Camden Property Trust (CPT) 8-K Camden Property Trust Announces Fourth Quarter and Full Year 2007 Operating Results

gEXHIBIT 99.2

FOURTH QUARTER 2007

Supplemental Operating and Financial Data

Camden Monument Place - Fairfax, VA

368 Apartment Homes

Currently In Lease-Up

Camden Property Trust

Three Greenway Plaza, Suite 1300

Houston, Texas 77046

Phone: 713-354-2500  Fax: 713-354-2700

www.camdenliving.com

In addition to historical information, this document 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	TABLE OF CONTENTS
	Page
Press Release Text	3
Financial Highlights	6
Operating Results	7
Funds from Operations	8
Balance Sheets	9
Portfolio Statistics	10
Components of Property Net Operating Income	11
"Same Property" Fourth Quarter Comparisons	12
"Same Property" Sequential Quarter Comparisons	13
"Same Property" Year to Date Comparisons	14
Joint Venture Operations	15
Current Development Pipeline	16
Joint Venture Development Pipeline	17
Future Development Pipeline & Land Held for Sale	18
Redevelopment Summary	19
Notes Receivable Summary	20
Acquisitions & Dispositions	21
Debt Analysis	22
Debt Covenant Analysis	23
Capitalized Expenditures & Maintenance Expense	24
2008 Financial Outlook	25
Non-GAAP Financial Measures - Definitions & Reconciliations	26
Other Data	28
Community Table	29

CAMDEN PROPERTY TRUST ANNOUNCES FOURTH QUARTER
AND FULL YEAR 2007 OPERATING RESULTS

Houston, TEXAS (February 7, 2008) – Camden Property Trust (NYSE: CPT) announced that its funds from operations (“FFO”) for the fourth quarter of 2007 totaled $0.94 per diluted share or $57.1 million, as compared to $0.87 per diluted share or $54.7 million for the same period in 2006.

FFO for the twelve months ended December 31, 2007 totaled $3.66 per diluted share or $227.2 million, as compared to $3.88 per diluted share or $237.8 million for the same period in 2006.  FFO for the twelve months ended December 31, 2006 included a $0.43 per diluted share impact from gain on sale of land.

Net Income (“EPS”)

The Company reported net income (“EPS”) of $81.0 million or $1.41 per diluted share for the fourth quarter of 2007, as compared to $31.4 million or $0.53 per diluted share for the same period in 2006.  EPS for the three months ended December 31, 2007 included a $1.17 per diluted share impact from gain on sale of land and discontinued operations, net of minority interest. EPS for the three months ended December 31, 2006 included a $0.31 per diluted share impact from gain on sale of land and discontinued operations, net of minority interest.

For the twelve months ended December 31, 2007, net income totaled $148.5 million or $2.51 per diluted share, as compared to $232.8 million or $3.96 per diluted share for the same period in 2006.  EPS for the twelve months ended December 31, 2007 included a $1.58 per diluted share impact from gain on sale of land and discontinued operations, net of minority interest.  EPS for the twelve months ended December 31, 2006 included a $3.16 per diluted share impact from gain on sale of land, operating properties, joint venture properties and discontinued operations, net of minority interest.

A reconciliation of net income to FFO is included in the financial tables accompanying this press release.

Same-Property Results

For the 42,089 apartment homes included in consolidated same-property results, fourth quarter 2007 same-property net operating income (“NOI”) increased 5.0% compared to the fourth quarter of 2006, with revenues increasing 2.4% and expenses declining 1.7%.  On a sequential basis, fourth quarter 2007 same-property NOI increased 3.4% compared to the third quarter of 2007, with revenues declining 1.4% and expenses declining 8.9% compared to the prior quarter.  On a full-year basis, 2007 same-property NOI increased 5.1%, with revenue growth of 4.1% and expense growth of 2.4% compared to the same period in 2006.  Same-property physical occupancy levels for the combined portfolio averaged 93.6% during the fourth quarter of 2007, compared to 94.1% in the fourth quarter of 2006 and 94.5% in the third quarter of 2007.

The Company defines same-property communities as communities owned and stabilized as of January 1, 2006, excluding properties held for sale and communities under redevelopment.  A reconciliation of net income to net operating income and same-property net operating income is included in the financial tables accompanying this press release.

Development Activity

As of December 31, 2007, Camden had four wholly-owned apartment communities which were completed and in lease-up:  Camden Old Creek in San Marcos, CA, a $92.1 million project that is currently 89% leased; Camden Royal Oaks in Houston, TX, a $21.0 million project that is currently 77% leased; Camden Monument Place in Fairfax, VA, a $62.2 million project that is currently 72% leased; and Camden City Centre in Houston, TX, a $51.1 million project that is currently 58% leased.  The Company also had one joint venture community which was completed and in lease-up:  Camden Plaza in Houston, TX, a $40.7 million project that is currently 59% leased.

The Company has four additional communities currently under construction and in lease-up:  Camden Potomac Yard in Arlington, VA, a $110.0 million project that is currently 20% leased; Camden Summerfield in Landover, MD, a $68.0 million project that is currently 19% leased; Camden College Park in College Park, MD, a $139.9 million joint venture project that is currently 18% leased; and Camden Main & Jamboree in Irvine, CA, a $112.0 million joint venture project that is currently 10% leased.

Camden’s current development pipeline under construction includes seven wholly-owned communities comprising 2,126 apartment homes with a total budgeted cost of $401.0 million.

The Company also has four joint venture communities under construction comprising 1,257 apartment homes with a total budgeted cost of $333.7 million.

Camden’s future development pipeline currently consists of 18 potential developments comprising 5,840 apartment homes and a total estimated cost of $1.5 billion.  The future pipeline represents projects in the early phase of the development process for which Camden either owns the land, has an option to acquire the land or enter into a leasehold interest, or is the buyer under a long-term conditional contract.

Disposition Activity

During the quarter, the Company disposed of seven communities consisting of 2,124 apartment homes which were previously held for sale:  Camden Ridge, a 208-home apartment community in Fort Worth, TX; Camden Terrace, a 340-home apartment community in Fort Worth, TX; Camden Glen, a 304-home apartment community in Greensboro, NC; Camden Wendover, a 216-home apartment community in Greensboro, NC; Camden Eastchase, a 220-home apartment community in Charlotte, NC; Camden Timber Creek, a 352-home apartment community in Charlotte, NC; and Camden Isles, a 484-home apartment community in Tampa, FL.  The seven communities were sold for a total of $120.5 million, resulting in a gain on sale of $75.3 million.

Camden also completed the sale of 0.9 acres of undeveloped land in Miami, FL during the quarter for $6.1 million, resulting in a gain on sale of $0.7 million.

Properties and Land Held for Sale

At December 31, 2007, Camden had two operating communities consisting of 319 apartment homes held for sale: Camden Ridgeview, a 167-home apartment community in Austin, TX; and Camden Pinnacle, a 224-home apartment community in Denver, CO.

The Company also had 4.6 acres of undeveloped land in Boca Raton, FL and Dallas, TX classified as held for sale at quarter-end.

Stock Repurchase

During the fourth quarter of 2007, Camden repurchased 2,276,500 common shares at an average price per share of $50.50, for a total of $115.0 million.  Subsequent to quarter-end, the Company repurchased an additional 690,400 common shares at an average price per share of $43.41, for a total of $30.0 million.  The Company completed a total of $230.1 million of common share repurchases during 2007 and early 2008.

On January 30, 2008, Camden’s Board of Trust Managers approved the repurchase of up to an additional $250.0 million of its common shares.

Earnings Guidance

Camden provided initial earnings guidance for 2008 based on its current and expected views of the apartment market and general economic conditions.  Full-year 2008 FFO is expected to be $3.60 to $3.80 per diluted share, and full-year 2008 EPS is expected to be $0.44 to $0.66 per diluted share.  First quarter 2008 earnings guidance is $0.87 to $0.91 per diluted share for FFO and $0.08 to $0.12  per diluted share for EPS.  Guidance for EPS excludes potential future gains on the sale of properties.  Camden intends to update its earnings guidance to the market on a quarterly basis.

The Company’s initial 2008 earnings guidance is based on projections of same-property NOI growth between 2.25% and 3.25%, acquisitions of $200 -$400 million, dispositions of $175 - $380 million and new development starts of $200 - -$500 million.  Additional information on the Company’s 2008 financial outlook and a reconciliation of expected net income to expected FFO are included in the financial tables accompanying this press release.

Conference Call

The Company will hold a conference call on Friday, February 8, 2008 at 10:00 a.m. Central Time to review its fourth quarter and full-year 2007 results and discuss its outlook for future performance.  To participate in the call, please dial (800) 860-2442 (domestic) or (412) 858-4600 (international) by 9:50 a.m. Central Time and request the Camden Property Trust Fourth Quarter 2007 Earnings Call, or join the live webcast of the conference call by accessing the Investor Relations section of the Company’s website at www.camdenliving.com.  Supplemental financial information is available in the Investor Relations section of the Company’s website under Earnings Releases or by calling Camden’s Investor Relations Department at (800) 922-6336.

Forward-Looking Statements

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.

About Camden

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 182 properties containing 63,085 apartment homes across the United States.  Upon completion of 11 properties under development, the Company’s portfolio will increase to 66,468 apartment homes in 193 properties.

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

CAMDEN						FINANCIAL HIGHLIGHTS
				(In thousands, except per share, property data amounts and ratios)
(Unaudited)
	Three Months Ended December 31,				Twelve Months Ended December 31,
	2007		2006		2007		2006
Total property revenues (a)	$154,689		$144,974		$609,080		$580,576
EBITDA	91,920		83,491		354,301		337,974
Net income	80,976		31,364		148,457		232,846
Per share - basic	1.43		0.54		2.55		4.11
Per share - diluted	1.41		0.53		2.51		3.96
Income from continuing operations	12,289		10,245		47,078		125,016
per share - basic	0.22		0.18		0.81		2.21
per share - diluted	0.21		0.17		0.80		2.14
Funds from operations	57,139		54,724		227,153		237,790
Per share - diluted	0.94		0.87		3.66		3.88
Dividends per share	0.69		0.66		2.76		2.64
Dividend payout ratio	73.4%		75.9%		75.4%		68.0%
Interest expensed (including discontinued operations)	31,591		26,752		116,753		118,344
Interest capitalized	5,896		4,644		22,622		20,626
Total interest incurred	37,487		31,396		139,375		138,970
Principal amortization	3,238		3,539		13,709		14,070
Preferred dividends & distributions	1,750		1,750		7,000		7,000
Interest expense coverage ratio	2.9	x	3.1	x	3.0	x	2.9	x
Total interest coverage ratio	2.5	x	2.7	x	2.5	x	2.4	x
Fixed charge expense coverage ratio	2.5	x	2.6	x	2.6	x	2.4	x
Total fixed charge coverage ratio	2.2	x	2.3	x	2.2	x	2.1	x
Same property NOI increase (b)	5.0%		6.3%		5.1%		8.6%
(# of apartment homes included)	42,089		46,565		42,089		46,565
Gross turnover of apartment homes (annualized)	62%		65%		71%		73%
Net turnover (excludes on-site transfers and transfers to other Camden communities)	56%		57%		64%		65%
					As of December 31,
					2007		2006
Total assets					$4,890,760		$4,586,050
Total debt					$2,828,095		$2,330,976
Common and common equivalent shares, outstanding end of period (c)					59,173		63,003
Share price, end of period					$48.15		$73.85
Preferred units, end of period					$97,925		$97,925
Book equity value, end of period (d)					$1,751,265		$1,957,867
Market equity value, end of period (d)					$2,949,180		$4,752,772
Debt to total market capitalization ratio					49.0%		32.9%
Unencumbered real estate assets (at cost)
to unsecured debt ratio					199%		236%
(a)  Excludes discontinued operations.
(b) "Same Property" Communities are communities which were owned by the Company and stabilized as of January 1, 2006, excluding properties held for sale and communities
under redevelopment.
(c)  Includes at December 31, 2007:  55,683 common shares (including 242 common share equivalents related to share awards & options), plus common share equivalents
upon the assumed conversion of minority interest units (3,490)
(d)  Includes:  common shares, preferred and common units, and common share equivalents
Note:  Please refer to pages 26 and 27 for definitions and reconciliations of all non-GAAP financial measures presented in this document.

