CHARLOTTE, NC (REIT Media) - Cogdell Spencer Inc. (NYSE: CSA) announced today the $4.55 million acquisition of the leasehold interest in floors six and seven of St. Mary's North Medical Office Building, a seven-story multi-tenant medical office building located on the campus of St. Mary's Hospital in Richmond, Virginia.

The purchase price does not include transaction costs. The acquisition was funded by Cogdell Spencer Inc.'s existing internal line of credit.

St. Mary's Hospital is the 391-bed flagship hospital for Bons Secours -- Richmond Health System, which is part of the national, not-for-profit Bons Secours Health System Inc., an existing client for Cogdell Spencer Inc.

Consera Healthcare Real Estate (a subsidiary of Cogdell Spencer Inc.) manages St. Mary's North Medical Office Building, which is approximately 101,000 square feet. The property is physically attached to St. Mary's Hospital and has a stabilized occupancy rate. Tenants include strong regional providers such as Commonwealth Physicians for Women PC and MCV Associated Physicians. The two floors of St. Mary's North Medical Office Building add 30,617 square feet to Cogdell Spencer Inc.'s Richmond area portfolio, which includes Hanover Medical Office Building I, acquired in early 2006.

"We are pleased to expand our relationship with Bons Secours -- Richmond Health System," said Matthew Nurkin, Vice President of Acquisitions for Cogdell Spencer Inc. "This acquisition brings our total relationship with this valued client to approximately 183,000 square feet, and we look forward to additional growth opportunities in the Richmond market."

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 59 wholly owned properties and consolidated joint ventures, three unconsolidated joint venture properties and 53 managed medical office buildings. For more information on Cogdell Spencer Inc., please visit the Company's website at 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.