Crescent Real Estate Equities Announces Earnings Release and Conference Call Dates.

FORT WORTH, Texas--(BUSINESS WIRE)--Oct. 27, 1999--

Crescent Real Estate Equities (NYSE:CEI) has finalized the date and time for its 1999 third-quarter earnings conference call.

As a result of scheduling conflicts, the call, which was tentatively scheduled for November 4, 1999, will now be held on Wednesday, November 10, 1999, at 10:00 a.m., Central Standard Time. To access the call, please dial 800/642-1384 (no pass code needed). A replay will be available on our Web site, www.cei-crescent.com, approximately two hours following the end of the call.

Crescent, one of the country's largest real estate investment trusts, owns and manages a diversified portfolio consisting of Class A office and retail properties, hotels and destination fitness resorts, residential land developments, temperature controlled logistic (refrigerated storage) properties and behavioral healthcare facilities. Our mission is to maximize value to our shareholders by: i) distinguishing ourselves as the undisputed leader in each of our businesses through customer service and asset quality; and ii) executing a disciplined real estate investment and operating strategy that focuses on market leadership, innovative growth opportunities, and outstanding employee and partner alliances.

For further information, please contact Walt F. Czaicki, Vice President, Investor Relations, Crescent Real Estate Equities Company at 817/321-2180. Crescent is also online at www.cei-crescent.com.