NEW YORK, March 19 /PRNewswire-FirstCall/ -- Cohen & Steers announced today that its closed-end funds will redeem $331 million of their auction market preferred securities (AMPS), bringing the total amount redeemed to $2.626 billion or approximately 74% of AMPS issued. The newly announced redemptions will be at par value and on a pro rata basis in the amounts indicated below.*
The firm continues to evaluate ways to provide liquidity to the funds' AMPS holders, and will keep all shareholders informed as further information regarding AMPS redemptions becomes available. For more information and periodic updates, please visit cohenandsteers.com.
Cohen & Steers Worldwide Realty Income Fund, Inc. Series CUSIP Number Number of Shares Amount Redemption Date Redeemed Redeemed M7 19248J209 300 $7,500,000 March 27, 2009 W28 19248J308 300 $7,500,000 March 26, 2009 Cohen & Steers Advantage Income Realty Fund, Inc. Series CUSIP Number Number of Shares Amount Redemption Date Redeemed Redeemed M 19247W201 263 $6,575,000 March 27, 2009 W 19247W300 263 $6,575,000 March 26, 2009 TH 19247W409 214 $5,350,000 March 27, 2009 F28 19247W508 227 $5,675,000 March 27, 2009 T7 19247W607 273 $6,825,000 March 25, 2009 Cohen & Steers Premium Income Realty Fund, Inc. Series CUSIP Number Number of Shares Amount Redemption Date Redeemed Redeemed M 19247V203 243 $6,075,000 March 27, 2009 T 19247V302 243 $6,075,000 March 25, 2009 F 19247V401 243 $6,075,000 March 26, 2009 TH 19247V500 243 $6,075,000 March 27, 2009 M28 19247V609 205 $5,125,000 March 27, 2009 W28 19247V708 343 $8,575,000 March 27, 2009 Cohen & Steers Quality Income Realty Fund, Inc. Series CUSIP Number Number of Shares Amount Redemption Date Redeemed Redeemed T 19247L205 316 $7,900,000 March 25, 2009 TH 19247L304 316 $7,900,000 March 27, 2009 F 19247L403 316 $7,900,000 March 26, 2009 W 19247L502 316 $7,900,000 March 26, 2009 M28 19247L601 272 $6,800,000 March 27, 2009 M7 19247L700 424 $10,600,000 March 27, 2009 Cohen & Steers REIT and Preferred Income Fund, Inc. Series CUSIP Number Number of Shares Amount Redemption Date Redeemed Redeemed M7 19247X209 425 $10,625,000 March 27, 2009 T7 19247X308 425 $10,625,000 March 25, 2009 W7 19247X407 425 $10,625,000 March 26, 2009 TH7 19247X506 425 $10,625,000 March 27, 2009 F7 19247X605 425 $10,625,000 March 26, 2009 W28A 19247X704 362 $9,050,000 March 27, 2009 W28B 19247X803 362 $9,050,000 March 27, 2009 TH28 19247X860 285 $7,125,000 March 27, 2009 T28 19247X878 264 $6,600,000 March 25, 2009 W28C 19247X886 362 $9,050,000 March 27, 2009 Cohen & Steers Select Utility Fund, Inc. Series CUSIP Number Number of Shares Amount Redemption Date Redeemed Redeemed M7 19248A208 26 $650,000 March 27, 2009 T7 19248A307 26 $650,000 March 25, 2009 W7 19248A406 26 $650,000 March 26, 2009 TH28 19248A505 26 $650,000 March 27, 2009 F7 19248A604 26 $650,000 March 26, 2009 T28 19248A703 21 $525,000 March 27, 2009 T7-2 19248A802 26 $650,000 March 25, 2009 TH7 19248A877 23 $575,000 March 27, 2009 Cohen & Steers REIT and Utility Income Fund, Inc. Series CUSIP Number Number of Shares Amount Redemption Date Redeemed Redeemed M7 19247Y207 418 $10,450,000 March 27, 2009 T7 19247Y306 418 $10,450,000 March 25, 2009 W7 19247Y405 418 $10,450,000 March 26, 2009 TH7 19247Y504 418 $10,450,000 March 27, 2009 F7 19247Y603 418 $10,450,000 March 26, 2009 T28 19247Y702 374 $9,350,000 March 27, 2009 F28 19247Y801 374 $9,350,000 March 26, 2009 T7-2 19247Y850 474 $11,850,000 March 25, 2009 M28 19247Y876 274 $6,850,000 March 27, 2009 W28 19247Y884 374 $9,350,000 March 27, 2009 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, 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.
* Redemptions will be allocated among participating broker/dealers by the Depository Trust Company using a predetermined methodology, and each broker/dealer will allocate the redeemed shares to the underlying beneficiaries according to its own procedures.
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 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 all or a portion of their leverage on terms and conditions acceptable to the funds and in a timely manner; (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.
