Camden Property Trust Announces Sale of Five Multifamily Communities

The sales price represented a blended cap rate of 5.3% based on projected 2007 net operating income for the five communities after a 3.0% management fee and $650 per unit in capital expenditure reserves. The five communities had an average age of 23 years and a weighted average monthly rental rate of $624 per home.

“We are pleased to have completed this transaction at a very attractive price and cap rate,” said Richard J. Campo, Camden’s Chairman and Chief Executive Officer. “The sale of these assets provides us with capital to re-invest in future opportunities with higher growth potential. In addition, by selling our older assets and recycling capital into development, we are maintaining a high quality portfolio with one of the lowest average age per community in the industry.”

In addition to historical information, this press release contains forward-looking statements under the federal securities law. These statements are based on current expectations, estimates and projections about the industry and markets in which Camden operates, management's beliefs, and assumptions made by management. Forward-looking statements are not guarantees of future performance and involve certain risks and uncertainties which are difficult to predict.

Camden Property Trust is a real estate company engaged in the ownership, development, acquisition, management and disposition of multifamily apartment communities. Camden owns interests in and operates 180 properties containing 62,338 apartment homes across the United States. Upon completion of 12 properties under development, the Company’s portfolio will increase to 66,121 apartment homes in 192 properties.

For additional information, please contact Camden’s Investor Relations Department at (800) 922-6336 or (713) 354-2787 or access our website at .