Cogdell Spencer Inc. Announces Characteristics of 2011 Preferred Stock Dividend

CHARLOTTE, N.C., Feb. 20, 2012 /PRNewswire/ -- Cogdell Spencer Inc. (NYSE: CSA) announced today the tax characteristics of its 2011 dividends paid with respect to its 8.500% Series A Cumulative Redeemable Perpetual Preferred Stock.  We are releasing this information to assist those required to distribute Form 1099s on the Company's dividend.  This release is based on an estimate of "earnings and profits" as defined by the Internal Revenue Service.  No material change in these classifications is expected.

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During 2011, the Company paid one prorated dividend of $0.419 for the period from December 20, 2010 (date of issuance) through February 28, 2011 and three quarterly dividends of $0.53125 per share for the periods March 1, 2011 through May 31, 2011, June 30, 2011 through August 31, 2011 and September 1, 2011 through November 30, 2011, totaling $2.01275 per share for the year.  The dividends of $2.01275 per share are classified for income tax purposes as 89.0% taxable ordinary dividend and 11.0% capital gain (3.7% long term capital gain and 7.3% unrecaptured Section 1250 gain).  No portion of the dividends constitutes "qualified dividends" eligible for the reduced rates on dividends.  The Company urges its stockholders to consult with their own tax advisors with respect to the federal, state and local income tax consequences of these dividends.

About Cogdell Spencer Inc.
Charlotte-based Cogdell Spencer Inc. (NYSE:CSA), healthcare's preferred real estate partner, is a real estate investment trust ("REIT") focused on planning, owning, developing, constructing, and managing medical facilities.  Through strategically managed, customized facilities, we help our clients deliver superior healthcare.  Learn more about Cogdell Spencer Inc. and its subsidiaries at www.cogdell.com.

Forward-Looking Statements
Certain statements contained in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements relate to future events or our future financial performance. We generally identify forward-looking statements by terminology such as "may," "will," "could," "would," "believes," "anticipate," "intend," "projects," "should," "estimates," "expects" and other similar words or phrases.

Any forward-looking statements are based upon our historical performance and on our current plans, estimates and expectations.  The inclusion of this forward-looking information should not be regarded as a representation by us that the future plans, estimates or expectations will be achieved. Such forward-looking statements are subject to various risks, uncertainties, assumptions and other important factors that could cause our actual results, performance or achievements, or industry results, to differ materially from any predictions of future results, performance or achievements that we express or imply in this release. Such factors include those discussed in the Company's Annual Report on Form 10-K for the year ended December 31, 2010 filed with the Securities and Exchange Commission and the other risks described in documents subsequently filed by the Company with the Securities and Exchange Commission.

We undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events. Investors are cautioned not to place undue reliance on any of these forward-looking statements.

SOURCE Cogdell Spencer Inc.

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