Camden Property Trust (CPT) 8-K Camden Property Trust Announces First Quarter 2008 Operating Results

EXHIBIT 99.2

FIRST QUARTER 2008

Supplemental Operating and Financial Data

Camden City Centre - Houston, TX

379 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	8
Funds from Operations	10
Balance Sheets	11
Portfolio Statistics	13
Components of Property Net Operating Income	15
"Same Property" First Quarter Comparisons	17
"Same Property" Sequential Quarter Comparisons	17
Joint Venture Operations	19
Current Development Pipeline	21
Joint Venture Development Pipeline	23
Future Development Pipeline & Land Held for Sale	25
Redevelopment Summary	27
Notes Receivable Summary	28
Acquisitions & Dispositions	29
Debt Analysis	30
Debt Covenant Analysis	32
Capitalized Expenditures & Maintenance Expense	33
Non-GAAP Financial Measures - Definitions & Reconciliations	34
Other Data	38
Community Table	39

Camden Property Trust Announces First Quarter 2008 Operating Results

HOUSTON--(BUSINESS WIRE)--Camden Property Trust (NYSE:CPT) announced that its funds from operations (“FFO”) for the first quarter of 2008 totaled $0.89 per diluted share or $52.3 million, as compared to $0.89 per diluted share or $55.9 million for the same period in 2007. The Company reported net income (“EPS”) of $14.9 million or $0.27 per diluted share for the first quarter of 2008, as compared to $13.0 million or $0.22 per diluted share for the same period in 2007. EPS for the three months ended March 31, 2008 included a $0.13 per diluted share impact from gain on sale of properties, including discontinued operations. A reconciliation of net income to FFO is included in the financial tables accompanying this press release.

Same-Property Results

For the 43,480 apartment homes included in consolidated same-property results, first quarter 2008 same-property net operating income (“NOI”) increased 1.4% compared to the first quarter of 2007, with revenues increasing 1.5% and expenses increasing 1.6%. On a sequential basis, first quarter 2008 same-property NOI declined 1.2% compared to the fourth quarter of 2007, with revenues increasing 0.5% and expenses increasing 3.5% compared to the prior quarter. Same-property physical occupancy levels for the portfolio averaged 93.8% during the first quarter of 2008, compared to 94.5% in the first quarter of 2007 and 93.6% in the fourth quarter of 2007.

The Company defines same-property communities as communities owned and stabilized as of January 1, 2007, 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

During the first quarter, lease-up was completed at Camden Old Creek in San Marcos, CA, a $92.2 million project that is currently 94% occupied. As of March 31, 2008, Camden had three wholly-owned apartment communities which were completed and in lease-up: Camden Royal Oaks in Houston, TX, a $21.0 million project that is currently 86% leased; Camden Monument Place in Fairfax, VA, a $62.4 million project that is currently 88% leased; and Camden City Centre in Houston, TX, a $51.6 million project that is currently 77% leased. The Company also had one joint venture community which was completed and in lease-up: Camden Plaza in Houston, TX, a $40.8 million project that is currently 80% leased.

The Company has eight additional communities currently under construction and in lease-up: Camden Potomac Yard in Arlington, VA, a $110.0 million project that is currently 34% leased; Camden Summerfield in Landover, MD, a $68.0 million project that is currently 36% leased; Camden Orange Court in Orlando, FL, a $49.0 million project that is currently 14% leased; Camden Dulles Station in Oak Hill, VA, a $77.0 million project that is currently 9% leased; Camden Cedar Hills in Austin, TX, a $27.0 million project that is currently 3% leased; Camden Whispering Oaks in Houston, TX, a $30.0 million project that is currently 3% leased; Camden College Park in College Park, MD, a $139.9 million joint venture project that is currently 32% leased; and Camden Main & Jamboree in Irvine, CA, a $115.0 million joint venture project that is currently 27% leased.

Camden’s current development pipeline under construction includes six wholly-owned communities comprising 1,778 apartment homes with a total budgeted cost of $361.0 million. The Company also has five joint venture communities under construction comprising 1,605 apartment homes with a total budgeted cost of $376.7 million.

Camden’s future development pipeline currently consists of 18 potential developments comprising 5,855 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 Camden Ridgeview, a 167-home apartment community in Austin, TX for $10.6 million, resulting in a gain on sale of $6.1 million. The Company also sold 4,100 square feet of retail space adjacent to its regional office in Las Vegas for $1.4 million, resulting in a gain on sale of $1.1 million.

Properties and Land Held for Sale

At March 31, 2008, Camden had two operating communities consisting of 272 apartment homes held for sale: Camden Pinnacle, a 224-home apartment community in Denver, CO; and Oasis Sands, a 48-home apartment community in Las Vegas, NV.

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 first quarter of 2008, Camden repurchased 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.

Earnings Guidance

Camden’s earnings guidance for 2008 is 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 $0.57 to $0.77 per diluted share. Second 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. A reconciliation of expected net income to expected FFO is included in the financial tables accompanying this press release.

Conference Call

The Company will hold a conference call on Friday, May 2, 2008 at 10:00 a.m. Central Time to review its first quarter 2008 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 First Quarter 2008 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.

Annual Meeting of Shareholders

Camden’s Annual Meeting of Shareholders will be held on May 6, 2008 at the Renaissance Hotel, 6 East Greenway Plaza, Houston, Texas, at 1:30 p.m., Central Standard Time. The Company’s proxy statement, 10-K, and Annual Report to Shareholders are available in the Investor Relations section of the company’s website at www.camdenliving.com. If you wish to receive hard copies of these documents, please contact Camden’s Investor Relations Department at ir@camdenliving.com.

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, an S&P 400 Company, is a real estate company engaged in the ownership, development, acquisition, management and disposition of multifamily apartment communities. Camden owns interests in and operates 181 properties containing 62,918 apartment homes across the United States. Upon completion of 11 properties under development, the Company’s portfolio will increase to 66,301 apartment homes in 192 properties. Camden was recently named to FORTUNE® Magazine’s list of the “100 Best Companies to Work For.”

