Cohen & Steers' Chameleon Fund
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Friday, September 14, 2007

Cohen & Steers' Chameleon Fund

The Cohen & Steers Realty Focus Fund has changed its investment mandate and will be changing its name as well, according to a letter sent to shareholders. Effective September 28th, the fund will be known as the Cohen & Steers Global Realty Shares.

The fund's new global investment mandate will allow it to invest 80 percent of it's net assets in stocks and other securities issues by U.S. and non-U.S. real estate companies. The letter says the mandate was changed in order to take advantage of opportunities in the global REIT market.

If shareholders are not happy with the new arrangement, Cohen & Steers is offering them a chance to exchange into another Cohen & Steers fund, or redeem entirely, without incurring any applicable contingent deferred sales charges or redemption fees ordinarily charged by the Fund, if done by September 27th.

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