Cohen & Steers Announces Information Regarding 2008 Year-End Capital Gains for Closed-End Funds

NEW YORK, Oct. 30  /PRNewswire-FirstCall/ -- Cohen & Steers (NYSE:CNS) announced today that its closed-end funds do not anticipate making capital gain distributions to their common shareholders in 2008.* Distributions for the months of October, November and December, which were announced on September 17, 2008, will be paid pursuant to the funds' level-rate policy. Monthly distribution information for each fund is posted on the Cohen & Steers Web site at http://www.cohenandsteers.com/.

*You can find more information regarding the tax character of fund distributions by visiting our Web site. In early 2009, shareholders will receive notification in a Form 1099-DIV of the exact composition of all distributions for the year and the related tax treatment. A portion of the distributions paid by Cohen & Steers Global Income Builder, Inc. (NYSE:INB) during 2008 will be recharacterized as capital gains for federal income tax purposes to meet the requirements of the Internal Revenue Code.

About Cohen & Steers

Cohen & Steers is a manager of income-oriented equity portfolios specializing in U.S. and international real estate securities, large cap value stocks, utilities and listed infrastructure, and preferred securities. The company also offers alternative investment strategies such as hedged real estate securities portfolios and private real estate multimanager strategies. Headquartered in New York City, with offices in London, Brussels, Hong Kong and Seattle, Cohen & Steers serves individual and institutional investors through a broad range of investment vehicles.

Forward-Looking Statements

This press release and other statements that Cohen & Steers may make may contain forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which reflect the company's current views with respect to, among other things, its operations and financial performance. You can identify these forward-looking statements by the use of words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "seeks," "approximately," "predicts," "intends," "plans," "estimates," "anticipates," or the negative versions of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties.

Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. The company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise. 

DATASOURCE: Cohen & Steers



CONTACT:  Francis C. Poli, Executive Vice President and General Counsel,

Cohen & Steers Inc., [phone]



Web Site:  http://www.cohenandsteers.com/ 

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