CAMDEN							OPERATING RESULTS
						(In thousands, except per share and property data amounts)
(Unaudited)	Three Months Ended						Twelve Months Ended
	December 31,						December 31,
OPERATING DATA	2007			2006			2007			2006
Property revenues
Rental revenues	$	137,586		$	131,505		$	543,475		$	527,554
Other property revenues		17,103			13,469			65,605			53,022
Total property revenues		154,689			144,974			609,080			580,576
Property expenses
Property operating and maintenance		40,755			39,842			162,639			158,624
Real estate taxes		14,931			14,132			64,667			61,539
Total property expenses		55,686			53,974			227,306			220,163
Non-property income
Fee and asset management income		1,722			3,011			8,293			14,041
Sale of technology investments		-			-			623			1,602
Interest and other income		4,047			3,674			8,804			9,771
Income on deferred compensation plans		(1,120	)		5,808			7,282			10,116
Total non-property income		4,649			12,493			25,002			35,530
Other expenses
Property management		4,437			4,669			18,413			18,490
Fee and asset management		1,150			1,089			4,552			9,382
General and administrative		8,514			12,285			32,590			37,584
Interest		31,475			26,633			116,281			117,862
Depreciation and amortization		41,355			39,328			162,189			153,609
Amortization of deferred financing costs		957			916			3,689			3,807
Expense on deferred compensation plans		(1,120	)		5,808			7,282			10,116
Total other expenses		86,768			90,728			344,996			350,850
Income from continuing operations before gain on sale of properties,
impairment loss on land, equity in income of joint ventures,
minority interests and income taxes		16,884			12,765			61,780			45,093
Gain (loss) on sale of properties, including land		-			(104	)		-			97,452
Impairment loss on land		(1,447	)		-			(1,447	)		-
Equity in income of joint ventures		454			642			1,526			5,156
Minority interests
Distributions on perpetual preferred units		(1,750	)		(1,750	)		(7,000	)		(7,000	)
Income allocated to common units and other minority interests		(1,374	)		(1,308	)		(4,729	)		(15,685	)
Income from continuing operations before income taxes		12,767			10,245			50,130			125,016
Income tax expense		(478	)		-			(1,868	)		-
Income tax expense on sale of depreciable operating properties		-			-			(1,184	)		-
Income from continuing operations		12,289			10,245			47,078			125,016
Income from discontinued operations		1,133			2,493			7,857			10,864
Gain on sale of discontinued operations, including land		76,063			18,879			107,039			99,273
Income from discontinued operations allocated to common units		(8,509	)		(253	)		(13,517	)		(2,307	)
Net income	$	80,976		$	31,364		$	148,457		$	232,846
PER SHARE DATA
Net income - basic	$	1.43		$	0.54		$	2.55		$	4.11
Net income - diluted		1.41			0.53			2.51			3.96
Income from continuing operations - basic		0.22			0.18			0.81			2.21
Income from continuing operations - diluted		0.21			0.17			0.80			2.14
Weighted average number of common and
common equivalent shares outstanding:
Basic		56,782			58,432			58,135			56,660
Diluted		57,613			59,738			59,125			59,524
PROPERTY DATA
Total operating properties (end of period) (a)		182			186			182			186
Total operating apartment homes in operating properties (end of period) (a)		63,085			63,843			63,085			63,843
Total operating apartment homes (weighted average)		52,542			53,530			53,132			55,850
Total operating apartment homes - excluding discontinued operations (weighted average)		51,192			49,393			50,504			50,872
(a) Includes joint ventures and properties held for sale.
Note: Please refer to pages 26 and 27 for definitions and reconciliations of all non-GAAP financial measures presented in this document.

CAMDEN							FUNDS FROM OPERATIONS
						(In thousands, except per share and property data amounts)
(Unaudited)	Three Months Ended						Twelve Months Ended
	December 31,						December 31,
FUNDS FROM OPERATIONS	2007			2006			2007			2006
Net income	$	80,976		$	31,364		$	148,457		$	232,846
Real estate depreciation and amortization from continuing operations		40,534			38,682			159,031			150,982
Real estate depreciation from discontinued operations		-			1,237			2,033			6,251
Adjustments for unconsolidated joint ventures		982			1,021			4,934			3,326
Income from continuing operations allocated to common units		1,444			1,004			4,279			15,230
Income from discontinued operations allocated to common units		8,509			253			13,517			2,307
Income tax expense on sale of depreciable operating properties		-			-			1,184			-
(Gain) loss on sale of operating properties		-			100			-			(91,481	)
(Gain) on sale of discontinued operations		(75,306	)		(18,937	)		(106,282	)		(78,823	)
(Gain) on sale of joint venture properties		-			-			-			(2,848	)
Funds from operations - diluted	$	57,139		$	54,724		$	227,153		$	237,790
PER SHARE DATA
Funds from operations - diluted	$	0.94		$	0.87		$	3.66		$	3.88
Cash distributions		0.69			0.66			2.76			2.64
Weighted average number of common and
common equivalent shares outstanding:
FFO - diluted		60,597			62,994			62,120			61,253
PROPERTY DATA
Total operating properties (end of period) (a)		182			186			182			186
Total operating apartment homes in operating properties (end of period) (a)		63,085			63,843			63,085			63,843
Total operating apartment homes (weighted average)		52,542			53,530			53,132			55,850
Total operating apartment homes - excluding discontinued operations (weighted average)		51,192			49,393			50,504			50,872
(a) Includes joint ventures and properties held for sale.

Note:  Please refer to pages 26 and 27 for definitions and reconciliations of all non-GAAP financial measures presented in this document.

CAMDEN	BALANCE SHEETS
	(In thousands)

(Unaudited)	Dec 31,			Sep 30,			Jun 30,			Mar 31,				Dec 31,
	2007			2007			2007			2007				2006
ASSETS
Real estate assets, at cost
Land	$	730,548		$	714,044		$	713,084		$	703,850			$	693,312
Buildings and improvements		4,316,472			4,215,662			4,144,075			4,108,955				4,036,286
		5,047,020			4,929,706			4,857,159			4,812,805				4,729,598
Accumulated depreciation		(868,074	)		(827,944	)		(788,318	)		(799,624	)			(762,011	)
Net operating real estate assets		4,178,946			4,101,762			4,068,841			4,013,181				3,967,587
Properties under development, including land		446,664			488,620			454,617			410,002				369,861
Investments in joint ventures		8,466			12,243			12,722			8,321				9,245
Properties held for sale, including land		25,253			73,325			72,577			32,879				32,763
Total real estate assets		4,659,329			4,675,950			4,608,757			4,464,383				4,379,456
Accounts receivable - affiliates		35,940			36,171			35,341			34,854				34,170
Notes receivable
Affiliates		50,358			48,172			45,560			43,507				41,478
Other		11,565			11,565			11,565			11,565				3,855
Other assets, net (a)		126,996			129,810			136,524			118,329				121,336
Cash and cash equivalents		897			1,207			3,058			1,470				1,034
Restricted cash		5,675			5,904			20,053			5,772				4,721
Total assets	$	4,890,760		$	4,908,779		$	4,860,858		$	4,679,880			$	4,586,050
LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities
Notes payable
Unsecured	$	2,265,319		$	2,198,628		$	2,065,175		$	1,897,865			$	1,759,498
Secured		562,776			565,564			566,001			568,731				571,478
Accounts payable and accrued expenses		107,403			110,643			128,892			110,486				124,834
Accrued real estate taxes		24,943			42,151			29,785			16,036				23,306
Other liabilities(b)		136,365			117,317			115,547			110,684				105,999
Distributions payable		42,689			44,180			44,982			45,137				43,068
Total liabilities		3,139,495			3,078,483			2,950,382			2,748,939				2,628,183
Commitments and contingencies
Minority interests
Perpetual preferred units		97,925			97,925			97,925			97,925				97,925
Common units		111,624			104,176			105,353			102,217				115,280
Other minority interests		10,403			10,740			10,916			10,335				10,306
Total minority interests		219,952			212,841			214,194			210,477				223,511
Shareholders' equity
Common shares of beneficial interest		654			654			654			654				650
Additional paid-in capital		2,209,631			2,207,333			2,204,525			2,199,713				2,183,622
Distributions in excess of net income		(227,025	)		(269,667	)		(241,711	)		(243,786	)	��		(213,665	)
Employee notes receivable		(1,950	)		(1,963	)		(1,976	)		(2,025	)			(2,036	)
Treasury shares, at cost		(433,874	)		(318,902	)		(265,210	)		(234,092	)			(234,215	)
Other comprehensive income (c)		(16,123	)		-			-			-				-
Total shareholders' equity		1,531,313			1,617,455			1,696,282			1,720,464				1,734,356
Total liabilities and shareholders' equity	$	4,890,760		$	4,908,779		$	4,860,858		$	4,679,880			$	4,586,050
(a) includes:
net deferred charges of:	$	10,811		$	10,308		$	11,565		$	9,724			$	10,295
value of in place leases of:	$	258		$	703		$	1,091		$	61			$	242
(b) includes:
deferred revenues of:	$	2,459		$	2,738		$	2,937		$	3,321			$	3,875
above/below market leases of:	$	(13	)	$	25		$	43		$	8			$	32
distributions in excess of investments in joint ventures of:	$	23,653		$	20,867		$	19,549		$	18,805			$	18,350
fair value adjustment of derivative instrument:	$	16,123			-			-			-				-
(c) Represents the fair value adjustment of the derivative instrument.

CAMDEN PORTFOLIO STATISTICS

(Unaudited)
COMMUNITY PORTFOLIO AT DECEMBER 31, 2007 (in apartment homes)
	"Same Property"		Non-"Same Property"(a)		Wholly - Owned		Joint Venture		Stabilized Operating		Completed in Lease-up		Total Operating		Under Development		Total
D.C. Metro (b)(c)		2,663		1,494		4,157		-		4,157		368		4,525		1,543		6,068
Las Vegas, NV		2,937		1,080		4,017		4,047		8,064		-		8,064		-		8,064
Los Angeles/Orange County, CA (d)		1,770		-		1,770		421		2,191		-		2,191		290		2,481
San Diego/Inland Empire, CA		846		-		846		-		846		350		1,196		-		1,196
Tampa, FL		4,613		890		5,503		-		5,503		-		5,503		-		5,503
Dallas, TX		5,441		1,328		6,769		456		7,225		-		7,225		-		7,225
Houston, TX (e)		3,350		894		4,244		1,216		5,460		886		6,346		733		7,079
SE Florida		2,520		-		2,520		-		2,520		-		2,520		-		2,520
Charlotte, NC		3,141		433		3,574		-		3,574		-		3,574		-		3,574
Orlando, FL		3,296		-		3,296		-		3,296		-		3,296		261		3,557
Atlanta, GA		3,202		-		3,202		-		3,202		-		3,202		-		3,202
Denver, CO		1,985		224		2,209		320		2,529		-		2,529		-		2,529
Raleigh, NC		2,220		484		2,704		-		2,704		-		2,704		-		2,704
Phoenix, AZ		1,441		-		1,441		992		2,433		-		2,433		-		2,433
Austin, TX		1,968		810		2,778		-		2,778		-		2,778		556		3,334
Other		696		1,066		1,762		3,237		4,999		-		4,999		-		4,999
Total Portfolio		42,089		8,703		50,792		10,689		61,481		1,604		63,085		3,383		66,468

(a)  Includes ten redevelopment properties (3,512 apartment homes) and two properties held for sale and reported in discontinued operations (391 apartment homes).

(b)  D.C. Metro includes Washington D.C., Maryland, and Northern Virginia.

(c)  508 units under development in College Park, MD are held through a joint venture investment.

(d)  290 units under development in Irvine, CA are held through a joint venture investment.

(e)  459 units under development and 271 units completed in lease-up in Houston, TX are held through joint venture investments.

