Industry Awards

2003
Crescent Recognized for Excellence in Customer Service for Third Consecutive Year

FORT WORTH, Texas (BUSINESS WIRE) - Feb. 18, 2004 - Crescent Real Estate Equities Company (NYSE:CEI), one of the country's largest real estate investment trusts, has been awarded for the third consecutive year the National Commercial Real Estate Customer Service Award for Excellence for office properties on the company level by Building Owners & Managers Association (BOMA) and CEL & Associates, the largest surveyor of customer satisfaction in the real estate industry. In addition, 56, out of the 65 surveyed, office properties owned by Crescent's various subsidiaries have been named to the 2003 "A List," the National Commercial Real Estate Customer Service Award for Excellence at the property level.

The awards recognize those companies whose management performance and commitment to providing the highest level and quality of service achieve the highest levels of customer satisfaction. In 2001, 2002 and 2003, customers of Crescent properties ranked the company's customer service and management in the highest percentile of the commercial real estate industry in the U. S.

"Being named one of the nation's top real estate companies for customer service is a result of tremendous dedication and attentiveness by our team members, and we are honored to have been chosen for the third year in a row," said Denny Alberts, Crescent's president and chief operating officer. "Our customers' responses to the survey signify Crescent's number one priority -- providing an exceptional workplace environment at each property, every day."

About the Company

Crescent Real Estate Equities Company is one of the largest publicly held real estate investment trusts in the nation. Through its subsidiaries and partners, Crescent owns and manages a portfolio of more than 75 premier office buildings totaling more than 30 million square feet primarily located in the Southwestern United States, with major concentrations in Dallas, Houston, Austin and Denver. In addition, the company has investments in world-class resorts and spas and upscale residential developments.