Camden Property Trust Announces Dividend Increase and Sets Date for Annual Shareholder Meeting

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Camden Property Trust Announces Dividend Increase and Sets Date for Annual Shareholder Meeting

    HOUSTON, March 15 /PRNewswire/ -- The Board of Trust Managers of Camden
Property Trust (NYSE: CPT) today declared a $0.5625 per share dividend
distribution to holders of record as of March 31, 2000 of its Common Shares of
Beneficial Interest.  The dividend to be paid on April 17, 2000 equates to an
annual dividend rate of $2.25 per share, and represents an 8.2% increase over
1999's dividend rate.
    "The current dividend represents a substantial increase over prior years,"
said Camden's Chairman, Richard Campo.  "With a payout ratio of less than 65%,
we are retaining a significant amount of internally generated cash flow while
increasing dividends at a rate closer to our projected funds from operations
growth rate."
    The Board also declared a first quarter dividend of $0.5625 per share for
its Series A Cumulative Convertible Preferred Shares.  The preferred dividend
is payable on May 15, 2000 to all Series A preferred shareholders of record as
of March 31, 2000.
    In addition, Camden announced that its Annual Meeting of Shareholders will
be held on May 4, 2000 at The St. Regis Hotel, 1919 Briar Oaks Lane, Houston,
Texas at 10:00 a.m., Central Time.  The Company intends to begin mailing its
Proxy Statement, Annual Report to Shareholders, voting materials and other
meeting information by March 31, 2000 to shareholders of record as of
March 22, 2000.
    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.
    For more information, please contact Camden's Investor Relations
Department at 1-800-9Camden, or 713/354-2787, or access Camden's web site at
http://www.camdenprop.com.

SOURCE Camden Property Trust

http://www.camdenprop.com
CONTACT:
Investor Relations of Camden Property Trust,
800-9Camden, or 713-354-2787