FOURTH QUARTER NOI CONTRIBUTION PERCENTAGE BY REGION										WEIGHTED AVERAGE OCCUPANCY FOR THE QUARTER ENDED: (h)
	"Same Property"			Operating			Incl. JVs at			Dec 31			Sep 30			Jun 30			Mar 31			Dec 31
	Communities			Communities (f)			Pro Rata % (g)			2007			2007			2007			2007			2006
D.C. Metro		10.7	%		14.2	%		13.7	%		94.2	%		95.6	%		95.8	%		95.5	%		94.8	%
Las Vegas, NV		6.7	%		7.6	%		8.7	%		93.7	%		94.6	%		95.3	%		95.5	%		95.0	%
Los Angeles/Orange County, CA		7.9	%		6.5	%		6.4	%		93.9	%		94.5	%		93.3	%		92.7	%		93.5	%
San Diego/Inland Empire, CA		3.1	%		3.3	%		3.2	%		95.1	%		94.3	%		93.1	%		93.8	%		94.0	%
Tampa, FL		8.5	%		8.1	%		7.8	%		92.6	%		93.3	%		94.2	%		94.5	%		92.8	%
Dallas, TX		7.3	%		7.8	%		7.7	%		92.5	%		93.5	%		94.6	%		94.4	%		93.8	%
Houston, TX		6.2	%		7.1	%		7.3	%		94.6	%		95.2	%		95.2	%		95.0	%		94.1	%
SE Florida		9.4	%		7.7	%		7.5	%		94.3	%		95.4	%		95.4	%		96.2	%		95.4	%
Charlotte, NC		7.6	%		7.0	%		6.7	%		93.8	%		95.2	%		95.7	%		95.1	%		94.0	%
Orlando, FL		7.2	%		5.8	%		5.6	%		92.9	%		93.6	%		93.5	%		92.6	%		94.6	%
Atlanta, GA		7.3	%		5.9	%		5.6	%		94.1	%		95.6	%		94.7	%		93.5	%		94.1	%
Denver, CO		5.0	%		4.3	%		4.6	%		95.5	%		96.1	%		96.0	%		94.5	%		93.3	%
Raleigh, NC		4.6	%		4.6	%		4.5	%		92.5	%		93.8	%		95.0	%		93.4	%		92.4	%
Phoenix, AZ		3.5	%		2.8	%		3.0	%		93.4	%		94.5	%		94.2	%		95.1	%		94.4	%
Austin, TX		3.3	%		4.0	%		3.9	%		93.8	%		94.3	%		94.7	%		93.8	%		95.2	%
Other		1.7	%		3.3	%		3.8	%		94.3	%		95.0	%		95.5	%		94.9	%		93.8	%
Total Portfolio		100.0	%		100.0	%		100.0	%		93.7	%		94.5	%		94.9	%		94.6	%		94.1	%

(f)  Operating communities include wholly-owned communities and completed communities in lease-up at quarter end and exclude communities sold during the quarter.

(g)  Based on total NOI from operating communities plus Camden's pro-rata share of total NOI from joint venture communities.

(h) Occupancy figures include apartment homes held through joint venture investments but exclude communities in lease-up, under development, or under redevelopment.

CAMDEN		COMPONENTS OF
	PROPERTY NET OPERATING INCOME
	(In thousands, except property data amounts)

(Unaudited)
	Apartment		Three Months Ended December 31,							Twelve Months Ended December 31,
Property Revenues	Homes		2007		2006		Change			2007		2006			Change
"Same Property" Communities(a)		42,089	$	124,571	$	121,594	$	2,977		$	499,776	$	480,305		$	19,471
Non-"Same Property" Communities (b)		4,800		15,899		12,084		3,815			58,195		36,611			21,584
Development and Lease-Up Communities (c)		3,459		3,419		403		3,016			8,473		508			7,965
Redevelopment Communities (d)		3,512		9,657		9,715		(58	)		38,177		38,837			(660	)
Dispositions / Other (e)		-		1,143		1,178		(35	)		4,459		24,315			(19,856	)
Total Property Revenues		53,860	$	154,689	$	144,974	$	9,715		$	609,080	$	580,576		$	28,504
Property Expenses
"Same Property" Communities(a)		42,089	$	44,728	$	45,519	$	(791	)	$	185,145	$	180,862		$	4,283
Non-"Same Property" Communities (b)		4,800		5,284		3,867		1,417			20,623		12,866			7,757
Development and Lease-Up Communities (c)		3,459		1,756		297		1,459			4,726		532			4,194
Redevelopment Communities (d)		3,512		3,703		3,495		208			14,865		14,526			339
Dispositions / Other (e)		-		215		796		(581	)		1,947		11,377			(9,430	)
Total Property Expenses		53,860	$	55,686	$	53,974	$	1,712		$	227,306	$	220,163		$	7,143
Property Net Operating Income
"Same Property" Communities(a)		42,089	$	79,843	$	76,075	$	3,768		$	314,631	$	299,443		$	15,188
Non-"Same Property" Communities (b)		4,800		10,615		8,217		2,398			37,572		23,745			13,827
Development and Lease-Up Communities (c)		3,459		1,663		106		1,557			3,747		(24	)		3,771
Redevelopment Communities (d)		3,512		5,954		6,220		(266	)		23,312		24,311			(999	)
Dispositions / Other (e)		-		928		382		546			2,512		12,938			(10,426	)
Total Property Net Operating Income		53,860	$	99,003	$	91,000	$	8,003		$	381,774	$	360,413		$	21,361

Income from Discontinued Operations(f)	Three Months Ended December 31,						Twelve Months Ended December 31,
	2007			2006			2007			2006
Property Revenues	$	2,928		$	7,704		$	20,932		$	36,686
Property Expenses		1,679			3,855			10,570			19,083
Property Net Operating Income		1,249			3,849			10,362			17,603
Interest		(116	)		(119	)		(472	)		(482	)
Depreciation and Amortization		-			(1,237	)		(2,033	)		(6,257	)
Income from discontinued operations allocated to common units		(8,509	)		(253	)		(13,517	)		(2,307	)
Gain on sale of discontinued operations		76,063			18,879			107,039			99,273
Income from Discontinued Operations	$	68,687		$	21,119		$	101,379		$	107,830

Notes:
(a)	"Same Property" Communities are communities which were owned by the Company and stabilized as of January 1, 2006, excluding properties held for sale.
(b)	Non-"Same Property" Communities are stabilized communities acquired or developed by the Company after January 1, 2006, excluding properties held for sale.
(c)	Development and Lease-Up Communities are non-stabilized communities developed or acquired by the Company after January 1, 2006, excluding properties
	held for sale.
(d)	Redevelopment Communities are non-stabilized communities redeveloped by the Company after January 1, 2006, excluding properties held for sale.
(e)	Disposition Communities include those communities disposed of by the Company which are not classified as "Discontinued Operations". "Other" includes
	results from non-multifamily rental properties.  "Other" property revenues includes the amortization of above and below market leases of communities
	acquired during 2006.
(f)	Represents operating results for communities disposed of during 2006 or held for sale at December 31, 2007, of which Camden has, or expects to have, no
	continuing involvement.

	"SAME PROPERTY"
CAMDEN		FOURTH QUARTER COMPARISONS
		December 31, 2007
		(In thousands, except property data amounts)

(Unaudited)
	Revenues							Expenses							NOI
Quarterly Results (a)		4Q07		4Q06	Growth				4Q07		4Q06	Growth				4Q07		4Q06	Growth
D.C. Metro	$	11,758	$	11,624		1.2	%	$	3,190	$	3,175		0.5	%	$	8,568	$	8,449		1.4	%
Las Vegas, NV		8,071		8,068		0.0	%		2,733		2,686		1.7	%		5,338		5,382		(0.8	%)
Los Angeles/Orange County, CA		8,899		8,459		5.2	%		2,561		2,721		(5.9	%)		6,338		5,738		10.5	%
San Diego/Inland Empire, CA		3,967		3,799		4.4	%		1,480		1,430		3.5	%		2,487		2,369		5.0	%
Tampa, FL		11,779		11,857		(0.7	%)		4,985		5,326		(6.4	%)		6,794		6,531		4.0	%
Dallas, TX		11,253		10,906		3.2	%		5,392		5,166		4.4	%		5,861		5,740		2.1	%
Houston, TX		8,283		7,961		4.0	%		3,317		3,422		(3.1	%)		4,966		4,539		9.4	%
SE Florida		11,368		11,340		0.2	%		3,876		4,195		(7.6	%)		7,492		7,145		4.9	%
Charlotte, NC		9,138		8,443		8.2	%		3,075		3,022		1.8	%		6,063		5,421		11.8	%
Orlando, FL		8,997		9,396		(4.2	%)		3,291		3,573		(7.9	%)		5,706		5,823		(2.0	%)
Atlanta, GA		9,000		8,702		3.4	%		3,201		3,169		1.0	%		5,799		5,533		4.8	%
Denver, CO		5,664		5,232		8.3	%		1,697		1,741		(2.5	%)		3,967		3,491		13.6	%
Raleigh, NC		5,606		5,212		7.6	%		1,918		1,862		3.0	%		3,688		3,350		10.1	%
Phoenix, AZ		4,047		4,067		(0.5	%)		1,230		1,268		(3.0	%)		2,817		2,799		0.6	%
Austin, TX		4,666		4,439		5.1	%		2,055		2,047		0.4	%		2,611		2,392		9.2	%
Other		2,075		2,089		(0.7	%)		727		716		1.5	%		1,348		1,373		(1.8	%)
Total Same Property	$	124,571	$	121,594		2.4	%	$	44,728	$	45,519		(1.7	%)	$	79,843	$	76,075		5.0	%

	Apartment
	Homes		% of NOI			Average Occupancy (a)								Weighted Average Rental Rate (b)
Quarterly Results (a)	Included		Contribution(a)				4Q07		4Q06		Change				4Q07		4Q06	Change
D.C. Metro		2,663		10.7	%		94.7	%	94.7	%		0.0	%	$	1,446	$	1,455		(0.6	%)
Las Vegas, NV		2,937		6.7	%		93.2	%	95.7	%		(2.5	%)		872		870		0.2	%
Los Angeles/Orange County, CA		1,770		7.9	%		93.9	%	92.9	%		1.0	%		1,660		1,633		1.6	%
San Diego/Inland Empire, CA		846		3.1	%		95.1	%	94.0	%		1.1	%		1,523		1,511		0.8	%
Tampa, FL		4,613		8.5	%		93.3	%	93.2	%		0.1	%		805		837		(3.9	%)
Dallas, TX		5,441		7.3	%		91.9	%	93.9	%		(2.0	%)		650		639		1.7	%
Houston, TX		3,350		6.2	%		94.7	%	94.2	%		0.5	%		788		777		1.5	%
SE Florida		2,520		9.4	%		94.3	%	95.4	%		(1.1	%)		1,475		1,460		1.0	%
Charlotte, NC		3,141		7.6	%		93.8	%	94.1	%		(0.3	%)		918		885		3.8	%
Orlando, FL		3,296		7.2	%		92.9	%	94.6	%		(1.7	%)		899		933		(3.6	%)
Atlanta, GA		3,202		7.3	%		94.1	%	94.1	%		0.0	%		911		902		1.0	%
Denver, CO		1,985		5.0	%		95.5	%	93.3	%		2.2	%		895		849		5.4	%
Raleigh, NC		2,220		4.6	%		92.3	%	92.4	%		(0.1	%)		788		765		3.0	%
Phoenix, AZ		1,441		3.5	%		93.5	%	94.6	%		(1.1	%)		921		925		(0.4	%)
Austin, TX		1,968		3.3	%		93.7	%	95.1	%		(1.4	%)		731		708		3.2	%
Other		696		1.7	%		92.4	%	94.0	%		(1.6	%)		969		966		0.4	%
Total Same Property		42,089		100.0	%		93.6	%	94.1	%		(0.5	%)	$	950	$	944		0.6	%
(a) "Same Property" Communities are communities which were owned by the Company and stabilized as of January 1, 2006, excluding properties held for sale and communities
under redevelopment.
(b) Weighted average rental rates are the Company's market rental rates after "loss to lease" and concessions, but before vacancy and bad debt.

