Released By Crescent Resources News Release
April 18, 2001

CRESCENT RESOURCES EXPANDS WITH SECOND HOME EXPERTISE

Jim Mozley’s real estate development career spans more than 25 years

Charlotte, N.C., March 6, 2001 … James W. (Jim) Mozley has joined Crescent Resources, LLC as senior vice president, it was announced by H. Thomas Webb, III, Crescent senior vice president of residential real estate. Mozley, who will be based in the Hilton Head Island, S.C., area, will concentrate on Crescent’s emerging second-home division. He assumes his responsibilities immediately.

"Jim is incredibly well-regarded in residential real estate on a national level," said Tom Webb. "He has all the right skills to start this new division for us. With Jim at the helm, we have high expectations for our second-home division. We were lucky to land him."

Mozley is relocating from Hawaii. He has served since 1992 as president and CEO of Molokai Ranch, a 60,000-acre adventure resort. A real working cattle ranch, Molokai Resort includes mountain, beach and ocean adventure activities and luxury accommodations. Prior to joining Molokai Ranch, Mozley was vice president and general manager of Amfac’s properties division in charge of the Kaanapali Resort and 15,000 acres of the company’s development land.

Mozley is returning to the very place where he began his career – Hilton Head Island, S.C. After graduating from the Georgia Institute of Technology in 1973, he joined the Sea Pines Company in Hilton Head. He moved next to Boca Raton, Fla., to join Arvida Corporation. In 1982, he formed Mozley Company, Inc., in Atlanta, Ga., which specialized in planning and designing large-scale, master-planned communities.

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 western 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.

Among the company’s country club communities are Sugarloaf Country Club near Atlanta and Oldfield in Hilton Head, S.C. Crescent has developed numerous neighborhoods on Lake Norman, Lake Wylie and Mountain Island Lake near Charlotte, on Lake Keowee in the South Carolina mountains near Clemson and on Lake James in the North Carolina mountains near Morganton. The company is also involved in the country club communities of Chaparral Pines and The Rim in Payson, Ariz. In addition,

Crescent has an interest in LandMar Group, developer of the communities LandMark and Grand Haven, among others. The company also has developed approximately 12 million square feet of commercial and industrial space in cities such as Charlotte; Nashville, Tenn.; Tampa, Fla.; Orlando, Fla.; Washington, D.C.; and Atlanta.

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

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