated financial statements in accordance with GAAP in its periodic reports
to be filed in accordance with the 1934 Act and the 1934 Act Regulations that have not
already been disclosed in previously filed reports. The pro forma financial data included
in the Registration Statement, the General Disclosure Package and the Prospectus, if any,
present fairly, in all material respects, the information shown therein. The disclosures
contained in the Registration Statement, the General Disclosure Package or the Prospectus
regarding &#147;non-GAAP financial measures&#148; (as such term is defined by the rules and
regulations of the Commission), if any, comply with Regulation&nbsp;G under the 1934 Act and Item
10 of Regulation&nbsp;S-K of the 1933 Act Regulations, to the extent applicable.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) <U>No Material Adverse Change in Business</U>. Since the respective dates as of
which information is given in the Registration Statement, the General Disclosure Package or
the Prospectus (in each case as supplemented or amended), except as otherwise stated
therein, (A)&nbsp;there has been no material adverse change in the condition, financial or
otherwise, or in the earnings, business affairs or business prospects of the Company and its
subsidiaries considered as one enterprise, including, but not limited to, the impact of any
material adverse change in any joint venture, whether or not arising in the ordinary course
of business (a &#147;Material Adverse Effect&#148;), (B)&nbsp;without limiting the foregoing, neither the
Company nor any of its subsidiaries or joint ventures has sustained any material loss or
interference with its assets, businesses or properties (whether owned or leased) from fire,
explosion, earthquake, flood or other calamity, whether or not covered by insurance, that
would reasonably be expected to result in a Material Adverse Effect, (C)&nbsp;there have been no
transactions entered into by the Company or any of its Subsidiaries, as well as its Joint
Ventures, other than those in the ordinary course of business, which are material with
respect to the Company and its subsidiaries considered as one enterprise, (D)&nbsp;there has been
no obligation or liability, contingent or otherwise, directly or indirectly incurred by the
Company or any subsidiary or joint venture that would reasonably be expected to have a
Material Adverse Effect, (E)&nbsp;except for regular quarterly dividends on the Common Stock and
requisite dividends on the Company&#146;s 7 <FONT style="font-size: 70%"><SUP>3</SUP></FONT>/<FONT style="font-size: 60%">4</FONT>% Series&nbsp;A Cumulative Redeemable Preferred Stock par
value $1.00 per share, and 7 <FONT style="font-size: 70%"><SUP>1</SUP></FONT>/<FONT style="font-size: 60%">2</FONT>% Series&nbsp;B Cumulative Redeemable Preferred Stock, par value
$1.00 per share in amounts per share that are described in the Registration Statement,
General Disclosure Package and Prospectus, there has been no dividend or distribution of any
kind declared, paid or made by the Company on any class of its capital stock.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) <U>Good Standing of the Company</U>. The Company has been duly incorporated and
is validly existing as a corporation in good standing under the laws of the State of Georgia
and has corporate power and authority to own, lease and operate its properties and to
conduct its business as described in the Registration Statement, General Disclosure Package
and the Prospectus and to enter into and perform its obligations under this Agreement; and
the Company is duly qualified as a foreign corporation to transact business and is in good
standing in each other jurisdiction in which such qualification is required, whether by
reason of the ownership or leasing of property or the conduct of business, except where the
failure, individually or in the aggregate, so to qualify or to be in good standing would not
reasonably be expected to result in a Material Adverse Effect.
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii) <U>Good Standing of Subsidiaries</U>. The Company represents and warrants that
set forth on Schedule&nbsp;D are each of its subsidiaries that are material, financial or
otherwise, to the
earnings, business affairs or business prospects of the Company and its subsidiaries
considered as one enterprise (each a &#147;<U>Subsidiary</U>&#148; and collectively, the
&#147;<U>Subsidiaries</U>&#148;) and set forth on Schedule&nbsp;E are each of its joint ventures (that are
not also Subsidiaries) that are material, financial or otherwise, to the earnings, business
affairs or business prospects of the Company and its subsidiaries considered as one
enterprise (each a &#147;<U>Joint Venture</U>&#148; and collectively, the &#147;<U>Joint Ventures</U>&#148;).
Each Subsidiary and Joint Venture has been duly organized and is validly existing as a
corporation, limited liability company, limited partnership or limited liability limited
partnership, as the case may be, in good standing under the laws of the jurisdiction of its
incorporation, organization or formation, has corporate or other applicable entity, power
and authority to own, lease and operate its properties and to conduct its business as
described in the Registration Statement, General Disclosure Package and the Prospectus and
is duly qualified as a foreign corporation or other applicable entity to transact business
and is in good standing in each jurisdiction in which such qualification is required,
whether by reason of the ownership or leasing of property or the conduct of business, except
where the failure so to qualify or to be in good standing would not reasonably be expected
to result in a Material Adverse Effect; except as otherwise disclosed in the Registration
Statement, General Disclosure Package and the Prospectus all of the issued and outstanding
capital stock or other applicable entity interests, which are owned directly or indirectly
by the Company, of each such Subsidiary and Joint Venture has been duly authorized and
validly issued, is fully paid and, in the case of capital stock, non-assessable and, in the
case of any other equity interests, exempts the holder thereof from any expense or liability
beyond the amount of such holder&#146;s investment except as otherwise described in the
Registration Statement, General Disclosure Package and the Prospectus or as would not
reasonably be expected to result in a Material Adverse Effect, and, each of the shares of
capital stock or other applicable entity interests owned, directly or indirectly by the
Company, is owned by the Company, directly or through subsidiaries, free and clear of any
security interest, mortgage, pledge, lien, encumbrance, claim or equity; none of the
outstanding shares of capital stock or other applicable entity interests, which are owned
directly or indirectly by the Company, of any Subsidiary or Joint Venture was issued in
violation of the preemptive, co-sale, registration, right of first refusal or similar rights
of any securityholder of such Subsidiary or Joint Venture or any other person. The only
subsidiaries of the Company are (a)&nbsp;the Subsidiaries listed on Schedule&nbsp;D hereto and the
Joint Ventures listed on Schedule&nbsp;E hereto and (b)&nbsp;certain other subsidiaries which,
considered in the aggregate as a single subsidiary, do not constitute a &#147;significant
subsidiary&#148; as defined in Rule&nbsp;1-02 of Regulation&nbsp;S-X.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix) <U>Capitalization</U>. The authorized, issued and outstanding capital stock of
the Company is as set forth in the General Disclosure Package and the Prospectus in the
column entitled &#147;Actual&#148; under the caption &#147;Capitalization&#148; (except for subsequent
issuances, if any, pursuant to this Agreement, pursuant to the Company&#146;s common stock
dividend declared on July&nbsp;15, 2009 referred to in the General Disclosure Package and the
Prospectus, pursuant to reservations, agreements or employee benefit plans referred to in
the General Disclosure Package and the Prospectus or pursuant to the exercise of convertible
securities or options referred to in the General Disclosure Package and the Prospectus).
The shares of issued and outstanding capital stock of the Company have been duly authorized
and validly issued and are fully paid and non-assessable; none of the outstanding shares of
capital stock of the Company was issued in violation of the preemptive, co-sale,
registrations, right of refusal or other similar rights of any securityholder of the Company
or any other person. Except as disclosed in the Registration Statement, General Disclosure
Package and Prospectus, there are no outstanding (A)&nbsp;securities or obligations of the
Company or any of its Subsidiaries convertible into or exchangeable for any equity interests
of the Company or any such Subsidiary, (B)&nbsp;warrants, rights or options to subscribe for or
purchase from the Company or any Subsidiary any such equity interests or any such
convertible or exchangeable securities or obligations or (C)&nbsp;obligations of the Company or
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">any Subsidiary to issue any equity interests, any such convertible or exchangeable
securities or obligation, or any such warrants, rights or options. Except as disclosed in
the Registration Statement, General Disclosure Package and Prospectus, or as would not
reasonably be expected to result in a Material Adverse Effect, there are no outstanding (A)
securities or obligations of any Joint Venture convertible into or exchangeable for any
equity interests of such Joint Venture, (B)&nbsp;warrants, rights or options to subscribe for or
purchase from any Joint Venture any such equity interests or any such convertible or
exchangeable securities or obligations or (C)&nbsp;obligations of the Joint Venture to issue any
equity interests, any such convertible or exchangeable securities or obligation, or any such
warrants, rights or options. The Company&#146;s Common Stock has been registered pursuant to
Section 12(b) of the 1934 Act and is authorized for trading on the New York Stock Exchange
(&#147;NYSE&#148;). The Company is in compliance with the rules and regulations of the NYSE,
including without limitation, the requirements for continued listing of the Common Shares on
the NYSE, and, there are no actions, suits or proceedings pending or, to the Company&#146;s
knowledge, threatened or contemplated, and the Company has not received any notice from the
NYSE, regarding the revocation of such or otherwise regarding the delisting of the Common
Shares from the NYSE. The Company has notified the NYSE of its intention to apply to list
the Securities on the NYSE and has taken, or prior to the Closing Time, will take, all other
reasonable and necessary action to effect the listing of the Securities on the NYSE upon the
closing of the transactions contemplated hereby.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) <U>Authorization of Agreement</U>. This Agreement has been duly authorized,
executed and delivered by the Company.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xi) <U>Authorization and Description of Securities</U>. The Securities have been
duly authorized for issuance and sale to the Underwriters pursuant to this Agreement and,
when issued and delivered by the Company pursuant to this Agreement against payment of the
consideration set forth herein, will be validly issued, fully paid and non-assessable; the
Common Stock conforms to all statements relating thereto contained in the Registration
Statement, General Disclosure Package and Prospectus and such description conforms, in all
material respects, to the rights set forth in the instruments defining the same; no holder
of the Securities will be subject to personal liability by reason of being such a holder;
and the issuance of the Securities is not subject to the preemptive, co-sale, registration,
right of first refusal or other similar rights of any securityholder of the Company or any
other person.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xii) <U>Absence of Defaults and Conflicts</U>. Neither the Company nor any of its
Subsidiaries, nor any Joint Venture, is (i)&nbsp;in violation of its charter, by-laws, operating
agreement, partnership agreement or other applicable organizational documents, as the case
may be, or (ii)&nbsp;in default in the performance or observance nor has any event occurred which
with notice, lapse of time or both would constitute a default in the performance or
observance of any obligation, agreement, covenant or condition contained in any contract,
indenture, mortgage, deed of trust, loan or credit agreement, note, lease or other agreement
or instrument to which the Company or any of its subsidiaries or any Joint Venture is a
party or by which it or any of them may be bound, or to which any of the property or assets
of the Company or any subsidiary or any Joint Venture is subject (collectively, &#147;Agreements
and Instruments&#148;) except, in the case of clause (ii)&nbsp;above, for such violations or defaults
that would not reasonably be expected to result in a Material Adverse Effect; and the
execution, delivery and performance of this Agreement and the consummation of the
transactions contemplated herein and in the Registration Statement, General Disclosure
Package and Prospectus (including the issuance and sale of the Securities and the use of the
proceeds from the sale of the Securities as described in the Registration Statement, General
Disclosure Package and Prospectus under the caption &#147;Use of Proceeds&#148;) and compliance by the
Company with its obligations hereunder have been duly authorized by all necessary corporate
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">action, and do not and will not, whether with or without the giving of notice or
passage of time or both, conflict with or constitute a breach of, or default or Repayment
Event (as defined below) under, or result in the creation or imposition of any lien, charge
or encumbrance upon any property or assets of the Company or any subsidiary or Joint Venture
pursuant to, the Agreements and Instruments (except for such conflicts, breaches, defaults
or Repayment Events or liens, charges or encumbrances that would not reasonably be expected
to result in a Material Adverse Effect), nor will such action result in any violation of (Y)
the provisions of the charter, by-laws, operating agreement, partnership agreement or other
applicable organizational documents, as the as may be, of the Company or any Subsidiary or
Joint Venture or (Z)&nbsp;any applicable law, statute, rule, regulation, judgment, order, writ or
decree of any government, government instrumentality or court, domestic or foreign, having
jurisdiction over the Company or any subsidiary or Joint Venture or any of their assets,
properties or operations except, in the case of clause (Z), for such violations that would
not reasonably be expected to result in a Material Adverse Effect. The Company and each
subsidiary and Joint Venture is currently in compliance with all laws, statutes, rules,
regulations, judgments, orders, writs or decrees of any government, government
instrumentality or court, domestic or foreign, that are applicable to it and its properties,
except where failure thereof would not reasonably be expected to result in a Material
Adverse Effect. As used herein, a &#147;Repayment Event&#148; means any event or condition which
gives the holder of any note, debenture or other evidence of indebtedness (or any person
acting on such holder&#146;s behalf) the right to require the repurchase, redemption or repayment
of all or a portion of such indebtedness by the Company or any subsidiary or Joint Venture.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiii) <U>Absence of Labor Dispute</U>. No labor dispute with the employees of the
Company or any subsidiary exists or, to the knowledge of the Company, is imminent, and the
Company is not aware of any existing or imminent labor disturbance by the employees of any
of its or any subsidiary&#146;s or Joint Venture&#146;s principal suppliers, customers, tenants or
contractors, which, in either case, would reasonably be expected to result in a Material
Adverse Effect.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiv) <U>Absence of Proceedings</U>. Except as otherwise disclosed in the
Registration Statement, General Disclosure Package and Prospectus, there is no action, suit,
proceeding, inquiry or investigation before or brought by any court or governmental agency
or body, domestic or foreign, now pending, or, to the knowledge of the Company, threatened,
against or affecting the Company or any subsidiary or Joint Venture, which would reasonably
be expected to result in a Material Adverse Effect, or which would materially and adversely
affect the properties or assets of the Company and its subsidiaries considered as one
enterprise or the consummation of the transactions contemplated in this Agreement or the
performance by the Company of its obligations hereunder; the aggregate of all pending legal
or governmental proceedings to which the Company or any subsidiary or Joint Venture is a
party or of which any of their respective property or assets is the subject which are not
described in the Registration Statement, General Disclosure Package and Prospectus,
including ordinary routine litigation incidental to the business, would not reasonably be
expected to result in, individually or in the aggregate, a Material Adverse Effect.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xv) <U>Accuracy of Exhibits</U>. There are no contracts or documents that are
required to be described in the Registration Statement, the General Disclosure Package and
the Prospectus or the documents incorporated by reference therein or to be filed as exhibits
thereto which have not been so described or filed as required.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xvi) <U>Possession of Intellectual Property</U>. The Company and its subsidiaries
and Joint Ventures own or possess, license, or have other rights to use or can acquire on
reasonable terms rights with respect to patents, licenses, inventions, copyrights, know-how
(including trade secrets
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">and other unpatented and/or unpatentable proprietary or confidential information,
systems, or procedures, whether or not patentable), trademarks, service marks, trade names
and other intellectual property (collectively, &#147;Intellectual Property&#148;) necessary to carry
on the business now operated by them as described in the Registration Statement, the General
Disclosure Package and the Prospectus, except where the failure so to own, possess or
license or have other rights to use or acquire would not reasonably be expected, singly or
in the aggregate, to result in a Material Adverse Effect. Neither the Company nor any of
its subsidiaries or Joint Ventures has received any notice of, or is otherwise aware of any
infringement of or conflict with asserted rights of others with respect to any Intellectual
Property or of any facts or circumstances which would render any Intellectual Property
owned, possessed or licensed by the Company or any of its subsidiaries or Joint Ventures
invalid or inadequate to protect the interest of the Company or any of its subsidiaries or
Joint Ventures therein, and which infringement or conflict (if the subject of any
unfavorable decision, ruling or finding) or invalidity or inadequacy, singly or in the
aggregate, would reasonably be expected to result in a Material Adverse Effect.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xvii) <U>Absence of Manipulation</U>. Neither the Company nor any affiliate of the
Company has taken, nor will the Company or any affiliate take, directly or indirectly, any
action which is designed to or which has constituted or which would be expected to cause or
result in stabilization or manipulation of the price of any security of the Company to
facilitate the sale or resale of the Securities in violation of any applicable law.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xviii) <U>Absence of Further Requirements</U>. No filing with, or authorization,
approval, consent, license, order, registration, qualification or decree of, any court or
governmental authority or agency is necessary or required for the performance by the Company
of its obligations hereunder, in connection with the offering, issuance or sale of the
Securities hereunder or the consummation of the transactions contemplated by this Agreement,
except (i)&nbsp;such as have been already obtained or as may be required under the 1933 Act or
the 1933 Act Regulations and (ii)&nbsp;such as have been obtained under the laws and regulations
of jurisdictions outside of the United States in which the Reserved Securities are offered.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xix) <U>Possession of Licenses and Permits</U>. The Company and its subsidiaries as
well as its Joint Ventures possess such permits, licenses, approvals, consents and other
authorizations (collectively, &#147;Governmental Licenses&#148;) issued by the appropriate federal,
state, local or foreign regulatory agencies or bodies necessary to conduct the business now
operated by them as described in the Registration Statement, General Disclosure Package and
Prospectus, except where the failure so to possess would not, singly or in the aggregate,
reasonably be expected to result in a Material Adverse Effect; the Company and its
subsidiaries and Joint Ventures are in compliance with the terms and conditions of all such
Governmental Licenses, except where the failure so to comply would not, singly or in the
aggregate, reasonably be expected to result in a Material Adverse Effect; all of the
Governmental Licenses are valid and in full force and effect, except when the invalidity of
such Governmental Licenses or the failure of such Governmental Licenses to be in full force
and effect would not, singly or in the aggregate, reasonably be expected to result in a
Material Adverse Effect; and neither the Company nor any of its subsidiaries or Joint
Ventures has received any notice of proceedings relating to the revocation or modification
of any such Governmental Licenses which, singly or in the aggregate, if the subject of an
unfavorable decision, ruling or finding, would reasonably be expected to result in a
Material Adverse Effect.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xx) <U>Title to Property</U>. The Company and its Subsidiaries as well as its Joint
Ventures have good title to all real property and other properties reflected as owned in the
Company&#146;s consolidated financial statements, in each case, free and clear of all mortgages,
pledges, liens,
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">security interests, claims, restrictions or encumbrances of any kind except such as (a)
are described in the Registration Statement, General Disclosure Package and the Prospectus
or (b)&nbsp;would not reasonably be expected to, individually or in the aggregate, result in a
Material Adverse Effect; and, to the Company&#146;s knowledge, all of the leases and subleases
material to the business of the Company and its Subsidiaries and Joint Ventures, and under
which the Company or any of its Subsidiaries or Joint Ventures holds or leases properties
described in the Registration Statement, General Disclosure Package and the Prospectus, are
in full force and effect and enforceable in accordance with their terms except as may be
limited by bankruptcy, insolvency or similar laws affecting the rights of creditors and with
such exceptions as do not materially interfere with the use of the property, and neither the
Company nor any Subsidiary or Joint Venture has any notice of any material claim of any sort
that has been asserted by anyone adverse to the rights of the Company or any Subsidiary or
Joint Venture under any of the leases or subleases mentioned above, or affecting or
questioning the rights of the Company or such Subsidiary or Joint Venture to the
enforceability of said lease or sublease, possession of the leased or subleased premises
under any such lease or sublease, as the case may be, except in each case for such matters
as would not reasonably be expected to individually or in the aggregate result in a Material
Adverse Effect. Except as otherwise disclosed in the Registration Statement, General
Disclosure Package and Prospectus, or as would not, individually or in the aggregate,
reasonably be expected to result in a Material Adverse Effect, (i)&nbsp;no tenant under any of
the leases pursuant to which the Company or its Subsidiary or Joint Venture leases their
properties has an option or right of first refusal to purchase the premises demised under
such lease, (ii)&nbsp;the use and occupancy of each of the properties of the Company and its
Subsidiaries and Joint Ventures comply with all applicable laws, including, but not limited
to, codes and zoning laws and regulations, (iii)&nbsp;no properties are subject to, and the
Company has no knowledge of, any contemplated condemnation or zoning change that would
affect the size of, use of, improvement of, construction on, or access to any of the
properties of the Company, its Subsidiaries or Joint Ventures, and (iv)&nbsp;there is no pending,
or to the Company&#146;s knowledge, any contemplated proceeding or action that would affect the
size of, use of, improvements or construction on, or access to any of the properties of the
Company, its Subsidiaries or Joint Ventures. Except as disclosed in the Registration
Statement, General Disclosure Package and Prospectus or as would not reasonably be expected
to result in a Material Adverse Effect, (i)&nbsp;the Company, its Subsidiaries and Joint Ventures
maintain title insurance with respect to the real property reflected as owned therein in an
amount consistent with the title insurance maintained by similar companies in similar
businesses and (ii)&nbsp;the mortgages and deeds of trust encumbering the properties and assets
described or referred to therein are not convertible into equity.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xxi) <U>Investment Company Act</U>. The Company is not required, and upon the
issuance and sale of the Securities as herein contemplated and the application of the net
proceeds therefrom as described in the Registration Statement, General Disclosure Package
and the Prospectus will not be required, to register as an &#147;investment company&#148; under the
Investment Company Act of 1940, as amended (the &#147;1940 Act&#148;).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xxii) <U>Environmental Laws</U>. Except as described in the Registration Statement,
General Disclosure Package and the Prospectus or except as would not, singly or in the
aggregate, reasonably be expected to result in a Material Adverse Effect, (A)&nbsp;neither the
Company nor any of its subsidiaries or Joint Ventures is in violation of any applicable
federal, state, local or foreign statute, law, rule, regulation, ordinance, code, policy or
rule of common law or any judicial or administrative interpretation thereof, including any
applicable and legally binding judicial or administrative order, consent, decree or
judgment, relating to pollution or protection of human health from Hazardous Materials (as
hereinafter defined) or protection of the environment (including, without limitation,
ambient air, surface water, groundwater, land surface or subsurface
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">strata) or wildlife, including, without limitation, laws and regulations relating to
the release or threatened release of chemicals, pollutants, contaminants, wastes, toxic
substances, hazardous substances, petroleum or petroleum products, asbestos-containing
materials or mold (collectively, &#147;Hazardous Materials&#148;) or to the manufacture, processing,
distribution, use, treatment, storage, disposal, transport or handling of Hazardous
Materials (collectively, &#147;Environmental Laws&#148;), (B)&nbsp;the Company and its Subsidiaries and
Joint Ventures have all permits, authorizations and approvals required under any applicable
Environmental Laws necessary for the operation of their respective business and are each in
compliance with their requirements, (C)&nbsp;the Company has not received any notice of, and has
no knowledge of, any pending or threatened administrative, regulatory or judicial actions,
suits, demands, demand letters, claims, liens, notices of noncompliance or violation,
investigation or proceedings relating to any Environmental Laws against the Company or any
of its subsidiaries or Joint Ventures and (D)&nbsp;to the knowledge of the Company, there are no
events or circumstances that would reasonably be expected to form the basis of an order for
clean-up or remediation, or an action, suit or proceeding by any private party or
governmental body or agency, against or affecting the Company or any of its subsidiaries or
Joint Ventures relating to Hazardous Materials or any Environmental Laws. Except as would
not reasonably be expected to result in a Material Adverse Effect, the Company, its
subsidiaries and Joint Ventures have conducted Phase I environmental assessments on each of
their currently owned properties at the time such property was acquired. The Company, its
Subsidiaries and Joint Ventures currently conduct Phase I environmental assessments with
respect to each property to be acquired as part of the ordinary course of business. The
Company, its Subsidiaries and Joint Ventures have not obtained any Phase I environmental
assessments that have indicated the existence of any conditions that would reasonably be
expected to result in a Material Adverse Effect. None of the entities which prepared
appraisals of the properties or Phase I environmental assessment reports with respect to the
properties held by the Company, its Subsidiaries or Joint Ventures was employed for such
purpose on a contingent basis or has any substantial interest in Company, its Subsidiaries
or Joint Ventures, and none of their directors, officers or employees is connected with the
Company, any Subsidiary or Joint Venture as a promoter, selling agent, director, officer or
employee.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xxiii) <U>Registration Rights</U>. Except as disclosed in the Registration
Statement, the General Disclosure Package and the Prospectus, there are no persons with
registration or other similar rights to have any equity or debt securities, including
securities that are convertible into or exchangeable for equity securities, registered
pursuant to the Registration Statement or otherwise registered by the Company under the 1933
Act; and no person has a right of participation, co-sale, first refusal or similar right
with respect to the sale of the Securities by the Company.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xxiv) <U>Accounting Controls and Disclosure Controls</U>. The Company maintains a
system of internal accounting controls sufficient to provide reasonable assurances that (1)
transactions are executed in accordance with management&#146;s general or specific authorization;
(2)&nbsp;transactions are recorded as necessary to permit preparation of financial statements in
conformity with GAAP and to maintain accountability for assets; (3)&nbsp;expenditures are being
made in accordance with management&#146;s general or specific authorization; (4)&nbsp;access to assets
is permitted only in accordance with management&#146;s general or specific authorization; and (5)
the recorded accountability for assets is compared with the existing assets at reasonable
intervals and appropriate action is taken with respect to any differences. Except as
described in the Registration Statement, General Disclosure Package and the Prospectus,
since the end of the Company&#146;s most recent audited fiscal year, there has been (I)&nbsp;to the
Company&#146;s knowledge, no material weakness in the Company&#146;s internal control over financial
reporting (whether or not remediated) and (II)&nbsp;no change in the Company&#146;s internal control
over financial reporting that has materially affected, or is reasonably likely to materially
affect, the Company&#146;s internal control
over financial reporting. The Company does not, to its knowledge, currently have any
significant deficiencies in its internal control over financial reporting that are
reasonably likely to result in a material weakness.
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company employs disclosure controls and procedures that are designed to ensure that
information required to be disclosed by the Company in the reports that it files or submits
under the 1934 Act is recorded, processed, summarized and reported, within the time periods
specified in the Commission&#146;s rules and forms, and is accumulated and communicated to the
Company&#146;s management, including its principal executive officer or officers and principal
financial officer or officers, as appropriate, to allow timely decisions regarding
disclosure.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xxv) <U>Compliance with the Sarbanes-Oxley Act and Related Party Matters</U>. There
is and has been no failure on the part of the Company or any of the Company&#146;s directors or
officers, in their capacities as such, to comply in all material respects with any provision
of the Sarbanes-Oxley Act of 2002 and the rules and regulations promulgated in connection
therewith (the &#147;Sarbanes-Oxley Act&#148;), including Section&nbsp;402 related to loans and Sections
302 and 906 related to certifications. No transaction has occurred between or among the
Company, its Subsidiaries and Joint Ventures, on one hand, and any of their respective
officers or directors or any affiliate or affiliates of any such officer or director, on the
other hand, that is required to be described in the Registration Statement, General
Disclosure Package and Prospectus which is not so described.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xxvi) <U>Pending Proceedings and Examinations</U>. The Registration Statement is not
the subject of a pending proceeding or examination under Section 8(d) or 8(e) of the 1933
Act, and the Company is not the subject of a pending proceeding under Section&nbsp;8A of the 1933
Act in connection with the offering of the Securities.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xxvii) <U>Payment of Taxes</U>. All United States federal income tax returns of the
Company and its Subsidiaries and Joint Ventures required by law to be filed have been filed
and all taxes shown by such returns or otherwise assessed, which are due and payable, have
been paid, except assessments against which appeals have been or will be promptly taken and