					"SAME PROPERTY"
CAMDEN										SEQUENTIAL QUARTER COMPARISONS
																December 31, 2007
																	(In thousands, except property data amounts)
(Unaudited)
	Revenues							Expenses									NOI
Quarterly Results (a)		4Q07		3Q07	Growth				4Q07			3Q07	Growth					4Q07		3Q07	Growth
D.C. Metro	$	11,758	$	12,010		(2.1	%)	$	3,190		$	3,362		(5.1	%)		$	8,568	$	8,648		(0.9	%)
Las Vegas, NV		8,071		8,137		(0.8	%)		2,733			2,899		(5.7	%)			5,338		5,238		1.9	%
Los Angeles/Orange County, CA		8,899		8,971		(0.8	%)		2,561			2,792		(8.3	%)			6,338		6,179		2.6	%
San Diego/Inland Empire, CA		3,967		3,947		0.5	%		1,480			1,499		(1.3	%)			2,487		2,448		1.6	%
Tampa, FL		11,779		11,988		(1.7	%)		4,985			5,508		(9.5	%)			6,794		6,480		4.8	%
Dallas, TX		11,253		11,376		(1.1	%)		5,392			5,832		(7.5	%)			5,861		5,544		5.7	%
Houston, TX		8,283		8,325		(0.5	%)		3,317			3,584		(7.4	%)			4,966		4,741		4.7	%
SE Florida		11,368		11,698		(2.8	%)		3,876			4,391		(11.7	%)			7,492		7,307		2.5	%
Charlotte, NC		9,138		9,154		(0.2	%)		3,075			3,332		(7.7	%)			6,063		5,822		4.1	%
Orlando, FL		8,997		9,199		(2.2	%)		3,291			3,692		(10.9	%)			5,706		5,507		3.6	%
Atlanta, GA		9,000		9,141		(1.5	%)		3,201			3,532		(9.4	%)			5,799		5,609		3.4	%
Denver, CO		5,664		5,736		(1.3	%)		1,697			1,924		(11.8	%)			3,967		3,812		4.1	%
Raleigh, NC		5,606		5,629		(0.4	%)		1,918			2,128		(9.9	%)			3,688		3,501		5.3	%
Phoenix, AZ		4,047		4,114		(1.6	%)		1,230			1,475		(16.6	%)			2,817		2,639		6.7	%
Austin, TX		4,666		4,743		(1.6	%)		2,055			2,341		(12.2	%)			2,611		2,402		8.7	%
Other		2,075		2,144		(3.2	%)		727			817		(11.0	%)			1,348		1,327		1.6	%
Total Same Property	$	124,571	$	126,312		(1.4	%)	$	44,728		$	49,108		(8.9	%)		$	79,843	$	77,204		3.4	%

	Apartment
	Homes		% of NOI			Average Occupancy (a)								Weighted Average Rental Rate (b)
Quarterly Results (a)	Included		Contribution(a)				4Q07		3Q07		Change				4Q07		3Q07	Change
D.C. Metro		2,663		10.7	%		94.7	%	95.6	%		(0.9	%)	$	1,446	$	1,457		(0.8	%)
Las Vegas, NV		2,937		6.7	%		93.2	%	94.4	%		(1.2	%)		872		873		(0.2	%)
Los Angeles/Orange County, CA		1,770		7.9	%		93.9	%	94.5	%		(0.6	%)		1,660		1,654		0.3	%
San Diego/Inland Empire, CA		846		3.1	%		95.1	%	94.3	%		0.8	%		1,523		1,532		(0.5	%)
Tampa, FL		4,613		8.5	%		93.3	%	93.7	%		(0.4	%)		805		817		(1.5	%)
Dallas, TX		5,441		7.3	%		91.9	%	93.2	%		(1.3	%)		650		647		0.5	%
Houston, TX		3,350		6.2	%		94.7	%	94.9	%		(0.2	%)		788		789		(0.1	%)
SE Florida		2,520		9.4	%		94.3	%	95.4	%		(1.1	%)		1,475		1,474		0.0	%
Charlotte, NC		3,141		7.6	%		93.8	%	95.4	%		(1.6	%)		918		918		0.1	%
Orlando, FL		3,296		7.2	%		92.9	%	93.6	%		(0.7	%)		899		907		(0.9	%)
Atlanta, GA		3,202		7.3	%		94.1	%	95.6	%		(1.5	%)		911		906		0.6	%
Denver, CO		1,985		5.0	%		95.5	%	96.5	%		(1.0	%)		895		886		1.0	%
Raleigh, NC		2,220		4.6	%		92.3	%	93.8	%		(1.5	%)		788		785		0.3	%
Phoenix, AZ		1,441		3.5	%		93.5	%	94.1	%		(0.6	%)		921		926		(0.6	%)
Austin, TX		1,968		3.3	%		93.7	%	94.8	%		(1.1	%)		731		729		0.3	%
Other		696		1.7	%		92.4	%	94.6	%		(2.2	%)		969		974		(0.5	%)
Total Same Property		42,089		100.0	%		93.6	%	94.5	%		(0.9	%)	$	950	$	951		(0.1	%)
(a) "Same Property" Communities are communities which were owned by the Company and stabilized as of January 1, 2006, excluding properties held for sale and communities
under redevelopment.
(b) Weighted average rental rates are the Company's market rental rates after "loss to lease" and concessions, but before vacancy and bad debt.

					"SAME PROPERTY"
CAMDEN										YEAR TO DATE COMPARISONS
								December 31, 2007
															(In thousands, except property data amounts)
(Unaudited)
	Revenues							Expenses							NOI
Year to Date Results(a)	2007		2006		Growth			2007		2006		Growth			2007		2006		Growth
D.C. Metro	$	47,487	$	46,267		2.6	%	$	12,923	$	12,387		4.3	%	$	34,564	$	33,880		2.0	%
Las Vegas, NV		32,438		31,833		1.9	%		10,735		10,654		0.8	%		21,703		21,179		2.5	%
Los Angeles/Orange County, CA		34,863		33,758		3.3	%		10,171		10,130		0.4	%		24,692		23,628		4.5	%
San Diego/Inland Empire, CA		15,546		15,002		3.6	%		5,742		5,631		2.0	%		9,804		9,371		4.6	%
Tampa, FL		48,156		46,953		2.6	%		20,927		20,621		1.5	%		27,229		26,332		3.4	%
Dallas, TX		45,137		42,991		5.0	%		22,270		21,565		3.3	%		22,867		21,426		6.7	%
Houston, TX		33,106		31,450		5.3	%		13,789		13,727		0.5	%		19,317		17,723		9.0	%
SE Florida		46,443		44,604		4.1	%		17,012		16,652		2.2	%		29,431		27,952		5.3	%
Charlotte, NC		35,861		33,362		7.5	%		12,519		12,094		3.5	%		23,342		21,268		9.8	%
Orlando, FL		36,835		37,042		(0.6	%)		13,820		13,888		(0.5	%)		23,015		23,154		(0.6	%)
Atlanta, GA		35,928		34,366		4.5	%		13,345		12,649		5.5	%		22,583		21,717		4.0	%
Denver, CO		22,332		20,908		6.8	%		6,995		7,013		(0.3	%)		15,337		13,895		10.4	%
Raleigh, NC		22,238		20,654		7.7	%		7,953		7,236		9.9	%		14,285		13,418		6.5	%
Phoenix, AZ		16,536		15,828		4.5	%		5,313		5,020		5.8	%		11,223		10,808		3.8	%
Austin, TX		18,426		17,090		7.8	%		8,602		8,568		0.4	%		9,824		8,522		15.3	%
Other		8,444		8,197		3.0	%		3,029		3,027		0.1	%		5,415		5,170		4.7	%
Total Same Property	$	499,776	$	480,305		4.1	%	$	185,145	$	180,862		2.4	%	$	314,631	$	299,443		5.1	%

	Apartment
	Homes		% of NOI			Average Occupancy (a)									Weighted Average Rental Rate (b)
Year to Date Results(a)	Included		Contribution(a)			2007			2006			Change			2007		2006		Change
D.C. Metro		2,663		11.0	%		95.4	%		95.9	%		(0.5	%)	$	1,453	$	1,426		1.9	%
Las Vegas, NV		2,937		6.9	%		94.8	%		96.1	%		(1.3	%)		873		853		2.4	%
Los Angeles/Orange County, CA		1,770		7.8	%		93.4	%		94.6	%		(1.2	%)		1,646		1,601		2.8	%
San Diego/Inland Empire, CA		846		3.1	%		94.1	%		94.5	%		(0.4	%)		1,526		1,476		3.4	%
Tampa, FL		4,613		8.7	%		94.0	%		95.1	%		(1.1	%)		821		814		0.8	%
Dallas, TX		5,441		7.3	%		93.4	%		95.0	%		(1.6	%)		645		632		2.1	%
Houston, TX		3,350		6.1	%		94.9	%		94.6	%		0.3	%		785		764		2.7	%
SE Florida		2,520		9.4	%		95.3	%		96.2	%		(0.9	%)		1,473		1,423		3.6	%
Charlotte, NC		3,141		7.4	%		95.1	%		95.7	%		(0.6	%)		902		860		4.8	%
Orlando, FL		3,296		7.3	%		93.2	%		95.5	%		(2.3	%)		914		910		0.5	%
Atlanta, GA		3,202		7.2	%		94.5	%		94.7	%		(0.2	%)		904		884		2.3	%
Denver, CO		1,985		4.9	%		95.7	%		94.4	%		1.3	%		872		843		3.5	%
Raleigh, NC		2,220		4.5	%		93.7	%		95.0	%		(1.3	%)		778		748		3.9	%
Phoenix, AZ		1,441		3.6	%		94.1	%		95.8	%		(1.7	%)		928		889		4.5	%
Austin, TX		1,968		3.1	%		94.2	%		94.9	%		(0.7	%)		723		697		3.7	%
Other		696		1.7	%		93.8	%		94.2	%		(0.4	%)		967		946		2.2	%
Total Same Property		42,089		100.0	%		94.3	%		95.2	%		(0.9	%)	$	948	$	924		2.6	%
(a) "Same Property" Communities are communities which were owned by the Company and stabilized as of January 1, 2006, excluding properties held for sale and communities
under redevelopment.
(b) Weighted average rental rates are the Company's market rental rates after "loss to lease" and concessions, but before vacancy and bad debt.

CAMDEN						JOINT VENTURE OPERATIONS
						(In thousands, except per share and property data amounts)
Company's Pro-rata Share of Joint Venture Operations:
(Unaudited)
	Three Months Ended									Twelve Months Ended
	December 31,									December 31,
OPERATING DATA(a)	2007		2006							2007			2006
Property Revenues
Rental revenues	$	5,443	$	4,793						$	20,858		$	16,775
Other property revenues		763		526							2,570			1,831
Total property revenues		6,206		5,319							23,428			18,606
Property Expenses
Property operating and maintenance		1,971		1,479							7,112			5,266
Real estate taxes		519		390							1,982			1,548
Total property expenses		2,490		1,869							9,094			6,814
Net Operating Income (NOI)		3,716		3,450							14,334			11,792
Other expenses
Interest		2,180		1,700							7,649			5,924
Depreciation and amortization		1,029		1,035							5,016			3,407
Other		53		73							143			144
Total other expenses		3,262		2,808							12,808			9,475
Gain on sale of properties, net		-		-							-			2,839
Equity in income of joint ventures	$	454	$	642						$	1,526		$	5,156
	Dec 31,		Sep 30,				Jun 30,			Mar 31,			Dec 31,
	2007		2007				2007			2007			2006
BALANCE SHEET DATA (b)
Real estate assets, net	$	1,075,437	$	1,063,675			$	1,045,006		$	995,189		$	976,408
Cash and other assets, net		23,762		26,621				25,816			26,109			25,993
Total assets	$	1,099,199	$	1,090,296			$	1,070,822		$	1,021,298		$	1,002,401
Notes payable	$	883,972	$	859,786			$	838,937		$	795,329		$	771,633
Notes payable due to Camden		50,358		47,406				45,043			43,412			41,456
Other liabilities		15,144		17,013				18,782			10,463			11,021
Total liabilities	$	949,474	$	924,205			$	902,762		$	849,204		$	824,110
Members' equity		149,725		166,091				168,060			172,094			178,291
Total liabilities and members' equity	$	1,099,199	$	1,090,296			$	1,070,822		$	1,021,298		$	1,002,401
Camden's equity investment	$	8,466	$	12,243			$	12,722		$	8,321		$	9,245
Distributions in excess of investment in joint ventures			$	(20,867	)		$	(19,549	)	$	(18,805	)	$	(18,350	)
Camden's pro-rata share of debt	$	222,278	$	210,476			$	204,480		$	184,778		$	176,707
PROPERTY DATA(end of period)
Total operating properties		37		37				36			36			36
Total operating apartment homes		10,960		10,960				10,689			10,689			10,689
Pro rata share of operating apartment homes		2,153		2,153				2,072			2,072			2,072
Total development properties		4		4				5			5			5
Total development apartment homes		1,257		1,257				1,528			1,528			1,528
Pro rata share of development apartment homes		377		377				458			458			458
(a) Operating data represents Camden's pro-rata share of revenues and expenses.
(b) Balance sheet and property data reported at 100%.