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 March 31,
			2008				2007
Total property revenues (a)		$	156,723			$	147,676
EBITDA			87,340				86,159
Net income			14,915				13,037
Per share - basic			0.27				0.22
Per share - diluted			0.27				0.22
Income from continuing operations			8,560				11,121
per share - basic			0.16				0.19
per share - diluted			0.16				0.19
Funds from operations			52,330				55,919
Per share - diluted			0.89				0.89
Dividends per share			0.70				0.69
Dividend payout ratio			78.7	%			77.5	%
Interest expensed (including discontinued operations)			32,775				27,911
Interest capitalized			5,360				5,136
Total interest incurred			38,135				33,047
Principal amortization			3,280				3,535
Preferred dividends & distributions			1,750				1,750
Interest expense coverage ratio			2.7		x		3.1		x
Total interest coverage ratio			2.3		x		2.6		x
Fixed charge expense coverage ratio			2.3		x		2.6		x
Total fixed charge coverage ratio			2.0		x		2.2		x
Same property NOI increase (b)			1.4	%			5.5	%
(# of apartment homes included)			43,480				44,604
Gross turnover of apartment homes (annualized)			60	%			59	%
Net turnover (excludes on-site transfers and transfers to other Camden communities)			53	%			52	%
		As of March 31,
			2008				2007
Total assets		$	4,892,116			$	4,679,880
Total debt		$	2,910,958			$	2,466,596
Common and common equivalent shares, outstanding end of period (c)			58,611				63,000
Share price, end of period		$	50.20			$	70.31
Preferred units, end of period		$	97,925			$	97,925
Book equity value, end of period (d)		$	1,682,851			$	1,930,941
Market equity value, end of period (d)		$	3,042,272			$	4,529,530
Debt to total market capitalization ratio			48.9	%			35.3	%
Unencumbered real estate assets (at cost)
to unsecured debt ratio			194	%			225	%
(a) Excludes discontinued operations.
(b) "Same Property" Communities are communities which were owned by the Company and stabilized as of January 1, 2007, excluding properties held for sale and communities under redevelopment.
(c) Includes at March 31, 2008: 55,525 common shares (including 184 common share equivalents related to share awards & options), plus common share equivalents upon the assumed conversion of minority interest units (3,086)
(d) Includes: common shares, preferred and common units, and common share equivalents
Note: Please refer to pages 24 and 25 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
	March 31,
OPERATING DATA	2008			2007
Property revenues
Rental revenues	$	138,793		$	133,036
Other property revenues		17,930			14,640
Total property revenues		156,723			147,676
Property expenses
Property operating and maintenance		40,985			38,589
Real estate taxes		17,917			16,049
Total property expenses		58,902			54,638
Non-property income
Fee and asset management income		2,412			2,386
Interest and other income		1,333			1,562
Income on deferred compensation plans		(8,541	)		2,306
Total non-property income		(4,796	)		6,254
Other expenses
Property management		4,900			4,728
Fee and asset management		1,725			1,620
General and administrative		7,960			8,054
Interest		32,661			27,790
Depreciation and amortization		42,785			39,053
Amortization of deferred financing costs		742			913
Expense on deferred compensation plans		(8,541	)		2,306
Total other expenses		82,232			84,464
Income from continuing operations before gain on sale of properties,
equity in income of joint ventures, minority interests and income taxes		10,793			14,828
Gain on sale of properties, including land		1,106			-
Equity in income (loss) of joint ventures		(47	)		735
Minority interests
Distributions on perpetual preferred units		(1,750	)		(1,750	)
Income allocated to common units and other minority interests		(1,269	)		(787	)
Income from continuing operations before income taxes		8,833			13,026
Income tax expense		(273	)		(1,905	)
Income from continuing operations		8,560			11,121
Income from discontinued operations		228			2,186
Gain on sale of discontinued operations		6,127			-
Income from discontinued operations allocated to common units		-			(270	)
Net income	$	14,915		$	13,037
PER SHARE DATA
Net income - basic	$	0.27		$	0.22
Net income - diluted		0.27			0.22
Income from continuing operations - basic		0.16			0.19
Income from continuing operations - diluted		0.16			0.19
Weighted average number of common and
common equivalent shares outstanding:
Basic		54,965			58,813
Diluted		55,625			59,994
PROPERTY DATA
Total operating properties (end of period) (a)		181			187
Total operating apartment homes in operating properties (end of period) (a)		62,918			64,516
Total operating apartment homes (weighted average)		51,763			53,097
Total operating apartment homes - excluding discontinued operations (weighted average)		51,380			49,604
(a) Includes joint ventures and properties held for sale.
Note: Please refer to pages 24 and 25 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
	March 31,
FUNDS FROM OPERATIONS	2008			2007
Net income	$	14,915		$	13,037
Real estate depreciation and amortization from continuing operations		41,921			38,338
Real estate depreciation from discontinued operations		17			1,268
Adjustments for unconsolidated joint ventures		1,539			1,086
Income from continuing operations allocated to common units		1,156			736
Income from discontinued operations allocated to common units		-			270
(Gain) loss on sale of operating properties, net of taxes		(1,106	)		1,184
(Gain) on sale of discontinued operations		(6,112	)		-
Funds from operations - diluted	$	52,330		$	55,919
PER SHARE DATA
Funds from operations - diluted	$	0.89		$	0.89
Cash distributions		0.70			0.69
Weighted average number of common and
common equivalent shares outstanding:
FFO - diluted		58,544			63,021
PROPERTY DATA
Total operating properties (end of period) (a)		181			187
Total operating apartment homes in operating properties (end of period) (a)		62,918			64,516
Total operating apartment homes (weighted average)		51,763			53,097
Total operating apartment homes - excluding discontinued operations (weighted average)		51,380			49,604
(a) Includes joint ventures and properties held for sale.
Note:  Please refer to pages 24 and 25 for definitions and reconciliations of all non-GAAP financial measures presented in this document.

CAMDEN										BALANCE SHEETS
										(In thousands)
(Unaudited)	Mar 31,			Dec 31,			Sep 30,			Jun 30,			Mar 31,
	2008			2007			2007			2007			2007
ASSETS
Real estate assets, at cost
Land	$	749,664		$	730,548		$	714,044		$	713,084		$	703,850
Buildings and improvements		4,435,787			4,316,472			4,215,662			4,144,075			4,108,955
		5,185,451			5,047,020			4,929,706			4,857,159			4,812,805
Accumulated depreciation		(907,643	)		(868,074	)		(827,944	)		(788,318	)		(799,624	)
Net operating real estate assets		4,277,808			4,178,946			4,101,762			4,068,841			4,013,181
Properties under development, including land		358,994			446,664			488,620			454,617			410,002
Investments in joint ventures		12,526			8,466			12,243			12,722			8,321
Properties held for sale, including land		23,299			25,253			73,325			72,577			32,879
Total real estate assets		4,672,627			4,659,329			4,675,950			4,608,757			4,464,383
Accounts receivable - affiliates		36,166			35,940			36,171			35,341			34,854
Notes receivable
Affiliates		52,331			50,358			48,172			45,560			43,507
Other		8,710			11,565			11,565			11,565			11,565
Other assets, net (a)		116,010			126,996			129,810			136,524			118,329
Cash and cash equivalents		947			897			1,207			3,058			1,470
Restricted cash		5,325			5,675			5,904			20,053			5,772
Total assets	$	4,892,116		$	4,890,760		$	4,908,779		$	4,860,858		$	4,679,880
LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities
Notes payable
Unsecured	$	2,351,006		$	2,265,319		$	2,198,628		$	2,065,175		$	1,897,865
Secured		559,952			562,776			565,564			566,001			568,731
Accounts payable and accrued expenses		90,779			107,403			110,643			128,892			110,486
Accrued real estate taxes		17,769			24,943			42,151			29,785			16,036
Other liabilities (b)		146,817			136,365			117,317			115,547			110,684
Distributions payable		42,942			42,689			44,180			44,982			45,137
Total liabilities		3,209,265			3,139,495			3,078,483			2,950,382			2,748,939
Commitments and contingencies
Minority interests
Perpetual preferred units		97,925			97,925			97,925			97,925			97,925
Common units		97,416			111,624			104,176			105,353			102,217
Other minority interests		8,537			10,403			10,740			10,916			10,335
Total minority interests		203,878			219,952			212,841			214,194			210,477
Shareholders' equity
Common shares of beneficial interest		660			654			654			654			654
Additional paid-in capital		2,227,256			2,209,631			2,207,333			2,204,525			2,199,713
Distributions in excess of net income		(250,845	)		(227,025	)		(269,667	)		(241,711	)		(243,786	)
Employee notes receivable		(306	)		(1,950	)		(1,963	)		(1,976	)		(2,025	)
Treasury shares, at cost		(463,574	)		(433,874	)		(318,902	)		(265,210	)		(234,092	)
Other comprehensive loss (c)		(34,218	)		(16,123	)		-			-			-
Total shareholders' equity		1,478,973			1,531,313			1,617,455			1,696,282			1,720,464
Total liabilities and shareholders' equity	$	4,892,116		$	4,890,760		$	4,908,779		$	4,860,858		$	4,679,880
(a) includes:
net deferred charges of:	$	10,287		$	10,811		$	10,308		$	11,565		$	9,724
value of in place leases of:	$	62		$	258		$	703		$	1,091		$	61
(b) includes:
deferred revenues of:	$	2,575		$	2,459		$	2,738		$	2,937		$	3,321
above/below market leases of:		($6	)		($13	)	$	25		$	43		$	8
distributions in excess of investments in joint ventures of:	$	25,065		$	23,653		$	20,867		$	19,549		$	18,805
fair value adjustment of derivative instrument:	$	34,218		$	16,123			-			-			-
(c) Represents the fair value adjustment of the derivative instrument.

