Amtech Elevator Services Awarded Major Contract Renewal With Greenway Plaza in Texas.

Business Editors

LOS ANGELES--(BUSINESS WIRE)--Jan. 4, 2001

Amtech Elevator Services, a wholly-owned subsidiary of ABM Industries Incorporated (NYSE:ABM), has signed a multi-year, multi-million dollar contract renewal to provide elevator maintenance and repair services for Greenway Plaza in Houston, Texas. Owned and managed by subsidiaries of Crescent Real Estate Equities Company (NYSE:CEI), Greenway Plaza's contract covers maintenance for over 100 elevators and escalators, and a modernization program that includes new microprocessor controls and Internet access screens in the elevator cabs.

"We are pleased to be of service to one of the most prestigious properties in Houston," said Eric Lazear, president of Amtech Elevator Services. "Our on-site maintenance service teams will ensure that Greenway Plaza's vertical transportation system incorporates state-of-the-art technology and continues to operate efficiently and reliably for the convenience of all tenants and visitors," he added.

Greenway Plaza is located on a 65-acre master-planned development, which encompasses approximately 4.3 million square feet in a 10-building complex, including the Compaq Center, where the NBA's Houston Rockets play their home games. In addition to Landmark Theaters, the Houston City Club, Maxim's Restaurant and the Renaissance Houston Hotel, Greenway Plaza also includes The Shops at Greenway retail mall and food court.

"Crescent's policy is to do business with companies who place the same high priority on customer service that we do," said Jane Page, Senior Vice President, Asset Management & Leasing for Crescent's Houston Region. "Amtech has been maintaining the elevators and escalators at Greenway since 1973 and has a proven track record and quick response time. Their expertise and knowledge of Greenway's elevator systems will be of great benefit in our elevator modernization process. It was an easy decision for Crescent to continue our contract with this reputable company," she added.

Crescent Real Estate Equities Company, one of the country's largest real estate investment trusts, owns and manages, through its subsidiaries, a diversified portfolio consisting of Class A office properties, luxury resorts and spas, and residential developments. Its mission is to expand the dimensions of business for its customers and maximize value to its shareholders by distinguishing itself as the undisputed leader in each of its businesses. Crescent will accomplish these goals by providing exceptional customer service and asset quality and by executing a disciplined real estate investment and operating strategy that focuses on market leadership, innovative growth opportunities, and outstanding customer, employee and partner alliances.

Amtech Elevator Services is the largest independent elevator service company in the United States. Amtech operates regional offices and warehouses across the country from headquarters in Los Angeles, and serves major metropolitan areas such as Atlanta, Chicago, Cincinnati, Denver, Detroit, Houston, Las Vegas, Philadelphia, Phoenix, San Diego, San Francisco and Washington, DC.

ABM Industries Incorporated is the largest facility services contractor listed on the New York Stock Exchange. With annualized revenues in excess of $1.8 billion and more than 57,000 employees, ABM provides air conditioning, elevator, engineering, janitorial, lighting, parking and security services for thousands of commercial, industrial and institutional facilities in hundreds of cities across North America. In addition to Amtech Elevator, the ABM Family of Services includes American Building Maintenance, Ampco System Parking, American Commercial Security (ACSS), Amtech Lighting, ABM Engineering, ABM Janitorial, CommAir Mechanical and Easterday Janitorial Supply.