CAMDEN															CURRENT DEVELOPMENT PIPELINE
(Unaudited)
DEVELOPMENT PIPELINE AS OF DECEMBER 31, 2007 ($ in millions)
															Estimated/Actual Dates for
			Total		Total		Cost				Construction		Initial		Construction		Stabilized		As of 2/03/08
Completed Communities			Homes		Budget		to Date				Start		Occupancy		Completion		Operations		% Leased			% Occupied
	1.	Camden Old Creek		350	$	98.0	$	92.1				1Q05		3Q06		1Q07		1Q08		89	%		89	%
		San Marcos, CA
	2.	Camden Royal Oaks		236		22.0		21.0				2Q05		2Q06		3Q06		2Q08		77	%		64	%
		Houston, TX
	3.	Camden Monument Place		368		64.0		62.2				1Q05		2Q07		4Q07		2Q08		72	%		68	%
		Fairfax, VA
	4.	Camden City Centre		379		54.0		51.1				1Q06		2Q07		4Q07		3Q08		58	%		56	%
		Houston, TX
Total Completed Communities				1,333	$	238.0	$	226.4												74	%		69	%
															Estimated/Actual Dates for
			Total		Total		Cost		Amount		Construction		Initial		Construction		Stabilized		As of 2/03/08
Development Communities			Homes		Budget		to Date		in CIP		Start		Occupancy		Completion		Operations		% Leased			% Occupied
UNDER CONSTRUCTION
	5.	Camden Potomac Yard		378	$	110.0	$	101.6	$	65.6		1Q05		3Q07		1Q08		1Q09		20	%		15	%
		Arlington, VA
	6.	Camden Summerfield		291		68.0		57.9		25.2		2Q06		4Q07		4Q08		1Q09		19	%		17	%
		Landover, MD
	7.	Camden Orange Court		261		49.0		42.2		42.2		2Q06		1Q08		3Q08		1Q09
		Orlando, FL
	8.	Camden Dulles Station		366		77.0		51.7		51.7		1Q06		2Q08		1Q09		3Q09
		Oak Hill, VA
	9.	Camden Circle C		208		27.0		10.0		10.0		2Q07		3Q08		4Q08		1Q09
		Austin, TX
	10.	Camden Whispering Oaks		274		30.0		10.2		10.2		3Q07		3Q08		1Q09		3Q09
		Houston, TX
	11.	Camden Amber Oaks		348		40.0		8.2		8.2		4Q07		4Q08		2Q09		3Q10
		Austin, TX
Total Development Communities				2,126	$	401.0	$	281.8	$	213.1
Additional land held for development (a)										233.6
Total Properties Under Development(per Balance Sheet)									$	446.7
NOI CONTRIBUTION FROM NON STABILIZED COMMUNITIES ($ in millions)
															Total Cost		4Q07 NOI
Completed Communities in lease-up															$	226.4	$	1.7
Development Communities																281.8		0.0
		Total Development NOI Contribution													$	508.2	$	1.7
(a) Please refer to the future development pipeline summary on page 18.
Note: This table contains forward-looking statements. Please see the paragraph regarding forward-looking statements on page 1 of this document.

CAMDEN									JOINT VENTURE DEVELOPMENT PIPELINE
(Unaudited)
JOINT VENTURE DEVELOPMENT PIPELINE AS OF DECEMBER 31, 2007 ($ in millions)
															Estimated/Actual Dates for
																				As of 2/03/08
Joint Venture Camden Developed Communities			Total Homes		Total Budget		Cost to Date		Amount in CIP		Construction Start		Initial Occupancy			Construction Completion		Stabilized Operations		% Leased			% Occupied
COMPLETED AND IN LEASE-UP
	1.	Camden Plaza		271	$	42.9	$	40.7	$	0.0		1Q06		2Q07			3Q07		2Q08		59	%		59	%
		Houston, TX
UNDER CONSTRUCTION
	2.	Camden College Park		508		139.9		118.5		76.3		3Q06		4Q07			4Q08		4Q09		18	%		13	%
		College Park, MD
	3.	Camden Main & Jamboree		290		112.0		107.8		68.8		3Q04		4Q07			1Q08		1Q09		10	%		8	%
		Irvine, CA
Total Joint Venture Camden Developed Communities				1,069	$	294.8	$	267.0	$	145.1
									Camden		Camden		Estimated/Actual Dates for
			Total		Total		Cost		Equity		Mezzanine		Construction			Stabilized
Joint Venture Third Party Developed Communities			Homes		Budget		to Date		Invested		Invested		Start			Operations
UNDER CONSTRUCTION
	1.	Braeswood Place		340	$	48.6	$	21.4	$	1.4	$	7.9		1Q07			4Q09
		Houston, TX
	2.	Belle Meade		119		33.2		8.6		1.0		5.1		2Q07			3Q09
		Houston, TX
Total Joint Venture Third Party Developed Communities				459	$	81.8	$	30.0	$	2.4	$	13.0

Note:  This table contains forward-looking statements.  Please see the paragraph regarding forward-looking statements on page 1 of this document.

CAMDEN			FUTURE DEVELOPMENT PIPELINE
			& LAND HELD FOR SALE
(Unaudited)
DEVELOPMENT PIPELINE AS OF DECEMBER 31, 2007 ($ in millions)
			Projected		Estimated		Cost
PIPELINE COMMUNITIES(a)			Homes		Budget		to Date
PRE CONSTRUCTION
	1.	Camden Montague		192	$	33.0	$	7.0
		Tampa, FL
	2.	Camden South Capitol		276		110.0		22.4
		Washington, DC
	3.	Camden Lake Nona		432		70.0		15.2
		Orlando, FL
	4.	Camden Noma I		313		150.0		21.9
		Washington, DC
	5.	Camden Lincoln Station		271		60.0		6.5
		Denver, CO
	6.	Camden Deer Springs		428		85.0		18.1
		Las Vegas, NV
	7.	Camden North Lamar		290		55.0		7.9
		Austin, TX
	8.	Camden McGowen Station		237		48.0		9.9
		Houston, TX
	9.	Camden Highlands		400		80.0		12.3
		Broomfield, CO
PRE DEVELOPMENT
	10.	Camden Summerfield II		187		55.0		17.0
		Landover, MD
	11.	Camden Selma and Vine		306		250.0		34.0
		Hollywood, CA
	12.	Camden Sutherland(b)		238		45.0		2.6
		Houston, TX
	13.	Camden City Centre II		239		40.0		7.2
		Houston, TX
	14.	Camden Amber Oaks II		244		30.0		3.4
		Austin, TX
	15.	Camden Noma II		400		192.0		28.0
		Washington, DC
	16.	Camden Andrau		601		57.0		8.0
		Houston, TX
UNDER CONTRACT
	17.	Camden Celebration		438		75.0		0.0
		Orlando, FL
	18.	Camden Countryway		348		60.0		0.0
		Tampa, FL
Subtotal Development Pipeline				5,840	$	1,495.0	$	221.5
Other (c)								12.1
Total Development Pipeline							$	233.6
							Current
LAND HELD FOR SALE AS OF DECEMBER 31, 2007 ($ in millions)					Acres		Book Value
	1.	Southeast Florida				2.2	$	7.2
	2.	Dallas				2.4		1.8
Total Land Parcels Held For Sale:						4.6	$	9.0
(a) Represents development opportunities in the early phase of the development process for which the Company either has an option to acquire land or enter into a leasehold interest, for which the Company is the buyer under a long-term conditional contract to purchase land or where the Company owns land to develop a new community.
(b) Camden Sutherland is owned in a fully consolidated joint venture, of which Camden retains a 25% ownership.
(c) Includes land holdings no longer under active development and predevelopment costs incurred in pursuit of new developments for which future development is probable.
Note: This table contains forward-looking statements. Please see the paragraph regarding forward-looking statements on page 1 of this document.

CAMDEN											REDEVELOPMENT SUMMARY
(Unaudited)
REDEVELOPMENT SUMMARY AS OF DECEMBER 31, 2007 ($ in millions)
					Homes							Estimated/Actual Dates for
			Total		Redeveloped		Total		Cost			Redevelopment		Redevelopment		Project		4Q07 Average
Communities			Homes		To Date		Budget		to Date			Start		Completion		Restabilization		% Occupied
	1.	Camden Breakers		288		260	$	1.2	$	0.8			4Q06		1Q08		2Q08		87	%
		Corpus Christi, TX
	2.	Camden Canyon		200		140		2.5		2.1			1Q07		2Q08		3Q08		94	%
		Las Vegas, NV
	3.	Camden Del Mar		560		383		7.9		6.1			1Q07		2Q08		3Q08		89	%
		Las Vegas, NV
	4.	Camden Fairways		320		220		5.3		3.9			1Q07		2Q08		3Q08		88	%
		Henderson, NV
	5.	Camden Foxcroft		156		32		1.4		0.4			4Q07		1Q09		2Q09		92	%
		Charlotte, NC
	6.	Camden Glen Lakes		424		380		7.0		6.5			4Q06		1Q08		2Q08		89	%
		Dallas, TX
	7.	Camden Providence Lakes		260		240		2.2		2.0			4Q06		1Q08		2Q08		89	%
		Brandon, FL
	8.	Camden Touchstone		132		132		1.3		1.1			4Q06		1Q08		2Q08		86	%
		Charlotte, NC
	9.	Camden Vanderbilt		894		763		8.2		6.2			4Q06		2Q08		3Q08		81	%
		Houston, TX
	10.	Camden Westshore		278		274		1.8		1.7			4Q06		1Q08		2Q08		80	%
		Tampa, FL
Total				3,512		2,824	$	38.8	$	30.8									86	%

Note:  This table contains forward-looking statements.  Please see the paragraph regarding forward-looking statements on page 1 of this document.

CAMDEN			NOTES RECEIVABLE SUMMARY
(Unaudited)
NOTES RECEIVABLE AS OF DECEMBER 31, 2007 ($ in thousands)
				12/31/07		12/31/07			09/30/07
				Total		Note			Note
Location	Current Property Type	Current Status		Homes		Balance			Balance
Irvine, CA	Multifamily	Development			290	$	20,338		$	19,636
Houston, TX	Multifamily	Development/Predevelopment			831		33,034			32,197
College Park, MD	Multifamily	Development			508		8,186			7,904
Charlotte, NC	Multifamily	Land Under Contract			-		365			-
Total Notes Receivable:					1,629	$	61,923		$	59,737
Weighted Average Interest Rate Recognized:							11.5	%		11.6	%

CAMDEN						ACQUISITIONS & DISPOSITIONS
(Unaudited)
2007 ACQUISITION/DISPOSITION ACTIVITY
Acquisitions			Location		Property Type		Apartment Homes		Year Built		Closing Date
	1.	Camden South Congress	Austin, TX		Multifamily			253	2001		04/02/07
	2.	Camden Royal Palms	Tampa, FL		Multifamily			352	2006		06/26/07
TOTAL ACQUISITION VOLUME:			$	83.9million			605 apartment homes
Dispositions			Location		Property Type		Apartment Homes		Year Built		Closing Date
	1.	Camden Taravue	St. Louis, MO		Multifamily			304	1975		05/18/07
	2.	Camden Downs	Louisville, KY		Multifamily			254	1975		06/14/07
	3.	Camden Trace	St. Louis, MO		Multifamily			372	1972		06/21/07
	4.	Camden Terrace	Ft. Worth, TX		Multifamily			340	1984		10/29/07
	5.	Camden Ridge	Ft. Worth, TX		Multifamily			208	1985		10/29/07
	6.	Camden Wendover	Greensboro, NC		Multifamily			216	1985		11/16/07
	7.	Camden Glen	Greensboro, NC		Multifamily			304	1980		11/16/07
	8.	Camden Isles	Tampa, FL		Multifamily			484		1983/1985	11/16/07
	9.	Camden Timber Creek	Charlotte, NC		Multifamily			352	1984		11/16/07
	10.	Camden Eastchase	Charlotte, NC		Multifamily			220	1986		11/16/07
	11.	Brickell View II Land	Miami, FL		Undeveloped Land		0.9 Acres			N/A	12/20/07
TOTAL DISPOSITION VOLUME:			$	176.4million			3,054 apartment homes
							0.9 acres of undeveloped land

CAMDEN							DEBT ANALYSIS
							(In thousands, except property data amounts)
(Unaudited)
DEBT MATURITIES AS OF DECEMBER 31, 2007: (a)
													Weighted Average
		Future Scheduled Repayments								Percent			Interest Rate on
	Year	Amortization		Maturities			Total			of Total			Maturing Debt
	2008	$	11,694	$	188,879		$	200,573			7.1	%		4.8	%
	2009		7,772		190,324			198,096			7.0	%		5.0	%
	2010		7,026		445,677			452,703			16.0	%		5.1	%
	2011		4,033		244,233			248,266			8.8	%		6.5	%
	2012		2,913		769,541			772,454			27.3	%		5.4	%
	2013		1,624		225,831			227,455			8.0	%		5.4	%
	Thereafter		45,919		567,629			613,548			21.7	%		5.4	%
	Total Maturing Debt	$	80,981	$	2,632,113		$	2,713,095			95.9	%		5.4	%
	Unsecured Line of Credit		0		115,000			115,000			4.1	%		5.3	%
	Total Debt	$	80,981	$	2,747,113		$	2,828,095			100.0	%		5.4	%
	Weighted Average Maturity of Debt			4.9 Years			(excluding line of credit)
										Weighted Average
FLOATING vs. FIXED RATE DEBT:				Balance			% of Total			Interest Rate
	Floating rate debt			$	172,625			6.1	%		5.0	%
	Fixed rate debt				2,655,470			93.9	%		5.4	%
	Total			$	2,828,095			100.0	%		5.4	%
										Weighted Average
SECURED vs. UNSECURED DEBT:				Balance			% of Total			Interest Rate
	Unsecured debt			$	2,265,319			80.1	%		5.5	%
	Secured debt				562,776			19.9	%		4.9	%
	Total			$	2,828,095			100.0	%		5.4	%
										Weighted Average
SECURED DEBT DETAIL:				Balance			% of Total			Interest Rate
	Conventional fixed-rate mortgage debt			$	498,787			88.6	%		4.9	%
	Tax exempt fixed rate debt				6,364			1.2	%		7.3	%
	Tax exempt variable rate debt				57,625			10.2	%		4.5	%
	Total			$	562,776			100.0	%		4.9	%
REAL ESTATE ASSETS: (b)				Total Homes			% of Total			Total Cost			% of Total
	Unencumbered real estate assets				45,550			84.0	%	$	4,516,344			81.6	%
	Encumbered real estate assets				8,701			16.0	%		1,018,071			18.4	%
	Total				54,251			100.0	%	$	5,534,415			100.0	%
			Ratio of unencumbered assets at cost to unsecured debt is2.0 times
UNCONSOLIDATED, NON-RECOURSE DEBT:
	Pro-Rata Share of Debt			$	222,278
	Weighted Average Interest Rate				6.1	%
	(a) Debt maturities exclude unsecured line of credit, which after all extensions matures in January 2011.
	(b) Real estate assets include communities under development and exclude communities held through joint ventures.