as to which adequate reserves have been provided, and all such returns are true and correct
in all material respects. The Company and its Subsidiaries and Joint Ventures have filed
all other tax returns that are required to have been filed by them pursuant to applicable
foreign, state, local or other law except insofar as the failure to file such returns would
not reasonably be expected to result in a Material Adverse Effect, have paid all taxes due
pursuant to such returns or pursuant to any assessment received by the Company and its
Subsidiaries, except for such taxes, if any, as are being contested in good faith and as to
which adequate reserves have been provided, and all such returns are true and correct in all
material respects. The Company has made appropriate provisions in the Company&#146;s financial
statements that are incorporated by reference into the Registration Statement (or otherwise
described in the General Disclosure Package and the Prospectus) in respect of all federal,
state, local and foreign income and franchise taxes for all current or prior periods as to
which the tax liability of the Company, its Subsidiaries and its Joint Ventures has not been
finally determined, except to the extent of any inadequacy that would not reasonably be
expected to result in a Material Adverse Effect.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xxviii) <U>Insurance</U>. The Company and its Subsidiaries and Joint Ventures carry
or are entitled to the benefits of insurance in such amounts and covering such risks as are
generally deemed customary for their business and all such insurance is in full force and
effect. The Company has no reason to believe that it will not be able (A)&nbsp;to renew its
existing insurance coverage as and when such policies expire or (B)&nbsp;to obtain comparable
coverage from similar institutions as may be necessary or appropriate to conduct its
business as now conducted and at a
cost that would not reasonably be expected to result in a Material Adverse Effect.
Since January&nbsp;1, 2004, neither of the Company nor any Subsidiary or Joint Venture has been
denied any insurance coverage with respect to any material claim made by such party under
policies such party reasonably believed covered such claim.
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xxix) <U>Statistical and Market-Related Data</U>. Any statistical and market-related
data included in the Registration Statement, the General Disclosure Package and the
Prospectus are based on or derived from sources that the Company believes to be reliable and
accurate, and, if required, the Company has obtained the written consent to the use of such
data from such sources.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xxx) <U>Foreign Corrupt Practices Act</U>. Neither the Company nor, to the knowledge
of the Company, any director, officer, agent, employee, affiliate or other person acting on
behalf of the Company or any of its Subsidiaries or Joint Ventures is aware of or has taken
any action, directly or indirectly, that would result in a violation by such persons of the
Foreign Corrupt Practices Act of 1977, as amended, and the rules and regulations thereunder
(the &#147;FCPA&#148;), including without limitation, making use of the mails or any means or
instrumentality of interstate commerce corruptly in the furtherance of an offer, payment,
promise to pay or authorization of the payment of any money, or other property, gift,
promise to give, or authorization of the giving of anything of value to any &#147;foreign
official&#148; (as such term is defined in the FCPA) or any foreign political party or official
thereof or any candidate for foreign political office, in contravention of the FCPA and the
Company and to the knowledge of the Company, its Subsidiaries, Joint Ventures and affiliates
have conducted their businesses in compliance with the FCPA and have instituted and maintain
policies and procedures designed to ensure and which are reasonably expected to continue to
ensure, continued compliance therewith.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xxx) <U>Money Laundering Laws</U>. The operations of the Company and its
Subsidiaries and, to the knowledge of the Company, Joint Ventures are and have been
conducted at all times in compliance with applicable financial recordkeeping and reporting
requirements of the Currency and Foreign Transactions Reporting Act of 1970, as amended, the
money laundering statutes of all jurisdictions in which such companies conduct business, the
rules and regulations thereunder and any related or similar rules, regulations or
guidelines, issued, administered or enforced by any governmental agency within such
jurisdictions (collectively, the &#147;Money Laundering Laws&#148;) and no action, suit or proceeding
by or before any court or governmental agency, authority or body or any arbitrator involving
the Company with respect to the Money Laundering Laws is pending or, to the knowledge of the
Company, threatened.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xxxi) <U>OFAC</U>. Neither the Company, its Subsidiaries or, to the knowledge of the
Company, its Joint Ventures, nor, to the knowledge of the Company, any director, officer,
agent, employee, affiliate or person acting on behalf of the Company, its Subsidiaries or
Joint Ventures is currently subject to any U.S. sanctions administered by the Office of
Foreign Assets Control of the U.S. Treasury Department (&#147;OFAC&#148;); and the Company will not
directly or indirectly use the proceeds of the offering, or lend, contribute or otherwise
make available such proceeds to any subsidiary, joint venture partner or other person or
entity, for the purpose of financing the activities of any person currently subject to any
U.S. sanctions administered by OFAC.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xxxii) <U>No Commissions</U><I>. </I>Neither the Company nor any of its subsidiaries is a
party to any contract, agreement or understanding with any person (other than as
contemplated by this Agreement) that would give rise to a valid claim against the Company or
any of its subsidiaries or the Underwriters for a brokerage commission, finder&#146;s fee or like
payment in connection with the offering and sale of the Securities.
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xxxiii) <U>Actively-Traded Security</U>. The Common Stock is an &#147;actively-traded
security&#148; exempted from the requirements of Rule&nbsp;101 of Regulation&nbsp;M under the 1934 Act by
subsection (c)(1) of such rule.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xxxiv) <U>REIT Status</U><I>. </I>Commencing with its taxable year ended December&nbsp;31, 1987,
the Company has been organized and operated in conformity with the requirements for
qualification and taxation as a real estate investment trust (&#147;REIT&#148;) under the Internal
Revenue Code of 1986, as amended, and the regulations and published interpretations
thereunder (collectively, the &#147;Code&#148;), and the Company&#146;s current and proposed method of
operations as described in the Registration Statement, the General Disclosure Package and
the Prospectus will enable it to continue to meet the requirements for qualification and
taxation as a REIT under the Code for its taxable year ending December&nbsp;31, 2009 and
thereafter. No transaction or other event has occurred that could reasonably be expected to
cause the Company to not be able to qualify as a REIT for its taxable year ending December
31, 2009 or future taxable years. The Company and each of its subsidiaries have no
intention of changing their operations or engaging in activities that would cause the
Company to fail to qualify, or make economically undesirable the Company&#146;s continued
qualification, as a REIT under the Code.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xxxv) <U>Description of Organization and Method of Operations</U><I>. </I>The Company&#146;s
conflicts of interest, operating policies, investment guidelines and operating restrictions,
if any, described or incorporated by reference in the Registration Statement, General
Disclosure Package and Prospectus accurately reflect, in all material respects, the
information contained in such guidelines and policies of the Company, and no material
deviation from such guidelines or policies is currently contemplated.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xxxvi) <U>Director Independence</U>. Each of the currently serving independent
directors (or independent director nominees, once appointed, if applicable) named in the
Registration Statement, General Disclosure Package and Prospectus satisfies the independence
standards established by the NYSE and, with respect to members of the Company&#146;s audit
committee, the enhanced independence standards contained in Rule&nbsp;10A-3(b)(1) promulgated by
the Commission under the 1934 Act.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xxxvii) <U>Dividends/Distributions</U>. Except as disclosed in the Registration
Statement, General Disclosure Package and Prospectus, or as would not reasonably be expected
to result in a Material Adverse Effect, no Subsidiary or Joint Venture is currently
prohibited, directly or indirectly, from paying any dividends or distributions to the
Company to the extent permitted by applicable law, from making any other distribution on
such Subsidiary&#146;s or Joint Venture&#146;s issued and outstanding capital stock or other equity
interests, from repaying to the Company any loans or advances to such Subsidiary or Joint
Venture from the Company or from transferring any of the property or assets of such
Subsidiary or Joint Venture to the Company.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xxxviii) <U>Officer&#146;s Certificates</U>. Any certificate signed by any officer of the
Company or any of its subsidiaries delivered to the Representatives or to counsel for the
Underwriters shall be deemed a representation and warranty by the Company to each
Underwriter as to the matters covered thereby.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 2. <U>Sale and Delivery to Underwriters; Closing</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <I>Initial Securities</I>. On the basis of the representations and warranties herein contained
and subject to the terms and conditions herein set forth, the Company agrees to sell to each
Underwriter, severally and not jointly, and each Underwriter, severally and not jointly, agrees to
purchase from the
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Company, at the price per share set forth in Schedule&nbsp;F, the number of Initial Securities set
forth in Schedule&nbsp;A opposite the name of such Underwriter, plus any additional number of Initial
Securities which such Underwriter may become obligated to purchase pursuant to the provisions of
Section&nbsp;10 hereof, subject, in each case, to such adjustments among the Underwriters as the
Representatives in their sole discretion shall make to eliminate any sales or purchases of
fractional securities.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;<I>Option Securities</I>. In addition, on the basis of the representations and warranties herein
contained and subject to the terms and conditions herein set forth, the Company hereby grants an
option to the Underwriters, severally and not jointly, to purchase up to an additional 6,000,000
shares of Common Stock at the price per share set forth in Schedule&nbsp;F, less an amount per share
equal to any dividends or distributions declared by the Company and payable on the Initial
Securities but not payable on the Option Securities. The option hereby granted will expire 30&nbsp;days
after the date hereof and may be exercised in whole or in part from time to time only for the
purpose of covering overallotments which may be made in connection with the offering and
distribution of the Initial Securities upon notice by the Representatives to the Company setting
forth the number of Option Securities as to which the several Underwriters are then exercising the
option and the time and date of payment and delivery for such Option Securities. Any such time and
date of delivery (a &#147;Date of Delivery&#148;) shall be determined by the Representatives, but shall not
be earlier than two nor later than seven full business days after delivery of such notice of the
exercise of said option, and in no event prior to the Closing Time, as hereinafter defined. If the
option is exercised as to all or any portion of the Option Securities, each of the Underwriters,
acting severally and not jointly, will purchase that proportion of the total number of Option
Securities then being purchased which the number of Initial Securities set forth in Schedule&nbsp;A
opposite the name of such Underwriter bears to the total number of Initial Securities, subject in
each case to such adjustments as the Representatives in their discretion shall make to eliminate
any sales or purchases of fractional shares.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;<I>Payment</I>. The Securities shall be delivered by the Company to the Representatives,
including, at the option of the Representatives, through the facilities of DTC for the account of
the Representatives, against payment by the Representatives of the purchase price therefor by wire
transfer of immediately available funds to a bank account designated by the Company. Each closing
of the transactions contemplated hereby shall occur at the offices of Hunton &#038; Williams LLP, 600
Peachtree Street, NE, Suite&nbsp;4100, Atlanta, GA 30308, or at such other place as shall be agreed upon
by the Representatives and the Company, at 10:30&nbsp;A.M. (Eastern time) on the third (fourth, if the
pricing occurs after 4:30 P.M. (Eastern time) on any given day) business day after the date hereof
(unless postponed in accordance with the provisions of Section&nbsp;10), or such other time not later
than ten business days after such date as shall be agreed upon by the Representatives and the
Company (such time and date of payment and delivery being herein called &#147;Closing Time&#148;).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition, in the event that any or all of the Option Securities are purchased by the
Underwriters, such closing transactions shall be made at the above-mentioned offices, or at such
other place as shall be agreed upon by the Representatives and the Company, on each Date of
Delivery as specified in the notice from the Representatives to the Company.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payment shall be made to the Company by wire transfer of immediately available funds to a bank
account designated by the Company, against delivery to the Representatives for the respective
accounts of the Underwriters of the Securities to be purchased by them. It is understood that each
Underwriter has authorized the Representatives, for its account, to accept delivery of, receipt
for, and make payment of the purchase price for, the Initial Securities and the Option Securities,
if any, which it has agreed to purchase. Each of Merrill Lynch and Morgan Stanley, individually
and not as representative of the Underwriters, may (but shall not be obligated to) make payment of
the purchase price for the Initial Securities or the Option Securities, if any, to be purchased by
any Underwriter whose funds have not been received by the
Closing Time or the relevant Date of Delivery, as the case may be, but such payment shall not
relieve such Underwriter from its obligations hereunder.
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;<I>Denominations; Registration</I>. Certificates for the Initial Securities and the Option
Securities, if any, shall be in such denominations and registered in such names as the
Representatives may request in writing at least one full business day before the Closing Time or
the relevant Date of Delivery, as the case may be. The certificates for the Initial Securities and
the Option Securities, if any, will be made available for examination and packaging by the
Representatives in The City of New York not later than 10:00&nbsp;A.M. (Eastern time) on the business
day prior to the Closing Time or the relevant Date of Delivery, as the case may be.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 3. <U>Covenants of the Company</U>. The Company covenants and, as applicable,
represents and warrants, with each Underwriter as follows:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <I>Compliance with Securities Regulations and Commission Requests; Payment of Filing
Fees</I>. The Company, subject to Section&nbsp;3(b), will comply with the requirements of Rule&nbsp;430B
and will notify the Representatives immediately, and confirm the notice in writing, (i)&nbsp;when
any post-effective amendment to the Registration Statement or new registration statement
relating to the Securities shall become effective, or any supplement to the Prospectus or
any amended Prospectus shall have been filed, (ii)&nbsp;of the receipt of any comments from the
Commission relating to the Securities, (iii)&nbsp;of any request by the Commission for any
amendment to the Registration Statement, the filing of a new registration statement relating
to the Securities or any amendment or supplement to the Prospectus or any document
incorporated by reference therein or otherwise deemed to be a part thereof or for additional
information relating to the Securities, (iv)&nbsp;of the issuance by the Commission of any stop
order suspending the effectiveness of the Registration Statement or such new registration
statement relating to the Securities or of any order preventing or suspending the use of any
preliminary prospectus, or of the suspension of the qualification of the Securities for
offering or sale in any jurisdiction, or of the initiation or threatening of any proceedings
for any of such purposes or of any examination pursuant to Section 8(e) of the 1933 Act
concerning the Registration Statement, (v)&nbsp;if the Company becomes the subject of a
proceeding under Section&nbsp;8A of the 1933 Act in connection with the offering of the
Securities or (vi)&nbsp;upon the happening of any similar event. The Company will effect the
filings required under Rule&nbsp;424(b), in the manner and within the time period required by
Rule 424(b) (without reliance on Rule&nbsp;424(b)(8)), and will take such steps as it deems
necessary to ascertain promptly whether the form of prospectus transmitted for filing under
Rule 424(b) was received for filing by the Commission and, in the event that it was not, it
will promptly file such prospectus. The Company will make every commercially reasonable
effort to prevent the issuance of any stop order and, if any stop order is issued, to obtain
the lifting thereof at the earliest possible moment.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <I>Filing of Amendments and Exchange Act Documents</I>. During the period when the
Prospectus is required by the 1933 Act and the 1933 Act Regulations to be delivered in
connection with the sale of the Securities, the Company will give the Representatives notice
of its intention to file or prepare any amendment to the Registration Statement or new
registration statement relating to the Securities or any amendment, supplement or revision
to either any preliminary prospectus (including any prospectus included in the Original
Registration Statement or amendment thereto at the time it became effective) or to the
Prospectus, whether pursuant to the 1933 Act, the 1934 Act or otherwise, and the Company
will furnish the Representatives with copies of any such documents a reasonable amount of
time prior to such proposed filing or use, as the case may be, and will not file or use any
such document to which the Representatives or counsel for the Underwriters shall object.
The Company has given the Representatives notice of
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">any filings made pursuant to the 1934 Act or 1934 Act Regulations within 48 hours prior
to the execution of this Agreement; the Company will give the Representatives notice of its
intention to make any such filing from the execution of this Agreement to the Closing Time
and will furnish the Representatives with copies of any such documents a reasonable amount
of time prior to such proposed filing and will not file or use any such document to which
the Representatives or counsel for the Underwriters shall reasonably object in writing.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <I>Delivery of Registration Statements</I>. The Company has furnished or will deliver to
the Representatives and counsel for the Underwriters, upon request, without charge, four
signed copies of the Original Registration Statement and of each amendment thereto
(including exhibits filed therewith or incorporated by reference therein and documents
incorporated or deemed to be incorporated by reference therein or otherwise deemed to be a
part thereof if not filed with the Commission pursuant to EDGAR) and signed copies of all
consents and certificates of experts, and will also deliver to the Representatives, upon
request, without charge, a conformed copy of the Original Registration Statement and of each
amendment thereto (without exhibits) for each of the Underwriters. The copies of the
Original Registration Statement and each amendment thereto furnished to the Underwriters
will be identical to the electronically transmitted copies thereof filed with the Commission
pursuant to EDGAR, except to the extent permitted by Regulation&nbsp;S-T.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <I>Delivery of Prospectuses</I>. The Company has delivered to each Underwriter, without
charge, as many copies of each preliminary prospectus as such Underwriter reasonably
requested, and the Company hereby consents to the use of such copies for purposes permitted
by the 1933 Act. The Company will furnish to each Underwriter, without charge, during the
period when the Prospectus is required to be delivered under the 1933 Act and the 1933 Act
Regulations, such number of copies of the Prospectus (as amended or supplemented) as such
Underwriter may reasonably request. The Prospectus and any amendments or supplements
thereto furnished to the Underwriters will be identical to the electronically transmitted
copies thereof filed with the Commission pursuant to EDGAR, except to the extent permitted
by Regulation&nbsp;S-T.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <I>Continued Compliance with Securities Laws</I>. The Company will comply with the 1933
Act and the 1933 Act Regulations and the 1934 Act and the 1934 Act Regulations so as to
permit the completion of the distribution of the Securities as contemplated in this
Agreement and in the Prospectus. If at any time during the period when the Prospectus is
required by the 1933 Act or 1933 Act Regulations to be delivered in connection with sales of
the Securities, any event shall occur or condition shall exist as a result of which it is
necessary, in the opinion of counsel for the Underwriters or for the Company, to amend the
Registration Statement or amend or supplement the Prospectus in order that the Prospectus
will not include any untrue statements of a material fact or omit to state a material fact
necessary in order to make the statements therein not misleading in the light of the
circumstances existing at the time it is delivered to a purchaser, or if it shall be
necessary, in the opinion of such counsel, at any such time to amend the Registration
Statement or to file a new registration statement relating to the Securities, or amend or
supplement the Prospectus in order to comply with the requirements of the 1933 Act or the
1933 Act Regulations, the Company will promptly prepare and file with the Commission,
subject to Section&nbsp;3(b), such amendment, supplement or new registration statement as may be
necessary to correct such statement or omission or to comply with such requirements, the
Company will use its best efforts to have such amendment or new registration statement
declared effective as soon as practicable (if it is not an automatic shelf registration
statement with respect to the Securities) and the Company will furnish to the Underwriters
such number of copies of such amendment, supplement or new registration statement as the
Underwriters may reasonably request. If at any time following issuance of an Issuer Free
Writing Prospectus through the Closing Time or the
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">relevant Date of Delivery there occurred or occurs an event or development as a result
of which, in the opinion of counsel for the Underwriters or for the Company, such Issuer
Free Writing Prospectus conflicted or would conflict with the information contained in the
Registration Statement, General Disclosure Package or Prospectus or included or would
include an untrue statement of a material fact or omitted or would omit to state a material
fact necessary in order to make the statements therein, in the light of the circumstances
prevailing at that subsequent time, not misleading, the Company will promptly notify the
Representatives and will promptly amend or supplement, at its own expense, such Issuer Free
Writing Prospectus to eliminate or correct such conflict, untrue statement or omission. The
foregoing does not apply to statements in or omissions from any Issuer Free Writing
Prospectus containing and with respect to the Underwriter Information.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <I>Blue Sky Qualifications</I>. The Company will use its commercially reasonable efforts,
in cooperation with the Underwriters, to qualify the Securities for offering and sale under
the applicable securities laws of such states and other jurisdictions (domestic or foreign)
as the Representatives may designate and to maintain such qualifications in effect for a
period of not less than one year from the date hereof; provided, however, that the Company
shall not be obligated to file any general consent to service of process or to qualify as a
foreign corporation or as a dealer in securities in any jurisdiction in which it is not so
qualified or to subject itself to taxation in respect of doing business in any jurisdiction
in which it is not otherwise so subject.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) <I>Rule&nbsp;158</I>. The Company will timely file such reports pursuant to the 1934 Act as
are necessary in order to make generally available to its securityholders as soon as
practicable an earnings statement for the purposes of, and to provide to the Underwriters
the benefits contemplated by, the last paragraph of Section 11(a) of the 1933 Act.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) <I>Use of Proceeds</I>. The Company will use the net proceeds received by it from the
sale of the Securities in the manner specified in the General Disclosure Package and
Prospectus under &#147;Use of Proceeds.&#148;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <I>Listing</I>. The Company will use its best efforts to effect the listing of the
Securities on the NYSE.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) <I>Restriction on Sale of Securities</I>. During a period of 60&nbsp;days from the date of the
Prospectus, the Company will not, without the prior written consent of the Representatives,
(i)&nbsp;directly or indirectly, offer, pledge, sell, contract to sell, sell any option or
contract to purchase, purchase any option or contract to sell, grant any option, right or
warrant to purchase or otherwise transfer or dispose of any share of Common Stock or any
securities convertible into or exercisable or exchangeable for Common Stock or file, amend
or supplement any registration statement under the 1933 Act with respect to effecting any of
the foregoing (other than with respect to the Securities) or (ii)&nbsp;enter into any swap or any
other agreement or any transaction that transfers, in whole or in part, directly or
indirectly, the economic consequence of ownership of the Common Stock, whether any such swap
or transaction described in clause (i)&nbsp;or (ii)&nbsp;above is to be settled by delivery of Common
Stock or such other securities, in cash or otherwise. The foregoing sentence shall not
apply to (A)&nbsp;the Securities to be sold hereunder, (B)&nbsp;any shares of Common Stock issued by
the Company upon the exercise of an option or warrant or the conversion of a security
outstanding on the date hereof and referred to in the Prospectus, (C)&nbsp;any shares of Common
Stock issued or options to purchase Common Stock granted pursuant to existing employee
benefit plans of the Company referred to in the Prospectus or (D)&nbsp;any shares of Common Stock
issued by the Company pursuant to the dividends or distributions payable to holders of the
Common Stock generally consistent with expectations disclosed by the Company
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">in the Registration Statement, Prospectus and General Disclosure Package or (E)
registration statements on Form&nbsp;S-8. Notwithstanding the foregoing, if (1)&nbsp;during the last
17&nbsp;days of the 60-day restricted period the Company issues an earnings release or material
news or a material event relating to the Company occurs or (2)&nbsp;prior to the expiration of
the 60-day restricted period, the Company announces that it will release earnings results or
becomes aware that material news or a material event will occur during the 16-day period
beginning on the last day of the 60-day restricted period, the restrictions imposed in this
clause (j)&nbsp;shall continue to apply until the expiration of the 18-day period beginning on
the issuance of the earnings release or the occurrence of the material news or material
event.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) <I>Reporting Requirements</I>. During the period when the Prospectus is required to be
delivered under the 1933 Act and 1933 Act Regulations in connection with the sale of the
Securities, the Company, will file all documents required to be filed with the Commission
pursuant to the 1934 Act within the time periods required by the 1934 Act and the 1934 Act
Regulations.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) <I>Issuer Free Writing Prospectuses. </I>The Company represents and agrees that, unless
it obtains the prior consent of the Representatives, and each Underwriter represents and
agrees that, unless it obtains the prior consent of the Company and the Representatives, it
has not made and will not make any offer relating to the Securities that would constitute an
&#147;issuer free writing prospectus,&#148; as defined in Rule&nbsp;433, or that would otherwise constitute
a &#147;free writing prospectus,&#148; as defined in Rule&nbsp;405, required to be filed with the
Commission. Any such free writing prospectus consented to by the Representatives or by the
Company and the Representatives, as the case may be, is hereinafter referred to as a
&#147;Permitted Free Writing Prospectus.&#148; The Company represents that it has treated or agrees
that it will treat each Permitted Free Writing Prospectus as an &#147;issuer free writing
prospectus,&#148; as defined in Rule&nbsp;433, and has complied and will comply with the requirements
of Rule&nbsp;433 applicable to any Permitted Free Writing Prospectus, including timely filing
with the Commission where required, legending and record keeping.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) <I>Share Price Manipulation. </I>The Company agrees that it will not, and will cause its
respective officers and directors and their respective subsidiaries and, to the extent
practical, joint ventures, not to, take, directly or indirectly, any action, in violation of
any applicable law, designed to, or that might be reasonably expected to, cause or result in
stabilization or manipulation of the price of the Securities to facilitate the sale or
resale of the Securities, provided that the Company may bid for and purchase its Common
Stock in accordance with Rule&nbsp;10b-18 under the 1934 Act.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) <I>REIT Qualification. </I>The Company will use its best efforts to continue to meet the
requirements for qualification and taxation as a REIT under the Code, subject to any future
determination by the Company&#146;s board of directors that it is no longer in the Company&#146;s best
interests to qualify as a REIT.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) <I>Investment Company Act. </I>The Company will use its best efforts to conduct its
affairs and the affairs of its subsidiaries in such a manner so as to ensure that neither
the Company nor any of its subsidiaries will be an &#147;investment company&#148; (as defined in the
1940 Act) or an entity &#147;controlled&#148; by an investment company that is required to be
registered under the 1940 Act, subject to any future determination by the Company&#146;s board of
directors that it is no longer in the Company&#146;s best interests to conduct its affairs and
the affairs of its subsidiaries in such a manner.
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) <I>Undertakings</I>. The Company will comply with all of the provisions of any
undertakings in the Registration Statement
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) <I>Transfer Agent</I>. The Company has engaged and will maintain, at its sole expense, a
registrar and transfer agent for the Securities
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r) <I>Liability Insurance</I>. The Company will maintain, as appropriate, directors and
officers liability insurance in an amount deemed advisable by the Company in its reasonable
discretion subject to any future determination by the Company&#146;s board of directors that it
is no longer in the Company&#146;s best interests to maintain such liability insurance.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 4. <U>Payment of Expenses</U>. (a) <I>Expenses</I>. The Company will pay all expenses
incident to the performance of its obligations under this Agreement, including (i)&nbsp;the preparation,
printing and filing of the Registration Statement (including financial statements and exhibits) as
originally filed and of each amendment thereto, (ii)&nbsp;the preparation, printing and delivery to the
Underwriters of this Agreement, any Agreement among Underwriters and such other documents as may be
required in connection with the offering, purchase, sale, issuance or delivery of the Securities,
(iii)&nbsp;the preparation, issuance and delivery of the certificates for the Securities to the
Underwriters, including any stock or other transfer taxes and any stamp or other duties payable
upon the sale, issuance or delivery of the Securities to the Underwriters, (iv)&nbsp;the fees and
disbursements of the Company&#146;s counsel, accountants and other advisors, (v)&nbsp;the qualification of