CAMDEN																PORTFOLIO STATISTICS
(Unaudited)
COMMUNITY PORTFOLIO AT MARCH 31, 2008 (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		2,889		1,128		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		350		1,196		-	1,196		-		1,196			-		1,196
	Tampa, FL		4,613		890		5,503		-	5,503		-		5,503			-		5,503
	Dallas, TX		6,345		424		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		3,286		288		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 (f)		2,358		253		2,611		-	2,611		-		2,611			556		3,167
	Other		696		1,066		1,762		3,237	4,999		-		4,999			-		4,999
		Total Portfolio	43,480		7,495		50,975		10,689	61,664		1,254		62,918			3,383		66,301
	(a) Includes ten redevelopment properties (3,512 apartment homes) and two properties held for sale and reported in discontinued operations (272 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.
	(f) 348 units under development in Austin, TX are held through a joint venture investment.
FIRST QUARTER NOI CONTRIBUTION PERCENTAGE BY REGION										WEIGHTED AVERAGE OCCUPANCY FOR THE QUARTER ENDED: (h)
			"Same Property"		Operating		Incl. JVs at			Mar 31		Dec 31		Sep 30			Jun 30		Mar 31
			Communities		Communities (f)		Pro Rata % (g)			2008		2007		2007			2007		2007
	D.C. Metro		10.4	%	14.3	%	13.8	%		94.4	%	94.2	%	95.6	%		95.8	%	95.5	%
	Las Vegas, NV		6.5	%	7.6	%	8.7	%		93.9	%	93.7	%	94.6	%		95.3	%	95.5	%
	Los Angeles/Orange County, CA		7.9	%	6.6	%	6.6	%		93.5	%	93.9	%	94.5	%		93.3	%	92.7	%
	San Diego/Inland Empire, CA		3.1	%	3.5	%	3.4	%		94.5	%	95.1	%	94.3	%		93.1	%	93.8	%
	Tampa, FL		8.3	%	8.1	%	7.8	%		93.8	%	92.6	%	93.3	%		94.2	%	94.5	%
	Dallas, TX		9.1	%	8.1	%	7.9	%		92.7	%	92.5	%	93.5	%		94.6	%	94.4	%
	Houston, TX		6.1	%	7.1	%	7.3	%		95.2	%	94.6	%	95.2	%		95.2	%	95.0	%
	SE Florida		8.9	%	7.5	%	7.3	%		94.3	%	94.3	%	95.4	%		95.4	%	96.2	%
	Charlotte, NC		7.5	%	6.7	%	6.5	%		92.9	%	93.8	%	95.2	%		95.7	%	95.1	%
	Orlando, FL		7.0	%	5.8	%	5.6	%		93.9	%	92.9	%	93.6	%		93.5	%	92.6	%
	Atlanta, GA		6.9	%	5.9	%	5.6	%		93.5	%	94.1	%	95.6	%		94.7	%	93.5	%
	Denver, CO		4.9	%	4.4	%	4.6	%		94.5	%	95.5	%	96.1	%		96.0	%	94.5	%
	Raleigh, NC		4.6	%	4.6	%	4.5	%		94.1	%	92.5	%	93.8	%		95.0	%	93.4	%
	Phoenix, AZ		3.3	%	2.7	%	2.9	%		93.2	%	93.4	%	94.5	%		94.2	%	95.1	%
	Austin, TX		3.9	%	3.9	%	3.7	%		94.1	%	93.8	%	94.3	%		94.7	%	93.8	%
	Other		1.6	%	3.2	%	3.8	%		94.8	%	94.3	%	95.0	%		95.5	%	94.9	%
		Total Portfolio	100.0	%	100.0	%	100.0	%		93.9	%	93.7	%	94.5	%		94.9	%	94.6	%
	(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 March 31,
Property Revenues		Homes	2008			2007			Change
"Same Property" Communities (a)		43,480	$	129,340		$	127,479		$	1,861
Non-"Same Property" Communities (b)		3,711		13,286			9,307			3,979
Development and Lease-Up Communities (c)		2,761		3,053			265			2,788
Redevelopment Communities (d)		3,512		9,829			9,495			334
Dispositions / Other (e)		-		1,215			1,130			85
	Total Property Revenues	53,464	$	156,723		$	147,676		$	9,047
Property Expenses
"Same Property" Communities (a)		43,480	$	48,012		$	47,247		$	765
Non-"Same Property" Communities (b)		3,711		4,296			2,912			1,384
Development and Lease-Up Communities (c)		2,761		2,075			355			1,720
Redevelopment Communities (d)		3,512		3,943			3,526			417
Dispositions / Other (e)		-		576			598			(22	)
	Total Property Expenses	53,464	$	58,902		$	54,638		$	4,264
Property Net Operating Income
"Same Property" Communities (a)		43,480	$	81,328		$	80,232		$	1,096
Non-"Same Property" Communities (b)		3,711		8,990			6,395			2,595
Development and Lease-Up Communities (c)		2,761		978			(90	)		1,068
Redevelopment Communities (d)		3,512		5,886			5,969			(83	)
Dispositions / Other (e)		-		639			532			107
	Total Property Net Operating Income	53,464	$	97,821		$	93,038		$	4,783
Income from Discontinued Operations (f)			Three Months Ended March 31,
			2008			2007
Property Revenues			$	841		$	6,806
Property Expenses				482			3,231
Property Net Operating Income				359			3,575
Interest				(114	)		(121	)
Depreciation and Amortization				(17	)		(1,268	)
Minority Interest				-			(270	)
Gain on sale of discontinued operations				6,127			-
Income from Discontinued Operations			$	6,355		$	1,916
Notes:
(a)	"Same Property" Communities are communities which were owned by the Company and stabilized as of January 1, 2007, excluding properties held for sale.
(b)	Non-"Same Property" Communities are stabilized communities acquired or developed by the Company after January 1, 2007, excluding properties held for sale.
(c)	Development and Lease-Up Communities are non-stabilized communities developed or acquired by the Company after January 1, 2007, excluding properties held for sale.
(d)	Redevelopment Communities are non-stabilized communities redeveloped by the Company after January 1, 2007, 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 2007.
(f)	Represents operating results for communities disposed of during 2007 and 2008 or held for sale at March 31, 2008, of which Camden has, or expects to have, no continuing involvement.