CAMDEN	DEBT COVENANT ANALYSIS
	December 31, 2007
(Unaudited)
UNSECURED LINE OF CREDIT
Covenant (a)	Required		Actual (b)	Compliance
Total Consolidated Debt to Gross Asset Value	<	60%	48%	Yes
Secured Debt to Gross Asset Value	<	40%	10%	Yes
Consolidated EBITDA to Total Fixed Charges	>	150%	212%	Yes
Unencumbered Adjusted NOI to Unsecured Interest Expense	>	200%	244%	Yes
SENIOR UNSECURED NOTES
Covenant (a)	Required		Actual (b)	Compliance
Total Consolidated Debt to Total Asset Value	<	60%	50%	Yes
Total Secured Debt to Total Asset Value	<	40%	10%	Yes
Total Unencumbered Asset Value to Total Unsecured Debt	>	150%	205%	Yes
Consolidated Income Available for Debt Service to Total	>	150%	247%	Yes
Annual Service Charges
(a) For a complete listing of all Debt Covenants related to the Company's Unsecured Line of Credit and Senior Unsecured Notes, as well as definitions
of the above terms, please refer to the Company's filings with the Securities and Exchange Commission.
(b) Defined terms used in the above covenant calculations may differ between the Unsecured Line of Credit and the Senior Unsecured Notes.

CAMDEN			CAPITALIZED EXPENDITURES
			& MAINTENANCE EXPENSE
							(In thousands, except unit data)
(Unaudited)
	Fourth Quarter 2007 (a)
	Capitalized						Expensed
	Weighted Average
Item	Useful Life (b)		Total		Per Unit		Total		Per Unit
Interiors
Floor coverings	5.4 years		$	1,653	$	31	$	926	$	18
Appliances	9.2 years			413		8		155		3
Painting		-		-		-		1,596		30
Cabinetry/Countertops	10.0 years			224		4		-		-
Other	9.4 years			913		17		523		10
Exteriors
Painting	5.0 years			209		4		-		-
Carpentry	10.0 years			79		2		-		-
Landscaping	7.2 years			585		11		2,357		45
Roofing	20.0 years			730		14		125		2
Site Drainage	10.0 years			110		2		-		-
Fencing/Stair	10.0 years			213		4		-		-
Other (c)	8.1 years			830		16		2,827		54
Common Areas
Mech., Elec., Plumbing	9.8 years			626		12		956		18
Parking/Paving	5.0 years			204		4		-		-
Pool/Exercise/Facility	8.3 years			771		15		274		5
			$	7,560	$	144	$	9,739	$	185
Weighted Average Apartment Homes						52,542				52,542
	Year-to-Date 2007(a)
	Capitalized						Expensed
	Weighted Average
Item	Useful Life (b)		Total		Per Unit		Total		Per Unit
Interiors
Floor coverings	5.4 years		$	10,868	$	205	$	3,593	$	68
Appliances	9.2 years			2,181		41		604		11
Painting		-		-		-		6,596		124
Cabinetry/Countertops	10.0 years			954		18		-		-
Other	9.4 years			2,731		51		2,168		41
Exteriors
Painting	5.0 years			3,260		61		-		-
Carpentry	10.0 years			3,425		64		-		-
Landscaping	7.2 years			3,397		64		10,425		196
Roofing	20.0 years			1,923		36		356		7
Site Drainage	10.0 years			463		9		-		-
Fencing/Stair	10.0 years			1,224		23		-		-
Other (c)	8.1 years			3,795		71		11,400		215
Common Areas
Mech., Elec., Plumbing	9.8 years			3,339		63		3,395		64
Parking/Paving	5.0 years			1,023		19		-		-
Pool/Exercise/Facility	8.3 years			4,536		85		1,348		25
			$	43,119	$	812	$	39,885	$	751
Weighted Average Apartment Homes						53,132				53,132
(a) Includes discontinued operations. Capitalized expenditures for discontinued operations were $216 and $1,823 for the three and twelve months
months ended December 31, 2007. Maintenance expenses for discontinued operations were $310 and $2,054 for the same periods.
(b) of capitalized expenses for the three months ended December 31, 2007
(c) Includes in part the following items: site/building repair, masonry/plaster, and general conditions. Costs recorded as repairs and maintenance exclude costs related to our trash removal rebilling program which were included as a component of repairs and maintenance in prior periods but are now included in utility costs during the period.

CAMDEN	2008 Financial Outlook
	as of February 7, 2008
(Unaudited)
2008 Financial Outlook
Earnings Guidance - Per Diluted Share
Expected net income per share - diluted		$	0.44 to $0.64
Expected difference between EPS and fully diluted FFO shares		$	(0.02	)
Expected real estate depreciation		$	2.94
Expected adjustments for unconsolidated joint ventures		$	0.13
Expected income allocated to common units		$	0.11
Expected FFO per share - diluted		$	3.60 to $3.80
"Same Property" Communities
Number of Units		43,528
2007 Base Net Operating Income		$324 million
Total Revenue Growth		3.50% to 4.50%
Revenue Growth excluding revenue attributable to ancillary income initiatives (a)		2.00% to 3.00%
Total Expense Growth		5.50% to 6.75%
Expense Growth excluding expenses related to ancillary income initiatives (b)		2.50% to 3.75%
Net Operating Income Growth		2.25% to 3.25%
Physical Occupancy			94.6	%
∙ Impact from 1.0% change in NOI Growth is approximately $0.05 / share
Repositioning Communities
Number of Units			3,512
2007 Base Net Operating Income		$23 million
Capital Investment to Date		$31 million
Total Expected Capital Investment		$39 million
2008 Net Operating Income Growth		8.50% to 9.00%
Acquisitions/Dispositions
Dispositions (Communities Held for Sale at 12/31/07)		$25 to $30 million
Future Dispositions Volume		$150 to $350 million
Future Acquisitions Volume (consolidated on balance sheet)		$0 million
Future Acquisitions Volume (joint venture)		$200 to $400 million
Development
Development Starts (consolidated on balance sheet)		$0 to $100 million
Development Starts (joint venture)		$200 to $400 million
2008 Projected Development FFO Dilution		$13 to $15 million
2008 Incremental Development FFO Dilution vs. 2007		$6 to $8 million
Non-Property Income
Non-Property Income, Net		$10 to $14 million
Includes: Fee and asset management income, net of expenses and
Interest and other income
Corporate Expenses
General and Administrative and Property Management Expense		$50 to $54 million
Debt
Capitalized Interest		$16 to $18 million
Expensed Interest		$130 to $134 million
LIBOR (average)			3.30	%
Note:  Please refer to pages 26 and 27 for definitions and reconciliations of all non-GAAP financial measures presented in this document.
(a) excludes revenue earned from Perfect Connection (Camden's bulk cable program), Valet Waste (Camden's door to door trash collection program), and RUBS.
(b) excludes expenses associated with Perfect Connection (Camden's bulk cable program), Valet Waste (Camden's door to door trash collection program), and Utilities.
Note:  This table contains forward-looking statements.  Please see the paragraph regarding forward-looking statements on page 1 of this document.

CAMDEN	NON-GAAP FINANCIAL MEASURES
	DEFINITIONS & RECONCILIATIONS
		(In thousands, except per share amounts)
(Unaudited)
This document contains certain non-GAAP financial measures management believes are useful in evaluating an equity REIT's performance.    Camden's
definitions and calculations of non-GAAP financial measures may differ from those used by other REITs, and thus may not be comparable.  The non-GAAP
financial measures should not be considered as an alternative to net income as an indication of our operating performance, or to net cash provided by operating
activities as a measure of our liquidity.
FFO
The National Association of Real Estate Investment Trusts (“NAREIT”) currently defines FFO as net income computed in accordance with generally accepted
accounting principles (“GAAP”), excluding gains or losses from depreciable operating property sales, plus real estate depreciation and amortization, and after
adjustments for unconsolidated partnerships and joint ventures.  Camden’s definition of diluted FFO also assumes conversion of all dilutive convertible securities,
including minority interests, which are convertible into common equity.  The Company considers FFO to be an appropriate supplemental measure of operating
performance because, by excluding gains or losses on dispositions of operating properties and excluding depreciation, FFO can help one compare the operating
performance of a company's real estate between periods or as compared to different companies.  A reconciliation of net income to FFO is provided below:

	Three Months Ended						Twelve Months Ended
	December 31,						December 31,
	2007			2006			2007			2006
Net income	$	80,976		$	31,364		$	148,457		$	232,846
Real estate depreciation and amortization from continuing operations		40,534			38,682			159,031			150,982
Real estate depreciation from discontinued operations		-			1,237			2,033			6,251
Adjustments for unconsolidated joint ventures		982			1,021			4,934			3,326
Income from continuing operations allocated to common units		1,444			1,004			4,279			15,230
Income from discontinued operations allocated to common units		8,509			253			13,517			2,307
Income tax expense on sale of depreciable operating properties		-			-			1,184			-
(Gain) loss on sale of operating properties		-			100			-			(91,481	)
(Gain) on sale of discontinued operations		(75,306	)		(18,937	)		(106,282	)		(78,823	)
(Gain) on sale of joint venture properties		-			-			-			(2,848	)
Funds from operations - diluted	$	57,139		$	54,724		$	227,153		$	237,790
Weighted average number of common and
common equivalent shares outstanding:
EPS diluted		57,613			59,738			59,125			59,524
FFO diluted		60,597			62,994			62,120			61,253
Net income per common share - diluted	$	1.41		$	0.53		$	2.51		$	3.96
FFO per common share - diluted	$	0.94		$	0.87		$	3.66		$	3.88
Expected FFO
Expected FFO is calculated in a method consistent with historical FFO, and is considered an appropriate supplemental measure of expected operating
performance when compared to expected net income (EPS). A reconciliation of the ranges provided for expected net income per diluted share to expected
FFO per diluted share is provided below:
	1Q08 Range						2008 Range
	Low			High			Low			High
Expected net income per share - diluted	$	0.08		$	0.12		$	0.44		$	0.64
Expected difference between EPS and fully diluted FFO shares		0.00			0.00			(0.02	)		(0.02	)
Expected real estate depreciation		0.73			0.73			2.94			2.94
Expected adjustments for unconsolidated joint ventures		0.04			0.04			0.13			0.13
Expected income allocated to common units		0.02			0.02			0.11			0.11
Expected (gain) on sale of properties and properties held for sale		0.00			0.00			0.00			0.00
Expected FFO per share - diluted	$	0.87		$	0.91		$	3.60		$	3.80
Note: This table contains forward-looking statements. Please see the paragraph regarding forward-looking statements on page 1 of this document.