the Securities under securities laws in accordance with the provisions of Section 3(f) hereof,
including filing fees and the reasonable fees and disbursements of counsel for the Underwriters in
connection therewith and in connection with the preparation of the Blue Sky Survey and any
supplement thereto, (vi)&nbsp;the printing and delivery to the Underwriters of copies of each
preliminary prospectus, any Permitted Free Writing Prospectus, and of the Prospectus and any
amendments or supplements thereto and any costs associated with electronic delivery of any of the
foregoing by the Underwriters to investors, (vii)&nbsp;the preparation, printing and delivery to the
Underwriters of copies of the Blue Sky Survey and any supplement thereto, (viii)&nbsp;the fees and
expenses of any transfer agent or registrar for the Securities, (ix)&nbsp;the costs and expenses of the
Company relating to investor presentations on any &#147;road show&#148; undertaken in connection with the
marketing of the Securities, including without limitation, expenses associated with the production
of road show slides and graphics, fees and expenses of any consultants engaged in connection with
the road show presentations, travel and lodging expenses of the representatives and officers of the
Company and any such consultants, and 50% of the cost of aircraft and other transportation
chartered in connection with the road show, (x)&nbsp;all costs and expenses of the Underwriters,
including the reasonable fees and disbursements of counsel for the Underwriters, in connection with
matters related to the Reserved Securities which are designated by the Company for sale to Invitees
and (xi)&nbsp;the fees and expenses incurred in connection with the listing of the Securities on the
NYSE. Except as provided in this Section&nbsp;4, Section&nbsp;6 and Section&nbsp;7 and 9(b), or otherwise
expressly set forth herein, the Underwriters shall pay their own expenses, including the fees and
disbursements of their counsel.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;<I>Expenses Upon Termination of Agreement</I>. If this Agreement is terminated by the
Representatives in accordance with the provisions of Section&nbsp;5 or Section&nbsp;9(a)(i) hereof, the
Company shall reimburse the Underwriters for all of their reasonable and actual out-of-pocket
expenses, including the reasonable fees and disbursements of counsel for the Underwriters.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 5. <U>Conditions of Underwriters&#146; Obligations</U>. The obligations of the several
Underwriters hereunder are subject to the accuracy of the representations and warranties of the
Company contained herein or in certificates of any officer of the Company or any Subsidiary of the
Company delivered pursuant to the provisions hereof, to the performance by the Company of its
covenants and other obligations hereunder, and to the following further conditions:
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;<I>Effectiveness of Registration Statement; Filing of Prospectus; Payment of Filing Fee</I>. The
Registration Statement has become effective and at Closing Time no stop order suspending the
effectiveness of the Registration Statement shall have been issued under the 1933 Act or
proceedings therefor initiated or threatened by the Commission, and any request on the part of the
Commission for additional information shall have been complied with to the reasonable satisfaction
of counsel to the Underwriters. The Prospectus containing the Rule&nbsp;430B Information shall have
been filed with the Commission in the manner and within the time period required by Rule 424(b)
without reliance on Rule&nbsp;424(b)(8) (or a post-effective amendment providing such information shall
have been filed and become effective in accordance with the requirements of Rule&nbsp;430B). The
Company shall have paid the required Commission filing fees relating to the Securities within the
time period required by the 1933 Act Regulations.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;<I>Opinion of Counsel and Tax Advisor for Company</I>. At Closing Time, the Representatives
shall have received the favorable opinions, dated as of Closing Time, of (i)&nbsp;King &#038; Spalding LLP,
counsel for the Company, and (ii)&nbsp;Deloitte Tax LLP, tax advisor to the Company, each in form and
substance reasonably satisfactory to counsel for the Underwriters, together with signed or
reproduced copies of such letters for each of the other Underwriters to the effect set forth in
<U>Exhibit&nbsp;A</U> and <U>Exhibit&nbsp;B</U> hereto, respectively, and to such further effect as counsel
to the Underwriters may reasonably request.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;<I>Opinion of Counsel for Underwriters</I>. At Closing Time, the Representatives shall have
received the favorable opinion, dated as of Closing Time, of Hunton &#038; Williams LLP, counsel for the
Underwriters, together with signed or reproduced copies of such letter for each of the other
Underwriters in a form and substance satisfactory to the Representatives.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;<I>Officers&#146; Certificate</I>. At Closing Time, there shall not have been, since the date hereof,
since the Applicable Time or since the respective dates as of which information is given in the
Prospectus or the General Disclosure Package, in the reasonable judgment of the Representatives,
any Material Adverse Effect and the Representatives shall have received a certificate of the
President or a Vice President of the Company and of the chief financial or chief accounting officer
of the Company, in their respective capacities as such officers, dated as of Closing Time, to the
effect that (i)&nbsp;there has been no such Material Adverse Effect, (ii)&nbsp;the representations and
warranties contained in this Agreement are true and correct as of Closing Time with the same force
and effect as though expressly made at and as of Closing Time (except that to the extent that such
representations or warranties speak as of another date, in which case such representations and
warranties shall be true and correct as of such other date), (iii)&nbsp;the Company has complied with
all agreements hereunder and satisfied all conditions on its part to be performed or satisfied
hereunder at or prior to Closing Time, and (iv)&nbsp;no stop order suspending the effectiveness of the
Registration Statement has been issued and no proceedings for that purpose have been instituted or
are pending or, to their knowledge, contemplated by the Commission.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;<I>Accountant&#146;s Comfort Letter</I>. At the time of the execution of this Agreement, the
Representatives shall have received from Deloitte &#038; Touche LLP a letter dated such date, in form
and substance reasonably satisfactory to the Representatives, together with signed or reproduced
copies of such letter for each of the other Underwriters containing statements and information of
the type ordinarily included in accountants&#146; &#147;comfort letters&#148; to underwriters with respect to the
financial statements and certain financial information contained in the Registration Statement,
General Disclosure Package and the Prospectus.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;<I>Bring-down Comfort Letter</I>. At Closing Time, the Representatives shall have received from
Deloitte &#038; Touche LLP a letter, dated as of Closing Time, to the effect that they reaffirm the
statements made in the letter furnished pursuant to subsection (e)&nbsp;of this Section, except that the
specified
date referred to therein for the carrying out of procedures shall be a date not more than
three business days prior to Closing Time.
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;<I>Approval of Listing</I>. At Closing Time, the Securities shall have been approved for listing
on the NYSE, subject only to official notice of issuance.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;<I>Lock-up Agreements</I>. At the date of this Agreement, the Representatives shall have
received an agreement substantially in the form of <U>Exhibit&nbsp;C</U> hereto signed by the persons
listed on Schedule&nbsp;G hereto.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;<I>Conditions to Purchase of Option Securities</I>. In the event that the Underwriters exercise
their option provided in Section 2(b) hereof to purchase all or any portion of the Option
Securities, the representations and warranties of the Company contained herein and the statements
in any certificates furnished by the Company or any subsidiary of the Company hereunder shall be
true and correct as of each Date of Delivery and, at the relevant Date of Delivery, the
Representatives shall have received:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <U>Officers&#146; Certificate</U>. A certificate, dated such Date of Delivery, of the
President or a Vice President of the Company and of the chief financial or chief accounting
officer of the Company, in their respective capacities as such officers, confirming that the
certificate delivered at the Closing Time pursuant to Section 5(d) hereof remains true and
correct as of such Date of Delivery.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) <U>Opinion of Counsel for Company</U>. The favorable opinions of (a)&nbsp;King &#038;
Spalding LLP, counsel for the Company, and (b)&nbsp;Deloitte Tax LLP, tax advisor for the
Company, each in form and substance reasonably satisfactory to counsel for the Underwriters,
dated such Date of Delivery, relating to the Option Securities to be purchased on such Date
of Delivery and otherwise to the same effect as the opinion required by Section 5(b) hereof.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) <U>Opinion of Counsel for Underwriters</U>. The favorable opinion of Hunton &#038;
Williams LLP, counsel for the Underwriters, dated such Date of Delivery, relating to the
Option Securities to be purchased on such Date of Delivery and otherwise to the same effect
as the opinion required by Section 5(c) hereof.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) <U>Bring-down Comfort Letter</U>. A letter from Deloitte &#038; Touche LLP, in form
and substance reasonably satisfactory to the Representatives and dated such Date of
Delivery, substantially in the same form and substance as the letter furnished to the
Representatives pursuant to Section 5(f) hereof, except that the &#147;specified date&#148; in the
letter furnished pursuant to this paragraph shall be a date not more than five days prior to
such Date of Delivery.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;<I>Additional Documents</I>. At Closing Time and at each Date of Delivery, counsel for the
Underwriters shall have been furnished with such documents and opinions as they may reasonably
require for the purpose of enabling them to pass upon the issuance and sale of the Securities as
herein contemplated, or in order to evidence the accuracy of any of the representations or
warranties, or the fulfillment of any of the conditions, herein contained; and all proceedings
taken by the Company in connection with the issuance and sale of the Securities as herein
contemplated shall be reasonably satisfactory in form and substance to the Representatives and
counsel for the Underwriters.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) <I>Termination of Agreement</I>. If any condition specified in this Section shall not have been
fulfilled when and as required to be fulfilled, this Agreement, or, in the case of any condition to
the purchase of Option Securities, on a Date of Delivery which is after the Closing Time, the
obligations of the several Underwriters to purchase the relevant Option Securities, may be
terminated by the
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Representatives by notice to the Company at any time at or prior to Closing Time or such Date
of Delivery, as the case may be, and such termination shall be without liability of any party to
any other party except as provided in Section&nbsp;4 and except that Sections&nbsp;1, 6, 7 and 8 shall
survive any such termination and remain in full force and effect.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 6. <U>Indemnification</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;<I>Indemnification of Underwriters</I>. The Company agrees to indemnify and hold harmless each
Underwriter, its affiliates, as such term is defined in Rule 501(b) under the 1933 Act (each, an
&#147;Affiliate&#148;), its selling agents and each person, if any, who controls any Underwriter within the
meaning of Section&nbsp;15 of the 1933 Act or Section&nbsp;20 of the 1934 Act as follows:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) against any and all loss, liability, claim, damage and expense whatsoever, as
incurred, arising out of any untrue statement or alleged untrue statement of a material fact
contained in the Registration Statement (or any amendment thereto), including the Rule&nbsp;430B
Information, or the omission or alleged omission therefrom of a material fact required to be
stated therein or necessary to make the statements therein not misleading or arising out of
any untrue statement or alleged untrue statement of a material fact included in any
preliminary prospectus, any Issuer Free Writing Prospectus, the General Disclosure Package
or the Prospectus (or any amendment or supplement thereto), or the omission or alleged
omission therefrom of a material fact necessary in order to make the statements therein, in
the light of the circumstances under which they were made, not misleading;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) against any and all loss, liability, claim, damage and expense whatsoever, as
incurred, to the extent of the aggregate amount paid in settlement of any litigation, or any
investigation or proceeding by any governmental agency or body, commenced or threatened, or
of any claim based upon any such untrue statement or omission, or any such alleged untrue
statement or omission; provided that (subject to Section 6(d) below) any such settlement is
effected with the written consent of the Company;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) against any and all expense, as incurred (including, subject to Section 6(c)
below, the reasonable fees and disbursements of one counsel chosen by the Representatives),
reasonably incurred by such Underwriters in investigating, preparing or defending against
any litigation, or any investigation or proceeding by any governmental agency or body,
commenced or threatened, or any claim whatsoever based upon any such untrue statement or
omission, or any such alleged untrue statement or omission, to the extent that any such
expense is not paid under (i)&nbsp;or (ii)&nbsp;above;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%"><U>provided</U>, <U>however</U>, that this indemnity agreement shall not apply to any
loss, liability, claim, damage or expense to the extent arising out of any untrue statement
or omission or alleged untrue statement or omission made in reliance upon and in conformity
with (1)&nbsp;written information furnished to the Company by any Underwriter through the
Representatives expressly for use in the Registration Statement (or any amendment thereto),
including the Rule&nbsp;430B Information, or any preliminary prospectus, any Issuer Free Writing
Prospectus or the Prospectus (or any amendment or supplement thereto it being understood and
agreed that the Underwriter Information constitutes all of such information) or (2)&nbsp;the
information contained in any Statement of Eligibility of a trustee filed as an exhibit to
the Registration Statement.
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;<I>Indemnification of Company, Directors and Officers</I>. Each Underwriter severally agrees to
indemnify and hold harmless the Company, its directors, each of its officers who signed the
Registration Statement, and each person, if any, who controls the Company within the meaning of
Section
15 of the 1933 Act or Section&nbsp;20 of the 1934 Act against any and all loss, liability, claim,
damage and expense described in the indemnity contained in subsection (a)&nbsp;of this Section, as
incurred, but only with respect to untrue statements or omissions, or alleged untrue statements or
omissions, made in the Registration Statement (or any amendment thereto), including the Rule&nbsp;430B
Information or any preliminary prospectus, any Issuer Free Writing Prospectus or the Prospectus (or
any amendment or supplement thereto) in reliance upon and in conformity with written information
furnished to the Company by such Underwriter through the Representatives expressly for use therein,
it being understood that the information set forth in the statements set forth under the caption
&#147;Underwriting&#148; in the Statutory Prospectus and Prospectus as follows: paragraph five relating to
commissions and discounts, the second sentence of paragraph 13, the first, second fourth and fifth
sentences of paragraph 14 relating to price stabilization, and paragraph 17 constitutes all of such
information (the &#147;Underwriter Information&#148;).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;<I>Actions against Parties; Notification</I>. Each indemnified party shall give written notice
as promptly as reasonably practicable to each indemnifying party of any action commenced against it
in respect of which indemnity may be sought hereunder, but failure to so notify an indemnifying
party shall not relieve such indemnifying party from any liability hereunder to the extent it is
not materially prejudiced as a result thereof and in any event shall not relieve it from any
liability which it may have otherwise than on account of this indemnity agreement. In the event an
indemnifying party is relieved from any liability hereunder because such indemnifying party was
materially prejudiced as a result of not being notified of an action as described above, such
relief from liability shall be limited only to the extent of such prejudice. In the case of
parties indemnified pursuant to Section 6(a) above, counsel to the indemnified parties shall be
selected by the Representatives, and, in the case of parties indemnified pursuant to Section 6(b)
above, counsel to the indemnified parties shall be selected by the Company; provided, however, that
such counsel shall be reasonably satisfactory to the indemnifying party. An indemnifying party may
participate at its own expense in the defense of any such action; <U>provided</U>,
<U>however</U>, that counsel to the indemnifying party shall not (except with the consent of the
indemnified party) also be counsel to the indemnified party. In no event shall the indemnifying
parties be liable for reasonable fees and expenses of more than one counsel (in addition to any
local counsel) separate from their own counsel for all indemnified parties in connection with any
one action or separate but similar or related actions in the same jurisdiction arising out of the
same general allegations or circumstances. No indemnifying party shall, without the prior written
consent of the indemnified parties, settle or compromise or consent to the entry of any judgment
with respect to any litigation, or any investigation or proceeding by any governmental agency or
body, commenced or threatened, or any claim whatsoever in respect of which indemnification or
contribution could be sought under this Section&nbsp;6 or Section&nbsp;7 hereof (whether or not the
indemnified parties are actual or potential parties thereto), unless such settlement, compromise or
consent (i)&nbsp;includes an unconditional release of each indemnified party from all liability arising
out of such litigation, investigation, proceeding or claim and (ii)&nbsp;does not include a statement as
to or an admission of fault, culpability or a failure to act by or on behalf of any indemnified
party.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;<I>Settlement without Consent if Failure to Reimburse</I>. If at any time an indemnified party
shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses
of counsel, such indemnifying party agrees that it shall be liable for any settlement of the nature
contemplated by Section&nbsp;6(a)(ii) or settlement of any claim in connection with any violation
referred to in Section 6(e) effected without the indemnifying party&#146;s prior written consent which
shall otherwise be required prior to entering into such settlement if (i)&nbsp;such settlement is
entered into more than 45&nbsp;days after receipt by such indemnifying party of the aforesaid request,
(ii)&nbsp;such indemnifying party shall have received notice of the terms of such settlement at least 30
days prior to such settlement being entered into and (iii)&nbsp;such indemnifying party shall not have
reimbursed such indemnified party in accordance with such request prior to the date of such
settlement.
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;<I>Indemnification for Reserved Securities</I>. In connection with the offer and sale of the
Reserved Securities, the Company agrees to indemnify and hold harmless the Underwriters, their
Affiliates and selling agents and each person, if any, who controls any Underwriter within the
meaning of either Section&nbsp;15 of the 1933 Act or Section&nbsp;20 of the 1934 Act, from and against any
and all loss, liability, claim, damage and expense (including, without limitation, any legal or
other expenses reasonably incurred in connection with defending, investigating or settling any such
action or claim), as incurred, (i)&nbsp;arising out of the violation of any applicable laws or
regulations of foreign jurisdictions where Reserved Securities have been offered; (ii)&nbsp;arising out
of any untrue statement or alleged untrue statement of a material fact contained in any prospectus
wrapper or other material prepared by or with the consent of the Company for distribution to
Invitees in connection with the offering of the Reserved Securities or caused by any omission or
alleged omission to state therein a material fact required to be stated therein or necessary to
make the statements therein not misleading; (iii)&nbsp;caused by the failure of any Invitee to pay for
and accept delivery of Reserved Securities which have been orally confirmed for purchase by any
Invitee by the end of the first business day after the date of the Agreement; or (iv)&nbsp;related to,
or arising out of or in connection with, the offering of the Reserved Securities.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 7. <U>Contribution</U>. If the indemnification provided for in Section&nbsp;6 hereof is
for any reason unavailable to or insufficient to hold harmless an indemnified party in respect of
any losses, liabilities, claims, damages or expenses referred to therein, then each indemnifying
party shall contribute to the aggregate amount of such losses, liabilities, claims, damages and
expenses incurred by such indemnified party, as incurred, (i)&nbsp;in such proportion as is appropriate
to reflect the relative benefits received by the Company on the one hand and the Underwriters on
the other hand from the offering of the Securities pursuant to this Agreement or (ii)&nbsp;if the
allocation provided by clause (i)&nbsp;is not permitted by applicable law, in such proportion as is
appropriate to reflect not only the relative benefits referred to in clause (i)&nbsp;above but also the
relative fault of the Company on the one hand and of the Underwriters on the other hand in
connection with the statements or omissions, or in connection with any violation of the nature
referred to in Section 6(e) hereof<B>, </B>which resulted in such losses, liabilities, claims, damages or
expenses, as well as any other relevant equitable considerations.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The relative benefits received by the Company on the one hand and the Underwriters on the
other hand in connection with the offering of the Securities pursuant to this Agreement shall be
deemed to be in the same respective proportions as the total net proceeds from the offering of the
Securities pursuant to this Agreement (before deducting expenses) received by the Company and the
total underwriting discount received by the Underwriters, in each case as set forth on the cover of
the Prospectus bear to the aggregate public offering price of the Securities as set forth on the
cover of the Prospectus.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The relative fault of the Company on the one hand and the Underwriters on the other hand shall
be determined by reference to, among other things, whether any such untrue or alleged untrue
statement of a material fact or omission or alleged omission to state a material fact relates to
information supplied by the Company or by the Underwriters and the parties&#146; relative intent,
knowledge, access to information and opportunity to correct or prevent such statement or omission,
or any violation of the nature referred to in Section 6(e) hereof<B>.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company and the Underwriters agree that it would not be just and equitable if contribution
pursuant to this Section&nbsp;7 were determined by pro rata allocation (even if the Underwriters were
treated as one entity for such purpose) or by any other method of allocation which does not take
account of the equitable considerations referred to above in this Section&nbsp;7. The aggregate amount
of losses, liabilities, claims, damages and expenses incurred by an indemnified party and referred
to above in this Section&nbsp;7 shall be deemed to include any legal or other expenses reasonably
incurred by such indemnified party in investigating, preparing or defending against any litigation,
or any investigation or proceeding by any
governmental agency or body, commenced or threatened, or any claim whatsoever based upon any
such untrue or alleged untrue statement or omission or alleged omission.
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the provisions of this Section&nbsp;7, (i)&nbsp;no Underwriter shall be required to
contribute an amount in excess of the underwriting discounts and commissions applicable to the
Securities purchased by such Underwriter and (ii)&nbsp;no person guilty of fraudulent misrepresentation
(within the meaning of Section 11(f) of the 1933 Act) shall be entitled to contribution from any
person who was not guilty of such fraudulent misrepresentation.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For purposes of this Section&nbsp;7, each person, if any, who controls an Underwriter within the
meaning of Section&nbsp;15 of the 1933 Act or Section&nbsp;20 of the 1934 Act and each Underwriter&#146;s
Affiliates and selling agents shall have the same rights to contribution as such Underwriter, and
each director of the Company, each officer of the Company who signed the Registration Statement,
and each person, if any, who controls the Company within the meaning of Section&nbsp;15 of the 1933 Act
or Section&nbsp;20 of the 1934 Act shall have the same rights to contribution as the Company. The
Underwriters&#146; respective obligations to contribute pursuant to this Section&nbsp;7 are several in
proportion to the number of Initial Securities set forth opposite their respective names in
Schedule&nbsp;A hereto and not joint.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 8. <U>Representations, Warranties and Agreements to Survive</U>. All
representations, warranties and agreements contained in this Agreement or in certificates of
officers of the Company or any of its Subsidiaries submitted pursuant hereto, shall remain
operative and in full force and effect regardless of (i)&nbsp;any investigation made by or on behalf of
any Underwriter or its Affiliates or selling agents, any person controlling any Underwriter, its
officers or directors or any person controlling the Company and (ii)&nbsp;delivery of and payment for
the Securities.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 9. <U>Termination of Agreement</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;<I>Termination; General</I>. The Representatives may terminate this Agreement, by notice to the
Company, at any time at or prior to Closing Time (i)&nbsp;if there has been, since the time of execution
of this Agreement or since the respective dates as of which information is given in the Prospectus
(exclusive of any supplement thereto) or the General Disclosure Package, any Material Adverse
Effect, or (ii)&nbsp;if there has occurred any material adverse change in the financial markets in the
United States or the international financial markets, any outbreak of hostilities or escalation
thereof or other calamity or crisis or any change or development involving a prospective change in
national or international political, financial or economic conditions, in each case the effect of
which is such as to make it, in the judgment of the Representatives, impracticable or inadvisable
to market the Securities or to enforce contracts for the sale of the Securities, or (iii)&nbsp;if
trading in any securities of the Company has been suspended or materially limited by the Commission
or the NYSE or if trading generally on the NYSE AMEX or in the Nasdaq National Market has been
suspended or materially limited, or minimum or maximum prices for trading have been fixed, or
maximum ranges for prices have been required, by any of said exchanges or by such system or by
order of the Commission, the FINRA or any other governmental, quasi-governmental or self-regulatory
authority, or (iv)&nbsp;a material disruption has occurred in commercial banking or securities
settlement or clearance services in the United States or with respect to Clearstream or Euroclear
systems in Europe, or (v)&nbsp;if a banking moratorium has been declared by either Federal or New York
authorities.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;<I>Liabilities</I>. If this Agreement is terminated pursuant to this Section, such termination
shall be without liability of any party to any other party except as provided in Section&nbsp;4 hereof,
and provided further that Sections&nbsp;1, 6, 7 and 8 shall survive such termination and remain in full
force and effect.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->27<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 10. <U>Default by One or More of the Underwriters</U>. If one or more of the
Underwriters shall fail at Closing Time or a Date of Delivery to purchase the Securities which it
or they are obligated to purchase under this Agreement (the &#147;Defaulted Securities&#148;), the
Representatives shall have the right, within 24 hours thereafter, to make arrangements for one or
more of the non-defaulting Underwriters, or any other underwriters, to purchase all, but not less
than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms
herein set forth; if, however, the Representatives shall not have completed such arrangements
within such 24-hour period, then:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) if the number of Defaulted Securities does not exceed 10% of the total number of
Securities to be purchased on such date, each of the non-defaulting Underwriters shall be
obligated, severally and not jointly, to purchase the full amount thereof in the proportions
that their respective underwriting obligations hereunder bear to the underwriting
obligations of all non-defaulting Underwriters, or
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) if the number of Defaulted Securities exceeds 10% of the total number of
Securities to be purchased on such date, this Agreement or, with respect to any Date of
Delivery which occurs after the Closing Time, the obligation of the Underwriters to purchase
and of the Company to sell the Option Securities to be purchased and sold on such Date of
Delivery shall terminate without liability on the part of any non-defaulting Underwriter
(provided that if such Defaulted Securities relate to Option Securities after the Closing
Time, this Agreement will not terminate as to the Initial Securities purchased prior to such
termination).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No action taken pursuant to this Section shall relieve any defaulting Underwriter from
liability in respect of its default.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the event of any such default which does not result in a termination of this Agreement or,
in the case of a Date of Delivery which is after the Closing Time, which does not result in a
termination of the obligation of the Underwriters to purchase and the Company to sell the relevant
Option Securities, as the case may be, either the Representatives or the Company shall have the
right to postpone Closing Time or the relevant Date of Delivery, as the case may be, for a period
not exceeding seven days in order to effect any required changes in the Registration Statement or
Prospectus or in any other documents or arrangements. As used herein, the term &#147;Underwriter&#148;
includes any person substituted for an Underwriter under this Section&nbsp;10.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 11. <U>Tax Disclosure</U>. Notwithstanding any other provision of this Agreement,
from the commencement of discussions with respect to the transactions contemplated hereby, the
Company (and each employee, representative or other agent of the Company) may disclose to any and
all persons, without limitation of any kind, the tax treatment and tax structure (as such terms are
used in Sections&nbsp;6011, 6111 and 6112 of the U.S. Code and the Treasury Regulations promulgated
thereunder) of the transactions contemplated by this Agreement and all materials of any kind
(including opinions or other tax analyses) that are provided relating to such tax treatment and tax
structure.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 12. <U>Notices</U>. All notices and other communications hereunder shall be in
writing and shall be deemed to have been duly given if mailed or transmitted by any standard form
of telecommunication. Notices to the Underwriters shall be directed to the Representatives at:
</DIV>
<DIV align="left" style="font-size: 10pt; margin-left: 49%; margin-top: 16pt">Merrill Lynch, Pierce, Fenner &#038; Smith Incorporated<BR>
One Bryant Park<BR>
New York, NY 10036<BR>
Facsimile: (646)&nbsp;855 3073<BR>
Attention: Syndicate Department
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->28<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-left: 49%; margin-top: 6pt">with a copy to:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-left: 49%; margin-top: 6pt">Merrill Lynch, Pierce, Fenner &#038; Smith Incorporated<BR>
One Bryant Park<BR>
New York, NY 10036<BR>
Facsimile: (212)&nbsp;230-8730<BR>
Attention: ECM Legal
</DIV>

