Crescent Real Estate Announces Date of Fourth Quarter Earnings Release and Conference Call.

Business Editors

FORT WORTH, Texas--(BUSINESS WIRE)--Feb. 7, 2002

Crescent Real Estate Equities Company (NYSE:CEI) announced today that the Company will release its fourth quarter 2001 earnings results before the market opens on Thursday, February 21, 2002. The Company will also host a conference call and audio webcast, both open to the general public, at 10:00 A.M. Central Time on Thursday, February 21, 2002, to discuss the fourth quarter results and provide a Company update.

To participate in the conference call, please dial [phone] domestically or [phone] internationally, or you may access the audio webcast on the Company's website (www.cei-crescent.com) in the Investor Relations section. During the call, reference will be made to a presentation that will also be posted on the Company's website.

A replay of the conference call will be available through February 27, 2002 by dialing [phone] domestically or [phone] internationally with a passcode of 2836937. The webcast and presentation will be available on Crescent's website for 30 days.

ABOUT THE COMPANY

Crescent Real Estate Equities Company (NYSE:CEI) is one of the largest publicly held real estate investment trusts in the nation and, through its subsidiaries, owns and manages some of the country's most desirable properties. Its portfolio consists primarily of 75 office buildings totaling over 28 million square feet located in six states and 26 sub-markets primarily in the southwestern U.S., as well as world-renowned luxury resorts and spas and upscale residential developments.