Crescent Resources Names New Regional Vice President for Tennessee

Robert Zeiller to Lead Team in Significant Regional Market
CHARLOTTE, N.C.--(Business Wire)--
Crescent Resources, LLC today announced that it has named Robert Zeiller as
regional vice president for the Tennessee region for the company`s commercial
division. In this role, Zeiller will be responsible for daily operations and
leadership of the Crescent Team and community stewardship and outreach. Zeiller
replaces Patrick Emery, who has retired from Crescent Resources to pursue other
endeavors.

"We are excited and pleased to have someone with Bobby`s experience lead our
team in the commercial business unit in Tennessee," said Art Fields, president
and chief executive officer of Crescent Resources. "Bobby has the experience and
skills to continue to serve and build on our strong foundation in the region and
continue Crescent`s long tradition of success in Tennessee. Crescent is the
leading commercial developer in the Nashville market, and we remain committed to
this important market for the long term."

"The opportunities for Crescent in Tennessee and Nashville are tremendous," said
Zeiller. "I am looking forward to working with the strong team already on the
ground in Tennessee to continue identifying, developing and managing first-class
commercial properties in a market with attractive long-term fundamentals."

Previously, Zeiller was the regional vice president of the mid-Atlantic region
for Crescent`s commercial division located in Washington and has served in a
number of management roles in Crescent`s Charlotte office.

Zeiller led the development of Crescent`s notable urban mixed-use development
Potomac Yard, a 300-acre development near downtown Washington that included the
650,000-square-foot, LEED-GOLD office complex in Arlington, Va., occupied by the
U.S. Environmental Protection Agency. Zeiller was also responsible for
Commonwealth Centre, a commercial office park in suburban Virginia, and the
Armed Forces Retirement Home, an urban mixed-use development in Washington.

Before joining Crescent in 2000, Zeiller was a senior project manager for R.J.
Griffin and Company in Charlotte, where he was responsible for numerous
commercial and multifamily projects throughout the Southeast. Zeiller graduated
from Virginia Tech with a bachelor`s degree in building and construction.
Zeiller has held leadership positions in various industry and community
organizations.

About Crescent Resources, LLC

Crescent Resources is a land management and real estate development company with
interests in 10 states in the southeastern, mid-Atlantic and southwestern United
States. Based in Charlotte, Crescent Resources is a joint venture between Duke
Energy and Morgan Stanley Real Estate Fund. Established in 1969, Crescent
creates mixed-use developments, award-winning country club communities,
single-family neighborhoods, apartment and condominium communities, Class A
office space, business and industrial parks and shopping centers. Visit
www.crescent-resources.com for more information.

For Crescent Resources, LLC
Kathryn Blanchard, 704-376-3434
kblanchard@crown-com.com

Copyright Business Wire 2009