<DIV align="left" style="font-size: 10pt; margin-left: 49%; margin-top: 6pt">and
</DIV>

<DIV align="left" style="font-size: 10pt; margin-left: 49%; margin-top: 6pt">Morgan Stanley &#038; Co. Incorporated<BR>
1585 Broadway<BR>
New York, NY 10036<BR>
Facsimile: (212)&nbsp;507-5089<BR>
Attention: Equity Capital Markets Syndicate Desk
</DIV>

<DIV align="left" style="font-size: 10pt; margin-left: 49%; margin-top: 6pt">and
</DIV>

<DIV align="left" style="font-size: 10pt; margin-left: 49%; margin-top: 6pt">J.P. Morgan Securities Inc.<BR>
383 Madison Avenue<BR>
New York, NY 10179<BR>
Facsimile: (212)&nbsp;622-8358<BR>
Attention: Syndicate Desk
</DIV>

<DIV align="left" style="font-size: 10pt; margin-left: 49%; margin-top: 6pt">and, in each case, with a further copy to:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-left: 49%; margin-top: 6pt">Hunton &#038; Williams LLP<BR>
600 Peachtree Street, N.E., Suite&nbsp;4100<BR>
Atlanta, GA, 30308<BR>
Facsimile: (404)&nbsp;888-4190<BR>
Attention: Ronald J. Lieberman, Esq.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-left: 36%; margin-top: 6pt">Notices to the Company shall be directed to it at:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-left: 49%; margin-top: 6pt">191 Peachtree Street N.E., Suite&nbsp;3600<BR>
Atlanta, GA, 30303<BR>
Facsimile: (404)&nbsp;407-1311<BR>
Attention: Robert M. Jackson, Esq., General Counsel
</DIV>

<DIV align="left" style="font-size: 10pt; margin-left: 49%; margin-top: 6pt">with a copy to:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-left: 49%; margin-top: 6pt">King &#038; Spalding LLP<BR>
1180 Peachtree Street N.E.,<BR>
Atlanta, GA, 30309<BR>
Facsimile: (404)&nbsp;572-5133<BR>
Attention: Alan J. Prince, Esq.
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->29<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 13. <U>No Advisory or Fiduciary Relationship</U>. The Company acknowledges and
agrees that (a)&nbsp;the purchase and sale of the Securities pursuant to this Agreement, including the
determination of the public offering price of the Securities and any related discounts and
commissions, is an arm&#146;s-length commercial transaction between the Company, on the one hand, and the several Underwriters, on
the other hand, (b)&nbsp;in connection with the offering contemplated hereby and the process leading to
such transaction each Underwriter is and has been acting solely as a principal and is not the agent
or fiduciary of the Company, or its stockholders, creditors, employees or any other party, (c)&nbsp;no
Underwriter has assumed or will assume an advisory or fiduciary responsibility in favor of the
Company with respect to the offering contemplated hereby or the process leading thereto
(irrespective of whether such Underwriter has advised or is currently advising the Company on other
matters) and no Underwriter has any obligation to the Company with respect to the offering
contemplated hereby except the obligations expressly set forth in this Agreement, (d)&nbsp;the
Underwriters and their respective affiliates may be engaged in a broad range of transactions that
involve interests that differ from those of the Company, and (e)&nbsp;the Underwriters have not provided
any legal, accounting, regulatory or tax advice with respect to the offering contemplated hereby
and the Company has consulted its own legal, accounting, regulatory and tax advisors to the extent
it deemed appropriate.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 14. <U>Integration</U>. This Agreement supersedes all prior agreements and
understandings (whether written or oral) between the Company and the Underwriters, or any of them,
with respect to the subject matter hereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 15. <U>Parties</U>. This Agreement shall each inure to the benefit of and be binding
upon the Underwriters and the Company and their respective successors. Nothing expressed or
mentioned in this Agreement is intended or shall be construed to give any person, firm or
corporation, other than the Underwriters and the Company and their respective successors and the
controlling persons and officers and directors referred to in Sections&nbsp;6 and 7 and their heirs and
legal representatives, any legal or equitable right, remedy or claim under or in respect of this
Agreement or any provision herein contained. This Agreement and all conditions and provisions
hereof are intended to be for the sole and exclusive benefit of the Underwriters and the Company
and their respective successors, and said controlling persons and officers and directors and their
heirs and legal representatives, and for the benefit of no other person, firm or corporation. No
purchaser of Securities from any Underwriter shall be deemed to be a successor by reason merely of
such purchase.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 16. <U>TRIAL BY JURY</U>. THE COMPANY (ON ITS BEHALF AND, TO THE EXTENT PERMITTED BY
APPLICABLE LAW, ON BEHALF OF ITS STOCKHOLDERS AND AFFILIATES) AND EACH OF THE UNDERWRITERS HEREBY
IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL
BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS
CONTEMPLATED HEREBY.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 17. <U>GOVERNING LAW</U>. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 18. <U>TIME</U>. TIME SHALL BE OF THE ESSENCE OF THIS AGREEMENT. EXCEPT AS
OTHERWISE SET FORTH HEREIN, SPECIFIED TIMES OF DAY REFER TO NEW YORK CITY TIME.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 19. <U>Counterparts</U>. This Agreement may be executed in any number of
counterparts (including by facsimile transmission), each of which shall be deemed to be an
original, but all such counterparts shall together constitute one and the same Agreement. A
facsimile signature shall constitute an original signature for all purposes hereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 20. <U>Effect of Headings</U>. The Section headings herein are for convenience only
and shall not affect the construction hereof.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->30<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If the foregoing is in accordance with your understanding of our agreement, please sign and
return to the Company a counterpart hereof, whereupon this instrument, along with all counterparts,
will become a binding agreement between the Underwriters and the Company in accordance with its
terms.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Very truly yours,<BR>
<BR>
<BR>
COUSINS PROPERTIES INCORPORATED<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>

<TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/
James A. Fleming&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD align="left">James A. Fleming</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD align="left">Executive V.P. &#038; CFO</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="31%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="54%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD colspan="7" valign="top" align="left">CONFIRMED AND ACCEPTED,</TD>
</TR>
<TR valign="bottom">
    <TD colspan="7" valign="top" align="left">as of the date first above written:</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="7" valign="top" align="left">MERRILL LYNCH &#038; CO.</TD>
</TR>
<TR valign="bottom">
    <TD colspan="7" valign="top" align="left">MERRILL LYNCH, PIERCE, FENNER &#038; SMITH</TD>
</TR>
<TR valign="bottom">
    <TD colspan="7" valign="top" align="left">INCORPORATED</TD>
</TR>
<TR valign="bottom">
    <TD colspan="7" valign="top" align="left">MORGAN STANLEY &#038; CO. INCORPORATED</TD>
</TR>
<TR valign="bottom">
    <TD colspan="7" valign="top" align="left">J.P. MORGAN SECURITIES INC.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">By:</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="3" valign="top" align="left">MERRILL LYNCH, PIERCE, FENNER &#038; SMITH</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">INCORPORATED</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ Bradley Smith</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Authorized Signatory</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">By:</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">MORGAN STANLEY &#038; CO. INCORPORATED</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ Christopher Brent Smith</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Authorized Signatory</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">By:</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">J.P. MORGAN SECURITIES INC.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ Eddy Allegaert</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Authorized Signatory</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">For themselves and as Representatives of the other Underwriters named in Schedule&nbsp;A hereto.
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->31<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt">SCHEDULE A
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="88%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Number of</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Initial</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Name of Underwriter</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Securities</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Merrill Lynch, Pierce, Fenner &#038; Smith</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">13,048,516</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Incorporated</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Morgan Stanley &#038; Co. Incorporated</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">13,048,516</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">J.P. Morgan Securities Inc.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,213,612</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Wells Fargo Securities, LLC</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,475,744</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">PNC Capital Markets LLC</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,737,872</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Morgan Keegan &#038; Company, Inc.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,216,508</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">RBS Securities Inc.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,216,508</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Piper Jaffray &#038; Co.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">608,256</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Capital One Southcoast, Inc.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">434,468</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Total</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">40,000,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->Sch A-1<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt">SCHEDULE B
</DIV>


<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">1.</TD>
    <TD>&nbsp;</TD>
    <TD>The price per share for the Securities is $7.25.</TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">2.</TD>
    <TD>&nbsp;</TD>
    <TD>The number of shares of the Securities purchased by the Underwriters is 40,000,000.</TD>
</TR>
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->Sch B-1<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt">SCHEDULE C
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 24pt"><U>EACH ISSUER</U>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U>GENERAL USE FREE WRITING PROSPECTUS</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 16pt">Issuer Free Writing Prospectus filed with the Commission on September&nbsp;15, 2009 between 9:00 p.m.
and 10:00&nbsp;p.m. (EST).
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->Sch C-1<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt">SCHEDULE D
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U>LIST OF SUBSIDIARIES</U>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="88%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">State of Organization</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">250 Williams Street LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">250 Williams Street Manager, Inc.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">3280 Peachtree I, LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">3280 Peachtree III LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">3280 Peachtree IV LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">3280 Peachtree V LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">3280 Peachtree VI LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">615 Peachtree LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Avenue Ridgewalk LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Avenue Webb Gin, LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Blalock Lakes, LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">CCD Juniper LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">CCD 10 Terminus Place LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Cedar Grove Lakes, LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">C-H Associates, Ltd.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Cousins 191 Investor LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Cousins Aircraft Associates, LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Cousins Austin GP, Inc.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Cousins Austin, Inc.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Cousins Condominium Development, LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Cousins Development, Inc.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Cousins, Inc.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Alabama</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Cousins Jefferson Mill, LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Cousins Johnson City LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Cousins King Mill, LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Cousins La Frontera LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Texas</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Cousins MarketCenters, Inc.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Cousins Murfreesboro LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Cousins Properties Palisades LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Texas</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Cousins Properties Services LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Texas</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Cousins Properties Texas LP
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Texas</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Cousins Real Estate Corporation
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Cousins Real Estate Development, Inc.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Cousins Research Park V LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Cousins San Jose MarketCenter, LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Cousins Texas GP Inc.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Cousins Texas LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Cousins Waterview LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">CP - Forsyth Investments LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">CP - Tiffany Springs Investments LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->Sch D-1<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="88%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">State of Organization</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">CP Lakeside 20 GP, LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">CP Lakeside Land GP, LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">CP Sandy Springs LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">CP Texas Industrial LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">CPI 191 LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">CREC LaFrontera LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Texas</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">CREC Property Holdings, LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Delaware</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">IPC Investments II LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">IPC Investments, LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">New Land Realty, LLC d/b/a Blalock Lakes Realty
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">One Ninety One Peachtree Associates LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Pine Mountain Ventures, LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Ridgewalk Funding LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">SONO Renaissance, LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->Sch D-2<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt">SCHEDULE E
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U>LIST OF JOINT VENTURES</U>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="88%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">State of Organization</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">50 Biscayne Venture, LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Delaware</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">905 Juniper Venture, LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Avenue Forsyth LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Bentwater Links, LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">C/W Jefferson Mill I, LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">C/W King Mill I, LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Callaway Gardens Realty, LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Carriage Avenue, LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Delaware</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">CF Murfreesboro Associates
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Delaware</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Charlotte Gateway Village, LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">North Carolina</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">CL Ashton Woods, LP
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Texas</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">CL Realty, L.L.C.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Delaware</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">CL Texas I GP, L.L.C.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">CL Texas I, L.L.C.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">CL Texas, L.P.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Texas</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">CL Westpark, LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Cousins Tiffany Springs MarketCenter LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Cousins/Callaway, LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Cousins/Daniel, LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Cousins/Gude CCHR LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Cousins/Myers II, LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Delaware</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Cousins/Myers Second Street Partners, L.L.C.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Delaware</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">CP Venture Five LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Delaware</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">CP Venture IV Holdings LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Delaware</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">CP Venture LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Delaware</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">CP Venture Six LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Delaware</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">CP Venture Three LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Delaware</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">CP Venture Two LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Delaware</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">CPI/FSP I, L.P.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Texas</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Crawford Long - CPI, LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">CS Lakeside 20 Limited, LLLP
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Texas</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">CS Lakeside Land Limited, LLLP
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Texas</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">CS Lancaster LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Texas</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">CSC Associates, L.P.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Glenmore Garden Villas, LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Delaware</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Handy Road Associates, LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">HM Stonewall Estates, Ltd.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Texas</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Jefferson Mill Project I, LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">LM Development, LP
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Texas</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->Sch E-1<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="88%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">State of Organization</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">LM Farms, Inc.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Texas</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">LM Land Holdings, LP
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Texas</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">McKinney Village Park North, L.P.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Texas</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">McKinney Village Park, L.P.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Texas</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">New Georgian LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Nonami Aircraft Facility Associates LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">P12025 LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Palisades West LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Delaware</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Pine Mountain Builders, LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Seven Hills Homes, L.L.C.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Seven Hills Station LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Summer Creek Development, Ltd.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Texas</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Temco Associates LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Ten Peachtree Place Associates
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Terminus 200, LLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">TGR Golf, L.P.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">TGR Land, L.P.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">TRG Columbus Development Venture, Ltd
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Florida</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Wildwood Associates
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">Georgia</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->Sch E-2<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt">SCHEDULE F
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>COUSINS PROPERTIES INCORPORATED</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">40,000,000 Shares of Common Stock
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">(Par Value $1.00 Per Share)
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 26pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;The public offering price per share for the Securities, determined as provided in said
Section&nbsp;2, shall be $7.25.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;The purchase price per share for the Securities to be paid by the several Underwriters
shall be $6.9419, being an amount equal to the public offering price set forth above less $0.3081
per share; provided that the purchase price per share for any Option Securities purchased upon the
exercise of the overallotment option described in Section 2(b) shall be reduced by an amount per
share equal to any dividends or distributions declared by the Company and payable on the Initial
Securities but not payable on the Option Securities.
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->Sch F-1<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt">SCHEDULE G
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 16pt"><U>Directors</U>:

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Erskine B. Bowles

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">James D. Edwards

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Lawrence L. Gellerstedt III

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Lillian C. Giornelli

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">S. Taylor Glover, Chairman

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">James H. Hance Jr.

