Cohen & Steers represents the composition of a fund’s distributions during 2008. Cohen & Steers International Realty Fund, Inc., Cohen & Steers Asia Pacific Realty Shares, Inc., and Cohen & Steers European Realty Shares, Inc. do not anticipate making year-end ordinary income distributions in 2008 due to losses in foreign securities classified as passive foreign investment companies that were held by each of these funds.
The company doesnt expect its open-end funds to make capital gain distributions for 2008 and predicts that the funds mentioned below will make year-end ordinary income distributions on 19 December 2008 to shareholders of record as of 18 December 2008, with an ex-dividend date of 19 December 2008.
The following table introduces the name of fund (on the left) and projected ordinary income distribution (on the right). Its important to notice that projections represent estimates and are subject to change based on portfolio, market and shareholder activity, and tax adjustments.
Cohen & Steers Realty Shares, Inc.
$0.53-$0.63 per share
Cohen & Steers Realty Income Fund, Inc.
– Class A
$0.06-$0.11 per share
– Class B
$0.05-$0.10 per share
– Class C
$0.05-$0.10 per share
– Class I
$0.07-$0.12 per share
Cohen & Steers Institutional Realty Shares, Inc.
$0.38-$0.43 per share
Cohen & Steers Dividend Value Fund, Inc.
– Class A
$0.04-$0.09 per share- Class C
$0.02-$0.07 per share- Class I
$0.05-$0.10 per share
Cohen & Steers Institutional Global Realty Shares, Inc. $0.12-$0.17 per share
Cohen & Steers Global Infrastructure Fund, Inc.
– Class A
$0.15-$0.20 per share- Class B
$0.10-$0.15 per share- Class C
$0.10-$0.15 per share- Class I
$0.17-$0.22 per share
Cohen & Steers Global Realty Shares, Inc.
– Class A
$0.50-$0.60 per share- Class B
$0.38-$0.48 per share- Class C
$0.38-$0.48 per share- Class I
$0.58-$0.68 per share
The view of fund’s distributions during a year may change substantially after year-end. If these changes occur, they may reduce the net investment income component of fund distributions and increase the return of capital component.
This information reflects distribution activities at the fund level only. Certain of the funds own securities issued by REITs. A portion of the dividends paid by REITs may be recharacterized for tax purposes following year-end as capital gain and/or return of capital. To the extent this occurs, distributions paid by the fund during the year also will be reclassified to reflect these REIT recharacterizations.
The statement that funds are not expected to pay capital gain or ordinary income distributions for 2008 is also a forecast and is subject to change.
L.D.