					"SAME PROPERTY"
CAMDEN															FIRST QUARTER COMPARISONS
															March 31, 2008
										(In thousands, except property data amounts)
(Unaudited)
	Revenues						Expenses								NOI
Quarterly Results (a)	1Q08		1Q07		Growth		1Q08			1Q07			Growth		1Q08		1Q07		Growth
D.C. Metro	$	11,769	$	11,757	0.1	%	$	3,313		$	3,183		4.1	%	$	8,456	$	8,574	(1.4	%)
Las Vegas, NV		7,897		7,968	(0.9	%)		2,614			2,524		3.6	%		5,283		5,444	(3.0	%)
Los Angeles/Orange County, CA		8,960		8,428	6.3	%		2,529			2,407		5.1	%		6,431		6,021	6.8	%
San Diego/Inland Empire, CA		3,960		3,803	4.1	%		1,420			1,381		2.8	%		2,540		2,422	4.9	%
Tampa, FL		11,822		12,145	(2.7	%)		5,094			5,194		(1.9	%)		6,728		6,951	(3.2	%)
Dallas, TX		14,095		13,773	2.3	%		6,680			6,546		2.0	%		7,415		7,227	2.6	%
Houston, TX		8,470		8,170	3.7	%		3,488			3,394		2.8	%		4,982		4,776	4.3	%
SE Florida		11,506		11,696	(1.6	%)		4,273			4,456		(4.1	%)		7,233		7,240	(0.1	%)
Charlotte, NC		9,499		9,203	3.2	%		3,397			3,235		5.0	%		6,102		5,968	2.2	%
Orlando, FL		9,094		9,291	(2.1	%)		3,388			3,418		(0.9	%)		5,706		5,873	(2.8	%)
Atlanta, GA		8,993		8,833	1.8	%		3,353			3,177		5.5	%		5,640		5,656	(0.3	%)
Denver, CO		5,670		5,338	6.2	%		1,680			1,715		(2.0	%)		3,990		3,623	10.1	%
Raleigh, NC		5,695		5,375	6.0	%		2,004			1,943		3.1	%		3,691		3,432	7.5	%
Phoenix, AZ		4,041		4,223	(4.3	%)		1,378			1,321		4.3	%		2,663		2,902	(8.2	%)
Austin, TX		5,796		5,388	7.6	%		2,640			2,590		1.9	%		3,156		2,798	12.8	%
Other		2,073		2,088	(0.7	%)		761			763		(0.3	%)		1,312		1,325	(1.0	%)
Total Same Property	$	129,340	$	127,479	1.5	%	$	48,012		$	47,247		1.6	%	$	81,328	$	80,232	1.4	%
	Apartment Homes				% of NOI		Average Occupancy (a)								Weighted Average Rental Rate (b)
Quarterly Results (a)	Included				Contribution (a)		1Q08			1Q07			Change		1Q08		1Q07		Change
D.C. Metro		2,663			10.4	%		94.6	%		95.5	%	(0.9	%)	$	1,446	$	1,454	(0.6	%)
Las Vegas, NV		2,889			6.5	%		93.6	%		95.8	%	(2.2	%)		869		872	(0.4	%)
Los Angeles/Orange County, CA		1,770			7.9	%		93.7	%		92.5	%	1.2	%		1,659		1,634	1.5	%
San Diego/Inland Empire, CA		846			3.1	%		94.5	%		93.8	%	0.7	%		1,528		1,525	0.2	%
Tampa, FL		4,613			8.3	%		94.3	%		94.8	%	(0.5	%)		796		834	(4.5	%)
Dallas, TX		6,345			9.1	%		92.7	%		94.4	%	(1.7	%)		692		682	1.5	%
Houston, TX		3,350			6.1	%		95.1	%		95.1	%	(0.0	%)		797		777	2.5	%
SE Florida		2,520			8.9	%		94.3	%		96.2	%	(1.9	%)		1,473		1,471	0.2	%
Charlotte, NC		3,286			7.5	%		92.9	%		95.4	%	(2.5	%)		926		894	3.5	%
Orlando, FL		3,296			7.0	%		93.9	%		92.6	%	1.3	%		891		932	(4.4	%)
Atlanta, GA		3,202			6.9	%		93.5	%		93.5	%	0.0	%		910		900	1.1	%
Denver, CO		1,985			4.9	%		94.7	%		94.4	%	0.3	%		893		849	5.2	%
Raleigh, NC		2,220			4.6	%		94.0	%		93.4	%	0.6	%		779		763	2.1	%
Phoenix, AZ		1,441			3.3	%		93.0	%		94.9	%	(1.9	%)		920		933	(1.4	%)
Austin, TX		2,358			3.9	%		94.1	%		93.6	%	0.5	%		755		734	2.8	%
Other		696			1.6	%		93.3	%		94.5	%	(1.2	%)		962		957	0.5	%
Total Same Property		43,480			100.0	%		93.8	%		94.5	%	(0.7	%)	$	948	$	945	0.3	%
(a) "Same Property" Communities are communities which were owned by the Company and stabilized as of January 1, 2007, 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
	March 31,
OPERATING DATA (a)	2008			2007
Property Revenues
Rental revenues	$	5,568		$	4,855
Other property revenues		710			538
Total property revenues		6,278			5,393
Property Expenses
Property operating and maintenance		1,860			1,442
Real estate taxes		620			440
Total property expenses		2,480			1,882
Net Operating Income (NOI)		3,798			3,511
Other expenses
Interest		2,146			1,682
Depreciation and amortization		1,559			1,072
Other		140			22
Total other expenses		3,845			2,776
Equity in income (loss) of joint ventures		($47	)	$	735
	Mar 31,			Dec 31,			Sep 30,			Jun 30,			Mar 31,
	2008			2007			2007			2007			2007
BALANCE SHEET DATA (b)
Real estate assets, net	$	1,086,732		$	1,075,437		$	1,063,675		$	1,045,006		$	995,189
Cash and other assets, net		26,440			23,762			26,621			25,816			26,109
Total assets	$	1,113,172		$	1,099,199		$	1,090,296		$	1,070,822		$	1,021,298
Notes payable	$	895,471		$	883,972		$	859,786		$	838,937		$	795,329
Notes payable due to Camden		51,086			50,358			47,406			45,043			43,412
Other liabilities		15,616			15,144			17,013			18,782			10,463
Total liabilities	$	962,173		$	949,474		$	924,205		$	902,762		$	849,204
Members' equity		150,999			149,725			166,091			168,060			172,094
Total liabilities and members' equity	$	1,113,172		$	1,099,199		$	1,090,296		$	1,070,822		$	1,021,298
Camden's equity investment	$	12,526		$	8,466		$	12,243		$	12,722		$	8,321
Distributions in excess of investment in joint ventures		($25,065	)		($23,653	)		($20,867	)		($19,549	)		($18,805	)
Camden's pro-rata share of debt	$	226,828		$	222,278		$	210,476		$	204,480		$	184,778
PROPERTY DATA (end of period)
Total operating properties		37			37			37			36			36
Total operating apartment homes		10,960			10,960			10,960			10,689			10,689
Pro rata share of operating apartment homes		2,153			2,153			2,153			2,072			2,072
Total development properties		5			4			4			5			5
Total development apartment homes		1,605			1,257			1,257			1,528			1,528
Pro rata share of development apartment homes		447			377			377			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 MARCH 31, 2008 ($ in millions)
									Estimated/Actual Dates for
		Total	Total		Cost				Construction	Initial	Construction		Stabilized			As of 4/27/08
Completed Communities		Homes	Budget		to Date				Start	Occupancy	Completion		Operations			% Leased		% Occupied
1.	Camden Royal Oaks	236	$	22.0	$	21.0			2Q05	2Q06	3Q06		3Q08			86	%	68	%
	Houston, TX
2.	Camden Monument Place	368		64.0	$	62.4			1Q05	2Q07	4Q07		2Q08			88	%	82	%
	Fairfax, VA
