News Release

For Immediate Release:

Red Star Restaurant At Houston Center Changes Name

HOUSTON, TEXAS, November 13, 2003 - Crescent Real Estate Equities Company (NYSE: CEI) announced that Red Star, the classic American restaurant with upscale comfort food from Chicago, based Restaurant Development Group (RDG), has changed its name to Twisted Fork. RDG signed with Crescent on July 16, 2003 at Houston Center, the 3.3 million square-foot, premier mixed-use development on the east side of downtown Houston.

The "Red Star" name was previously registered by an unaffiliated entertainment venue in Houston.

FOR MORE INFORMATION
Keira Moody
Vice President, Investor Relations and Corporate Communications
Crescent Real Estate Equities Company
817.321.1412

Fact Sheet

Contact: Liza Lathouris, RDG Chicago
847.510.2500
liza@rdgchicago.com

Opening: January 28, 2004

Address: The Shops at Houston Center
Corner of San Jacinto & Lamar
Houston, TX 77010

Telephone: 713.650.9400

Web Site: www.rdgchicago.com

Owners: Roger Greenfield and Ted Kasemir of RDGChicago

Hours: Open daily for lunch and dinner from 11 a.m. to 2 a.m.

Concept: This hip American tavern showcases upscale comfort food with a "twist." An interesting drink list includes specialty cocktails, microbrews and a wine list with many choices by the glass. Clubby surroundings have an intimate feel, with design elements that include curved leather booths, wood-paneled walls, flagstone detail, custom lighting, eclectic artwork and five plasma televisions. Twisted Fork Kitchen & Bar is an ideal destination for lunch, dinner or late night dining with friends, family or co-workers.

Amenities: Handicapped accessible, indoor patio, private dining room, late night dining

Square Ft.: 7000

Seating: Bar - 100, Dining Room - 200, Private Dining Room - 70, Indoor Patio - 80

Prices: Lunch/Dinner $6.95 - $21.95

Credit Cards: VISA, Mastercard, AMEX, Diners Club, Optima, Discover

Reservations: Not accepted