Crescent Announces Building Closures in Preparation for Hurricane Rita

Business Wire, Sept 22, 2005

FORT WORTH, Texas -- Crescent Real Estate Equities Company (NYSE:CEI) announced that after several days of storm preparation in an effort to help safeguard employees, customers and assets, Crescent's Houston office portfolio will be closed for the duration of the storm beginning Friday, September 23. Essential Crescent personnel will remain at each property with sufficient supplies, equipment and provisions. Building customers have been notified of the closures and will be notified when properties are reopened. Crescent's Houston office portfolio includes Greenway Plaza, Houston Center, Fulbright Tower, Three and Four WestLake Park, Post Oak Central, Five Post Oak Park, and One BriarLake Plaza.

For timely updates on the status of our Houston office portfolio, visit the Company's website at www.crescent.com.

ABOUT THE COMPANY

Crescent Real Estate Equities Company (NYSE:CEI) is a real estate investment trust headquartered in Fort Worth, Texas. Through its subsidiaries and joint ventures, Crescent owns and manages a portfolio of more than 75 premier office buildings totaling more than 30 million square feet located in select markets across the United States, with major concentrations in Dallas; Houston; Austin, Texas; Denver; Miami and Las Vegas. Crescent also makes strategic investments in resort residential development, as well as destination resorts, including Canyon Ranch(R). For more information, visit the Company's website at www.crescent.com.