Cohen & Steers to Acquire Remaining 50% Interest in Houlihan Rovers

Cohen & Steers to Acquire Remaining 50% Interest in Houlihan Rovers

October 06, 2006

    NEW YORK, Oct. 6 /Xinhua-PRNewswire/ -- Cohen &
Steers, Inc. 
(NYSE: CNS) has entered into an agreement to purchase the
remaining 50% ownership stake in its Brussels based
affiliate, Houlihan Rovers S.A. The purchase price will be
paid using a combination of cash and Cohen & Steers
restricted stock that will be delivered over three years.
Joseph Houlihan and Gerios Rovers, co-founders of Houlihan
Rovers, will enter into employment and non-compete
agreements and will continue to oversee the operations of
the European asset management business, which will be
conducted from Brussels and London. The purchase is subject
to Belgian regulatory approval and other customary closing
conditions and is expected to close in the fourth quarter
of 2006.  

    "Europe is a key market for our global real estate
securities business.  This acquisition enables us to
complete the integration of the Houlihan Rovers' asset
management team," commented Robert H. Steers,
co-chairman and co-chief executive officer of Cohen &
Steers.

    Martin Cohen, co-chairman and co-chief executive
officer of Cohen & Steers added, "We have been
impressed with the depth and experience of Houlihan Rovers'
investment team and the outstanding results they have
achieved for their clients.  This transaction allows us to
finalize the integration of our investment administration,
legal and marketing departments." 

    "We are pleased to join Cohen & Steers and
complete the integration of our firms," said Joseph
Houlihan. "We look forward to continuing to serve our
clients by offering them the same high quality investment
services that we have provided since our inception."

    Gerios Rovers, co-founder of Houlihan Rovers added,
"Houlihan Rovers' clients will continue to benefit
from having access to Cohen & Steers' global resources
and its large, experienced research team.  We believe that
our investors will gain significant benefits from being a
part of Cohen & Steers, a leader in global real estate
securities." 

    About Cohen & Steers.  Cohen & Steers is a
manager of high-income equity portfolios, specializing in
U.S. REITs, international real estate securities, preferred
securities, utilities and large cap value stocks.
Headquartered in New York City, the firm serves individual
and institutional investors through a wide range of
open-end funds, closed-end funds and separate accounts.

    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 believes that these factors include, but are not
limited to, those described in the "Risk Factors"
section of the Company's Annual Report on Form 10-K for the
year ended December 31, 2005, which is accessible on the
Securities and Exchange Commission's website at
http://www.sec.gov and on Cohen & Steers website at
cohenandsteers.com. These factors should not be construed
as exhaustive and should be read in conjunction with the
other cautionary statements that are included in this
release.  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.

    CONTACT: 
 
     Matthew S. Stadler
     Cohen & Steers, Inc.
     Executive Vice President and Chief Financial Officer
     Tel: [phone]

SOURCE  Cohen & Steers, Inc.