Trammell Crow Company Receives American Business Ethics Award; Honored by Society of Financial Service Professionals in Large Company Class.

DALLAS -- Trammell Crow Company (NYSE:TCC) has been named the 2004 recipient of the American Business Ethics Award (ABEA) by the Society of Financial Services Professionals in the Large Company (over 2,500 employees) category. The award recognizes U.S. companies that exemplify high standards of ethical behavior in their everyday business conduct and in response to specific crises or challenges.

A panel drawn from business, academia, public service, media, consulting and ethics sectors selected this year's recipients, who were honored recently at the Society's annual Financial Service Forum, in Tampa, Fla.

In presenting the award, the Society detailed how Trammell Crow Company has continued to embrace the ethical compass that its founder, Mr. Trammell Crow, set 56 years ago when he summed up his business philosophy in three words: TO DO GOOD. "Guided by a detailed code of ethics, Trammell Crow Company employees have made Mr. Crow's vision a reality by balancing the interests of its clients, the community and the environment on every project they undertake," said Society of Financial Services Professionals President Richard A. Bell, CLU, ChFC, CFP(R). "In light of the revelations of corporate malfeasance in recent years, it is important to celebrate the many American companies that conduct business honestly and fairly."

"It is gratifying to be recognized nationally for our strong commitment to business ethics," said Robert E, Sulentic, Chairman and CEO of Trammell Crow Company. "The American Business Ethics Award is confirmation that our company is dedicated to serving all its constituents in an honest and professional manner."

Earlier this year, TCC's North Florida regional office was awarded the Greater Orlando Business Ethics Award (GOBEA) bestowed by the Society's regional chapter, thereby allowing it to be considered for the national honor. Previous winners in the Large Company class have included such well known names as Hewlett-Packard Company, Pitney Bowes, Inc., and Starbucks Coffee Company.

About Trammell Crow Company:

Founded in 1948, Trammell Crow Company is one of the largest diversified commercial real estate services companies in the United States. Through its Global Services Group, the company provides building management, brokerage and project management services to both investors in and users of commercial real estate. Development and investment services are provided through the company's Development & Investment Group. In addition to its full service offices located throughout the United States, the company has offices in Canada, Europe, Asia and Latin/South America focused on the delivery of real estate services to corporate customers. The company delivers brokerage services outside the United States through strategic alliances with leading providers -- in Europe and Asia, through Savills, plc, a leading property services company based in the U.K.; and in Canada, through JJ Barnicke, a leading Canadian real estate services provider. Trammell Crow Company is traded on the New York Stock Exchange under the ticker symbol "TCC" and is located on the Internet at www.trammellcrow.com.

About The Society of Financial Service Professionals:

The Society of Financial Service Professionals, which was founded in 1928, is the standard-bearer of excellence in professionalism, advanced continuing education, and ethical guidance for the top financial advisers in the nation. Each of the approximately 22,000 members of the Society of Financial Service Professionals holds one or more of the following recognized financial service credentials: CLU, ChFC, CFP(R), CPA, JD (licensed), RHU, REBC, CLF, CEBS(R), CFA, CTFA and two master's degrees granted by The American College, Bryn Mawr, Pa. -- MSFS and MSM. Active in nearly 200 Chapters nationwide, Society members help individuals, families and businesses to achieve their financial goals. For more information on the ABEA program, visit the Society online at www.financialpro.org and click on "American Business Ethics Awards."