3.	Camden City Centre	379		54.0	$	51.6			1Q06	2Q07	4Q07		3Q08			77	%	72	%
	Houston, TX
Total Completed Communities		983	$	140.0	$	135.0										83	%	75	%
											Estimated/Actual Dates for
		Total	Total		Cost		Amount		Construction	Initial	Construction		Stabilized			As of 4/27/08
Development Communities		Homes	Budget		to Date		in CIP		Start	Occupancy	Completion		Operations			% Leased		% Occupied
UNDER CONSTRUCTION
4.	Camden Potomac Yard	378	$	110.0	$	103.8	$	0.9	1Q05	3Q07	2Q08		1Q09			34	%	30	%
	Arlington, VA
5.	Camden Summerfield	291		68.0		61.2		5.9	2Q06	4Q07	4Q08		1Q09			36	%	27	%
	Landover, MD
6.	Camden Orange Court	261		49.0		44.1		15.5	2Q06	1Q08	3Q08		1Q09			14	%	7	%
	Orlando, FL
7.	Camden Dulles Station	366		77.0		59.5		49.1	1Q06	2Q08	1Q09		3Q09			9	%	7	%
	Oak Hill, VA
8.	Camden Cedar Hills (a)	208		27.0		15.1		14.5	2Q07	2Q08	4Q08		1Q09			3	%	1	%
	Austin, TX
9.	Camden Whispering Oaks	274		30.0		14.4		13.9	3Q07	2Q08	1Q09		3Q09			3	%	2	%
	Houston, TX
Total Development Communities		1,778	$	361.0	$	298.1	$	99.8
Additional land held for development (b)								259.2
Total Properties Under Development (per Balance Sheet)							$	359.0
NOI CONTRIBUTION FROM NON STABILIZED COMMUNITIES ($ in millions)
											Total Cost		1Q08 NOI
Development Communities stabilized at quarter end											$	92.2	$	0.8
Completed Communities in lease-up												135.0		1.1
Development Communities												298.1		(0.1	)
	Total Development NOI Contribution										$	525.3	$	1.8
(a) Formerly known as Camden Circle C.
(b) Please refer to the future development pipeline summary on page 17.
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 MARCH 31, 2008 ($ in millions)
											Estimated/Actual Dates for
		Total	Total		Cost		Amount		Construction		Initial	Construction	Stabilized	As of 4/27/08
Joint Venture Camden Developed Communities		Homes	Budget		to Date		in CIP		Start		Occupancy	Completion	Operations	% Leased		% Occupied
COMPLETED AND IN LEASE-UP
1.	Camden Plaza	271	$	42.9	$	40.8	$	0.0	1Q06		2Q07	3Q07	3Q08	80	%	71	%
	Houston, TX
UNDER CONSTRUCTION
2.	Camden College Park	508		139.9		122.4		61.2	3Q06		4Q07	4Q08	4Q09	32	%	27	%
	College Park, MD
3.	Camden Main & Jamboree	290		115.0		109.1		40.1	3Q04		4Q07	2Q08	1Q09	27	%	21	%
	Irvine, CA
4.	Camden Amber Oaks	348		40.0		11.4		11.4	4Q07		4Q08	2Q09	3Q10
	Austin, TX
Total Joint Venture Camden Developed Communities		1,417	$	337.8	$	283.7	$	112.7
							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	$	24.3	$	1.4		$ 8.1	1Q07	4Q09
	Houston, TX
2.	Belle Meade	119		33.2		11.0		1.0		$ 5.4	2Q07	3Q09
	Houston, TX
Total Joint Venture Third Party Developed Communities		459	$	81.8	$	35.2	$	2.4		$ 13.5
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 MARCH 31, 2008 ($ in millions)
		Projected	Estimated		Cost
PIPELINE COMMUNITIES (a)		Homes	Budget		to Date
PRE CONSTRUCTION
1.	Camden Montague	192	$	33.0	$	7.2
	Tampa, FL
2.	Camden South Capitol	276		110.0		24.4
	Washington, DC
3.	Camden Lake Nona	432		70.0		19.4
	Orlando, FL
4.	Camden Noma I	313		150.0		23.2
	Washington, DC
5.	Camden Lincoln Station	271		60.0		6.9
	Denver, CO
6.	Camden Deer Springs	428		85.0		18.3
	Las Vegas, NV
7.	Camden North Lamar	290		55.0		9.0
	Austin, TX
8.	Camden McGowen Station	237		48.0		10.2
	Houston, TX
9.	Camden Highlands	400		80.0		12.7
	Broomfield, CO
PRE DEVELOPMENT
10.	Camden Summerfield II	187		55.0		17.9
	Landover, MD
11.	Camden Selma and Vine	306		250.0		35.6
	Hollywood, CA
12.	Camden Sutherland (b)	253		45.0		2.8
	Houston, TX
13.	Camden City Centre II	239		40.0		7.4
	Houston, TX
14.	Camden Amber Oaks II	244		30.0		3.6
	Austin, TX
15.	Camden Noma II	400		192.0		28.4
	Washington, DC
16.	Camden Andrau	601		57.0		8.2
	Houston, TX
17.	Camden Countryway	348		60.0		14.6
	Tampa, FL
UNDER CONTRACT
18.	Camden Celebration	438		75.0		0.0
	Orlando, FL
Subtotal Development Pipeline		5,855	$	1,495.0	$	249.8
Other (c)						9.4
Total Development Pipeline					$	259.2
					Current
LAND HELD FOR SALE AS OF MARCH 31, 2008 ($ in millions)			Acres		Book Value
1.	Southeast Florida			2.2	$	7.3
2.	Dallas			2.4		1.8
Total Land Parcels Held For Sale:				4.6	$	9.1
(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 MARCH 31, 2008 ($ in millions)
			Homes			Estimated/Actual Dates for
		Total	Redeveloped	Total	Cost	Redevelopment	Redevelopment	Project	1Q08 Average
Communities		Homes	To Date	Budget	to Date	Start	Completion	Restabilization	% Occupied
1.	Camden Breakers	288	284	$1.2	$0.9	4Q06	2Q08	2Q08	89%
	Corpus Christi, TX
2.	Camden Canyon	200	177	2.9	2.7	1Q07	2Q08	3Q08	95%
	Las Vegas, NV
3.	Camden Del Mar	560	500	8.7	8.0	1Q07	2Q08	3Q08	87%
	Las Vegas, NV
4.	Camden Fairways	320	270	5.3	4.8	1Q07	2Q08	3Q08	86%
	Henderson, NV
5.	Camden Foxcroft	156	60	1.4	0.5	4Q07	1Q09	2Q09	92%
	Charlotte, NC
6.	Camden Glen Lakes	424	424	7.0	7.0	4Q06	1Q08	2Q08	90%
	Dallas, TX
7.	Camden Providence Lakes	260	260	2.3	2.3	4Q06	1Q08	2Q08	89%
	Brandon, FL
8.	Camden Touchstone	132	132	1.3	1.1	4Q06	1Q08	2Q08	93%
	Charlotte, NC
9.	Camden Vanderbilt	894	883	8.2	7.3	4Q06	2Q08	3Q08	85%
	Houston, TX
10.	Camden Westshore	278	278	1.8	1.8	4Q06	1Q08	2Q08	89%
	Tampa, FL
Total		3,512	3,268	$40.0	$36.4				88%
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 MARCH 31, 2008 ($ in thousands)
				03/31/08	03/31/08			12/31/07
				Total	Note			Note
	Location	Current Property Type	Current Status	Homes	Balance			Balance
	Irvine, CA	Multifamily	Development	290	$	21,055		$	20,338
	Houston, TX	Multifamily	Development/Predevelopment	831		30,897			33,034
	College Park, MD	Multifamily	Development	508		8,477			8,186
	Charlotte, NC	Multifamily	Land Under Contract	-		612			365
	Total Notes Receivable:			1,629	$	61,041		$	61,923
	Weighted Average Interest Rate Recognized:					10.3	%		11.5	%

