Cohen & Steers Realty Income Fund, Inc. Announces Distribution

NEW YORK, Dec. 31 /PRNewswire-FirstCall/ -- The Board of Directors of
Cohen & Steers Realty Income Fund, Inc. has declared a distribution payable on
December 31, 2007 to shareholders of record on December 28, 2007, with an
ex-dividend date of December 31, 2007.* The amount payable to each class of
shares is as follows:
Class A Shares (Nasdaq: CSEIX, Cusip No.: 191912104) -- $1.849 per
share, $0.193 of which is ordinary income and $1.656 of which is long-term

capital gain.

Class B Shares (Nasdaq: CSBIX, Cusip No. 191912203) -- $1.826 per
share, $0.170 of which is ordinary income and $1.656 which is long-term
capital gain.

Class C Shares (Nasdaq: CSCIX, Cusip No. 191912302) -- $1.825 per
share, $0.169 of which is ordinary income and $1.656 which is long-term
capital gain.

Class I Shares (Nasdaq:: CSDIX, Cusip No. 191912401) -- $1.863 per
share, $0.207 of which is ordinary income and $1.656 which is long-term
capital gain.

Web site: http://www.cohenandsteers.com

*Shareholders should keep in mind that certain broker-dealers may
distribute information on fund capital gain distributions based on preliminary
data and subsequently distribute revised reports after the fund calculates
final distribution amounts for the 2007 taxable year.
You should also remember that the net asset value of a fund with a capital
gain distribution will decline on the "ex-dividend" date to reflect the
adjusted net asset value of the portfolio after the distribution, in addition
to any effect the market's performance had on the securities within the fund's
portfolio on that day. Capital gain distributions do not affect the overall
performance of an investment in a fund. If you own funds in a retirement plan
or any type of IRA, you will not owe any current taxes on those distributions.
Income may be subject to state and local taxes as well as the alternative
minimum tax.
Please note that the distributions paid by the fund to shareholders are
subject to recharacterization for tax purposes. The final tax treatment of
these distributions is reported to shareholders on their 1099-DIV forms, which
are mailed to shareholders after the close of the calendar year. In addition,
the fund may pay distributions in excess of the fund's net investment company
taxable income and this excess will be a non-taxable return of capital
distributed from the fund's assets. Distributions of capital decrease the
fund's total assets and, therefore, could have the effect of increasing the
fund's expense ratio. In addition, in order to make these distributions, the
fund may have to sell portfolio securities during unfavorable market
conditions. Information concerning the estimated composition of each fund
distribution is available at cohenandsteers.com.
SOURCE Cohen & Steers Realty Income Fund, Inc.

Francis C. Poli, executive vice president and general counsel, Cohen & Steers
Capital Management, Inc., +1-212-446-9112