Cogdell Spencer Inc. Acquires Central New York Medical Center in Syracuse, N.Y.

CHARLOTTE, N.C., June 29 /PRNewswire-FirstCall/ -- Cogdell Spencer Inc. (NYSE: CSA) announced this morning that they expect to close today on the acquisition of Central New York Medical Center in Syracuse, New York for approximately $36.8 million. The six-story, 111,634 square foot facility is located on the campus of the Crouse Hospital and includes the 469 space parking garage.

Marking entry into its twelfth state, this acquisition brings both a new market and new client into Cogdell Spencer's portfolio. Crouse Hospital, a 566-bed not-for-profit hospital, is connected to the facility via an underground tunnel for convenient access. The building is also adjacent to 366-bed SUNY-Upstate Hospital and Syracuse University.

The $36.8 million deal will consist of cash and operating partnership units. No brokers were involved.

"Many of the physician tenants practice at both Crouse and SUNY, which represent a combined local market share of 50 percent," said Matthew Nurkin, Vice President of Acquisitions for Cogdell Spencer Inc. "This makes the acquisition ideal for entry into our fifth new market since going public in 2005."

Central New York Medical Center is located in downtown Syracuse with tenants that include Crouse Hospital, Cardiology, PC and Internists Associates of Central New York. The property will continue to be managed by Pioneer Companies, a real estate operating company based in Syracuse.

"We have enjoyed a long-term relationship with Pioneer Companies and expect to work with them as we expand our medical portfolio in the Central New York market," said Frank Spencer, President and CEO of Cogdell Spencer Inc.

About Cogdell Spencer Inc.

Charlotte-based Cogdell Spencer Inc. (NYSE: CSA) is a fully-integrated, self-administered and self managed real estate investment trust (REIT) that invests in specialty office buildings for the medical profession, including medical offices, ambulatory surgery and diagnostic centers. At present, the Cogdell Spencer Inc. portfolio consists of 53 wholly owned properties, four joint venture properties and 58 managed medical office buildings. For more information on Cogdell Spencer Inc., please visit the Company's website at http://www.cogdellspencer.com/.

Forward-Looking Statements

This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements reflect the Company's views about future events and are subject to risks, uncertainties, assumptions and changes in circumstances that may cause actual results to differ materially. Factors that may contribute to these differences include, but are not limited to the following: market trends; our ability to obtain future financing arrangements; our ability to renew ground leases; defaults by tenants; and changes in the reimbursement available to our tenants by government or private payors. For a further list and description of such risks and uncertainties, see the reports filed by the Company with the Securities and Exchange Commission, including the Company's 2006 Annual Report on Form 10-K. Although the Company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be realized. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.