CAMDEN	NON-GAAP FINANCIAL MEASURES
	DEFINITIONS & RECONCILIATIONS
		(In thousands, except per share amounts)

Net Operating Income (NOI)

NOI is defined by the Company as total property income less property operating and maintenance expenses less real estate taxes.  The Company considers

NOI to be an appropriate supplemental measure of operating performance to net income because it reflects the operating performance of our communities

without allocation of corporate level property management overhead or general and administrative costs.  A reconciliation of net income to net operating

income is provided below:

	Three Months Ended						Twelve Months Ended
	December 31,						December 31,
	2007			2006			2007			2006
Net income	$	80,976		$	31,364		$	148,457		$	232,846
Fee and asset management income		(1,722	)		(3,011	)		(8,293	)		(14,041	)
Sale of technology investments		-			-			(623	)		(1,602	)
Interest and other income		(4,047	)		(3,674	)		(8,804	)		(9,771	)
Income on deferred compensation plans		1,120			(5,808	)		(7,282	)		(10,116	)
Property management expense		4,437			4,669			18,413			18,490
Fee and asset management expense		1,150			1,089			4,552			9,382
General and administrative expense		8,514			12,285			32,590			37,584
Interest expense		31,475			26,633			116,281			117,862
Depreciation and amortization		41,355			39,328			162,189			153,609
Amortization of deferred financing costs		957			916			3,689			3,807
Expense on deferred compensation plans		(1,120	)		5,808			7,282			10,116
(Gain) loss on sale of properties, including land		-			104			-			(97,452	)
Impairment loss on sale of land		1,447			-			1,447			-
Equity in income of joint ventures		(454	)		(642	)		(1,526	)		(5,156	)
Distributions on perpetual preferred units		1,750			1,750			7,000			7,000
Income allocated to common units and other minority interests		1,374			1,308			4,729			15,685
Income tax expense		478			-			1,868			-
Income tax expense on sale of depreciable operating properties		-			-			1,184			-
Income from discontinued operations		(1,133	)		(2,493	)		(7,857	)		(10,864	)
Gain on sale of discontinued operations, including land		(76,063	)		(18,879	)		(107,039	)		(99,273	)
Income from discontinued operations allocated to common units		8,509			253			13,517			2,307
Net Operating Income (NOI)	$	99,003		$	91,000		$	381,774		$	360,413
"Same Property" Communities	$	79,843		$	76,075		$	314,631		$	299,443
Non-"Same Property" Communities		10,615			8,217			37,572			23,745
Development and Lease-Up Communities		1,663			106			3,747			(24	)
Redevelopment Communities		5,954			6,220			23,312			24,311
Dispositions / Other		928			382			2,512			12,938
Net Operating Income (NOI)	$	99,003		$	91,000		$	381,774		$	360,413

EBITDA

EBITDA is defined by the Company as earnings before interest, taxes, depreciation and amortization, including net operating income from discontinued

operations, excluding equity in income of joint ventures, gain on sale of real estate assets, and income allocated to minority interests. The Company

considers EBITDA to be an appropriate supplemental measure of operating performance to net income because it represents income before non-cash

depreciation and the cost of debt, and excludes gains or losses from property dispositions. A reconciliation of net income to EBITDA is provided below:

	Three Months Ended						Twelve Months Ended
	December 31,						December 31,
	2007			2006			2007			2006
Net income	$	80,976		$	31,364		$	148,457		$	232,846
Interest expense		31,591			26,752			116,753			118,344
Amortization of deferred financing costs including discontinued operations		957			916			3,689			3,813
Depreciation and amortization		41,355			39,328			162,189			153,609
Distributions on perpetual preferred units		1,750			1,750			7,000			7,000
Income allocated to common units and other minority interests		1,374			1,308			4,729			15,685
Income tax expense		478			-			1,868			-
Income tax expense on sale of depreciable operating properties		-			-			1,184			-
Real estate depreciation from discontinued operations		-			1,237			2,033			6,251
(Gain) loss on sale of properties, including land		-			104			-			(97,452	)
Impairment loss on land		1,447			-			1,447			-
Equity in income of joint ventures		(454	)		(642	)		(1,526	)		(5,156	)
Gain on sale of discontinued operations		(76,063	)		(18,879	)		(107,039	)		(99,273	)
Income from discontinued operations allocated to common units		8,509			253			13,517			2,307
EBITDA	$	91,920		$	83,491		$	354,301		$	337,974

CAMDEN		OTHER DATA
(Unaudited)
Stock Symbol:			CPT
Exchange Traded:			NYSE
Senior Unsecured Debt Ratings:				Rating	Outlook
			Standard & Poors	BBB+	Stable
			Fitch	BBB+	Stable
			Moody's	Baa1	Stable
Estimated Future Dates:				Q1 '08	Q2 '08	Q3 '08	Q4 '08
	Earnings release & conference call			Early May	Early Aug	Early Nov	Early Feb
Dividend Information - Common Shares:				Q1 '07	Q2 '07	Q3 '07	Q4 '07
	Declaration Date			03/15/07	06/15/07	09/14/07	12/07/07
	Record Date			03/30/07	06/29/07	09/28/07	12/21/07
	Payment Date			04/17/07	07/17/07	10/17/07	01/17/08
	Distributions Per Share			$0.69	$0.69	$0.69	$0.69

Investor Relations Data:
	Camden does not send quarterly reports to shareholders, but supplies 10-Q's, Earnings Releases and
	Supplemental Data upon request.
	For Investor Relations:  recent press releases, 10-Q's, 10-K's and other information, call
	1-800-9CAMDEN or (713) 354-2787.
	To access Camden's Quarterly Conference Call, please visit our web site at camdenliving.com
	For questions contact:
		Richard J. Campo	Chairman & Chief Executive Officer
		D. Keith Oden	President & Chief Operating Officer
		Dennis M. Steen	Chief Financial Officer
		Kimberly A. Callahan	Vice President- Investor Relations & Asset Management

CAMDEN			COMMUNITY TABLE
			Community Statistics as of 12/31/07
(Unaudited)										4Q07 Avg
						Year Placed	Average	Apartment	4Q07 Avg	Market Rental Rates
Community Name				City	State	in Service	Size	Homes	Occupancy	Per Home	Per Sq. Ft.
	Camden Copper Square			Phoenix	AZ	2000	786	332	93%	873	1.11
	Camden Fountain Palms (1)			Peoria	AZ	1986/1996	1,050	192	92%	827	0.79
	Camden Legacy			Scottsdale	AZ	1996	1,067	428	94%	1,008	0.94
	Camden Pecos Ranch (1)			Chandler	AZ	2001	924	272	95%	867	0.94
	Camden San Paloma			Scottsdale	AZ	1993/1994	1,042	324	96%	1,042	1.00
	Camden Sierra (1)			Peoria	AZ	1997	925	288	93%	789	0.85
	Camden Towne Center (1)			Glendale	AZ	1998	871	240	92%	804	0.92
	Camden Vista Valley			Mesa	AZ	1986	923	357	92%	750	0.81
		TOTAL ARIZONA		8	Properties		951	2,433	93%	880	0.93
	Camden Crown Valley			Mission Viejo	CA	2001	1,009	380	95%	1,647	1.63
	Camden Harbor View			Long Beach	CA	2004	976	538	95%	2,035	2.09
	Camden Martinique			Costa Mesa	CA	1986	795	714	93%	1,399	1.76
	Camden Parkside (1)			Fullerton	CA	1972	836	421	94%	1,293	1.55
	Camden Sea Palms			Costa Mesa	CA	1990	891	138	93%	1,577	1.77
		Total Los Angeles/Orange County		5	Properties		890	2,191	94%	1,589	1.78
	Camden Old Creek (2)			San Marcos	CA	2007	1,036	350	Lease-up	1,495	1.44
	Camden Sierra at Otay Ranch			Chula Vista	CA	2003	962	422	95%	1,508	1.57
	Camden Tuscany			San Diego	CA	2003	891	160	96%	1,944	2.18
	Camden Vineyards			Murrieta	CA	2002	1,053	264	94%	1,294	1.23
		Total San Diego/Inland Empire		4	Properties		994	1,196	95%	1,515	1.52
		TOTAL CALIFORNIA		9	Properties		927	3,387	94%	1,563	1.69
	Camden Arbors			Westminster	CO	1986	792	358	93%	722	0.91
	Camden Caley			Englewood	CO	2000	925	218	96%	850	0.92
	Camden Centennial			Littleton	CO	1985	744	276	96%	697	0.94
	Camden Denver West (1)			Golden	CO	1997	1,015	320	97%	1,044	1.03
	Camden Highlands Ridge			Highlands Ranch	CO	1996	1,149	342	96%	1,096	0.95
	Camden Interlocken			Broomfield	CO	1999	1,022	340	96%	1,049	1.03
	Camden Lakeway			Littleton	CO	1997	932	451	96%	905	0.97
	Camden Pinnacle (3)			Westminster	CO	1985	748	224	93%	655	0.88
		TOTAL COLORADO		8	Properties		927	2,529	96%	892	0.96
	Camden Ashburn Farms			Ashburn	VA	2000	1,061	162	94%	1,320	1.24
	Camden Clearbrook			Frederick	MD	2007	1,049	297	93%	1,310	1.25
	Camden Fair Lakes			Fairfax	VA	1999	996	530	94%	1,450	1.46
	Camden Fairfax Corner			Fairfax	VA	2006	934	488	95%	1,542	1.65
	Camden Fallsgrove			Rockville	MD	2004	996	268	96%	1,509	1.51
	Camden Grand Parc			Washington	DC	2002	904	105	94%	2,203	2.44
	Camden Lansdowne			Leesburg	VA	2002	1,006	690	94%	1,283	1.28
	Camden Largo Town Center			Largo	MD	2000/2007	1,028	245	93%	1,603	1.56
	Camden Monument Place (2)			Fairfax	VA	2007	865	368	Lease-up	1,391	1.61
	Camden Roosevelt			Washington	DC	2003	856	198	97%	2,174	2.54
	Camden Russett			Laurel	MD	2000	1,025	426	95%	1,317	1.28
	Camden Silo Creek			Washington	DC	2004	971	284	95%	1,255	1.29
	Camden Westwind			Ashburn	VA	2006	1,036	464	92%	1,283	1.24
		TOTAL DC METRO		13	Properties		985	4,525	94%	1,435	1.46
	Camden Aventura			Aventura	FL	1995	1,106	379	94%	1,425	1.29
	Camden Brickell			Miami	FL	2003	937	405	97%	1,508	1.61
	Camden Doral			Miami	FL	1999	1,172	260	93%	1,509	1.29
	Camden Doral Villas			Miami	FL	2000	1,253	232	97%	1,554	1.24
	Camden Las Olas			Ft. Lauderdale	FL	2004	1,043	420	92%	1,672	1.60
	Camden Plantation			Plantation	FL	1997	1,152	502	93%	1,362	1.18
	Camden Portofino			Pembroke Pines	FL	1995	1,307	322	96%	1,326	1.01
		Total Southeast Florida		7	Properties		1,124	2,520	94%	1,475	1.31
	Camden Club			Longwood	FL	1986	1,077	436	94%	912	0.85
	Camden Hunter's Creek			Orlando	FL	2000	1,082	270	97%	991	0.92
	Camden Lago Vista			Orlando	FL	2005	954	366	94%	968	1.02
	Camden Landings			Orlando	FL	1983	748	220	93%	749	1.00
	Camden Lee Vista			Orlando	FL	2000	937	492	92%	883	0.94
	Camden Renaissance			Altamonte Springs	FL	1996/1998	899	578	92%	883	0.98
	Camden Reserve			Orlando	FL	1990/1991	824	526	92%	804	0.97
	Camden World Gateway			Orlando	FL	2000	979	408	90%	1,009	1.03
		Total Orlando		8	Properties		937	3,296	93%	899	0.96

CAMDEN	COMMUNITY TABLE
	Community Statistics as of 12/31/07
(Unaudited)								4Q07 Avg
				Year Placed	Average	Apartment	4Q07 Avg	Market Rental Rates
Community Name		City	State	in Service	Size	Homes	Occupancy	Per Home	Per Sq. Ft.

