Cohen & Steers Realty Focus Fund Receives Three-Year Performance Award from Lipper NEW YORK, March 24 /PRNewswire-FirstCall/ -- Cohen & Steers Realty Focus Fund Class I Shares (NASDAQ:CSSPX) received the 2005 Lipper three-year performance award in the Real Estate Funds category for the period ended December 31, 2004. "Cohen & Steers Realty Focus Fund has provided industry- leading performance over the past three years," remarked Joseph Harvey, president of Cohen & Steers and a portfolio manager for the fund. "We believe the fund's performance reflects the strength of our investment team and the discipline of our investment process." Jim Corl, executive vice president and co-portfolio manager noted, "The fund's strategy is to invest in a limited number of companies, selected using a proprietary valuation and portfolio construction model that emphasizes cash flow multiple, cash flow growth rate, and underlying real estate asset value." Cohen & Steers Realty Focus Fund Class I Shares Total Returns Average annual returns as of 12/31/04 Period Cohen & Steers NAREIT Equity S&P 500 Index Realty Focus Fund REIT Index (Class I Shares)* 1 Year 40.98% 31.58% 10.88% 3 Years 30.64% 23.27% 3.59% 5 Years 19.20% 21.94% -2.29% Since Inception 14.97% 13.30% 6.84% (5/8/97) * Returns for Class A, B and C shares, which were first offered on September 30, 2004, will be lower due to sales charges and differing expenses. Performance data quoted represent past performance, which is no guarantee of future results. The investment return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. Total returns for the fund, current to the most recent month-end, can be obtained by visiting http://cohenandsteers.com/. The performance data quoted include change in net asset value and reinvestment of dividends and capital gains. Cohen & Steers Realty Focus Fund, Inc. seeks maximum capital appreciation over the long term through investment in Real Estate Investment Trusts (REITs) and other real estate oriented companies. Additional information about Cohen & Steers Realty Focus Fund, or any of the firm's open or closed-end funds, can be found at the firm's Web site, http://cohenandsteers.com/. Cohen & Steers is a manager of high-income equity portfolios, specializing in U.S. and global real estate securities, preferred securities, utilities and other high dividend paying common stocks. Based 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. Please consider the fund's investment objective, risks, charges and expenses carefully before investing. This and other information may be obtained by calling 1-800-330-7348 or visiting http://cohenandsteers.com/ and requesting a prospectus. Please read the prospectus carefully before investing. The fund's advisor has agreed to waive fees and/or reimburse expenses through December 31, 2005. Without this arrangement, returns would have been lower. Because the fund concentrates its investments in real estate securities, there are special risks associated with investing in the fund. These include falling property values due to increasing vacancies or declining rents resulting from economic, legal, or technological developments. In addition, because of the fund's policy of investing in a limited number of issuers, the fund may be subject to greater risk of loss than a fund that has a more diversified portfolio. The highest Lipper Leader for Consistent Return (Effective Return) value within each eligible classification determines the fund classification winner over three, five, or 10 years. Lipper Leader scores for Consistent Return reflect funds' historical risk-adjusted returns, adjusted for volatility, relative to peers. The scores are subject to change every month and are calculated for the following time periods: three-year, five-year, 10-year, and overall. The overall calculation is based on an equal-weighted average of percentile ranks for the Consistent Return metrics over three-, five-, and 10-year periods (if applicable). The highest 20% of funds in each classification are named Lipper Leaders for Consistent Return, the next 20% receive a score of 2, the middle 20% are scored 3, the next 20% are scored 4, and the lowest 20% are scored 5. For the three-year period ended December 31, 2004, there were 149 funds in the Real Estate category. For periods ended February 28, 2005, the fund was designated as a Lipper Leader for the three-year period (out of 150 funds), received a score of 5 for the five-year period (out of 119 funds) and received an overall score of 3 (out of 151 funds). Investors are cautioned that some peer groups are inherently more volatile than others, and even Lipper Leaders for Consistent Return in the most volatile groups may not be well-suited to shorter-term goals or less risk-tolerant investors. DATASOURCE: Cohen & Steers Realty Focus Fund Class I Shares CONTACT: John J. McCombe, executive vice president, director of sales and marketing of Cohen & Steers, Inc., +1-212-832-3232 Web site: http://www.cohenandsteers.com/

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