CAMDEN			ACQUISITIONS & DISPOSITIONS
(Unaudited)
2008 ACQUISITION/DISPOSITION ACTIVITY
				Apartment Homes/
Dispositions		Location	Property Type	Retail Square Feet	Year Built	Closing Date
1.	Retail Center	Las Vegas, NV	Retail	4,100 Square Feet	NA	02/05/08
2.	Camden Ridgeview	Austin, TX	Multifamily	167	1984	02/28/08
Total Disposition Volume:		$12.0 million		167 apartment homes
				4,100 Square Feet
Dispositions to Joint Ventures		Location	Property Type	Acreage	Year Built	Closing Date
1.	Camden Amber Oaks (a)	Austin, TX	Undeveloped Land	14.3 Acres	N/A	03/07/08
Total Disposition to Joint Ventures Volume:		$4.8 million (a)		14.3 Acres
(a) Represents value of partnership interests for undeveloped land parcel sold on March 7, 2008.

CAMDEN													DEBT ANALYSIS
							(In thousands, except property data amounts)
(Unaudited)
DEBT MATURITIES AS OF MARCH 31, 2008: (a)
													Weighted Average
		Future Scheduled Repayments								Percent			Interest Rate on
	Year	Amortization		Maturities			Total			of Total			Maturing Debt
	2008	$	8,557	$	188,879		$	197,435			6.8	%	4.8%
	2009		7,772		190,324			198,096			6.8	%	5.0%
	2010		7,026		445,677			452,703			15.6	%	5.1%
	2011		4,033		244,233			248,266			8.5	%	6.5%
	2012		2,913		769,541			772,454			26.5	%	5.4%
	2013		1,624		225,831			227,455			7.8	%	5.4%
	Thereafter		45,920		567,629			613,549			21.1	%	5.3%
	Total Maturing Debt	$	77,845	$	2,632,113		$	2,709,958			93.1	%	5.4%
	Unsecured Line of Credit		0		201,000			201,000			6.9	%	3.4%
	Total Debt	$	77,845	$	2,833,113		$	2,910,958			100.0	%	5.2%
	Weighted Average Maturity of Debt			4.6 Years			(excluding line of credit)
										Weighted Average
FLOATING vs. FIXED RATE DEBT:				Balance			% of Total			Interest Rate
	Floating rate debt			$	258,374			8.9	%		3.5%
	Fixed rate debt				2,652,584			91.1	%		5.4%
	Total			$	2,910,958			100.0	%		5.2%
										Weighted Average
SECURED vs. UNSECURED DEBT:				Balance			% of Total			Interest Rate
	Unsecured debt			$	2,351,006			80.8	%		5.3%
	Secured debt				559,952			19.2	%		4.8%
	Total			$	2,910,958			100.0	%		5.2%
										Weighted Average
SECURED DEBT DETAIL:				Balance			% of Total			Interest Rate
	Conventional fixed-rate mortgage debt			$	496,257			88.6	%		4.9%
	Tax exempt fixed rate debt				6,321			1.1	%		7.3%
	Tax exempt variable rate debt				57,374			10.3	%		3.7%
	Total			$	559,952			100.0	%		4.8%
REAL ESTATE ASSETS: (b)				Total Homes			% of Total			Total Cost			% of Total
	Unencumbered real estate assets				45,383			83.9	%	$	4,553,507		81.7	%
	Encumbered real estate assets				8,701			16.1	%		1,019,806		18.3	%
	Total				54,084			100.0	%	$	5,573,313		100.0	%
		Ratio of unencumbered assets at cost to unsecured debt is 1.9 times
UNCONSOLIDATED, NON-RECOURSE DEBT:
	Pro-Rata Share of Debt			$	226,828
	Weighted Average Interest Rate				5.3	%
	(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
		March 31, 2008
(Unaudited)
UNSECURED LINE OF CREDIT
Covenant (a)	Required			Actual (b)	Compliance
Total Consolidated Debt to Gross Asset Value	≤	60%		50%	Yes
Secured Debt to Gross Asset Value	≤	40%		9%	Yes
Consolidated EBITDA to Total Fixed Charges	≥	150%		199%	Yes
Unencumbered Adjusted NOI to Unsecured Interest Expense	>	200%		231%	Yes
SENIOR UNSECURED NOTES
Covenant (a)	Required			Actual (b)	Compliance
Total Consolidated Debt to Total Asset Value	≤	60%		51%	Yes
Total Secured Debt to Total Asset Value	≤	40%		10%	Yes
Total Unencumbered Asset Value to Total Unsecured Debt	≥	150%		199%	Yes
Consolidated Income Available for Debt Service to Total	>	150%		229%	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)
		First Quarter 2008 (a)
		Capitalized					Expensed
		Weighted Average
	Item	Useful Life (b)	Total		Per Unit		Total		Per Unit
	Interiors
	Floor coverings	5.5 years	$	2,320	$	45	$	686	$	13
	Appliances	9.1 years		512		10		147		3
	Painting	-		-		-		1,275		25
	Cabinetry/Countertops	10.0 years		272		5		-		-
	Other	8.7 years		809		16		347		7
	Exteriors
	Painting	5.0 years		160		3		-		-
	Carpentry	10.0 years		191		4		-		-
	Landscaping	6.0 years		491		9		2,715		52
	Roofing	20.0 years		313		6		71		1
	Site Drainage	10.0 years		77		1		-		-
	Fencing/Stair	10.0 years		81		2		-		-
	Other (c)	8.1 years		631		12		1,790		35
	Common Areas
	Mech., Elec., Plumbing	9.6 years		698		13		671		13
	Parking/Paving	5.0 years		45		1		-		-
	Pool/Exercise/Facility	7.8 years		602		12		230		4
			$	7,202	$	139	$	7,932	$	153
	Weighted Average Apartment Homes					51,763				51,763
	(a) Includes discontinued operations. Capitalized expenditures for discontinued operations were $49 for the three months ended March 31, 2008. Maintenance expenses for discontinued operations were $63 for the same period.
	(b) of capitalized expenses for the three months ended March 31, 2008
	(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							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
								March 31,
								2008			2007
Net income								$	14,915		$	13,037
Real estate depreciation and amortization from continuing operations									41,921			38,338
Real estate depreciation from discontinued operations									17			1,268
Adjustments for unconsolidated joint ventures									1,539			1,086
Income from continuing operations allocated to common units									1,156			736
Income from discontinued operations allocated to common units									-			270
(Gain) loss on sale of operating properties, net of taxes									(1,106	)		1,184
(Gain) on sale of discontinued operations									(6,112	)		-
Funds from operations - diluted								$	52,330		$	55,919
Weighted average number of common and common equivalent shares outstanding:
EPS diluted									55,625			59,994
FFO diluted									58,544			63,021
Net income per common share - diluted								$	0.27		$	0.22
FFO per common share - diluted								$	0.89		$	0.89
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:
	2Q08 Range							2008 Range
	Low			High				Low			High
Expected net income per share - diluted	$	0.08		$	0.12			$	0.57		$	0.77
Expected difference between EPS and fully diluted FFO shares		(0.01	)		(0.01	)			($0.03	)		($0.03	)
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		0.03			0.03			$	0.11		$	0.11
Expected (gain) on sale of properties and properties held for sale		0.00			0.00				($0.12	)		($0.12	)
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)
(Unaudited)
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
	March 31,
	2008			2007
Net income	$	14,915		$	13,037
Fee and asset management income		(2,412	)		(2,386	)
Interest and other income		(1,333	)		(1,562	)
Income on deferred compensation plans		8,541			(2,306	)
Property management expense		4,900			4,728
Fee and asset management expense		1,725			1,620
General and administrative expense		7,960			8,054
Interest expense		32,661			27,790
Depreciation and amortization		42,785			39,053
Amortization of deferred financing costs		742			913
Expense on deferred compensation plans		(8,541	)		2,306
(Gain) loss on sale of properties, including land		(1,106	)		-
Equity in income of joint ventures		47			(735	)
Distributions on perpetual preferred units		1,750			1,750
Income allocated to common units and other minority interests		1,269			787
Income tax expense		273			1,905
Income tax expense on sale of depreciable operating properties		-			-
Income from discontinued operations		(228	)		(2,186	)
Gain on sale of discontinued operations		(6,127	)		-
Income from discontinued operations allocated to common units		-			270
Net Operating Income (NOI)	$	97,821		$	93,038
"Same Property" Communities	$	81,328		$	80,232
Non-"Same Property" Communities		8,990			6,395
Development and Lease-Up Communities		978			(90	)
Redevelopment Communities		5,886			5,969
Dispositions / Other		639			532
Net Operating Income (NOI)	$	97,821		$	93,038
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
	March 31,
	2008			2007
Net income	$	14,915		$	13,037
Interest expense		32,775			27,911
Amortization of deferred financing costs including discontinued operations		742			913
Depreciation and amortization		42,785			39,053
Distributions on perpetual preferred units		1,750			1,750
Income allocated to common units and other minority interests		1,269			787
Income tax expense		273			1,905
Real estate depreciation from discontinued operations		17			1,268
(Gain) loss on sale of properties, including land		(1,106	)		-
Equity in income of joint ventures		47			(735	)
Gain on sale of discontinued operations		(6,127	)		-
Income from discontinued operations allocated to common units		-			270
EBITDA	$	87,340		$	86,159

