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TRAMMELL CROW REAL ESTATE INVESTORS MAKES STATEMENT

 DALLAS, April 13 /PRNewswire/ -- Trammell Crow Real Estate Investors (NYSE: TCR) (the "Trust") today made the following statement:
 As referenced in the Trust's proxy statement dated March 31, 1993, the Trust managers have decided to proceed with internalizing management of the Trust. The Trust managers have engaged Charles Wolcott, the former vice-president and chief financial and operating officer of the Trust, to assist the Trust managers in accomplishing this goal. As a result, the advisory agreement between the Trust and Trammell Crow Ventures, Ltd., (the "Advisor") will be terminated following the requisite notice period provided for in the advisory agreement.
 Philip W. Norwood, an affiliate of the Advisor, a current Trust manager and a Trust manager nominee, has advised that, in light of the termination of the advisory agreement, he will resign as a Trust manager, effective immediately, and will not stand for re-election as Trust manager at the annual meeting of shareholders currently scheduled for May 4, 1993. Therefore, the annual meeting of shareholders will be postponed until new proxy material can be prepared, submitted to and approved by the Securities and Exchange Commission, and distributed to the shareholders. In addition to electing Trust managers and ratifying the appointment of independent auditors for the Trust, the meeting will (i) seek shareholder approval for amendment of the declaration of Trust to change the name of the Trust (which name change will be required upon termination of the advisory agreement), (ii) seek shareholder approval for making the life of the Trust perpetual, and (iii) seek shareholder approval of such other matters as the Trust managers may determine.
 -0- 4/13/93
 /CONTACT: Charles Wolcott of Trammell Crow Real Estate Investors, 214-969-1966/
 (TCR)


CO: Trammell Crow Real Estate Investors ST: Texas IN: SU:

TM -- NY084 -- 5406 04/13/93 17:08 EDT
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Publication:PR Newswire
Date:Apr 13, 1993
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