CHARLOTTE, NC (REIT Media) March 18, 2008 - Cogdell Spencer Inc. (NYSE: CSA) announced today that its Board of Directors has declared a quarterly dividend of $0.35 per common share payable on April 21, 2008 to stockholders of record on March 31, 2008. The dividend covers the first quarter of 2008.

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 61 wholly owned properties and consolidated joint ventures, three unconsolidated joint venture properties and 53 managed medical office buildings. On March 10, 2008, Cogdell Spencer Inc. merged with Marshall Erdman & Associates. As the leader in healthcare design-build, Erdman brings a new range of offerings to Cogdell Spencer's clients. Welcome to the new Cogdell Spencer Inc. 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 Form 10-K for the year ended December 31, 2007. 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.