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:					Q2 '08	Q3 '08	Q4 '08	Q1 '09
	Earnings release & conference call				Early Aug	Early Nov	Early Feb	Early May
Dividend Information - Common Shares:					Q1 '08
	Declaration Date				03/14/08
	Record Date				03/31/08
	Payment Date				04/17/08
	Distributions Per Share				$0.70
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
		H. Malcolm Stewart		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 3/31/08
(Unaudited)									1Q08 Avg
					Year Placed	Average	Apartment	1Q08 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	92%	867	1.10
	Camden Fountain Palms (1)		Peoria	AZ	1986/1996	1,050	192	94%	819	0.78
	Camden Legacy		Scottsdale	AZ	1996	1,067	428	95%	1,008	0.94
	Camden Pecos Ranch (1)		Chandler	AZ	2001	924	272	93%	858	0.93
	Camden San Paloma		Scottsdale	AZ	1993/1994	1,042	324	93%	1,053	1.01
	Camden Sierra (1)		Peoria	AZ	1997	925	288	94%	788	0.85
	Camden Towne Center (1)		Glendale	AZ	1998	871	240	94%	805	0.92
	Camden Vista Valley		Mesa	AZ	1986	923	357	91%	741	0.80
		TOTAL ARIZONA	8	Properties		951	2,433	93%	878	0.92
	Camden Crown Valley		Mission Viejo	CA	2001	1,009	380	95%	1,654	1.64
	Camden Harbor View		Long Beach	CA	2004	975	538	95%	2,036	2.09
	Camden Martinique		Costa Mesa	CA	1986	794	714	92%	1,391	1.75
	Camden Parkside (1)		Fullerton	CA	1972	836	421	93%	1,299	1.55
	Camden Sea Palms		Costa Mesa	CA	1990	891	138	96%	1,589	1.78
		Total Los Angeles/Orange County	5	Properties		890	2,191	94%	1,590	1.79
	Camden Old Creek		San Marcos	CA	2007	1,037	350	96%	1,471	1.42
	Camden Sierra at Otay Ranch		Chula Vista	CA	2003	962	422	96%	1,521	1.58
	Camden Tuscany		San Diego	CA	2003	896	160	97%	1,910	2.13
	Camden Vineyards		Murrieta	CA	2002	1,053	264	91%	1,306	1.24
		Total San Diego/Inland Empire	4	Properties		995	1,196	95%	1,511	1.52
		TOTAL CALIFORNIA	9	Properties		927	3,387	94%	1,562	1.68
	Camden Arbors		Westminster	CO	1986	810	358	93%	726	0.90
	Camden Caley		Englewood	CO	2000	925	218	95%	849	0.92
	Camden Centennial		Littleton	CO	1985	744	276	96%	701	0.94
	Camden Denver West (1)		Golden	CO	1997	1,015	320	96%	1,064	1.05
	Camden Highlands Ridge		Highlands Ranch	CO	1996	1,149	342	95%	1,077	0.94
	Camden Interlocken		Broomfield	CO	1999	1,022	340	96%	1,044	1.02
	Camden Lakeway		Littleton	CO	1997	932	451	93%	912	0.98
	Camden Pinnacle (2)		Westminster	CO	1985	748	224	90%	669	0.89
		TOTAL COLORADO	8	Properties		929	2,529	95%	895	0.96
	Camden Ashburn Farms		Ashburn	VA	2000	1,062	162	96%	1,330	1.25
	Camden Clearbrook		Frederick	MD	2007	1,048	297	94%	1,297	1.24
	Camden Fair Lakes		Fairfax	VA	1999	1,056	530	93%	1,441	1.37
	Camden Fairfax Corner		Fairfax	VA	2006	934	488	95%	1,545	1.65
	Camden Fallsgrove		Rockville	MD	2004	996	268	97%	1,498	1.50
	Camden Grand Parc		Washington	DC	2002	674	105	95%	2,227	3.30
	Camden Lansdowne		Leesburg	VA	2002	1,006	690	95%	1,282	1.27
	Camden Largo Town Center		Largo	MD	2000/2007	1,027	245	93%	1,596	1.55
	Camden Monument Place (3)		Fairfax	VA	2007	856	368	Lease-up	1,388	1.62
	Camden Roosevelt		Washington	DC	2003	856	198	95%	2,186	2.55
	Camden Russett		Laurel	MD	2000	992	426	93%	1,325	1.34
	Camden Silo Creek		Washington	DC	2004	975	284	94%	1,245	1.28
	Camden Westwind		Ashburn	VA	2006	1,036	464	94%	1,268	1.22
		TOTAL DC METRO	13	Properties		983	4,525	94%	1,432	1.46
	Camden Aventura		Aventura	FL	1995	1,108	379	94%	1,408	1.27
	Camden Brickell		Miami	FL	2003	937	405	97%	1,519	1.62
	Camden Doral		Miami	FL	1999	1,120	260	97%	1,496	1.34
	Camden Doral Villas		Miami	FL	2000	1,253	232	97%	1,572	1.25
	Camden Las Olas		Ft. Lauderdale	FL	2004	1,043	420	92%	1,684	1.61
	Camden Plantation		Plantation	FL	1997	1,201	502	91%	1,346	1.12
	Camden Portofino		Pembroke Pines	FL	1995	1,112	322	97%	1,327	1.19
		Total Southeast Florida	7	Properties		1,103	2,520	94%	1,473	1.34
	Camden Club		Longwood	FL	1986	1,077	436	93%	904	0.84
	Camden Hunter's Creek		Orlando	FL	2000	1,075	270	97%	992	0.92
	Camden Lago Vista		Orlando	FL	2005	955	366	96%	962	1.01
	Camden Landings		Orlando	FL	1983	748	220	93%	740	0.99
	Camden Lee Vista		Orlando	FL	2000	937	492	93%	879	0.94
	Camden Renaissance		Altamonte Springs	FL	1996/1998	899	578	92%	873	0.97
	Camden Reserve		Orlando	FL	1990/1991	824	526	92%	791	0.96
	Camden World Gateway		Orlando	FL	2000	979	408	97%	997	1.02
		Total Orlando	8	Properties		937	3,296	94%	891	0.95

CAMDEN								COMMUNITY TABLE
							Community Statistics as of 3/31/08
(Unaudited)									1Q08 Avg
					Year Placed	Average	Apartment	1Q08 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	94%	849	0.90
	Camden Bay Pointe		Tampa	FL	1984	771	368	94%	720	0.93
	Camden Bayside		Tampa	FL	1987/1989	748	832	95%	755	1.01
	Camden Citrus Park		Tampa	FL	1985	704	247	94%	704	1.00
	Camden Lakes		St. Petersburg	FL	1982/1983	732	688	93%	723	0.99
	Camden Lakeside		Brandon	FL	1986	729	228	95%	749	1.03
	Camden Live Oaks		Tampa	FL	1990	1,093	770	95%	803	0.73
	Camden Preserve		Tampa	FL	1996	942	276	92%	1,066	1.13
	Camden Providence Lakes (4)		Brandon	FL	1996	1,024	260	91%	923	0.90
	Camden Royal Palms		Brandon	FL	2006	1,017	352	87%	976	0.96
	Camden Westshore (4)		Tampa	FL	1986	728	278	91%	841	1.16
	Camden Woods		Tampa	FL	1986	1,223	444	95%	855	0.70
		Total Tampa/St. Petersburg	12	Properties		897	5,503	94%	816	0.91
		TOTAL FLORIDA	27	Properties		955	11,319	94%	984	1.03
	Camden Brookwood		Atlanta	GA	2002	912	359	93%	1,001	1.10
	Camden Dunwoody		Atlanta	GA	1997	1,007	324	96%	938	0.93
	Camden Deerfield		Alpharetta	GA	2000	1,187	292	92%	952	0.80
	Camden Midtown Atlanta		Atlanta	GA	2001	935	296	94%	1,032	1.10
	Camden Peachtree City		Peachtree City	GA	2001	1,027	399	94%	877	0.85
	Camden River		Duluth	GA	1997	1,103	352	93%	904	0.82
	Camden Shiloh		Kennesaw	GA	1999/2002	1,143	232	95%	846	0.74
	Camden St. Clair		Atlanta	GA	1997	999	336	93%	961	0.96
	Camden Stockbridge		Stockbridge	GA	2003	1,009	304	90%	765	0.76
	Camden Sweetwater		Lawrenceville	GA	2000	1,151	308	94%	807	0.70
		TOTAL GEORGIA	10	Properties		1,042	3,202	94%	910	0.87
	Camden Brookside (1)		Louisville	KY	1987	732	224	96%	626	0.85
	Camden Meadows (1)		Louisville	KY	1987/1990	746	400	95%	656	0.88
	Camden Oxmoor (1)		Louisville	KY	2000	903	432	95%	792	0.88
	Camden Prospect Park (1)		Louisville	KY	1990	916	138	93%	731	0.80
		TOTAL KENTUCKY	4	Properties		820	1,194	95%	708	0.86
	Camden Passage (1)		Kansas City	MO	1989/1997	834	596	95%	681	0.82
		Total Kansas City	1	Property		834	596	95%	681	0.82
	Camden Cedar Lakes (1)		Lake St. Louis	MO	1986	852	420	92%	632	0.74
	Camden Cove West (1)		Creve Coeur	MO	1990	828	276	96%	851	1.03
	Camden Cross Creek (1)		St. Louis	MO	1973/1980	947	591	96%	757	0.80
	Camden Westchase (1)		St. Louis	MO	1986	945	160	95%	827	0.88
		Total St. Louis	4	Properties		896	1,447	95%	746	0.83
		TOTAL MISSOURI	5	Properties		878	2,043	95%	727	0.83
	Camden Bel Air		Las Vegas	NV	1988/1995	943	528	92%	870	0.92
	Camden Breeze		Las Vegas	NV	1989	846	320	95%	859	1.02
	Camden Canyon (4)		Las Vegas	NV	1995	987	200	95%	979	0.99
	Camden Commons		Henderson	NV	1988	936	376	90%	913	0.98
	Camden Cove		Las Vegas	NV	1990	898	124	97%	870	0.97
	Camden Del Mar (4)		Las Vegas	NV	1995	986	560	87%	1,034	1.05
	Camden Fairways (4)		Henderson	NV	1989	896	320	86%	1,009	1.13
	Camden Hills		Las Vegas	NV	1991	439	184	98%	635	1.45
	Camden Legends		Henderson	NV	1994	792	113	90%	928	1.17
	Camden Palisades		Las Vegas	NV	1991	905	624	94%	890	0.98
	Camden Pines (1)		Las Vegas	NV	1997	982	315	96%	934	0.95
	Camden Pointe		Las Vegas	NV	1996	983	252	95%	917	0.93
	Camden Summit (1)		Henderson	NV	1995	1,187	234	97%	1,214	1.02
	Camden Tiara (1)		Las Vegas	NV	1996	1,043	400	94%	987	0.95
	Camden Vintage		Las Vegas	NV	1994	978	368	95%	860	0.88
	Oasis Bay (1)		Las Vegas	NV	1990	876	128	93%	858	0.98
	Oasis Crossing (1)		Las Vegas	NV	1996	983	72	96%	886	0.90