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">William B. Harrison Jr.

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Boone A. Knox

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">William Porter Payne

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>Officers (who are not also directors)</U>:

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">R. Dary Stone, Vice Chairman

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">James A. Fleming, Executive Vice President and Chief Financial Officer

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">John D. Harris, Jr., Senior Vice President, Chief Accounting Officer and Assistant Secretary

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Robert M. Jackson, Senior Vice President, General Counsel and Corporate Secretary

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Craig B. Jones, Executive Vice President and Chief Investment Officer

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Steve V. Yenser, Executive Vice President and Chief Leasing &#038; Asset Management Officer

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>Others</U>:<BR>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Thomas G. Cousins

</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->Sch G-1<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt">Exhibit&nbsp;A
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">FORM OF OPINION OF COMPANY&#146;S COUNSEL<BR>
TO BE DELIVERED PURSUANT TO<BR>
SECTION 5(b)
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The Company is validly existing as a corporation in good standing under the laws of
the State of Georgia.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) The Company has corporate power and authority to own, lease and operate its
properties and to conduct its business as described in the Registration Statement, General
Disclosure Package and Prospectus and to enter into and perform its obligations under the
Underwriting Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) The Company is duly qualified as a foreign corporation to transact business and
is in good standing in each jurisdiction listed on <U>Exhibit&nbsp;C</U>.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) The authorized, issued and outstanding capital stock of the Company is as set
forth in the Prospectus (except for subsequent issuances, if any, pursuant to the
Underwriting Agreement, pursuant to reservations, agreements or employee benefit plans
referred to in the Prospectus, pursuant to the exercise of convertible securities or options
referred to in the Prospectus or in connection with the Company&#146;s common stock dividend).
The Securities conform in all material respects to the description thereof contained in the
Prospectus.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) The Securities have been duly authorized for issuance and sale to the Underwriters
pursuant to the Underwriting Agreement and, when issued and delivered by the Company
pursuant to the Underwriting Agreement against payment of the consideration set forth in the
Underwriting Agreement, will be validly issued and fully paid and non-assessable, and no
holder of the Securities is or will be subject to personal liability by reason of being such
a holder. The issuance of the Securities to the Underwriters pursuant to the Underwriting
Agreement as contemplated therein does not or will not violate the ownership restrictions
set forth in the Company&#146;s Restated and Amended Articles of Incorporation, as amended, and
Bylaws.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) The issuance of the Securities is not subject to the preemptive or other similar
rights, arising by operation of law or, to our knowledge, otherwise, of any securityholder
of the Company. To our knowledge, no holder of outstanding shares of capital stock of the
Company has any right to sell shares of capital stock of the Company owned by such holder in
the offering of shares contemplated by the Underwriting Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) Each Specified Subsidiary organized under the laws of the States of Georgia,
Delaware, North Carolina or Texas is validly existing as a corporation, limited liability
company, limited partnership or limited liability partnership, as the case may be, in good
standing under the laws of the jurisdiction of its incorporation, organization or formation
and has corporate or other
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">applicable entity power and authority to own, lease and operate
its properties and to conduct its business as described in the Registration Statement,
General Disclosure Package and Prospectus and is duly qualified as a foreign corporation or
other applicable entity to transact business and is in good standing in each jurisdiction
listed next to the name of such entity on <U>Exhibit&nbsp;B</U> hereto.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii) The Underwriting Agreement has been duly authorized, executed and delivered by
the Company.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix) The Registration Statement has become effective under the 1933 Act; any required
filing of each prospectus relating to the Securities (including the Prospectus) pursuant to
Rule 424(b) has been made in the manner and within the time period required by Rule 424(b)
(without reference to Rule&nbsp;424(b)(8)); any required filing of each Issuer Free Writing
Prospectus pursuant to Rule&nbsp;433 has been made in the manner and within the time period
required by Rule&nbsp;433(d); and, to our knowledge, no stop order suspending the effectiveness
of the Registration Statement has been issued under the 1933 Act and no proceedings for that
purpose have been instituted or are pending or threatened by the Commission.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) The Registration Statement, including without limitation the Rule&nbsp;430B Information,
the Prospectus, excluding the documents incorporated by reference therein, and each
amendment or supplement to the Registration Statement and the Prospectus, excluding the
documents incorporated by reference therein, as of their respective effective or issue dates
(including without limitation each deemed effective date with respect to the Underwriters
pursuant to Rule&nbsp;430B(f)(2) of the 1933 Act Regulations), other than the financial
statements and supporting schedules included therein or omitted therefrom and Form T-1, as
to which we express no opinion, complied as to form in all material respects with the
requirements of the 1933 Act and the 1933 Act Regulations.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xi) The documents incorporated by reference in the Prospectus (other than the
financial statements and supporting schedules included therein or omitted therefrom, as to
which we express no opinion), when they were filed with the Commission complied as to form
in all material respects with the requirements of the 1934 Act and the rules and regulations
of the Commission thereunder.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xii) The form of certificate used to evidence the Common Stock complies in all
material respects with all applicable statutory requirements, with any applicable
requirements of the Restated and Amended Articles of Incorporation and Bylaws of the Company
and the requirements of the New York Stock Exchange.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiii) To our knowledge, there is not pending or threatened any action, suit,
proceeding, inquiry or investigation, to which the Company or any Specified Subsidiary is a
party, or to which the property of the Company or any Specified Subsidiary is subject,
before or brought by any court or governmental agency or body, domestic or foreign, which
would result in a Material Adverse Effect, or which would materially and adversely affect
the consummation of the transactions contemplated in the Underwriting Agreement or the
performance by the Company of its obligations thereunder.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiv) The information in the Prospectus under &#147;Description of Capital Stock&#151;Common
Stock&#148; and &#147;Description of Capital Stock&#151;Preferred Stock&#148; and in the Registration Statement
under Item&nbsp;15, to the extent that it constitutes matters of law, summaries of legal matters,
the Company&#146;s Restated and Amended Articles of Incorporation and Bylaws or legal
proceedings, or legal conclusions, has been reviewed by us and is correct in all material
respects.
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">The discussion contained in the Prospectus under the heading &#147;Certain Federal
Income Tax Considerations,&#148; to the extent such discussion contains statements of applicable
federal income tax law rather than statements of fact or belief by the Company, is correct
in all material respects as of the date hereof. However, we express no opinion as to
whether the Company has qualified, or will qualify, as a REIT under the Code. In addition,
we express no opinion as to whether any entity in which the Company has invested qualifies as a partnership for federal income
tax purposes.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xv) All descriptions in the Registration Statement of statutes, and of contracts and
documents to which the Company or its subsidiaries or joint ventures are a party, are
accurate and fairly present the information required to be presented; to our knowledge,
there are no contracts, indentures, mortgages, loan agreements, notes, leases or other
instruments required to be described or referred to in the Registration Statement or to be
filed as exhibits to the Registration Statement or to the documents incorporated by
reference to the Registration Statement other than those described or referred to therein or
filed or incorporated by reference as exhibits thereto.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xvi) No filing with, or authorization, approval, consent, license, order,
registration, qualification or decree of, any court or governmental authority or agency,
domestic or foreign (other than under the 1933 Act and the 1933 Act Regulations, which have
been obtained, or as may be required under the securities or blue sky laws of the various
states, as to which we express no opinion) is necessary or required in connection with the
due authorization, execution and delivery of the Underwriting Agreement or for the offering,
issuance, sale or delivery of the Securities.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xvii) The execution, delivery and performance of the Underwriting Agreement and the
consummation of the transactions contemplated in the Underwriting Agreement (including the
issuance and sale of the Securities and the use of the proceeds from the sale of the
Securities as described in the Prospectus under the caption &#147;Use Of Proceeds&#148;) and
compliance by the Company with its obligations under the Underwriting Agreement do not or
will not, whether with or without the giving of notice or lapse of time or both, conflict
with or constitute a breach of, or default or Repayment Event (as defined in Section
1(a)(xii) of the Underwriting Agreement) under or result in the creation or imposition of
any lien, charge or encumbrance upon any property or assets of the Company or any Specified
Subsidiary pursuant to any contract, indenture, mortgage, deed of trust, loan or credit
agreement, note, lease or any other agreement or instrument, known to us, to which the
Company or any Specified Subsidiary is a party or by which it or any of them may be bound,
or to which any of the property or assets of the Company or any Specified Subsidiary is
subject (except for such conflicts, breaches, defaults or Repayment Events or liens, charges
or encumbrances that would not have a Material Adverse Effect), nor will such action result
in any violation of the provisions of the Restated and Amended Articles of Incorporation or
Bylaws of the Company, or any applicable law, statute, rule, regulation, judgment, order,
writ or decree, known to us, of any government, government instrumentality or court,
domestic or foreign, having jurisdiction over the Company or any Specified Subsidiary or any
of their respective properties, assets or operations.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xviii) The Company is not required, and upon the issuance and sale of the Securities
as herein contemplated and the application of the net proceeds therefrom as described in the
Prospectus will not be required, to register as an &#147;investment company&#148; under the 1940 Act.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In our capacity as counsel for the Company, we have rendered legal advice and assistance in
connection with the Company&#146;s preparation of the Registration Statement, the General Disclosure
Package and the Prospectus. Rendering such assistance included, among other things, discussions
and
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">inquiries concerning various legal matters, the review of certain documents, and participating
in conferences with officers and other representatives of the Company, representatives of the
Company&#146;s independent auditors and representatives of the Underwriters and their counsel during
which the contents of the Registration Statement, the General Disclosure Package and the Prospectus
and related matters were discussed and reviewed.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Although we are not passing upon and do not assume any responsibility for the accuracy,
completeness or fairness of the statements contained in the Registration Statement, the General
Disclosure Package or the Prospectus, except as set forth in paragraphs (xiv)&nbsp;and (xv)&nbsp;above, on
the basis of the information that was developed in the course of the performance of the services
referred to above, nothing has come to our attention that causes us to believe that:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any part of the Original Registration Statement, when such part originally
became effective, contained an untrue statement of a material fact or omitted to state
any material fact required to be stated therein or necessary to make the statements
therein not misleading;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the General Disclosure Package, as of the Applicable Time, contained an untrue
statement of a material fact or omitted to state a material fact necessary in order to
make the statements therein, in the light of the circumstances under which they were
made, not misleading; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the Prospectus, as of the issue date thereof, as of the Closing Time, and as of
the issue dates of any amendment or supplement thereto, contained or contains any
untrue statement of a material fact or omitted or omits to state any material fact
necessary in order to make the statements therein, in the light of the circumstances
under which they were made, not misleading;</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">except that, with respect to clauses (a), (b)&nbsp;and (c), we do not express a belief with respect to
the financial statements and notes thereto, the financial statement schedules and other financial
data included or incorporated by reference therein or omitted therefrom, and with respect to clause
(a), we do not express a belief with respect to the Form T-1.
</DIV>



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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="right" style="font-size: 10pt; margin-top: 12pt">Exhibit&nbsp;B
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">FORM OF OPINION OF COMPANY&#146;S TAX ADVISOR<BR>
TO BE DELIVERED PURSUANT TO<BR>
SECTION 5(b)
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">September &#091;&nbsp;&nbsp;&nbsp;&#093;, 2009
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Cousins Properties Incorporated<BR>
191 Peachtree Street NE<BR>
Suite&nbsp;3600<BR>
Atlanta, GA 30303-1740

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Merrill Lynch &#038; Co.<BR>
Merrill Lynch, Pierce, Fenner &#038; Smith <BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Incorporated<BR>
Morgan Stanley &#038; Co. Incorporated<BR>
J.P. Morgan Securities, Inc.<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;as Representatives of the several Underwriters<BR>
c/o Merrill Lynch &#038; Co.<BR>
Merrill Lynch, Pierce, Fenner &#038; Smith<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Incorporated<BR>
One Bryant Park<BR>
New York, New York 10036; and

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Morgan Stanley &#038; Co. Incorporated<BR>
1585 Broadway<BR>
New York, New York 10036; and

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">J.P. Morgan Securities, Inc.<BR>
383 Madison Avenue<BR>
New York, New York 10179<BR>
Re: Federal Income Tax Status of Cousins Properties Incorporated

</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Ladies and Gentlemen:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">On June&nbsp;24, 2003 Cousins Properties Incorporated (the &#147;Company&#148;), a Georgia corporation, filed with
the Securities and Exchange Commission (the &#147;Commission&#148;) a Registration Statement on Form S-3
(File No.&nbsp;333-106401) (the &#147;Initial Registration Statement&#148;) registering the offer and sale, from
time to time, of an aggregate of $132,140,625 of: (i)&nbsp;shares of the Company&#146;s common stock, par
value $1.00 per share, (ii)&nbsp;warrants to purchase Common Stock, (iii)&nbsp;unsecured non-convertible debt
securities and (iv)&nbsp;shares of the Company&#146;s preferred stock, par value $1.00 per share. On July
10, 2003, the Company filed Amendment No.&nbsp;1 to the Initial Registration Statement increasing the
aggregate amount of securities to be offered pursuant to the Initial Registration Statement to
$133,140,625. On July&nbsp;17, 2003, the Company issued and sold in an underwritten offering 4,000,000
shares of preferred stock registered for offer and sale on the Initial Registration Statement, with
a total public offering price of $100,000,000, leaving $33,140,625 of unsold securities registered
pursuant to the Initial Registration Statement.
</DIV>


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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Cousins Properties Incorporated<BR>
Merrill Lynch &#038; Co.<BR>
Merrill Lynch, Pierce, Fenner &#038; Smith Incorporated<BR>
Morgan Stanley &#038; Co. Incorporated<BR>
J.P. Morgan Securities Inc.<BR>
September <B>&#091;&#95;&#95;&#95;&#093;</B>, 2009<BR>
Page 2

</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">On November&nbsp;18, 2004, the Company filed with the Commission a Registration Statement on Form S-3
(File No.&nbsp;333-120612) (the &#147;2004 Registration Statement&#148;) registering the offer and sale from time
to time, of an aggregate of $166,859,375 of securities of the same type as are registered pursuant
to the Initial Registration Statement as well as convertible debt securities, such 2004
Registration Statement to also include the unsold securities registered pursuant to the Initial
Registration Statement, for a total registered amount of securities covered by the Registration
Statement of $200,000,000. On December&nbsp;17, 2004, the Company issued and sold in an underwritten
offering 4,000,000 shares of preferred stock registered for offer and sale on the 2004 Registration
Statement, with a total public offering price of $100,000,000, leaving $100,000,000 of unsold
securities registered pursuant to the 2004 Registration Statement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">On March&nbsp;27, 2009, the Company filed with the Commission a Registration Statement on Form S-3 (File
No.&nbsp;333-158234) (the &#147;Registration Statement&#148;) registering the Company to offer and sell from time
to time common stock, warrants debt securities, preferred stock and depository shares in an
aggregate amount equal to the remaining unsold securities of $100,000,000 under the Initial
Registration Statement and 2004 Registration Statement plus an additional $400,000,000 (the
&#147;Registration Statement&#148;), as more fully described in the Company&#146;s prospectus included in the
Registrations Statement dated March&nbsp;27, 2009 (together with all exhibits, supplements and
amendments thereto, the &#147;Prospectus&#148;). On May&nbsp;6, 2009, the Company filed a Prospectus Supplement
which authorized the issuance of up to 3,000,000 shares of common stock in connection with a
dividend declared on May&nbsp;1, 2009. Additionally, on August&nbsp;12, 2009, the Company filed a Prospectus
Supplement which authorized the issuance of up to 1,800,000 shares of common stock in connection
with a dividend declared on July&nbsp;15, 2009. On September&nbsp;14, 2009, the Company intends to file a
Prospectus Supplement authorizing the issuance of up to an additional 36,800,000 shares of common
stock (the &#147;Supplement&#148;). In connection with filing the Supplement and in connection with the
Company&#146;s obligation pursuant to section 5(b) of the Underwriting Agreement dated September &#091;&nbsp;&nbsp;&nbsp;&#093;,
2009, to which Deloitte Tax LLP (&#147;Deloitte Tax&#148;) is not a party, you have requested Deloitte Tax to
issue an opinion regarding the status, for federal income tax purposes, of the Company and its
Subsidiary Partnerships (as later defined). The Company intends to continue to be taxed as a real
estate investment trust (&#147;REIT&#148;) as defined in Internal Revenue Code (&#147;IRC&#148;) &#167;&#167;856-860.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">As discussed below under the section entitled &#147;LIMITATIONS ON OPINION&#148; you understand and agree
that this opinion is solely for the Company&#146;s information and benefit, is limited to the described
transaction, and may not be relied upon by any other person or entity, other than the addresses of
this opinion, without the prior written consent of Deloitte Tax or as otherwise described herein.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Except as otherwise provided herein, capitalized terms shall have the same meaning ascribed to them
in the Registration Statement, the 2004 Registration Statement, the Initial Registration Statement,
the Prospectus, or the Company&#146;s Restated and Amended Articles of Incorporation. It is our
understanding that the Company intends to use the net proceeds from the sale of any of the
securities under the Registration Statement to repay existing indebtedness and for general
corporate purposes.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In rendering our opinion, we have examined and, with your consent, have relied upon the following
documents:
</DIV>


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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Cousins Properties Incorporated<BR>
Merrill Lynch &#038; Co.<BR>
Merrill Lynch, Pierce, Fenner &#038; Smith Incorporated<BR>
Morgan Stanley &#038; Co. Incorporated<BR>
J.P. Morgan Securities Inc.<BR>
September <B>&#091;&#95;&#95;&#95;&#093;</B>, 2009<BR>
Page 3

</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Restated and Amended Articles of Incorporation of Cousins Properties
Incorporated as amended August&nbsp;9, 1999 and as further amended July&nbsp;22, 2003 and as
further amended December&nbsp;15, 2004 (the &#147;Articles of Incorporation&#148;);</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Bylaws of Cousins Properties Incorporated, as amended April&nbsp;29, 1993, as
further amended August&nbsp;14, 2007, as further amended February&nbsp;17, 2009, and as further
amended June&nbsp;6, 2009 (the &#147;By-Laws&#148;);</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Prospectus, the Supplement, the Prospectus Supplement dated May&nbsp;6, 2009,
and the Prospectus Supplement dated August&nbsp;12, 2009;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A letter dated September &#091;&nbsp;&nbsp;&nbsp;&#093;, 2009, and signed by James A. Fleming as
Executive Vice President and Chief Financial Officer of the Company, on behalf of the
Company, a copy of which is attached hereto (the &#147;Certificate of Representations&#148;);</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>A letter from King &#038; Spalding LLP, counsel to the Company, dated September &#091;&nbsp;&nbsp;&nbsp;&#093;,
2009, consenting to our relying on its opinion dated September &#091;&nbsp;&nbsp;&nbsp;&#093;, 2009, which
states that the Company is a corporation validly existing and in good standing under
the laws of the State of Georgia;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">6.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Underwriting Agreement dated September &#091;&nbsp;&nbsp;&nbsp;&#093;, 2009; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">7.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Such other records, certificates, agreements, schedules and documents as we
have deemed necessary or appropriate for purposes of rendering the opinion set forth
herein.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In our examination of the foregoing documents, we have assumed, with your consent, that (i)&nbsp;the
documents are original documents, or true and accurate copies of original documents, and have not
been subsequently amended; (ii)&nbsp;the signatures on each original document are genuine; (iii)&nbsp;where
any such document required execution by a person, the person who executed the document had proper
authority and capacity; (iv)&nbsp;all representations and statements set forth in such documents are
true and correct; (v)&nbsp;where any such document imposes obligations on a person, such obligations have been or will be
performed or satisfied in accordance with their terms; and (vi)&nbsp;the Company at all times has been
and will be organized and operated in accordance with the terms of such documents.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">For purposes of rendering this opinion, we have assumed that the issuance contemplated by the
foregoing documents will be consummated in accordance with the operative documents, and that such
documents accurately reflect the material facts of the registration.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>I. Background, Facts and Representations, and Significant Assumptions</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>A. Background</I></B>

</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Cousins Properties Incorporated is a Georgia corporation, which since 1987 has elected to be taxed
as a real estate investment trust (&#147;REIT&#148;). Cousins Real Estate Corporation and its subsidiaries
(&#147;CREC&#148;) is a
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->B-3<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Cousins Properties Incorporated<BR>
Merrill Lynch &#038; Co.<BR>
Merrill Lynch, Pierce, Fenner &#038; Smith Incorporated<BR>
Morgan Stanley &#038; Co. Incorporated<BR>
J.P. Morgan Securities Inc.<BR>
September <B>&#091;&#95;&#95;&#95;&#093;</B>, 2009<BR>
Page 4

</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">taxable entity wholly-owned by the Company, which is consolidated with the Company for financial
reporting purposes, which owns, develops, and manages its own real estate portfolio and performs
certain real estate related services for other parties.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Company is an Atlanta, Georgia-based, fully integrated, self administered equity REIT. The
Company has extensive experience in the real estate industry, including the acquisition, financing,
development, management and leasing of properties. Cousins Properties Incorporated has been a
public company since 1962, and its common stock trades on the New York Stock Exchange under the
symbol &#147;CUZ.&#148; The Company&#146;s Series&nbsp;A Cumulative Redeemable Preferred Stock trades on the New York
Stock Exchange under the symbol &#147;CUZPRA.&#148; The Company&#146;s Series&nbsp;B Cumulative Redeemable Preferred
Stock trades on the New York Stock Exchange under the symbol &#147;CUZPRB.&#148; The Company&#146;s strategy is
to produce strong stockholder returns by creating value through the acquisition, development and
redevelopment of high-quality, well-located office, multi-family, retail and residential
properties. The Company has developed substantially all of the income producing real estate assets
it owns and operates. A key element in the Company&#146;s strategy is to actively manage its portfolio
of investment properties and, at the appropriate times, to engage in timely and strategic
dispositions either by sale or through contributions to ventures in which the Company retains an
ownership interest. These transactions seek to maximize the value of the assets the Company has
created, generate capital for additional development properties, and return a portion of the value
created to stockholders.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>B. Facts and Representations</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In addition to the foregoing, our opinion is based on the factual information and assumptions
contained herein and representations made to us in the Certificate of Representations attached as
Attachment A.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Without limiting the foregoing, we have assumed that all statements and descriptions of the
Company&#146;s past and intended future activities herein and in the Certificate of Representations are
true and accurate. No facts have come to our attention, however, that would cause us to question
the accuracy or completeness of such facts, assumptions or documents in a material way. To the
extent the representations set forth in the Certificate of Representations are with respect to
matters set forth in the IRC or Treasury Regulations, we have reviewed with the Company the
relevant provisions of the IRC, the applicable Treasury Regulations and published administrative
interpretations thereof.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>C. Significant Assumptions</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Our opinion is expressly based upon any assumption set forth herein and as follows:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Beginning with the Company&#146;s REIT election for the taxable year beginning
January&nbsp;1, 1987 and ending with the Company&#146;s taxable year ending December&nbsp;31, 2001,
the Company met the requirements for qualification as a REIT and was taxed as such.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Each Subsidiary Partnership was properly classified as a partnership for
federal income tax purposes at all times prior to January&nbsp;1, 2002.</TD>
</TR>

</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->B-4<!-- /Folio -->
</DIV>



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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Cousins Properties Incorporated<BR>
Merrill Lynch &#038; Co.<BR>
Merrill Lynch, Pierce, Fenner &#038; Smith Incorporated<BR>
Morgan Stanley &#038; Co. Incorporated<BR>
J.P. Morgan Securities Inc.<BR>
September <B>&#091;&#95;&#95;&#95;&#093;</B>, 2009<BR>
Page 5

