Industry Awards

Crescent Recognized For Excellence In Customer Service

FORT WORTH, TX, March 20, 2002 - Crescent Real Estate Equities Company (NYSE: CEI), one of the country's largest real estate investment trusts, has been named a winner of the National Commercial Real Estate Customer Service Award for Excellence for office properties. The award, based on survey results from hundreds of thousands of customers in nearly 7,000 properties nationwide, recognizes those companies whose management performance and commitment to providing the highest level and quality of service achieve the highest levels of customer satisfaction. The honor is awarded annually by Building Owners & Managers Association (BOMA) and CEL & Associates, the largest surveyor of customer satisfaction in the real estate industry.

Denny Alberts, Crescent's president and chief operating officer, said, "Our customers' response to the survey signifies Crescent's number one priority - providing exceptional service at each property, every day. We continually look for ways to add value to our customer's daily business experience. Being named one of the nation's top five real estate companies for customer service is a result of tremendous dedication and attentiveness by our people. I am very proud of them and our customers' recognition."

Crescent Real Estate Equities Company, through its subsidiaries, owns and manages some of the highest quality properties in the country. Its portfolio consists primarily of 73 office buildings totaling 28 million square feet located in six states, as well as world-renowned luxury resorts and spas and upscale residential developments. Crescent strives to expand the dimensions of business by providing exceptional customer service through disciplined real estate investment and operating strategies.

FOR MORE INFORMATION
Sandra Porter
Director of Public Relations
(817) 321-1460