Standard & Poor's has announced that Investors Real Estate Trust will replace Crescent Real Estate Equities Co. in the S&P REIT Composite Index after the close of trading on Aug. 3.IRET, a Minot, N.D.-based REIT engaged in the ownership and operation of residential, commercial, office, and retail properties in the United States, will replace Crescent because the latter is scheduled to be acquired by Morgan Stanley Real Estate on or about that date, S&P reported. S&P can be found online at http://www.standardandpoors.com.

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