</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The facts and representations as made by James A. Fleming on behalf of the
Company in the Certificate of Representations are true and correct.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company intends to continue to be organized and operate in a manner which
will allow it to meet the requirements for qualification and taxation as a REIT for the
remainder of the tax year ending December&nbsp;31, 2009 and future years.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Each Subsidiary Partnership intends to continue to be organized and operate in
a manner which will allow it to be treated as a partnership and not as an association
taxable as a corporation for the remainder of the tax year ending December&nbsp;31, 2009 and
future years.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">6.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>None of the securities to be issued pursuant to the Supplement will be issued
in violation of the Limit as set forth in Article&nbsp;11 of the Articles of Incorporation.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B><I>7.</I></B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company is duly formed and existing under the laws of the State of Georgia
and is duly authorized to transact business in the State of Georgia.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>II. Issues Considered</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>A. REIT Status</I></B>

</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Since the commencement of the Company&#146;s taxable year which began January&nbsp;1, 2002 through the tax
year ending December&nbsp;31, 2008, has the Company been organized in conformity with the requirements
for qualification as a REIT under the IRC, and has its actual method of operation enabled, and will
its proposed method of organization and operation enable, the Company to continue to meet the
requirements for qualification and taxation as a REIT?
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>B. Subsidiary Partnership Status</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Since January&nbsp;1, 2002, have the Subsidiary Partnerships been treated as partnerships and not as
associations taxable as corporations for federal income tax purposes, and will their proposed
method of organization and operation allow them to continue to be treated as partnerships and not
as associations taxable as corporations for federal income tax purposes?
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>III. Conclusions Reached</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Based upon and subject to the foregoing, we are of the opinion that:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>A. REIT Status</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Since the commencement of the Company&#146;s taxable year which began January&nbsp;1, 2002 through the tax
year ending December&nbsp;31, 2008, the Company has been organized and has operated in conformity with
the requirements for qualification and taxation as a REIT under the IRC, and its actual method of
operation has enabled, and its proposed method of organization and operation will enable, the
Company
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->B-5<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Cousins Properties Incorporated<BR>
Merrill Lynch &#038; Co.<BR>
Merrill Lynch, Pierce, Fenner &#038; Smith Incorporated<BR>
Morgan Stanley &#038; Co. Incorporated<BR>
J.P. Morgan Securities Inc.<BR>
September <B>&#091;&#95;&#95;&#95;&#093;</B>, 2009<BR>
Page 6

</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">to continue to meet the requirements for qualification and taxation as a REIT for its
taxable year ending December&nbsp;31, 2009, and thereafter. As noted in the Prospectus, the Company&#146;s
qualification and taxation as a REIT depends upon its ability to meet, through actual, annual operating results, certain
requirements including requirements relating to distribution levels, diversity of stock ownership,
composition of assets and sources of income, and the various qualification tests imposed under the
IRC. Accordingly, no assurance can be given that the actual results of the Company&#146;s organization
and operation for any period subsequent to the date of this opinion will satisfy the requirements
for taxation as a REIT under the IRC.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>B. Subsidiary Partnership Status</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Subsidiary Partnerships have from January&nbsp;1, 2002 through December&nbsp;31, 2008 been treated as
partnerships and not as associations taxable as corporations for federal income tax purposes, and
their proposed method of organization and operation will continue to allow them to be treated as
partnerships and not as associations taxable as corporations for federal income tax purposes for
their taxable years ending December&nbsp;31, 2009, and thereafter. The Subsidiary Partnerships&#146;
treatment as partnerships for federal income tax purposes depends upon their form of organization
and method of operation. Accordingly, no assurance can be given that the future organization and
operations of the Subsidiary Partnerships will allow them to continue to be treated as partnerships
for federal income tax purposes.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>IV. Law &#038; Analysis</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>A. REIT Status</I></B>

</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>1. Organizational Requirements. </I></B>In order to qualify as a REIT for federal income tax purposes,
IRC &#167;856 requires that an entity meet the following organizational tests:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>it must be organized as a corporation, trust, or association;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>it must be managed by one or more trustees or directors;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>beneficial ownership must be evidenced by transferable shares or
certificates;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(4)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>it must be taxable as a domestic corporation but for the
operation of IRC &#167;&#167;856 through 859;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(5)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>it must not be a financial institution or insurance company;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(6)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>beneficial ownership must be held by 100 or more persons;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(7)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>subject to the provisions of IRC &#167;856(k), it must not be closely
held as determined under IRC &#167;856(h);</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(8)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>it must use the calendar year as its taxable year; and</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->B-6<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Cousins Properties Incorporated<BR>
Merrill Lynch &#038; Co.<BR>
Merrill Lynch, Pierce, Fenner &#038; Smith Incorporated<BR>
Morgan Stanley &#038; Co. Incorporated<BR>
J.P. Morgan Securities Inc.<BR>
September <B>&#091;&#95;&#95;&#95;&#093;</B>, 2009<BR>
Page 7

</DIV>


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(9)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>it must elect to be taxed as a REIT or have in effect such an
election made for a previous taxable year.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The requirements described in (1)&nbsp;through (5)&nbsp;above must be met during the entire taxable year.
The requirement described in (6)&nbsp;above must exist during at least 335&nbsp;days of a taxable year of 12
months, or during a proportionate part of a taxable year of less than 12&nbsp;months. The requirement
described in (7)&nbsp;above must be met during the last half of each taxable year of the REIT. The
requirements described in (6)&nbsp;and (7)&nbsp;above do not apply to the first taxable year for which an
election is made under IRC &#167;856(c)(1).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Company has represented that it has satisfied the requirements of (1)&nbsp;through (5)&nbsp;above for all
years since January&nbsp;1, 1987. The Company has also represented that it has satisfied the
requirements of (6)&nbsp;and (7)&nbsp;above for all tax years for which it elected to be taxed as, or
otherwise has calculated its taxable income as, a REIT consistent with the provisions of IRC
&#167;857(b)(2). Further, the Company has represented that it expects, and intends, to take all
necessary measures within its control to ensure that the beneficial ownership of the Company will
at all times be held by 100 or more persons.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In addition, subject to certain exceptions, the Company&#146;s Articles of Incorporation, Article&nbsp;11 A
(1), states that after December&nbsp;31, 1986, shares of stock of the Company shall not be transferable
to any person if such transfer would cause the person to be an owner of more than 3.9&nbsp;percent in
value of the outstanding shares, including both common and preferred stock (the &#147;Limit&#148;). If such
a transfer occurs, the Articles of Incorporation provide that the transfer will be void and the
intended transferee will acquire no rights to the shares. Article&nbsp;11 A (2)&nbsp;states that other than
a shareholder who already exceeded the Limit at December&nbsp;31, 1986 (a &#147;Prior Owner&#148;), no shareholder
shall at any time own shares that exceed the Limit. The Board of Directors, however, is provided
authority to exempt shareholders from the operation of Articles 11 A (1)&nbsp;and (2). The Company has
represented that the Board of Directors granted Exemptions on June&nbsp;15, 2004, as amended on April
25, 2008, on February&nbsp;21, 2007, on March&nbsp;31, 2008, and on May&nbsp;15, 2008 (cumulatively, the
&#147;Waivers&#148;). The Company has represented that each shareholder granted a Waiver was widely held, as
defined in that respective Waiver. Article&nbsp;11 A (3)&nbsp;restricts Prior Owners from receiving
additional shares except in certain circumstances. The shares causing a violation of any of these
provisions (&#147;Excess Shares&#148;) are deemed transferred to the Company as trustee for a trust. The
interest in the trust will be freely transferable by the intended transferee. Once the intended
transferee of the Excess Shares has transferred the trust interest to an owner not violating the
Limit, the shares are no longer Excess Shares and the intended transferee&#146;s interest in the trust
is extinguished.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Article&nbsp;11 A (6)&nbsp;states that if a person acquires shares in excess of the Limit and such
acquisition causes the Company to not qualify as a REIT under the five or fewer rule applicable for
purposes of IRC &#167;856(h), such person shall be liable for the corporate taxes that are due until
REIT status can be re-elected.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Pursuant to Treasury Regulation &#167;1.856-1(d)(2), &#147;...Provisions in the trust instrument or corporate
charter or bylaws which permit the trustee or directors to redeem shares or to refuse to transfer
shares in any case where the trustee or directors, in good faith, believe that a failure to redeem
shares or that a transfer of
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->B-7<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Cousins Properties Incorporated<BR>
Merrill Lynch &#038; Co.<BR>
Merrill Lynch, Pierce, Fenner &#038; Smith Incorporated<BR>
Morgan Stanley &#038; Co. Incorporated<BR>
J.P. Morgan Securities Inc.<BR>
September <B>&#091;&#95;&#95;&#95;&#093;</B>, 2009<BR>
Page 8

</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">shares would result in the loss of status as a real estate investment
trust will not render the shares &#145;nontransferable&#146;...&#148;<SUP style="font-size: 85%; vertical-align: text-top">1</SUP>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Company has represented that it does not and will not impose, and is not aware of, any transfer
restrictions on its outstanding shares of beneficial interest other than those restrictions
contained in the Company&#146;s Articles of Incorporation (as described above), which are intended to
enable the Company to comply with certain REIT qualification requirements as set forth in IRC
&#167;856(a)(6).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Company has represented that it has used the calendar year as its taxable year since 1987. The
Company has also represented that it made an election to be taxed as a REIT for each year
commencing with the taxable year beginning January&nbsp;1, 1987 and that it intends to take all
necessary measures within its control to ensure that it meets the REIT organizational requirements
in the current and future years. Furthermore, the Company has represented that it qualified as a
REIT for federal income tax purposes from January&nbsp;1, 1987 through December&nbsp;31, 2001.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In addition to the organizational requirements listed above, a REIT must satisfy ongoing
requirements concerning the nature of its income and assets, the payment of dividends and the
maintenance of records.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>2. Income Tests. </I></B>For each taxable year, a REIT must satisfy certain income tests under IRC
&#167;856(c).
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>at least 75&nbsp;percent of a REIT&#146;s gross income (excluding gross income
from prohibited transactions and hedging transactions described in IRC
&#167;856(c)(5)(G) entered into after July&nbsp;30, 2008) must consist of rents from real
property, interest on obligations secured by mortgages on real property or on
interests in real property, gain from the sale of real property that was not held
primarily for sale to customers in the ordinary course of business, dividends from
other REITs and gain from the sale of REIT shares, refunds and abatements of real
property taxes, income and gain from foreclosure property, loan commitment and
certain other fees, qualified temporary investment income (as that term is defined
in IRC &#167;856(c)(5)(D)) and gain from the sale of certain other property; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>at least 95&nbsp;percent of a REIT&#146;s gross income (excluding gross income
from prohibited transactions and hedging transactions described in IRC
&#167;856(c)(5)(G)(i) for taxable years beginning on or after January&nbsp;1, 2005 and
hedging transactions described in IRC &#167;856(c)(5)(G)(ii) entered into after July
30, 2008) must consist of items that would be includible in (1)&nbsp;above, and
dividends, interest and gain from the sale or other disposition of stocks or
securities.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">For purposes of applying the income and the asset tests, the Company is treated as owning directly
the assets and receiving the income of (i)&nbsp;any subsidiary (exclusive of any &#147;taxable REIT
subsidiary&#148; as such term is defined in IRC &#167;856(l)) of the Company in which: (a)&nbsp;with respect to
all taxable years beginning
</DIV>



<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">1</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>See e.g., Priv. Ltr. Ruls. 9430022 (April&nbsp;29, 1994)
(excess shares deemed transferred to a charity) and 8921067 (February&nbsp;28,
1989).</TD>
</TR>

</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->B-8<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Cousins Properties Incorporated<BR>
Merrill Lynch &#038; Co.<BR>
Merrill Lynch, Pierce, Fenner &#038; Smith Incorporated<BR>
Morgan Stanley &#038; Co. Incorporated<BR>
J.P. Morgan Securities Inc.<BR>
September <B>&#091;&#95;&#95;&#95;&#093;</B>, 2009<BR>
Page 9

</DIV>




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">on or before August&nbsp;5, 1997, the Company has owned 100&nbsp;percent of the
stock at all times during the period of such subsidiary&#146;s existence, and (b)&nbsp;with respect to all
taxable years beginning after August&nbsp;5, 1997, the Company owns, or has owned, 100&nbsp;percent of such
subsidiary (a &#147;Qualified REIT Subsidiary&#148; or &#147;QRS&#148;), (ii)&nbsp;each of any partnership (within the
meaning of (and including any limited liability company or other entity classified as a partnership
for federal income tax purposes) IRC &#167;7701(a)(2) and the regulations promulgated thereunder) in
which the Company or any QRS has held an interest, directly or indirectly (a &#147;Subsidiary
Partnership&#148;)<SUP style="font-size: 85%; vertical-align: text-top">2</SUP>, and (iii)&nbsp;any limited liability company (which has not elected
to be classified as a corporation for federal income tax purposes) all of the interests in which
are held by the Company, any QRS, or any Subsidiary Partnership directly, and/or indirectly through
one or more other such limited liability companies (a &#147;Disregarded LLC&#148;).<SUP style="font-size: 85%; vertical-align: text-top">3</SUP>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Based upon this &#147;look through&#148; approach, the rents received by the Company will qualify as &#147;rents
from real property&#148; for the 75&nbsp;percent test provided they are rents from interests in real
property, charges for services customarily furnished or rendered in connection with the rental of
real property and rent attributable to personal property which is leased under, or in connection
with, a lease of real property, but only if the rent attributable to such personal property for the
taxable year does not exceed 15&nbsp;percent of the total rent, for both real and personal property, for
the taxable year. Specifically excluded from the definition of rents from real property is (1)
rent determined on the basis, in whole or part, of any person&#146;s income or profits from the property
(exclusive of rent based on a fixed percentage or percentages of receipts or sales); (2)&nbsp;rent
received, directly or indirectly, from a tenant in which the REIT has an ownership interest
(directly or indirectly) of 10&nbsp;percent or more; and (3)&nbsp;for tax years beginning on or before August
5, 1997, rent from real property if the REIT furnishes or renders certain services to a tenant or
manages or operates such property other than through an independent contractor from which the REIT
receives no income (exclusive of any amount if such amount would be excluded from unrelated
business taxable income under IRC &#167;512(b)(3) if received by an organization described in IRC
&#167;511(a)(2)), and for tax years beginning after August&nbsp;5, 1997, any &#147;impermissible tenant service
income&#148; (as that term is defined in IRC &#167;856(d)(7)).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Company has represented that it has satisfied both of the income tests outlined above for each
taxable year since January&nbsp;1, 1987. It has also represented that it intends to take all necessary
measures within its control to ensure that it meets such tests during each of its future taxable
years. In addition, the Company
</DIV>



<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">2</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>In the case of a REIT which is a partner in a
partnership, as defined in IRC &#167;7701(a)(2) and the regulations thereunder, the
REIT will be deemed to own its proportionate share of each of the assets of the
partnership and will be deemed to be entitled to the income of the partnership
attributable to such share. For purposes of IRC &#167;856, the interest of a
partner in the partnership&#146;s assets shall be determined in accordance with his
capital interest in the partnership. The character of the various assets in
the hands of the partnership and items of gross income of the partnership shall
retain the same character in the hands of the partners for all purposes of IRC
&#167;856. Treas. Reg. &#167;1.856-3(g).</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">3</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Solely for purposes of applying the 10&nbsp;percent value
test in taxable years beginning on or after January&nbsp;1, 2005, in looking through
any partnership to determine the REIT&#146;s allocable share of any securities owned
by the partnership, the REIT&#146;s share of the assets of the partnership will
correspond not only to the REIT&#146;s interest as a partner in the partnership but
also to the REIT&#146;s proportionate interest in certain debt securities issued by
the partnership. See IRC &#167;856(m)(3) as added by the American Jobs Creation Act
of 2004.</TD>
</TR>

</TABLE>




<P align="center" style="font-size: 10pt"><!-- Folio -->B-9<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Cousins Properties Incorporated<BR>
Merrill Lynch &#038; Co.<BR>
Merrill Lynch, Pierce, Fenner &#038; Smith Incorporated<BR>
Morgan Stanley &#038; Co. Incorporated<BR>
J.P. Morgan Securities Inc.<BR>
September <B>&#091;&#95;&#95;&#95;&#093;</B>, 2009<BR>
Page 10

</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">has represented that it qualified as a REIT for federal income tax purposes from January&nbsp;1, 1987
through December&nbsp;31, 2001.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">For taxable years beginning before January&nbsp;1, 2005, if the Company fails to meet either income test
(1)&nbsp;or (2)&nbsp;above, it may still qualify as a REIT in such taxable year if it reports the source and
nature of each item of its gross income in its federal income tax return for such year, the
inclusion of any incorrect information in its return is not due to fraud with intent to evade tax
and the failure to meet such tests is due to reasonable cause and not to willful neglect. Under a
relief provision enacted on October&nbsp;22, 2004
as part of the American Jobs Creation Act of 2004, for taxable years beginning on or after January
1, 2005, a REIT may continue to qualify as a REIT if following the Company&#146;s identification of a
failure to satisfy one or both of the income tests for any taxable year, a description of each item
of its gross income that qualifies for the tests is set forth in a schedule for such taxable year
filed in accordance with Treasury Regulations, and such failure is due to reasonable cause and not
due to willful neglect. Under both relief provisions, the Company would be subject to a tax of 100
percent based on the excess non-qualifying income. The Company has represented that if it fails to
meet the requirements of either IRC &#167;&#167;856(c)(2) or (c)(3) (or both) in any taxable year, it intends
to avail itself of the provisions of IRC &#167;856(c)(6) (whereby it will be considered to have
satisfied the requirements of such paragraphs) if such failure is due to reasonable cause and not
due to willful neglect.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>3. Asset Tests. </I></B>At the close of each quarter during each taxable year, a REIT must satisfy four
tests under IRC &#167;856(c)(4).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">For tax years beginning on or before December&nbsp;31, 2000:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>at least 75&nbsp;percent of the value of a REIT&#146;s total assets must consist
of real estate assets, cash and cash items (including receivables) and Government
securities;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>not more than 25&nbsp;percent of the value of a REIT&#146;s total assets may
consist of securities, other than those includible under (1)&nbsp;above;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>not more than 5&nbsp;percent of the value of a REIT&#146;s total assets may
consist of securities of any one issuer, other than those securities includible
under (1)&nbsp;above; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(4)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>not more than 10&nbsp;percent of the outstanding voting securities of any
one issuer may be held by the REIT, other than those securities includible under
(1)&nbsp;above.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">For tax years beginning after December&nbsp;31, 2000:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>at least 75&nbsp;percent of the value of a REIT&#146;s total assets must consist
of real estate assets, cash and cash items (including receivables) and Government
securities;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>not more than 25&nbsp;percent of the value of a REIT&#146;s total assets may
consist of securities, other than those includible under (1)&nbsp;above;</TD>
</TR>


</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->B-10<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Cousins Properties Incorporated<BR>
Merrill Lynch &#038; Co.<BR>
Merrill Lynch, Pierce, Fenner &#038; Smith Incorporated<BR>
Morgan Stanley &#038; Co. Incorporated<BR>
J.P. Morgan Securities Inc.<BR>
September <B>&#091;&#95;&#95;&#95;&#093;</B>, 2009<BR>
Page 11

</DIV>

<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>not more than 20&nbsp;percent<SUP style="font-size: 85%; vertical-align: text-top">4</SUP> of the value of a REIT&#146;s total
assets may consist of securities of one or more taxable REIT subsidiaries, as
defined under IRC &#167;856(l) (&#147;TRS&#148;);</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(4)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>except with respect to a TRS and securities includible under (1)&nbsp;above
(i)&nbsp;no more than 5&nbsp;percent of the value of a REIT&#146;s total assets may consist of
securities of any one issuer; (ii)&nbsp;a REIT may not hold securities possessing more
than 10&nbsp;percent of the total voting power of the outstanding securities of any one
issuer; and (iii)&nbsp;a REIT may not hold securities having a value of more than 10&nbsp;percent of the total value of the
outstanding securities of any one issuer (the &#147;Single Issuer Security Limitation&#148;).</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The following assets are not treated as &#147;securities&#148; held by a REIT for purposes of the 10&nbsp;percent
value test described in (4)(iii) above:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;Straight debt&#148; meeting certain requirements described in IRC
&#167;856(m)(2), unless the REIT holds (either directly or through controlled TRSs)
certain other securities of the same corporate or partnership issuer that have an
aggregate value greater than 1&nbsp;percent of such issuer&#146;s outstanding securities;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Loans to individuals or estates;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Certain rental agreements calling for deferred rents or increasing
rents that are subject to IRC &#167;467, other than with certain related persons;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(4)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Obligations to pay the REIT amounts qualifying as &#147;rents from real
property&#148; under the 75&nbsp;percent and 95&nbsp;percent gross income tests;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(5)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Securities issued by a state or any political subdivision of a state,
the District of Columbia, a foreign government, any political subdivision of a
foreign government, or the Commonwealth of Puerto Rico, but only if the
determination of any payment received or accrued under the security does not
depend in whole or in part on the profits of any entity not described in this
category or payments on any obligation issued by such an entity;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(6)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Securities issued by a qualifying REIT;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(7)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Other arrangements identified in Treasury Regulations (which have not
yet been issued or proposed).</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In addition, any debt instrument issued by a partnership will not be treated as a &#147;security&#148; for
purposes of the 10&nbsp;percent value test if at least 75&nbsp;percent of the partnership&#146;s gross income
(excluding gross income
</DIV>



<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">4</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Effective for tax years beginning after July&nbsp;30, 2008,
not more than 25&nbsp;percent of the value of a REIT&#146;s total assets may consist of
securities of one or more taxable REIT subsidiaries.</TD>
</TR>

</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->B-11<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Cousins Properties Incorporated<BR>
Merrill Lynch &#038; Co.<BR>
Merrill Lynch, Pierce, Fenner &#038; Smith Incorporated<BR>
Morgan Stanley &#038; Co. Incorporated<BR>
J.P. Morgan Securities Inc.<BR>
September <B>&#091;&#95;&#95;&#95;&#093;</B>, 2009<BR>
Page 12

</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">from prohibited transactions) is derived from sources meeting the
requirements of the 75&nbsp;percent gross income test. If at least 75&nbsp;percent of the partnership&#146;s
gross income is not derived from sources meeting the requirements of the 75&nbsp;percent gross income
test, then the debt instrument issued by the partnership nevertheless will not be treated as a
&#147;security&#148; to the extent of the REIT&#146;s interest as a partner in the partnership. Also, in looking
through any partnership to determine the REIT&#146;s allocable share of any securities owned by the
partnership, the REIT&#146;s share of the assets of the partnership, solely for purposes of applying the
10&nbsp;percent value test in taxable years beginning on or after January&nbsp;1, 2005, will correspond not
only to the REIT&#146;s interest as a partner in the partnership but also to the REIT&#146;s proportionate
interest in certain debt securities issued by the partnership.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Failure to satisfy any of the asset tests discussed above at the end of any quarter, without curing
such failure within 30&nbsp;days after the end of such quarter, would generally result in the
disqualification of the entity as a REIT<SUP style="font-size: 85%; vertical-align: text-top">5</SUP>, unless certain relief provisions enacted as part of the American Jobs
Creation Act of 2004 are available. Under a de minimis failure relief provision, the failure of
the 5&nbsp;percent asset test, the 10&nbsp;percent voting securities test, or the 10&nbsp;percent value test,
would not disqualify the REIT if the failure is due to the ownership of assets having a total value
not exceeding the lesser of 1&nbsp;percent of the total value of the REIT&#146;s assets at the end of the
relevant quarter or $10,000,000, and the REIT disposes of such assets (or otherwise meets such
asset tests) within six months after the end of the quarter in which the failure was identified.
If the REIT were to fail to meet any of the REIT asset tests for a particular quarter and the REIT
did not qualify for the de minimis failure exception described in the preceding sentence, then the
REIT would nevertheless be deemed to have satisfied the relevant asset tests if:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>following the REIT&#146;s identification of the failure, the REIT files, in
accordance with the Treasury Regulations, a schedule setting forth a description
of each asset that caused the failure;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the failure to meet the requirements was due to reasonable cause and
not due to willful neglect;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the REIT disposes of the assets set forth in the schedule (or
otherwise meets the relevant asset test) within six months after the last day of
the quarter in which the identification of the failure occurred; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(4)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the REIT pays a tax equal to the greater of $50,000 or the amount
determined by multiplying the highest corporate tax rate by the net income
generated by the assets set forth in the schedule for the period beginning on the
first date of the failure to meet the requirements and ending on the earlier of
the date the REIT disposes of such assets or the end of the first quarter when
there is no longer a failure to satisfy the asset tests.</TD>
</TR>

