Cohen & Steers, Inc.

280 Park Avenue

New York, NY 10017-1216

Tel: (212) 832-3232

Contact:

Todd Glickson

Senior Vice President

Director of Global Marketing & Product Solutions

Cohen & Steers, Inc. Tel: (212) 832-3232

FOR IMMEDIATE RELEASE

Cohen & Steers Quality Income Realty Fund, Inc. (RQI) Declares September 2015 Quarterly Distribution

NEW YORK, NY, September 9, 2015-The Board of Directors of Cohen & Steers Quality Income Realty Fund, Inc. (NYSE: RQI) (the "Fund") declared its September 2015 distribution as summarized in the chart below:

Amount of

Distribution

Ex-Dividend

Date

Record

Date

Payable

Date

$0.2400

September 18, 2015

September 22, 2015

September 30, 2015



In December 2012, the Fund implemented a managed distribution policy in accordance with exemptive relief issued by the Securities and Exchange Commission. The managed distribution policy seeks to deliver the Fund's long-term total return potential through regular quarterly distributions declared at a fixed rate per common share. The policy gives the Fund greater flexibility to realize long-term capital gains throughout the year and to distribute those gains on a regular quarterly basis to shareholders. The Board of Directors of the Fund may amend,
terminate or suspend the managed distribution policy at any time, which could have an adverse
effect on the market price of the Fund's shares.
The Fund's quarterly distributions may include long-term capital gains, short-term capital gains, net investment income and/or return of capital for federal income tax purposes. Return of capital includes distributions paid by the Fund in excess of its net investment income and net realized capital gains and such excess is distributed from the Fund's assets. A return of capital is not taxable; rather, it reduces a shareholder's tax basis in his or her shares of the Fund. In addition, distributions from the Fund's investments in real estate investment trusts (REITs) may later be characterized as capital gains and/or a return of capital, depending on the character of the dividends reported to the Fund after year end by REITs held by the Fund. The amount of quarterly distributions may vary depending on a number of factors, including changes in portfolio and market conditions.
At the time of each quarterly distribution, information will be posted to cohenandsteers.com and mailed to shareholders in a concurrent notice. However, this information may change at the end

of the year because the final tax characteristics of the Fund's distributions cannot be determined with certainty until after the end of the calendar year. Final tax characteristics of all of the Fund's distributions will be provided on Form 1099-DIV, which is mailed after the close of the calendar year.

The following table sets forth the estimated amounts of the current distribution and the cumulative distributions paid this fiscal year to date from the sources indicated. All amounts are expressed per common share.

YEAR-TO-DATE (YTD) DISTRIBUTION ESTIMATES September 2015 September 30, 2015*

Source

Per Share

Amount

% of Current

Distribution

Per Share

Amount

% of 2015

Distributions

Net Investment Income

$0.1824

76.00%

$0.1824

25.33%

Net Realized Short-Term Capital Gains

$0.0000

0.00%

$0.0000

0.00%

Net Realized Long-Term Capital Gains

$0.0576

24.00%

$0.5376

74.67%

Return of Capital (or other Capital Source)

$0.0000

0.00%

$0.0000

0.00%

Total Current Distribution

$0.2400

100.00%

$0.7200

100.00%

You should not draw any conclusions about the Fund's investment performance from the amount of this distribution or from the terms of the Fund's managed distribution policy. The amounts and sources of distributions reported in this Notice are only estimates, are likely to change over time, and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for accounting and tax reporting purposes will depend upon the Fund's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The amounts and sources of distributions year-to-date may be subject to additional adjustments. *THE FUND WILL SEND YOU A FORM 1099-DIV FOR THE CALENDAR YEAR THAT WILL TELL YOU HOW TO REPORT THESE DISTRIBUTIONS FOR FEDERAL INCOME TAX PURPOSES.

The Fund's Year-to-date Cumulative Total Return for fiscal year 2015 (January 1, 2015 through August 31, 2015) is set forth below. Shareholders should take note of the relationship between the Year-to-date Cumulative Total Return with the Fund's Cumulative Distribution Rate for
2015. Moreover, the Fund's Average Annual Total Return for the five-year period ending August 31, 2015 is set forth below. Shareholders should also note the relationship between the Average Annual Total Return with the Fund's Current Annualized Distribution Rate for 2015. In addition, the performance and distribution rate information disclosed in the table below is based on the Fund's net asset value per share (NAV). The Fund's NAV is calculated as the total market value of all the securities and other assets held by the Fund minus the total liabilities, divided by the total number of shares outstanding. While NAV performance may be indicative of the Fund's investment performance, it does not measure the value of a shareholder's individual investment
in the Fund. The value of a shareholder's investment in the Fund is determined by the Fund's market price, which is based on the supply and demand for the Fund's shares in the open market.

Fund Performance and Distribution Rate Information:

Year-to-date January 1, 2015 to August 31, 2015

Year-to-date Cumulative Total Return1 −4.98%

Cumulative Distribution Rate2 5.83%

Five-year period ending August 31, 2015

Average Annual Total Return3 15.66%

Current Annualized Distribution Rate4 7.77%

1.

Year-to-date Cumulative Total Return is the percentage change in the Fund's NAV over the year-to-date time period including distributions paid and assuming reinvestment of those distributions.

2.

Cumulative Distribution Rate for the Fund's current fiscal period (January 1, 2015 through

August 31, 2015) measured on the dollar value of distributions in the year-to-date period as a percentage

of the Fund's NAV as of August 31, 2015.

3.

Average Annual Total Return represents the compound average of the Annual NAV Total Returns of the Fund for the five year period ending August 31, 2015. Annual NAV Total Return is the percentage change in the Fund's NAV over a year including distributions paid and assuming reinvestment of those distributions.

4.

The Current Annualized Distribution Rate is the current fiscal period's distribution rate annualized as a percentage of the Fund's NAV as of August 31, 2015.

Shareholders should not use the information provided in preparing their tax returns. Shareholders will receive a Form 1099-DIV for the calendar year indicating how to report Fund distributions for federal income tax purposes.

More information is available at cohenandsteers.com. SOURCE: Cohen & Steers, Inc.

CONTACT: Todd Glickson, Senior Vice President, Director of

Global Marketing & Product Solutions

+1-212-832-3232

//Website: http://cohenandsteers.com/ Symbol: NYSE: CNS

About Cohen & Steers. Cohen & Steers is a global investment manager specializing in liquid real assets, including real estate securities, listed infrastructure, commodities and natural resource equities, as well as preferred securities and other income solutions. Founded in 1986, the firm is headquartered in New York City, with offices in London, Hong Kong, Tokyo and Seattle.

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