Cohen & Steers REIT and Utility Income Fund, Inc. 757 Third Avenue New York, New York 10017 January __, 2004 Cohen & Steers Capital Management, Inc. 757 Third Avenue New York, New York 10017 Dear Sirs: Cohen & Steers REIT and Utility Income Fund, Inc....

                Xxxxx & Steers REIT and Utility Income Fund, Inc.
                                000 Xxxxx Xxxxxx
                            Xxx Xxxx, Xxx Xxxx 00000


                                                         January __, 2004

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


Dear Sirs:

         Xxxxx & Steers REIT and Utility Income Fund, Inc. (the "Fund") hereby
accepts your offer to purchase 5,250 shares at a price of $19.100 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 REIT and Utility
                                               Income Fund, Inc.



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


Accepted:

Xxxxx & Steers Capital Management, Inc.



By:
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