Camden Bay		Tampa	FL	1997/2001	943	760	92%	847	0.90
Camden Bay Pointe		Tampa	FL	1984	771	368	93%	732	0.95
Camden Bayside		Tampa	FL	1987/1989	748	832	94%	769	1.03
Camden Citrus Park		Tampa	FL	1985	704	247	93%	710	1.01
Camden Lakes		St. Petersburg	FL	1982/1983	728	688	93%	729	1.00
Camden Lakeside		Brandon	FL	1986	728	228	92%	767	1.05
Camden Live Oaks		Tampa	FL	1990	1,093	770	94%	809	0.74
Camden Preserve		Tampa	FL	1996	942	276	95%	1,096	1.16
Camden Providence Lakes (4)		Brandon	FL	1996	1,024	260	89%	922	0.90
Camden Royal Palms		Brandon	FL	2006	1,017	352	84%	993	0.98
Camden Westshore (4)		Tampa	FL	1986	728	278	80%	826	1.13
Camden Woods		Tampa	FL	1986	1,223	444	94%	860	0.70
	Total Tampa/St. Petersburg	12	Properties		897	5,503	93%	823	0.92
	TOTAL FLORIDA	27	Properties		959	11,319	93%	991	1.03
Camden Brookwood		Atlanta	GA	2002	906	359	94%	1,002	1.11
Camden Dunwoody		Atlanta	GA	1997	1,007	324	96%	940	0.93
Camden Deerfield		Alpharetta	GA	2000	1,187	292	94%	947	0.80
Camden Midtown Atlanta		Atlanta	GA	2001	953	296	95%	1,036	1.09
Camden Peachtree City		Peachtree City	GA	2001	1,026	399	96%	878	0.86
Camden River		Duluth	GA	1997	1,103	352	95%	901	0.82
Camden Shiloh		Kennesaw	GA	1999/2002	1,151	232	92%	850	0.74
Camden St. Clair		Atlanta	GA	1997	969	336	94%	958	0.99
Camden Stockbridge		Stockbridge	GA	2003	1,009	304	93%	766	0.76
Camden Sweetwater		Lawrenceville	GA	2000	1,151	308	92%	813	0.71
	TOTAL GEORGIA	10	Properties		1,041	3,202	94%	911	0.88
Camden Brookside (1)		Louisville	KY	1987	732	224	96%	622	0.85
Camden Meadows (1)		Louisville	KY	1987/1990	746	400	96%	656	0.88
Camden Oxmoor (1)		Louisville	KY	2000	903	432	95%	791	0.88
Camden Prospect Park (1)		Louisville	KY	1990	916	138	89%	737	0.80
	TOTAL KENTUCKY	4	Properties		820	1,194	95%	708	0.86
Camden Passage (1)		Kansas City	MO	1989/1997	832	596	94%	682	0.82
	Total Kansas City	1	Property		832	596	94%	682	0.82
Camden Cedar Lakes (1)		Lake St. Louis	MO	1986	852	420	91%	646	0.76
Camden Cove West (1)		Creve Coeur	MO	1990	828	276	97%	849	1.03
Camden Cross Creek (1)		St. Louis	MO	1973/1980	947	591	96%	750	0.79
Camden Westchase (1)		St. Louis	MO	1986	945	160	96%	814	0.86
	Total St. Louis	4	Properties		896	1,447	95%	746	0.83
	TOTAL MISSOURI	5	Properties		878	2,043	94%	727	0.83
Camden Bel Air		Las Vegas	NV	1988/1995	943	528	91%	884	0.94
Camden Breeze		Las Vegas	NV	1989	846	320	94%	849	1.00
Camden Canyon (4)		Las Vegas	NV	1995	987	200	94%	976	0.99
Camden Commons		Henderson	NV	1988	936	376	93%	912	0.97
Camden Cove		Las Vegas	NV	1990	898	124	97%	863	0.96
Camden Del Mar (4)		Las Vegas	NV	1995	986	560	88%	1,054	1.07
Camden Fairways (4)		Henderson	NV	1989	896	320	88%	1,000	1.12
Camden Hills		Las Vegas	NV	1991	579	184	97%	633	1.09
Camden Legends		Henderson	NV	1994	792	113	90%	923	1.17
Camden Palisades		Las Vegas	NV	1991	905	624	93%	898	0.99
Camden Pines (1)		Las Vegas	NV	1997	1,005	315	96%	935	0.93
Camden Pointe		Las Vegas	NV	1996	985	252	96%	914	0.93
Camden Summit (1)		Henderson	NV	1995	1,187	234	96%	1,218	1.03
Camden Tiara (1)		Las Vegas	NV	1996	1,043	400	95%	988	0.95
Camden Vintage		Las Vegas	NV	1994	978	368	92%	864	0.88
Oasis Bay (1)		Las Vegas	NV	1990	876	128	94%	860	0.98
Oasis Crossing (1)		Las Vegas	NV	1996	983	72	95%	878	0.89

CAMDEN	COMMUNITY TABLE
	Community Statistics as of 12/31/07
(Unaudited)								4Q07 Avg
				Year Placed	Average	Apartment	4Q07 Avg	Market Rental Rates
Community Name		City	State	in Service	Size	Homes	Occupancy	Per Home	Per Sq. Ft.

Oasis Emerald (1)		Las Vegas	NV	1988	873	132	96%	769	0.88
Oasis Gateway (1)		Las Vegas	NV	1997	1,146	360	94%	950	0.83
Oasis Island (1)		Las Vegas	NV	1990	901	118	91%	755	0.84
Oasis Landing (1)		Las Vegas	NV	1990	938	144	94%	807	0.86
Oasis Meadows (1)		Las Vegas	NV	1996	1,031	383	95%	888	0.86
Oasis Palms (1)		Las Vegas	NV	1989	880	208	92%	799	0.91
Oasis Pearl (1)		Las Vegas	NV	1989	930	90	96%	786	0.84
Oasis Place (1)		Las Vegas	NV	1992	440	240	97%	586	1.33
Oasis Ridge (1)		Las Vegas	NV	1984	391	477	92%	539	1.38
Oasis Sands		Las Vegas	NV	1994	1,125	48	94%	872	0.77
Oasis Sierra (1)		Las Vegas	NV	1998	922	208	95%	929	1.01
Oasis Springs (1)		Las Vegas	NV	1988	838	304	94%	747	0.89
Oasis Vinings (1)		Las Vegas	NV	1994	1,152	234	89%	860	0.75
	TOTAL NEVADA	30	Properties		908	8,064	94%	875	0.96
Camden Ballantyne		Charlotte	NC	1998	1,053	400	94%	896	0.85
Camden Cotton Mills		Charlotte	NC	2002	906	180	96%	1,288	1.42
Camden Dilworth		Charlotte	NC	2006	857	145	96%	1,249	1.46
Camden Fairview		Charlotte	NC	1983	1,036	135	93%	848	0.82
Camden Forest		Charlotte	NC	1989	703	208	93%	620	0.88
Camden Foxcroft (4)		Charlotte	NC	1979	940	156	92%	746	0.79
Camden Grandview		Charlotte	NC	2000	1,145	266	93%	1,422	1.24
Camden Habersham		Charlotte	NC	1986	773	240	95%	668	0.86
Camden Park Commons		Charlotte	NC	1997	859	232	94%	728	0.85
Camden Pinehurst		Charlotte	NC	1967	1,147	407	94%	801	0.70
Camden Sedgebrook		Charlotte	NC	1999	1,017	368	92%	830	0.82
Camden Simsbury		Charlotte	NC	1985	874	100	96%	763	0.87
Camden South End Square		Charlotte	NC	2003	883	299	94%	1,152	1.30
Camden Stonecrest		Charlotte	NC	2001	1,169	306	93%	952	0.81
Camden Touchstone (4)		Charlotte	NC	1986	899	132	86%	759	0.84
	Total Charlotte	15	Properties		979	3,574	94%	918	0.94
Camden Crest		Raleigh	NC	2001	1,129	438	94%	789	0.70
Camden Governor's Village		Chapel Hill	NC	1999	1,134	242	91%	855	0.75
Camden Lake Pine		Apex	NC	1999	1,075	446	91%	815	0.76
Camden Manor Park		Raleigh	NC	2006	966	484	93%	851	0.88
Camden Overlook		Raleigh	NC	2001	1,056	320	95%	863	0.82
Camden Reunion Park		Apex	NC	2000/2004	972	420	90%	678	0.70
Camden Westwood		Morrisville	NC	1999	1,112	354	93%	768	0.69
	Total Raleigh	7	Properties		1,056	2,704	93%	799	0.76
	TOTAL NORTH CAROLINA	22	Properties		1,012	6,278	93%	867	0.86
Camden Valleybrook		Chadds Ford	PA	2002	992	352	95%	1,288	1.30
	TOTAL PENNSYLVANIA	1	Property		992	352	95%	1,288	1.30
Camden Briar Oaks		Austin	TX	1980	711	430	92%	611	0.86
Camden Gaines Ranch		Austin	TX	1997	955	390	94%	980	1.03
Camden Huntingdon		Austin	TX	1995	903	398	96%	764	0.85
Camden Laurel Ridge		Austin	TX	1986	702	183	93%	611	0.87
Camden Ridgecrest		Austin	TX	1995	851	284	93%	686	0.81
Camden Ridgeview (3)		Austin	TX	1984	859	167	95%	633	0.74
Camden South Congress		Austin	TX	2001	975	253	93%	1,440	1.48
Camden Stoneleigh		Austin	TX	2001	908	390	95%	862	0.95
Camden Woodview		Austin	TX	1984	644	283	93%	647	1.00
	Total Austin	9	Properties		840	2,778	94%	808	0.96
Camden Breakers (4)		Corpus Christi	TX	1996	868	288	87%	880	1.01
Camden Copper Ridge		Corpus Christi	TX	1986	775	344	90%	643	0.83
Camden Miramar (5)		Corpus Christi	TX	1994-2004	468	778	88%	869	1.86
	Total Corpus Christi	3	Properties		625	1,410	90%	816	1.31

CAMDEN	COMMUNITY TABLE
	Community Statistics as of 12/31/07
(Unaudited)								4Q07 Avg
				Year Placed	Average	Apartment	4Q07 Avg	Market Rental Rates
Community Name		City	State	in Service	Size	Homes	Occupancy	Per Home	Per Sq. Ft.

	Camden Addison (1)		Addison	TX	1996	942	456	94%	825	0.88
	Camden Buckingham		Richardson	TX	1997	919	464	94%	796	0.87
	Camden Centreport		Ft. Worth	TX	1997	910	268	95%	776	0.85
	Camden Cimarron		Irving	TX	1992	772	286	94%	768	1.00
	Camden Farmers Market		Dallas	TX	2001/2005	933	904	95%	924	0.99
	Camden Gardens		Dallas	TX	1983	652	256	94%	538	0.83
	Camden Glen Lakes (4)		Dallas	TX	1979	877	424	89%	759	0.87
	Camden Lakeview		Irving	TX	1985	853	476	92%	621	0.73
	Camden Legacy Creek		Plano	TX	1995	831	240	95%	809	0.97
	Camden Legacy Park		Plano	TX	1996	871	276	96%	830	0.95
	Camden Oasis		Euless	TX	1986	548	602	77%	537	0.98
	Camden Place		Mesquite	TX	1984	772	442	92%	582	0.75
	Camden Springs		Dallas	TX	1987	713	304	94%	570	0.80
	Camden Towne Village		Mesquite	TX	1983	735	188	93%	624	0.85
	Camden Valley Creek		Irving	TX	1984	855	380	93%	648	0.76
	Camden Valley Park		Irving	TX	1986	743	516	94%	631	0.85
	Camden Valley Ridge		Irving	TX	1987	773	408	92%	590	0.76
	Camden Westview		Lewisville	TX	1983	697	335	96%	596	0.86
		Total Dallas/Ft. Worth	18	Properties		807	7,225	93%	702	0.87
	Camden Baytown		Baytown	TX	1999	844	272	95%	824	0.98
	Camden City Centre (2)		Houston	TX	2007	932	379	Lease-up	1,378	1.48
	Camden Creek		Houston	TX	1984	639	456	92%	580	0.91
	Camden Greenway		Houston	TX	1999	861	756	96%	975	1.13
	Camden Holly Springs (1)		Houston	TX	1999	934	548	95%	908	0.97
	Camden Midtown		Houston	TX	1999	843	337	98%	1,140	1.35
	Camden Oak Crest		Houston	TX	2003	870	364	96%	818	0.94
	Camden Park (1)		Houston	TX	1995	866	288	95%	780	0.90
	Camden Plaza (1)(2)		Houston	TX	2007	915	271	Lease-up	1,337	1.46
	Camden Royal Oaks (2)		Houston	TX	2006	923	236	Lease-up	1,048	1.14
	Camden Steeplechase		Houston	TX	1982	748	290	91%	629	0.84
	Camden Stonebridge		Houston	TX	1993	845	204	97%	803	0.95
	Camden Sugar Grove (1)		Stafford	TX	1997	917	380	93%	847	0.92
	Camden Vanderbilt (4)		Houston	TX	1996/1997	863	894	81%	1,110	1.29
	Camden West Oaks		Houston	TX	1982	726	671	93%	575	0.79
		Total Houston	15	Properties		843	6,346	95%	915	1.09
		TOTAL TEXAS	45	Properties		811	17,759	93%	804	0.99
TOTAL PROPERTIES			182	Properties		914	63,085	94%	949	1.04
(1)	Communities owned through investment in joint venture.
(2)	Completed communities in lease-up as of December 31, 2007 are excluded from total occupancy numbers.
(3)	Communities held for sale as of December 31, 2007.
(4)	Communities under redevelopment as of December 31, 2007 are excluded from total occupancy numbers.
(5)	Miramar is a student housing community which is excluded from total occupancy numbers.