</TABLE>
</DIV>


<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">5</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>See IRC &#167;856(c)(4), flush language.</TD>
</TR>

</TABLE>




<P align="center" style="font-size: 10pt"><!-- Folio -->B-12<!-- /Folio -->
</DIV>



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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Cousins Properties Incorporated<BR>
Merrill Lynch &#038; Co.<BR>
Merrill Lynch, Pierce, Fenner &#038; Smith Incorporated<BR>
Morgan Stanley &#038; Co. Incorporated<BR>
J.P. Morgan Securities Inc.<BR>
September <B>&#091;&#95;&#95;&#95;&#093;</B>, 2009<BR>
Page 13

</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">These relief provisions apply to taxable years beginning after the date of enactment, but it is
unclear whether they would apply to failures occurring in prior years, which are identified in tax
years beginning after the date of enactment.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In the case of a REIT which is a partner in a partnership, as defined in IRC &#167;7701(a)(2) and the
regulations thereunder, a REIT will be deemed to own its proportionate share of each of the assets
of the partnership and will be deemed to be entitled to the income of the partnership attributable
to such share. For purposes of IRC &#167;856, the interest of a partner in the partnership&#146;s assets
shall be determined in accordance with his capital interest in the partnership, except that solely
for purposes of applying the 10&nbsp;percent value test in taxable years beginning on or after January
1, 2005, in looking through any partnership to determine the REIT&#146;s allocable share of any
securities owned by the partnership, the REIT&#146;s share of the assets of the partnership will
correspond not only to the REIT&#146;s interest as a partner in the partnership but also to the REIT&#146;s
proportionate interest in certain debt securities issued by the partnership. The character of the
various assets in the hands of the partnership and items of gross income of the partnership shall
retain the same character in the hands of the partners for all purposes of IRC &#167;856.<SUP style="font-size: 85%; vertical-align: text-top">6</SUP>
As such, a REIT&#146;s ownership interest in a partnership is not subject to the Single Issuer Security
Limitation. See discussion at &#145;B. Subsidiary Partnership Status&#146; below for requirements for
entities to qualify as partnerships for federal income tax purposes.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Company has represented that it has satisfied each of the asset tests outlined above since
January&nbsp;1, 1987. It has also represented that it intends to take all necessary measures to ensure
that it meets such tests at the end of each quarter of each of its future taxable years. In
addition, the Company has represented that it qualified as a REIT for federal income tax purposes
from January&nbsp;1, 1987 through December&nbsp;31, 2001.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">For purposes of this opinion, we have assumed that each Subsidiary Partnership has been properly
classified as a partnership for federal income tax purposes prior to January&nbsp;1, 2002. In addition,
based upon the representations of the Company as set forth in the Certificate of Representations,
and the assumption that the Subsidiary Partnerships were properly classified as partnerships for
federal income tax purposes prior to January&nbsp;1, 2002, we conclude that the Subsidiary Partnerships
have since January&nbsp;1, 2002 been taxable as partnerships and not as associations taxable as
corporations for federal income tax purposes, and they will continue to be taxable as partnerships
and not as associations taxable as corporations for federal income tax purposes. As such, the
Company&#146;s ownership interest in each Subsidiary Partnership since January&nbsp;1, 2002 will not (in, and
of, itself) cause it to fail to meet the Single Issuer Security Limitation.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">For the current and all future taxable years, the Company has represented that it expects, and the
Company intends to take all necessary measures within its control to ensure, that the Company has
or will revalue its assets at the end of each quarter of each taxable year in which securities or
other property is acquired and will eliminate within 30&nbsp;days after the end of each such quarter any
discrepancy between the
</DIV>


<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">6</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Treas. Reg. &#167;1.856-3(g).</TD>
</TR>

</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->B-13<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Cousins Properties Incorporated<BR>
Merrill Lynch &#038; Co.<BR>
Merrill Lynch, Pierce, Fenner &#038; Smith Incorporated<BR>
Morgan Stanley &#038; Co. Incorporated<BR>
J.P. Morgan Securities Inc.<BR>
September <B>&#091;&#95;&#95;&#95;&#093;</B>, 2009<BR>
Page 14

</DIV>






<DIV align="left" style="font-size: 10pt; margin-top: 6pt">value of the Company&#146;s various investments and the requirements of the asset tests outlined above,
to the extent such discrepancy is attributable in whole or in part to acquisitions during such
quarter.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">For all tax years beginning after December&nbsp;31, 2000, the Company has represented that all debt
securities, other than securities of a TRS, held by the Company (i)&nbsp;have been secured by real
property (including interests in real property); (ii)&nbsp;have had a value of less than 10&nbsp;percent of
the total value of the outstanding securities of the issuer; or (iii)&nbsp;are not considered a
&#147;security&#148; by reason of IRC &#167;856(m). In addition, the Company has represented that any debt
securities, other than securities of a TRS, that it will hold in the future will satisfy at least
one of these three requirements.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Company has represented that the Company and each of CREC, CREC II and MC D&#252;sseldorf Holding
B.V. (&#147;D&#252;sseldorf&#148;) joined in a timely filed election to treat each of CREC, CREC II and D&#252;sseldorf
as a TRS effective January&nbsp;1, 2001. The Company has represented that it joined in an election to
treat Captivate Network, Inc. (&#147;Captivate&#148;) as a TRS effective July&nbsp;11, 2001. The Company has
represented that the Company has at all times owned less than 10&nbsp;percent of the vote and value of
Captivate&#146;s securities. The Company has also represented that it no longer owns any securities of
CREC II, Captivate, or D&#252;sseldorf.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Company has represented that the Company and Cousins Properties Funding LLC (&#147;Funding&#148;) joined
in a timely-filed election to treat Funding as a TRS effective December&nbsp;29, 2006. Additionally,
the Company has represented that Funding filed an election to be taxed as an association effective
as of December&nbsp;29, 2006. The Company has represented that as of May&nbsp;14, 2007, Funding merged into
Cousins Properties Funding II, LLC (&#147;Funding II&#148;), an entity treated as a partnership for federal
income tax purposes. Further, the Company has represented that as of March&nbsp;1, 2009, Funding II
merged into the Company.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Company has represented that the Company and each of Terminus Master Condominium Association,
Inc., King Mill Distribution Park Association, Inc, Wildwood Office Park Association, Inc., and
Wildwood Plaza Association, Inc. (collectively, the &#147;Associations&#148;) joined in a timely filed
election to treat the Associations as a TRS.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Company has represented that if it fails to meet the assets tests, it will take all actions
necessary to avail itself of any relief provisions that could apply.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>4.&nbsp;Distribution Requirement. </I></B>During each taxable year, in order to qualify as a REIT, the
deduction for dividends paid (computed without regard to capital gain dividends) must equal or
exceed the following:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the sum of (a)&nbsp;95&nbsp;percent (90&nbsp;percent for taxable years beginning
after December&nbsp;31, 2000) of real estate investment trust taxable income computed
without regard to the deduction for dividends paid and excluding net capital gain,
and (b)&nbsp;95&nbsp;percent (90&nbsp;percent for taxable years beginning after December&nbsp;31,
2000) of the excess of net income from foreclosure property over the tax on such
income; minus</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any excess non-cash income.</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->B-14<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Cousins Properties Incorporated<BR>
Merrill Lynch &#038; Co.<BR>
Merrill Lynch, Pierce, Fenner &#038; Smith Incorporated<BR>
Morgan Stanley &#038; Co. Incorporated<BR>
J.P. Morgan Securities Inc.<BR>
September <B>&#091;&#95;&#95;&#95;&#093;</B>, 2009<BR>
Page 15

</DIV>


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This requirement (the &#147;Distribution Requirement&#148;) is defined by reference to the dividends paid
deduction. Therefore, only distributions that qualify for that deduction will count in meeting the
Distribution Requirement.<SUP style="font-size: 85%; vertical-align: text-top">7</SUP>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Such dividends must be paid in the taxable year to which they relate, or in the 12-month period
following the close of such taxable year, if declared before the Company timely files it tax return
for such taxable year and if paid on or before the first regular dividend payment after such
declaration. Any dividend declared by the Company in October, November, or December of any
calendar year and payable to shareholders of record on a specified date in such a month shall be
deemed to have been paid on December&nbsp;31 of such calendar year if such dividend is actually paid by
the Company during January of the following calendar year. If a REIT has more than one class of
stock, the Distribution Requirement must be met on an aggregate basis and not with respect to each
separate class of stock. Distributions within each class of stock must be pro rata and
non-preferential. Further, any distribution shall not be considered as a dividend for purposes of
computing the dividends paid deduction, unless such distribution is with no preference to one class
of stock as compared with another class except to the extent that the former is entitled (without
reference to waivers of their rights by shareholders) to such preference.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">To the extent that a REIT does not distribute all of its net capital gain or distributes at least
95&nbsp;percent (90&nbsp;percent for taxable years beginning after December&nbsp;31, 2000), but less than 100
percent, of its REIT taxable income, it will be subject to tax at regular corporate tax rates. A
REIT may also be subject to an excise tax if it fails to meet certain other distribution
requirements.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Company has represented that it has satisfied the Distribution Requirement for each of its tax
years commencing with the tax year beginning January&nbsp;1, 1987. In addition, the Company has
represented that it qualified as a REIT for federal income tax purposes from January&nbsp;1, 1987
through December&nbsp;31, 2001.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Because of timing differences between the inclusion of income and deduction of expenses in arriving
at taxable income, and because the amount of nondeductible expenses, such as principal amortization
and capital expenditures, could exceed the amount of non cash deductions such as depreciation, it
is possible that the Company may not have sufficient cash or liquid assets at a particular time to
satisfy the Distribution Requirement. In such event, the Company may declare a consent dividend,
which is a hypothetical distribution to shareholders out of the earnings and profits of the
Company. The effect of such a consent dividend, to those shareholders who agree to such treatment,
would be that such shareholders would be treated for federal income tax purposes as if such amount
had been paid to them in cash and they had then immediately contributed such amount back to the
Company as additional paid-in capital. This treatment would result in taxable income to those
shareholders without the receipt of any actual cash distribution, but it would also increase their
tax basis in their stock by the amount of the taxable income recognized. A consent dividend does
not include amounts which, if distributed in money would constitute or be part of a preferential
distribution as defined in IRC &#167;562(c).<SUP style="font-size: 85%; vertical-align: text-top">8</SUP>
</DIV>



<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">7</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>See IRC &#167;&#167;561 and 562.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">8</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>See IRC &#167;565(b)(1).</TD>
</TR>

</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->B-15<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Cousins Properties Incorporated<BR>
Merrill Lynch &#038; Co.<BR>
Merrill Lynch, Pierce, Fenner &#038; Smith Incorporated<BR>
Morgan Stanley &#038; Co. Incorporated<BR>
J.P. Morgan Securities Inc.<BR>
September <B>&#091;&#95;&#95;&#95;&#093;</B>, 2009<BR>
Page 16

</DIV>






<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In determining whether it has paid dividends for any year in an amount sufficient to meet the
Distribution Requirement, the Company has represented that it will disregard any dividends treated
as &#147;preferential dividends&#148; under IRC &#167;562(c) and, if any dividend not so disregarded is determined
to be a preferential dividend (or if the Company is determined to have failed for any other reason
to pay the amount of dividends required by the preceding sentence), then the Company will pay a
deficiency dividend as necessary to avoid being disqualified as a REIT.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">If the Company fails to meet the Distribution Requirement in any taxable year due to an adjustment
to the Company&#146;s income by reason of a judicial decision, by agreement with the IRS, or, for
taxable years beginning on or after January&nbsp;1, 2005, as a result of the Company&#146;s determination and
reporting of an adjustment, the Company may pay a deficiency dividend to its shareholders, which
would relate back to the taxable year being adjusted for purposes of meeting the Distribution
Requirement in such taxable year. In such case, the Company would also be required to pay interest
plus a penalty to the IRS.<SUP style="font-size: 85%; vertical-align: text-top">9</SUP> The Company has represented that if it is determined to
have failed, for any reason, to pay the amount of dividends sufficient to meet the Distribution
Requirement, then the Company will pay a deficiency dividend as necessary to avoid being
disqualified as a REIT. In the event it is determined that the Company&#146;s income should be adjusted
for any taxable year, and such adjustment would otherwise result in disqualification of the Company
as a REIT for failure to meet the minimum distribution requirement for such year, the Company has
represented that it intends timely to declare and pay a deficiency dividend in accordance with IRC
&#167;860 in order to avoid being disqualified as a REIT.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">If the Company cannot declare a consent dividend or if it lacks sufficient cash to distribute 95
percent (90&nbsp;percent for taxable years beginning after December&nbsp;31, 2000) of its REIT taxable income
or to pay a deficiency dividend in appropriate circumstances, the Company could be required to
borrow funds or liquidate a portion of its investments in order to pay its expenses, make the
required cash distributions to shareholders, or satisfy its tax liabilities. There can be no
assurance that such funds will be available to the extent, and at the time, required by the
Company, in which case its status as a REIT could be lost.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>5.&nbsp;Other Requirements. </I></B>In addition to the foregoing, a corporation may not compute its taxable
income as a real estate investment trust consistent with the provisions of IRC &#167;857(b)(2) unless:
(i)&nbsp;the provisions of the IRC, Subtitle A, Chapter&nbsp;1, Subchapter M, Part&nbsp;II (i.e., IRC &#167;&#167;856
through 859, the &#147;REIT Sections&#148;) applied to the corporation for all taxable years beginning after
February&nbsp;28, 1986, or (ii)&nbsp;as of the close of the taxable year, the corporation has no earnings and
profits accumulated in any &#147;non-REIT year&#148;.<SUP style="font-size: 85%; vertical-align: text-top">10</SUP> For this purpose, the term &#147;non-REIT
year&#148; means any taxable year to which the provisions of the REIT Sections did not apply with
respect to the corporation. The Company has represented that other than earnings and profits that
were grandfathered under IRC &#167;857(a)(2)(A) related to taxable years beginning before February&nbsp;28,
1986, it has no, and will continue to have no, accumulated earnings and profits from any taxable
year for which it did not qualify as a REIT and has not succeeded by reason of any merger or other
non-taxable acquisition of assets (including any deemed acquisition of assets resulting from an
election to treat a subsidiary as a QRS) to the earnings and profits of any other entity
</DIV>


<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">9</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>See IRC &#167;860.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">10</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>See IRC &#167;857(a)(2).</TD>
</TR>

</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->B-16<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Cousins Properties Incorporated<BR>
Merrill Lynch &#038; Co.<BR>
Merrill Lynch, Pierce, Fenner &#038; Smith Incorporated<BR>
Morgan Stanley &#038; Co. Incorporated<BR>
J.P. Morgan Securities Inc.<BR>
September <B>&#091;&#95;&#95;&#95;&#093;</B>, 2009<BR>
Page 17

</DIV>






<DIV align="left" style="font-size: 10pt; margin-top: 6pt">taxable as a corporation. If, by reason of any merger (directly or through a QRS) or other
non-taxable acquisition of assets (including any deemed acquisition of assets resulting from an
election to treat a subsidiary as a QRS), the Company does succeed to the earnings and profits of
any other entity taxable as a corporation, then the Company intends to distribute to the Company&#146;s
shareholders all of such earnings and profits before the close of the taxable year of such merger
or acquisition. In the event of a determination (as defined in IRC &#167;860(e)) that the Company has
any such undistributed earnings and profit, the Company intends to timely avail itself of the
relief provisions of Treasury Regulation &#167;1.857-11(c) and IRC &#167;852(e) and declare and pay to its
shareholders a qualified designated distribution or distributions in an amount or amounts
sufficient to eliminate such earnings and profits.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Company has represented that if it were to fail to satisfy one or more requirements for REIT
qualification, other than an asset or income test violation of a type for which relief is otherwise
available as described above, pursuant to section 856(g), the Company would retain REIT
qualification if the failure was due to reasonable cause and not willful neglect, and the Company
would pay a penalty of $50,000 for each such failure. This relief provision is available to a REIT
in taxable years beginning on or after January&nbsp;1, 2005.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>B. Subsidiary Partnership Status</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In order to qualify as a partnership for federal income tax purposes, Treasury Regulations
&#167;&#167;301.7701-2 and 301.7701-3 (as effective for periods prior to January&nbsp;1, 1997) stipulated that an
unincorporated organization will be treated as a partnership if it has no more than two of the
following corporate characteristics:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>limited liability;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>continuity of life;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>free transferability of interests; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(4)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>centralized management.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">An organization will be deemed to possess the corporate characteristic of limited liability if
under local law there is no member who is personally liable for debts or claims against the
organization. In the case of a limited partnership, personal liability will not exist unless the
general partner has substantial assets (other than its interest in the partnership), which could be
reached by a creditor of the organization. Personal liability will also not exist when the general
partner is merely a &#147;dummy&#148; acting as an agent of the limited partners.<SUP style="font-size: 85%; vertical-align: text-top">11</SUP>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">An organization formed under a statute which essentially conforms to the Uniform Limited
Partnership Act will not have continuity of life. In addition, if the death, insanity, bankruptcy,
retirement, resignation
</DIV>


<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">11</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Treas. Reg. &#167;301.7701-2(d) (as effective prior to
January&nbsp;1, 1997).</TD>
</TR>

</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->B-17<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Cousins Properties Incorporated<BR>
Merrill Lynch &#038; Co.<BR>
Merrill Lynch, Pierce, Fenner &#038; Smith Incorporated<BR>
Morgan Stanley &#038; Co. Incorporated<BR>
J.P. Morgan Securities Inc.<BR>
September <B>&#091;&#95;&#95;&#95;&#093;</B>, 2009<BR>
Page 18

</DIV>





<DIV align="left" style="font-size: 10pt; margin-top: 6pt">or expulsion of any member will cause a dissolution of the organization unless other remaining
general partners agree to continue the partnership or at least a majority in interest of the
remaining partners agree to continue the partnership, continuity of life does not
exist.<SUP style="font-size: 85%; vertical-align: text-top">12</SUP>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">An organization whose members have the power, without the consent of other members, to substitute
for himself in the same organization a person who is not a member of the organization has free
transferability of interests. This power of substitution does not exist unless the member is able,
without the consent of other members, to confer upon his substitute all the attributes of his
interests in the organization. The characteristic of free transferability does not exist in a case
in which each member can, without the consent of other members, assign only his right to share in
profits, but cannot so assign his rights to participate in the management of the
corporation.<SUP style="font-size: 85%; vertical-align: text-top">13</SUP>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The IRS has also stated that it would issue an advance ruling that a partnership lacks free
transferability of interests if, throughout the life of the partnership, the partnership agreement
expressly restricts the transferability of partnership interests representing more than 20&nbsp;percent
of all interests in partnership capital, income, gain, loss, deduction and credit.<SUP style="font-size: 85%; vertical-align: text-top">14</SUP>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">An organization in which any person or group of persons that does not include all the members has
the continuing exclusive authority, without ratification by the members of that organization, to
make the management decisions necessary to conduct the business for which the organization was
formed has the corporate characteristic of centralized management.<SUP style="font-size: 85%; vertical-align: text-top">15</SUP> Centralized
management ordinarily exists in a limited partnership subject to a statute which essentially
conforms to the Uniform Limited Partnership Act, if substantially all the interests in the
partnership are owned by the limited partners.<SUP style="font-size: 85%; vertical-align: text-top">16</SUP>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Effective as of January&nbsp;1, 1997, the IRS adopted a classification system that permits a closely
held unincorporated business to elect its tax status (the &#147;Check-the-Box Rules&#148;), discarding the
four-factor classification system discussed immediately above. An unincorporated domestic business
entity (an &#147;Eligible Entity&#148; as defined in Treasury Regulation &#167;301-7701-3(a) (as effective January
1, 1997)) with at least two members, formed on or after January&nbsp;1, 1997, will generally be
classified as a partnership for federal tax purposes unless it elects to be treated as an
association taxable as a corporation.<SUP style="font-size: 85%; vertical-align: text-top">17</SUP> Under the Check-the-Box Rules, an Eligible
Entity in existence prior to January&nbsp;1, 1997, will have the same classification that the entity
claimed under Treasury Regulations &#167;&#167;301.7701-1 through 301.7701-3 (as in effect prior to January
1, 1997).<SUP style="font-size: 85%; vertical-align: text-top">18</SUP> In the case of a business entity that was in existence prior to January&nbsp;1,
</DIV>


<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">12</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Treas. Reg. &#167;301.7701-2(b)(1) (as effective prior to
January&nbsp;1, 1997).</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">13</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Treas. Reg. &#167;&#167;301.7701-2(e) and 301.7701-3(b)(2),
example 1 (as effective prior to January&nbsp;1, 1997).</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">14</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Rev. Proc. 92-33, 1992-1 C.B. 782.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">15</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Treas. Reg. &#167;301.7701-2(c)(1).</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">16</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Treas. Reg. &#167;&#167;301.7701-2(c)(4) and 301.7701-2(a)(5)
(as effective prior to January&nbsp;1, 1997).</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">17</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>See Treas. Reg. &#167;&#167;301-7701-1 through 301-7701-4 (as
effective January&nbsp;1, 1997).</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">18</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Treas. Reg. &#167;301-7701-3(b)(3)(i) (as effective
January&nbsp;1, 1997).</TD>
</TR>

</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->B-18<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Cousins Properties Incorporated<BR>
Merrill Lynch &#038; Co.<BR>
Merrill Lynch, Pierce, Fenner &#038; Smith Incorporated<BR>
Morgan Stanley &#038; Co. Incorporated<BR>
J.P. Morgan Securities Inc.<BR>
September <B>&#091;&#95;&#95;&#95;&#093;</B>, 2009<BR>
Page 19

