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| Camden Property Trust Announces the Completion of $200 Million Senior Note Offering |
HOUSTON, April 16 /PRNewswire/ -- Camden Property Trust (NYSE: CPT) announced the successful completion of the sale of 7% $200 million senior unsecured notes. The $200 million notes will mature, unless previously redeemed, on April 15, 2004. The net proceeds will be used to repay the outstanding balances on Camden's unsecured lines of credit and for general working capital purposes. Underwriters for this transaction were Chase Securities Inc., J.P. Morgan & Co., NationsBanc Montgomery Securities LLC, Merrill Lynch & Co., and Warburg Dillon Reed LLC. Camden Property Trust is a real estate company engaged in the ownership, development, acquisition, marketing, management and disposition of multifamily apartment communities. Camden owns interests in and operates 148 properties containing 51,184 apartment homes in the Sunbelt and Midwestern markets from Florida to California. Upon completion of 14 properties under development, the Company's portfolio will increase to 56,842 apartment homes in 162 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 certain credit risks and uncertainties which 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 website 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 local, 713-354-2500
