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....

                 Xxxxx & Steers Quality Income Realty Fund, Inc.
                                000 Xxxxx Xxxxxx
                            Xxx Xxxx, Xxx Xxxx 00000


                                                     February ___, 2002

Xxxxx & Steers Capital Management, Inc.
000 Xxxxx Xxxxxx
Xxx Xxxx, Xxx Xxxx 00000

Dear Sirs:

         Xxxxx & 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,

                                                  Xxxxx & Steers Quality Income
                                                  Realty Fund, Inc.



                                                   By:
                                                       -------------------------


Accepted:

Xxxxx & Steers Capital Management, Inc.



By:
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