NEW YORK, Sept. 24 /PRNewswire-FirstCall/ -- Cohen & Steers announced
today that approximately 57% of the auction market preferred securities (AMPS)
issued by Cohen & Steers Quality Income Realty Fund, Inc. (NYSE: RQI) will be
redeemed at par value and on a pro rata basis in October 2008.*
The redemption amounts and details are:
CUSIP Number of Amount Redemption
Series Number Shares Redeemed Date
M7 19247L700 2,166 $54,150,000 October 14, 2008
T 19247L205 1,613 $40,325,000 October 15, 2008
W 19247L502 1,613 $40,325,000 October 9, 2008
TH 19247L304 1,613 $40,325,000 October 17, 2008
F 19247L403 1,613 $40,325,000 October 20, 2008
M28 19247L601 1,382 $34,550,000 October 21, 2008
The firm continues to evaluate ways to provide liquidity to our funds'
AMPS holders and will keep all shareholders informed as further information
becomes available. For more information and periodic updates, please visit
www.cohenandsteers.com.
* Redemptions will be allocated among participating broker/dealers by the
Depository Trust Company using a predetermined methodology, and each
broker/dealer allocates the redeemed shares to the underlying beneficiaries
according to its own procedures.
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 securities, 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.
The following factors, among others, could cause actual results to differ
materially from forward-looking statements: (1) the ability of Cohen & Steers
and the Cohen & Steers closed-end funds that have issued AMPS to continue to
develop and finalize fund-by-fund specific proposals to restructure the
leverage of such funds; (2) the need for such Cohen & Steers funds to obtain
formal fund-by-fund approval from the funds' Board of Directors for certain
types of specific proposals as they are developed and finalized; (3) the
ability of such Cohen & Steers funds to negotiate and obtain from third
parties the necessary debt facilities and other commitments and agreements
necessary for the Cohen & Steers funds to refinance their leverage on terms
and conditions acceptable to the funds; (4) the effects of changes in market
and economic conditions, including higher costs and expenses associated with
refinancing; (5) other legal and regulatory developments; and (6) other
additional risks and uncertainties.
SOURCE Cohen & Steers Quality Income Realty Fund, Inc.
