Cohen & Steers Quality Income Realty Fund, Inc. 757 Third Avenue New York, New York 10017 February ___, 2002 Cohen & Steers Capital Management, Inc. 757 Third Avenue New York, New York 10017 Dear Sirs: Cohen & Steers Quality Income Realty Fund, Inc....

                 ▇▇▇▇▇ & Steers Quality Income Realty Fund, Inc.
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                                                     February ___, 2002

▇▇▇▇▇ & Steers Capital Management, Inc.
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Dear Sirs:

         ▇▇▇▇▇ & Steers Quality Income Realty Fund, Inc. (the "Fund") hereby
accepts your offer to purchase 7,000 shares at a price of $.001 per share for an
aggregate purchase price of $100,275. This agreement is subject to the
understanding that you have no present intention of selling or redeeming the
shares so acquired.


                                                  Sincerely,

                                                  ▇▇▇▇▇ & Steers Quality Income
                                                  Realty Fund, Inc.



                                                   By:
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Accepted:

▇▇▇▇▇ & Steers Capital Management, Inc.



By:
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