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| Camden Property Trust Executive Officers Invest $17.5 Million in Company Shares |
HOUSTON, Jan. 10 /PRNewswire/ -- Camden Property Trust (NYSE: CPT) announced today that its six senior executive officers have completed the purchase of 666,034 shares of Camden common shares of beneficial interest for a total of $17.5 million. The transactions were open market purchases funded via full recourse personal loans made to each executive at market rates and terms by Bank One. A corporate guarantee was provided to Bank One by Camden in order to facilitate the transaction. However, each executive is fully responsible for his or her loan obligations and has indemnified Camden. "We believe that Camden's shares are significantly undervalued, and we are acting on that belief by personally purchasing shares," said Ric Campo, Camden's Chairman and CEO. "Camden's board is pleased that its executives are willing to make such large additions to their personal investments in Camden. This transaction clearly demonstrates our commitment to the Company and together with the Company's recent share buyback program, it further evidences the alignment of interests between senior management and our shareholders." 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 153 properties containing 53,311 apartment homes in the Sunbelt and Midwestern markets from Florida to California. Upon completion of six properties under development, the Company's portfolio will increase to 55,785 apartment homes in 159 properties. 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 a number of risks and uncertainties that are difficult to predict. For more information, please contact Richard J. Campo or D. Keith Oden at 1-800-9Camden, or locally at (713) 354-2500 or visit Camden's web site at http://www.camdenprop.com.SOURCE Camden Property Trust
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CONTACT:
Richard J. Campo or D. Keith Oden, both of
Camden Property Trust, 800-9Camden or 713-354-2500
