COUSINS PROPERTIES INC — Director's Dealing 2007

Feb 21, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COUSINS PROPERTIES INC (CUZ)
CIK: 0000025232
Period of Report: 2007-02-20

Reporting Person: COURTS RICHARD W II (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-02-20	Common Stock	A	453	$35.2545	Acquired	88683	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1687500	Indirect
Common Stock	3375	Indirect
Common Stock	387751	Indirect
Common Stock	12309	Indirect

Footnotes

F5: Shares held by the Courts Foundation for which the reporting person serves as President.

F6: Shares held by the reporting person's wife.

F2: 1,216 shares held by the reporting person through an Individual Retirement Plan. 10,274 shares held by the reporting person through a Simplified Employee Pension Plan. These shares will vest 25% per year on each anniversary date of the grant, and CPI will hold these shares until such shares become vested. While the shares are being held prior to vesting, the reporting person will have the right to receive all cash dividends and to vote the restricted shares. All unvested shares will forfeit if the Director's service as a member of the CPI Board of Directors terminates, unless term is due to death of reporting person.

F3: Shares held by Atlantic Investment Company for which the reporting person serves as Chairman.

F1: Stock granted in lieu of cash for director's fees under the Cousins Properties Incorporated 1999 Incentive Stock Plan.

F4: Shares held by Atlantic Investment Company in a profit sharing account for which the reporting person serves as Chairman.