</DIV>





<DIV align="left" style="font-size: 10pt; margin-top: 6pt">1997, the entity&#146;s claimed classification will be respected for all periods prior to January&nbsp;1,
1997, if (i)&nbsp;it had a reasonable basis (within the meaning of IRC &#167;6662) for its claimed
classification for federal income tax purposes, (ii)&nbsp;the entity, and all members of the entity
recognized the federal income tax consequences of any change in its classification within the sixty
months prior to January&nbsp;1, 1997, and (iii)&nbsp;neither the entity nor any of its partners was notified
in writing on or before May&nbsp;8, 1996, that its classification was under examination.<SUP style="font-size: 85%; vertical-align: text-top">19</SUP>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">A partnership can nonetheless be taxed as a corporation if it is a publicly traded partnership
under IRC &#167;7704. In addition, the IRS has adopted final regulations that provide an anti-abuse
rule (&#147;Anti-abuse Rule&#148;) under the partnership provisions of the IRC (&#147;Partnership Provisions&#148;).
Under the Anti-abuse Rule, if a partnership is formed or availed of in connection with a
transaction with a principal purpose of substantially reducing the present value of the partners&#146;
aggregate federal tax liability in a manner that is inconsistent with the intent of the Partnership
Provisions, the IRS can disregard the form of the transaction and recast it for federal income tax
purposes. The Anti-abuse Rule states that the intent of the Partnership Provisions is to permit
taxpayers to conduct business for joint economic profit through a flexible arrangement that
accurately reflects the partners&#146; economic agreement without incurring an entity level tax. The
regulations go on to provide that the Partnership Provisions are not intended to permit taxpayers
(i)&nbsp;to structure transactions using a partnership to achieve tax results that are inconsistent with
the underlying economic arrangements of the parties or the substance of the transactions; or (ii)
to use the existence of a partnership to avoid the purposes of other provisions of the IRC. The
purposes for structuring a transaction involving a partnership are determined based on all of the
facts and circumstances.<SUP style="font-size: 85%; vertical-align: text-top">20</SUP>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Company has represented that, commencing on or after January&nbsp;1, 1997, each of any Subsidiary
Partnership in existence prior to January&nbsp;1, 1997 or formed on or after January&nbsp;1, 1997, has been,
and will continue to be, a domestic &#147;eligible entity&#148; as that term is defined in Treasury
Regulation &#167;301.7701-3(a). For all periods prior to January&nbsp;1, 1997, the Company represented that
(i)&nbsp;each of any Subsidiary Partnership in existence prior to January&nbsp;1, 1997 claimed partnership
classification and had a reasonable basis (within the meaning of IRC &#167;6662) for its claimed
classification as a partnership (and not as an association taxable as a corporation) for federal
income tax purposes; (ii)&nbsp;each of any Subsidiary Partnership in existence prior to January&nbsp;1, 1997
and all of its respective partners recognized the federal income tax consequences of any change in
its classification within the sixty months prior to January&nbsp;1, 1997; and (iii)&nbsp;no Subsidiary
Partnership in existence prior to January&nbsp;1, 1997, nor any of its partners was notified in writing
on or before May&nbsp;8, 1996, that its classification was under examination. The Company has
represented that none of the Subsidiary Partnerships, with the exception of Funding, has
affirmatively elected or will affirmatively elect (on a Form&nbsp;8832 filed with the IRS or otherwise)
to be classified as an association taxable as a corporation for federal income tax purposes.
Moreover, the Company has represented that none of the Subsidiary Partnerships will change its form
of organization.
</DIV>


<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">19</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Treas. Reg. &#167;301.7701-3(h) (as effective January&nbsp;1,
1997).</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">20</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>See Treas. Reg. &#167;1.701-2.</TD>
</TR>

</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->B-19<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Cousins Properties Incorporated<BR>
Merrill Lynch &#038; Co.<BR>
Merrill Lynch, Pierce, Fenner &#038; Smith Incorporated<BR>
Morgan Stanley &#038; Co. Incorporated<BR>
J.P. Morgan Securities Inc.<BR>
September <B>&#091;&#95;&#95;&#95;&#093;</B>, 2009<BR>
Page 20

</DIV>




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Company has also represented that since January&nbsp;1, 1987, none of any amendments to any
Subsidiary Partnership agreement have affected the rights of the respective partners under such
agreement in a manner so as to alter the number of corporate characteristics applicable to the
Subsidiary Partnership for all periods prior to January&nbsp;1, 1997.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Company has also represented that no interests in any Subsidiary Partnership are traded on any
established securities market or are readily tradable on any secondary market or the substantial
equivalent of any secondary market, including any matching system or program.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>V.&nbsp;Limitations on Opinion. </I></B><B>No assurances are or can be given that the IRS will agree with the
foregoing conclusions in whole or in part although it is our opinion that they should. While the
opinion represents our considered judgment as to the proper tax treatment to the parties concerned
based upon the law as it existed at the relevant </B>time <B>periods and the facts as they were presented
to us, it is not binding upon the IRS or the courts. In the event of any change to the applicable
law or relevant facts, assumptions or representations, we would of necessity need to reconsider our
views. In rendering this opinion, we have also considered and relied upon the Internal Revenue
Code of 1986, as amended (the &#147;IRC&#148;), the regulations promulgated thereunder (the &#147;Regulations&#148;),
administrative rulings and the other interpretations of the IRC and Regulations by the courts and
the IRS, all as they exist as of the date hereof. It should be noted, however, that the IRC,
Regulations, judicial decisions, and administrative interpretations are subject to change at any
time and, in some circumstances, with retroactive effect. We can give no assurance, therefore,
that legislative enactments, administrative changes or court decisions may not be forthcoming that
would modify or supersede the opinion stated herein. In addition, there can be no assurance that
positions contrary to our opinion will not be taken by the IRS, or that a court considering the
issues will not hold contrary to such opinion. Moreover, this opinion represents our conclusions
based upon the documents, facts, assumptions and representations referred to above. Any material
amendments to such documents or changes in any significant facts after the date hereof, or
inaccuracy of such assumptions or representations could affect the opinion referred to herein.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>This opinion is expressed as of the date hereof, and we disclaim any undertaking to advise you of
any subsequent changes of matters stated, represented, covenanted, or assumed herein or any
subsequent changes in applicable law. You understand and agree that this opinion is solely for the
Company&#146;s information and benefit, is limited to the described transaction, and may not be relied
upon, distributed, disclosed, made available to, or copied by anyone other than the addressees,
without prior written consent or as described herein. We understand and agree that our opinion may
be used in connection with the Company&#146;s obligation under </B><B>Section 5(b)</B><B> of the Underwriting
Agreement dated September &#091;&nbsp;&nbsp;&nbsp;&#093;, 2009, to which Deloitte Tax is not a party. Further, subject to
the use permitted as described above, our opinion and the Deloitte Tax name may not be used or
otherwise referenced in any way in connection with future offerings under the Registration
Statement or the Supplement (including, by way of example, but not by way of limitation, in any
offering document).</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>In addition, this opinion is </I></B><B>based </B><B><I>upon:</I></B>
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->B-20<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Cousins Properties Incorporated<BR>
Merrill Lynch &#038; Co.<BR>
Merrill Lynch, Pierce, Fenner &#038; Smith Incorporated<BR>
Morgan Stanley &#038; Co. Incorporated<BR>
J.P. Morgan Securities Inc.<BR>
September <B>&#091;&#95;&#95;&#95;&#093;</B>, 2009<BR>
Page 21

</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B><I>a.</I></B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B><I>the representations, information, documents, and facts that we have included or
referenced in this opinion letter;</I></B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B><I>b.</I></B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B><I>our assumption that all of the representations and all of the originals, copies, and
signatures of documents reviewed by us are accurate, true, and authentic;</I></B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B><I>c.</I></B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B><I>our assumption that there will be timely execution and delivery of and performance as
required by the representations and documents;</I></B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B><I>d.</I></B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B><I>the understanding that we will only be responsible to provide an opinion with respect
to the specific tax issues and tax consequences opined upon herein no other federal, state,
or local taxes of any kind were considered;</I></B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B><I>e.</I></B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B><I>the law, regulations, cases, rulings, and other tax authority in effect as of the date
of this letter. If there are any subsequent changes in or to the foregoing tax authorities
(for which we shall have no specific responsibility to advise you), such changes may result
in our opinion being rendered invalid or necessitate (upon your request) a reconsideration
of the opinion; and</I></B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B><I>f.</I></B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B><I>your understanding and agreement that the result of this opinion may be audited and
challenged by IRS and other tax agencies, who may not agree with our conclusions. In this
regard, you understand that the opinion is not binding on the IRS, other tax agencies or
the courts and should never be considered a representation, warranty, or guarantee that the
IRS, other tax agencies or the courts will concur with the opinion;</I></B></TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Very truly yours,
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Deloitte Tax LLP
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->B-21<!-- /Folio -->
</DIV>



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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>&#091;Form of lock-up from directors, officers or other stockholders pursuant to Section&nbsp;5(h)&#093;</B>
</DIV>


<DIV align="right" style="font-size: 10pt; margin-top: 12pt">Exhibit&nbsp;C
</DIV>


<DIV align="right" style="font-size: 10pt; margin-top: 12pt">September&nbsp;14, 2009
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Merrill Lynch, Pierce, Fenner &#038; Smith<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Incorporated<BR>
Morgan Stanley &#038; Co. Incorporated<BR>
J.P. Morgan Securities Inc.,<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; as Representatives of the several<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Underwriters to be named in the<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; within-mentioned Underwriting Agreement

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Merrill Lynch, Pierce, Fenner &#038; Smith<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Incorporated<BR>
One Bryant Park<BR>
New York, New York 10036; and

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Morgan Stanley &#038; Co. Incorporated<BR>
1585 Broadway<BR>
New York, NY 10036; and

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">J.P. Morgan Securities Inc.<BR>
383 Madison Avenue<BR>
New York, New York 10179

</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">Re: &nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><U>Proposed Public Offering by Cousins Properties
Incorporated</U></TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Dear Sirs:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned, an officer and/or director of Cousins Properties Incorporated, a Georgia
corporation (the &#147;<U>Company</U>&#148;), understands that Merrill Lynch, Pierce, Fenner &#038; Smith
Incorporated and Morgan Stanley &#038; Co. Incorporated (in such capacity, the
&#147;<U>Representatives</U>&#148;) propose to enter into an Underwriting Agreement (the &#147;<U>Underwriting
Agreement</U>&#148;) with the Company, providing for the public offering (the &#147;<U>Public Offering</U>&#148;)
of shares of the Company&#146;s common stock, $1.00 par value per share (&#147;<U>Common Stock</U>&#148;). In
recognition of the benefit that such an offering will confer upon the undersigned as an officer
and/or director of the Company, and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the undersigned agrees with each underwriter to be
named in the Underwriting Agreement that, upon execution hereof and during a period of 60&nbsp;days from
the date of the Underwriting Agreement (including any extension thereof in accordance with the
terms hereof, the &#147;<U>Lock-Up Period</U>&#148;), the undersigned will not, without the prior written
consent of the Representatives, directly or indirectly, (i)&nbsp;offer, pledge, sell, contract to sell,
sell any option or contract to purchase, purchase any option or contract to sell, grant any option,
right or warrant for the sale of, or otherwise dispose of or transfer any of the shares of Common
Stock or any securities convertible into or exchangeable or exercisable for shares of Common Stock,
whether now owned or hereafter acquired by the undersigned or with respect to which the undersigned
has or hereafter acquires the power of
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->C-1<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Merrill Lynch, Pierce, Fenner &#038; Smith Incorporated<BR>
Morgan Stanley &#038; Co. Incorporated<BR>
J.P. Morgan Securities Inc.<BR>
September <B>&#091;&#95;&#95;&#95;&#093;</B>, 2009<BR>
Page 2

</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">disposition, or file, or cause to be filed, any registration statement under the Securities
Act of 1933, as amended, with respect to any of the foregoing (collectively, the &#147;<U>Lock-Up
Securities</U>&#148;) or (ii)&nbsp;enter into any swap or any other agreement or any transaction that
transfers, in whole or in part, directly or indirectly, the economic consequence of ownership of
the Lock-Up Securities, whether any such swap or transaction is to be settled by delivery of shares
of Common Stock or other securities, in cash or otherwise.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the foregoing, and subject to the conditions below, the undersigned may
transfer the Lock-Up Securities without the prior written consent of the Representatives, provided
that (1)&nbsp;the Representatives receive a signed lock-up agreement for the balance of the Lock-Up
Period from each donee, trustee, distributee, or transferee, as the case may be, (2)&nbsp;any such
transfer shall not involve a disposition for value, (3)&nbsp;other than with respect to clause (i)
below, such transfers are not required to be reported in any public report or filing with the
Securities and Exchange Commission, or otherwise, during the Lock-Up Period, and (4)&nbsp;other than
with respect to clause (i)&nbsp;below, the undersigned does not otherwise voluntarily effect any public
filing or report regarding such transfers during the Lock-Up Period:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(ii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>by will or intestate succession; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(iii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>as a <I>bona fide </I>gift or gifts; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(iv)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to any trust for the direct or indirect benefit of the
undersigned or the immediate family of the undersigned (for purposes of this
lock-up agreement, &#147;immediate family&#148; shall mean any relationship by blood,
marriage or adoption, not more remote than first cousin); or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(v)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>as a distribution to limited partners or stockholders of the
undersigned; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(vi)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to the undersigned&#146;s affiliates or to any investment fund or
other entity controlled or managed by the undersigned.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Furthermore, notwithstanding the foregoing, the undersigned may (1)&nbsp;sell shares of Common
Stock of the Company purchased by the undersigned on the open market following the Public Offering
if and only if (i)&nbsp;such sales are not required to be reported in any public report or filing with
the Securities Exchange Commission, or otherwise and (ii)&nbsp;the undersigned does not otherwise
voluntarily effect any public filing or report regarding such sales, (2)&nbsp;conduct a &#147;net&#148; or
&#147;cashless&#148; exercise of options to acquire shares of Common Stock in accordance with their terms,
provided that any Common Stock received upon such exercise shall be subject to the restrictions
contained in this lock-up agreement and (3)
forfeit shares of restricted Common Stock (that vest during the Lock-Up Period) to the Company
only to satisfy tax withholding requirements.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the foregoing, if:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>during the last 17&nbsp;days of the initial 60-day lock-up period, the Company
issues an earnings release or material news or a material event relating to the Company
occurs; or</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->C-2<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Merrill Lynch, Pierce, Fenner &#038; Smith Incorporated<BR>
Morgan Stanley &#038; Co. Incorporated<BR>
J.P. Morgan Securities Inc.<BR>
September <B>&#091;&#95;&#95;&#95;&#093;</B>, 2009<BR>
Page 3

</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>prior to the expiration of the initial 60-day lock-up period, the Company
announces that it will release earnings results or becomes aware that material news or
a material event will occur during the 16-day period beginning on the last day of the
initial 60-day lock-up period,</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">the restrictions imposed by this lock-up agreement shall continue to apply until the expiration of
the 18-day period beginning on the issuance of the earnings release or the occurrence of the
material news or material event, as applicable, unless the Representatives waive, in writing, such
extension.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned hereby acknowledges and agrees that written notice of any extension of the
initial 60-day lock-up period pursuant to the previous paragraph will be delivered by the
Representatives to the Company (in accordance with Section&nbsp;12 of the Underwriting Agreement) and
that any such notice properly delivered will be deemed to have been given to, and received by, the
undersigned. The undersigned further agrees that, prior to engaging in any transaction or taking
any other action that is subject to the terms of this lock-up agreement during the period from the
date of this lock-up agreement to and including the 34th day following the expiration of the
initial 60-day lock-up period, it will give notice thereof to the Company and will not consummate
such transaction or take any such action unless it has received written confirmation from the
Company that the initial 60-day lock-up period (as may have been extended pursuant to the previous
paragraph) has expired.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned also agrees and consents to the entry of stop transfer instructions with the
Company&#146;s transfer agent and registrar against the transfer of the Lock-Up Securities, except in
compliance with the foregoing restrictions.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;THIS LOCK-UP AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE
STATE OF NEW YORK.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This lock-up agreement shall automatically terminate upon the earliest to occur, if any, of
(1)&nbsp;the Representatives, on behalf of the Underwriters, advising the Company in writing, prior to
the execution of the Underwriting Agreement, that they have determined not to proceed with the
Public Offering, (2)&nbsp;the Company advising the Representatives in writing, prior to the execution of
the Underwriting Agreement, that it has determined not to proceed with the Public Offering, and (3)
termination of the Underwriting Agreement before the sale of any shares of Common Stock to the
Underwriters.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><I>&#091;Signature page follows.&#093;</I>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->C-3<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Merrill Lynch, Pierce, Fenner &#038; Smith Incorporated<BR>
Morgan Stanley &#038; Co. Incorporated<BR>
J.P. Morgan Securities Inc.<BR>
September <B>&#091;&#95;&#95;&#95;&#093;</B>, 2009<BR>
Page 4

</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Very truly yours,<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>Signature:
&nbsp;</TD>
    <TD colspan="3" style="border-bottom: 1px solid #000000" align="left">&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR>
    <TD align="left">&nbsp;</TD>
    <TD nowrap valign="top">Print Name:</TD>
    <TD colspan="3" style="border-bottom: 1px solid #000000" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD colspan="3" style="border-bottom: 1px solid #000000" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->C-4<!-- /Folio -->
</DIV>



</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>3
<FILENAME>g20533exv5w1.htm
<DESCRIPTION>EX-5.1
<TEXT>
<HTML>
<HEAD>
<TITLE>EX-5.1</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;5.1</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="55%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><IMG src="g20533king.gif" alt="(KING LOGO)">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">King &#038; Spalding LLP<br>
1180 Peachtree Street N.E.<br>
Atlanta, Georgia 30309-3521<br>
Phone: 404/ 572-4600<br>
Fax: 404/572-5100<br>
www.kslaw.com</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">September&nbsp;15, 2009
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Cousins Properties Incorporated<BR>
191 Peachtree Street, NE<BR>
Suite&nbsp;3600<BR>
Atlanta, Georgia 30303

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Re: <U>Registration of 46,000,000 Shares of Cousins Properties Incorporated Common Stock</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Ladies and Gentlemen:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We have acted as counsel for Cousins Properties Incorporated, a Georgia corporation (the
&#147;Company&#148;), in connection with the offering of shares of common stock, par value $1.00 per share
(&#147;Common Stock&#148;), by the Company pursuant to the Underwriting Agreement, dated September&nbsp;15, 2009
(the &#147;Underwriting Agreement&#148;), among the Company and Merrill Lynch, Pierce, Fenner &#038; Smith
Incorporated, Morgan Stanley &#038; Co. Incorporated and J.P. Morgan Securities Inc. as representatives
of the several underwriters (the &#147;Underwriters&#148;). The Underwriting Agreement provides for the
purchase by the Underwriters of 40,000,000 shares of the Company&#146;s Common Stock (the &#147;Firm Shares&#148;)
and, at the option of the Underwriters, up to 6,000,000 additional shares of Common Stock pursuant
to an overallotment option (such shares, collectively with the Firm Shares, the &#147;Shares&#148;).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In connection with this opinion, we have examined and relied upon such records, documents,
certificates and other instruments as in our judgment are necessary or appropriate to form the
basis for the opinions hereinafter set forth. In all such examinations, we have assumed the
genuineness of signatures on original documents and the conformity to such original documents of
all copies submitted to us as certified, conformed or photographic copies, and as to certificates
of public officials, we have assumed the same to have been properly given and to be accurate. As
to matters of fact material to this opinion, we have relied upon statements and representations of
representatives of the Company and public officials.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This opinion is limited in all respects to the laws of the State of Georgia, and no opinion is
expressed with respect to the laws of any other jurisdiction or any effect which such laws may have
on the opinions expressed herein. This opinion is limited to the matters stated herein, and no
opinion is implied or may be inferred beyond the matters expressly stated herein.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Based upon the foregoing, and subject to the assumptions, qualifications and limitations set
forth herein, we are of the opinion that, when issued and delivered in accordance with the terms of
the Underwriting Agreement, the Shares will be duly authorized and validly issued, fully paid and
nonassessable.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Cousins Properties Incorporated<BR>
September&nbsp;15, 2009<BR>
Page 2

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 16pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This opinion is given as of the date hereof, and we assume no obligation to advise you after
the date hereof of facts or circumstances that come to our attention or changes in law that occur
which could affect the opinions contained herein. This opinion is being rendered for the benefit
of the Company in connection with the matters addressed herein.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We hereby consent to the filing of this opinion as an Exhibit to the current report on Form
8-K filed on September&nbsp;17, 2009 and to the reference to us under the caption &#147;Legal Matters&#148; in the
Prospectus Supplement dated September&nbsp;15, 2009.
</DIV>
<DIV align="left" style="font-size: 10pt; margin-left: 59%; margin-top: 16pt">Very truly yours,
</DIV>

<DIV align="left" style="font-size: 10pt; margin-left: 59%; margin-top: 36pt">/s/ King &#038; Spalding LLP
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>



</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>4
<FILENAME>g20533exv99w1.htm
<DESCRIPTION>EX-99.1
<TEXT>
<HTML>
<HEAD>
<TITLE>EX-99.1</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;99.1</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><IMG src="g20533cousins.gif" alt="(COUSINS LOGO)">
</DIV>


<DIV align="right" style="font-size: 14pt; margin-top: 0pt">News Release&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>CONTACT:</B><BR>
Cameron Golden<BR>
Director of Investor Relations and Corporate Communications<BR>
(404)&nbsp;407-1984<BR>
<B><U>camerongolden@cousinsproperties.com</U></B>

</DIV>

<DIV align="center" style="font-size: 14pt; margin-top: 18pt"><B>COUSINS PROPERTIES ANNOUNCES PRICING OF<BR>
PUBLIC OFFERING OF COMMON STOCK</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">ATLANTA&#151;September&nbsp;15, 2009&#151; Cousins Properties Incorporated (the &#147;Company&#148;) (NYSE: CUZ) announced
today that it has priced its public offering of 40,000,000 shares of common stock at a price to the
public of $7.25&nbsp;per share. In addition, the Company has granted the underwriters a 30-day option
to purchase up to 6,000,000 additional shares of common stock to cover overallotments, if any.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The estimated net proceeds to the Company from the offering, before giving effect to any exercise
of the underwriters&#146; overallotment option, are expected to be
approximately $277.2 million, after
deducting the underwriting discount and estimated offering expenses payable by the Company. The Company intends to use the net proceeds from the sale of the shares of its common stock to
repay approximately $248.0&nbsp;million of existing indebtedness under its unsecured revolving credit
facility and the balance for general corporate purposes, which may include repayment of additional
indebtedness under the unsecured revolving credit facility. Subject to customary closing conditions, the offering is expected to close on or about
September&nbsp;21, 2009.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">BofA Merrill Lynch, Morgan Stanley and J.P. Morgan are acting as the joint book-running managers
for the offering.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This offering was made pursuant to a prospectus supplement to the Company&#146;s prospectus dated April
13, 2009, filed as part of the Company&#146;s shelf registration statement relating to these securities.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy the
securities described herein, nor shall there be any sale of these securities in any state or
jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or other jurisdiction.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Copies of the final prospectus supplement and accompanying prospectus relating to these securities
may be obtained, when available, by contacting: BofA Merrill Lynch, Attention: Prospectus
Department, 4 World Financial Center, New York, New York 10080, telephone: 212-449-1000, Morgan
Stanley &#038; Co. Incorporated, Attention: Prospectus Department, 180 Varick Street, Second Floor, New
York, New York 10014 or email a request to <U>prospectus@morganstanley.com</U>, or J.P. Morgan Securities
Inc., Attention: National Statement Processing, Prospectus Library, 4 Chase Metrotech Center, CS
Level, Brooklyn, New York 11245, telephone: 718-242-8002.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>About Cousins Properties</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Cousins Properties Incorporated is a diversified real estate company with experience in
development, acquisition, financing, management and leasing. Based in Atlanta, the Company actively
invests in office, multi-family, retail, and land development projects. The Company is a fully
integrated equity real estate investment trust (REIT)&nbsp;and trades on the New York Stock Exchange
under the symbol CUZ.
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Forward-Looking Statements</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Certain matters discussed in this press release are forward-looking statements within the meaning
of the federal securities laws and are subject to uncertainties and risk and actual results may
differ materially from projections. Readers should carefully review the Company&#146;s financial
statements and notes thereto, as well as the risk factors described in Part&nbsp;I, Item&nbsp;1A of the
Company&#146;s Annual Report on Form 10-K for the year ended December&nbsp;31, 2008 and other documents the
Company files from time to time with the Securities and Exchange Commission. 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.
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>




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