Camden Property Trust Announces Sale of Tampa Apartment Community.

HOUSTON -- Camden Property Trust (NYSE:CPT) today announced the sale of Camden Ybor City, a 454 apartment home community in Tampa, Florida, to a condominium converter for $61.5 million. The property was developed by Camden and completed in 2002.

"We are pleased to announce the sale of this asset at an extremely attractive price and cap rate," said Richard J. Campo, Camden's Chairman and Chief Executive Officer. "This sale represents one of the final steps in the financing plan we described last fall for our acquisition of Summit Properties Inc. We have now successfully completed asset sales of nearly $400 million to joint ventures and over $120 million to unrelated third parties, and used the proceeds to retire debt incurred to fund the cash portion of the merger."

"The recent completion of the Summit merger and our corresponding asset sales have been milestones in the transformation of Camden's operating platform," said Keith Oden, Camden's President and Chief Operating Officer. "We have achieved our goal of having single digit NOI concentrations in all of our markets, and we now have a meaningful presence in high-growth markets on both the East and West Coast."

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 191 properties containing 65,992 apartment homes across the United States. Upon completion of seven properties under development, the Company's portfolio will increase to 68,520 apartment homes in 198 properties. For additional information, please contact Camden's Investor Relations Department at 1-800-9Camden or 713-354-2787 or access our website at http://www.camdenliving.com.