UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 14A

Proxy Statement Pursuant to Section 14(a) of the Securities
Exchange Act of 1934 (Amendment No.  )

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CRESCENT REAL ESTATE EQUITIES COMPANY

(Name of Registrant as Specified In Its Charter)

 

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ISS AND GLASS LEWIS EACH RECOMMEND CRESCENT SHAREHOLDERS VOTE “FOR” PROPOSED $22.80 CASH
MERGER WITH MORGAN STANLEY REAL ESTATE

FORT WORTH, TEXAS, July 23, 2007—Crescent Real Estate Equities Company (NYSE: CEI) today announced that Institutional Shareholder Services (ISS) and Glass, Lewis & Co. (Glass Lewis), two leading independent proxy advisory firms, have recommended that the holders of common shares of CEI vote “FOR” the proposed acquisition by Morgan Stanley Real Estate. The special meeting of the shareholders of Crescent Real Estate Equities Company will take place at the Hotel Crescent Court, 400 Crescent Court, Dallas, Texas on August 1, 2007 at 10:00 a.m., Central Daylight Saving Time.

“We are pleased to have the support of ISS and Glass Lewis for this transaction,” commented John C. Goff, Crescent’s vice-chairman and chief executive officer. “We believe that the $22.80 per share cash merger, which was carefully considered and approved by Crescent’s Board of Trust Managers, is a good transaction for our shareholders.”

Shareholders who have questions or require assistance in voting their shares should contact our proxy solicitor, MacKenzie Partners, at 1-800-322-2885 or www.proxy@mackenziepartners.com

ABOUT CRESCENT

Crescent Real Estate Equities Company (NYSE: CEI) is a real estate investment trust headquartered in Fort Worth, Texas. Through its subsidiaries and joint ventures, Crescent owns and manages a portfolio of 63 premier office buildings totaling 26 million square feet located in select markets across the United States with major concentrations in Dallas, Houston, Denver, Miami, and Las Vegas. Crescent also holds investments in resort residential developments in locations such as Scottsdale, AZ, Vail Valley, CO, and Lake Tahoe, CA; and in the wellness lifestyle leader, Canyon Ranch^®. For more information, visit Crescent’s Web site at www.crescent.com.

FORWARD-LOOKING STATEMENTS

This press release may include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that the partnership expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company, which may cause the Company’s actual results to differ materially from those implied or expressed by the forward-looking statements. Crescent assumes no duty whatsoever to update these forward-looking statements or to conform them to future events or developments.

FOR MORE INFORMATION

Jane E. Mody, Managing Director and Chief Financial Officer, Crescent (817) 321-1086
Jeremy C. Sweek, Investor & Media Relations Senior Manager, Crescent (817) 321-1464
Alyson D’Ambrisi, Media Relations, Morgan Stanley (212) 762-7006