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5/23/2001
Crescent Donates Landmark Conservation Easements in North and South
Crescent Resources, LLC

CHARLOTTE, N.C., May 23 /PRNewswire/ -- As part of its pledge to protect
close to 200 miles of river and streambanks in North and South Carolina,
Crescent Resources, LLC announced today the donation of two landmark
conservation easements. One easement will be on the Catawba River and the
other on a perennial stream channel flowing into Lake Wylie.

Crescent is designating areas in both states to convey to local land
trusts for permanent stewardship. Catawba Lands Conservancy is receiving
approximately 150 acres of conservation easement on Crescent property along
Catawba Creek near Daniel Stowe Botanical Garden in Gaston County, N.C. The
easement includes a habitat hospitable for ducks and migratory birds.

Katawba Valley Land Trust will receive an approximately 170-acre
easement on property along the Catawba River adjacent to Landsford Canal State Park
in Chester County, S.C. This area was the home of Revolutionary War General
and University of North Carolina founder William R. Davie. The canal dates to
the early 1800s; its remains are a centerpiece of the state park's history and
interpretation programs. Also of great interest to visitors are the acres
of Rocky Shoals spider lilies, said to be the largest known colony in the world
of this rare wildflower.

"There is no doubt these two areas hold great environmental and
historical significance," said Jim Short, Crescent Resources senior vice president,
land management. "Our efforts to preserve the streambanks with easements will
not only preserve these vital waterways, but also help ensure water quality of
the river and its lakes for the future."

"This is an exciting day for Gaston County and the entire Piedmont
region," said Catawba Lands Conservancy Executive Director Ron Altman.
"Crescent Resources is donating a permanent conservation easement on
beautiful property that will provide ideal habitat for wildlife as well as protect
water quality and open space for all of us to enjoy. Crescent's commitment to
protecting our streams, coupled with Catawba Lands Conservancy's commitment
to preserving our natural heritage, makes a tremendous partnership for our
region."

D. Lindsay Pettus, president of Katawba Valley Land Trust said, "We
appreciate the confidence Crescent has demonstrated in us through this
donation. The development of buffers and the protection and enhancement of
the outstanding resources of the Landsford Shoals area are leading
priorities in our implementation of The South Carolina Catawba River Corridor Study.
We hope to continue to partner with Crescent in our efforts to protect the
natural resources and water quality of the Catawba River valley."

Crescent's initiative to establish conservation easements along
perennial stream channels and Catawba River frontage it owns began in 2000. The
properties are located in 14 counties throughout North and South Carolina,
including Alexander, Burke, Caldwell, Catawba, Gaston, Iredell, Lincoln,
McDowell and Mecklenburg in North Carolina; and Chester, Fairfield, Kershaw,
Lancaster and York in South Carolina. Experts recommend establishing
buffers on streams flowing into the river as the best way to enhance overall water
quality for the river and its lakes.

"Conservation efforts by private corporations and local land trusts are
an essential part of reaching North Carolina's long-term land preservation and
water quality protection goals," Gov. Mike Easley said. "This partnership
between Crescent Resources and the Catawba Lands Conservancy is a great
example of the public-private partnerships we must foster so that our most
important natural resources and water quality are protected for generations
to come."

S.C. Gov. Jim Hodges said, "All of our citizens, homeowners and
industries will benefit from Crescent's conservation easements. This program
represents bold leadership in the area of natural resources conservation. I would like
to thank Crescent Resources for their leadership in making this donation.
It significantly enhances the quality of life in upper South Carolina."

Crescent's conservation easement initiative was recognized earlier this
year with the Industrial Conservationist of the Year award from the South
Carolina Wildlife Federation. It was also part of Duke Energy's nomination
for the National Conservation Achievement award, which the company received
from the National Wildlife Federation in April.

In addition to the initiative on its own property, Crescent is
committing a half million dollars to reimburse other landowners who establish
conservation easements along perennial stream channels on their property in
the Catawba River basin. It is estimated this amount will fund surveys and
related costs for another 100 miles of river frontage and stream easements.
Crescent is partnering with Carolinas Land Conservation Network of the UNC
Charlotte Urban Institute and Clemson University Strom Thurmond Institute of
Government and Public Affairs to administer the grant program and place its
easements.


Crescent and partners share common goal

"Crescent has found ideal partners in both Katawba Valley Land Trust and
Catawba Lands Conservancy," said Carla DuPuy, director of environmental
affairs for Crescent Resources. "These organizations share our goal to
preserve the river by capturing impurities on the streams long before they
reach the lakes and the river."

Founded in 1991, Catawba Lands Conservancy is dedicated to preserving
land, water and wildlife resources of the Lower Catawba River Basin in North
Carolina. Its goal is to create opportunities for education and research
that heighten awareness and interest in land preservation and conservation. The
Conservancy works with private landowners, public agencies, developers and
other groups with common goals to place land into permanent conservation.
Since its inception, the Conservancy has preserved more than 3,000 acres of
land in a six-county region around Charlotte and is currently working to
protect more than 1,500 additional acres of significant natural habitat.

Katawba Valley Land Trust is a nonprofit, private conservation
organization dedicated to the protection of natural resources, open lands,
waters, historic resources and vistas of aesthetic value in the Catawba
River Valley and surrounding areas in South Carolina. The Trust acquires interest
in property having significant natural value and promotes the importance of
creating open land spaces through public education.

Currently, Katawba Valley Land Trust is working to raise funds to
acquire a 1,049-acre tract from Crescent for further expansion of Landsford Canal
State Park. The acquisition would allow for the extension of existing
programs and implementation of new programs -- giving it regional park
designation. Some of the programs include facilities for bank/pier fishing,
hiking and biking trails, wildlife observation areas and permanent
protection of watersheds crossing the canal. Katawba Valley hopes to raise $2.3
million in private and/or public funds by the end of the year to purchase the tract.


Crescent has history of environmental stewardship

"Crescent firmly believes in a balance between long-term preservation
and land developed in an environmentally sensitive manner," said Bob Lilien,
Crescent chairman and CEO. The company has long been recognized as a leader
and catalyst in promoting effective management of the Catawba River basin.
The company has a history of not only adhering to environmental guidelines,
but also routinely exceeding the standards established by governmental
agencies. Crescent presently imposes voluntary buffers for the property it
develops adjacent to the lakes along the Catawba River.

Crescent Resources, LLC is a land management and real estate development
company. Formed more than 30 years ago by Duke Energy, the company has land
interests in eight states in the Southeast and southwestern United States.
Crescent creates award-winning country club communities, neighborhoods,
apartment and condominium communities, Class A office space, business and
industrial parks and shopping centers.

More information about Crescent Resources is available on the Internet
at www.crescent-resources.com

This information provided by PR Newswire.com


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