CAMDEN					COMMUNITY TABLE
					Community Statistics as of 3/31/08
(Unaudited)							1Q08 Avg
			Year Placed	Average	Apartment	1Q08 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	97%	773	0.89
Oasis Gateway (1)	Las Vegas	NV	1997	1,146	360	94%	950	0.83
Oasis Island (1)	Las Vegas	NV	1990	901	118	94%	747	0.83
Oasis Landing (1)	Las Vegas	NV	1990	938	144	95%	810	0.86
Oasis Meadows (1)	Las Vegas	NV	1996	1,031	383	93%	887	0.86
Oasis Palms (1)	Las Vegas	NV	1989	880	208	92%	817	0.93
Oasis Pearl (1)	Las Vegas	NV	1989	930	90	99%	781	0.84
Oasis Place (1)	Las Vegas	NV	1992	440	240	96%	590	1.34
Oasis Ridge (1)	Las Vegas	NV	1984	391	477	92%	538	1.38
Oasis Sands (2)	Las Vegas	NV	1994	1,125	48	95%	872	0.78
Oasis Sierra (1)	Las Vegas	NV	1998	923	208	94%	922	1.00
Oasis Springs (1)	Las Vegas	NV	1988	838	304	93%	757	0.90
Oasis Vinings (1)	Las Vegas	NV	1994	1,152	234	94%	866	0.75
TOTAL NEVADA	30	Properties		904	8,064	94%	874	0.97
Camden Ballantyne	Charlotte	NC	1998	1,045	400	92%	905	0.87
Camden Cotton Mills	Charlotte	NC	2002	905	180	95%	1,255	1.39
Camden Dilworth	Charlotte	NC	2006	857	145	95%	1,240	1.45
Camden Fairview	Charlotte	NC	1983	1,036	135	96%	835	0.81
Camden Forest	Charlotte	NC	1989	703	208	93%	622	0.88
Camden Foxcroft (4)	Charlotte	NC	1979	940	156	93%	755	0.80
Camden Grandview	Charlotte	NC	2000	1,057	266	93%	1,386	1.31
Camden Habersham	Charlotte	NC	1986	773	240	94%	663	0.86
Camden Park Commons	Charlotte	NC	1997	861	232	92%	728	0.85
Camden Pinehurst	Charlotte	NC	1967	1,147	407	93%	802	0.70
Camden Sedgebrook	Charlotte	NC	1999	972	368	92%	810	0.83
Camden Simsbury	Charlotte	NC	1985	874	100	94%	769	0.88
Camden South End Square	Charlotte	NC	2003	882	299	94%	1,146	1.30
Camden Stonecrest	Charlotte	NC	2001	1,098	306	90%	954	0.87
Camden Touchstone (4)	Charlotte	NC	1986	899	132	94%	753	0.84
Total Charlotte	15	Properties		961	3,574	93%	912	0.95
Camden Crest	Raleigh	NC	2001	1,013	438	93%	785	0.78
Camden Governor's Village	Chapel Hill	NC	1999	1,046	242	91%	863	0.83
Camden Lake Pine	Apex	NC	1999	1,066	446	95%	797	0.75
Camden Manor Park	Raleigh	NC	2006	966	484	95%	851	0.88
Camden Overlook	Raleigh	NC	2001	1,060	320	97%	853	0.80
Camden Reunion Park	Apex	NC	2000/2004	972	420	93%	674	0.69
Camden Westwood	Morrisville	NC	1999	1,027	354	94%	749	0.73
Total Raleigh	7	Properties		1,017	2,704	94%	792	0.78
TOTAL NORTH CAROLINA	22	Properties		985	6,278	94%	860	0.87
Camden Valleybrook	Chadds Ford	PA	2002	992	352	95%	1,275	1.29
TOTAL PENNSYLVANIA	1	Property		992	352	95%	1,275	1.29
Camden Briar Oaks	Austin	TX	1980	711	430	93%	613	0.86
Camden Gaines Ranch	Austin	TX	1997	955	390	93%	979	1.03
Camden Huntingdon	Austin	TX	1995	903	398	96%	763	0.85
Camden Laurel Ridge	Austin	TX	1986	702	183	90%	618	0.88
Camden Ridgecrest	Austin	TX	1995	855	284	94%	687	0.80
Camden South Congress	Austin	TX	2001	975	253	95%	1,463	1.50
Camden Stoneleigh	Austin	TX	2001	908	390	95%	863	0.95
Camden Woodview	Austin	TX	1984	644	283	96%	654	1.02
Total Austin	8	Properties		839	2,611	94%	823	0.98
Camden Breakers (4)	Corpus Christi	TX	1996	868	288	89%	874	1.01
Camden Copper Ridge	Corpus Christi	TX	1986	775	344	92%	641	0.83
Camden Miramar (5)	Corpus Christi	TX	1994-2004	482	778	89%	869	1.80
Total Corpus Christi	3	Properties		632	1,410	92%	814	1.29

CAMDEN							COMMUNITY TABLE
							Community Statistics as of 3/31/08
(Unaudited)									1Q08 Avg
					Year Placed	Average	Apartment	1Q08 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%	830	0.88
	Camden Buckingham		Richardson	TX	1997	919	464	93%	805	0.88
	Camden Centreport		Ft. Worth	TX	1997	911	268	95%	796	0.87
	Camden Cimarron		Irving	TX	1992	772	286	96%	767	0.99
	Camden Farmers Market		Dallas	TX	2001/2005	932	904	96%	918	0.98
	Camden Gardens		Dallas	TX	1983	652	256	94%	541	0.83
	Camden Glen Lakes (4)		Dallas	TX	1979	877	424	90%	772	0.88
	Camden Lakeview		Irving	TX	1985	853	476	94%	626	0.73
	Camden Legacy Creek		Plano	TX	1995	831	240	96%	808	0.97
	Camden Legacy Park		Plano	TX	1996	871	276	96%	841	0.97
	Camden Oasis		Euless	TX	1986	548	602	75%	531	0.97
	Camden Place		Mesquite	TX	1984	772	442	95%	581	0.75
	Camden Springs		Dallas	TX	1987	713	304	93%	575	0.81
	Camden Towne Village		Mesquite	TX	1983	735	188	96%	627	0.85
	Camden Valley Creek		Irving	TX	1984	855	380	93%	652	0.76
	Camden Valley Park		Irving	TX	1986	743	516	93%	637	0.86
	Camden Valley Ridge		Irving	TX	1987	773	408	92%	594	0.77
	Camden Westview		Lewisville	TX	1983	697	335	95%	603	0.87
		Total Dallas/Ft. Worth	18	Properties		807	7,225	93%	705	0.87
	Camden Baytown		Baytown	TX	1999	844	272	96%	829	0.98
	Camden City Centre (3)		Houston	TX	2007	932	379	Lease-up	1,381	1.48
	Camden Creek		Houston	TX	1984	639	456	92%	587	0.92
	Camden Greenway		Houston	TX	1999	861	756	96%	987	1.15
	Camden Holly Springs (1)		Houston	TX	1999	934	548	97%	902	0.97
	Camden Midtown		Houston	TX	1999	844	337	98%	1,157	1.37
	Camden Oak Crest		Houston	TX	2003	870	364	96%	830	0.95
	Camden Park (1)		Houston	TX	1995	866	288	94%	782	0.90
	Camden Plaza (1)(3)		Houston	TX	2007	915	271	Lease-up	1,365	1.49
	Camden Royal Oaks (3)		Houston	TX	2006	923	236	Lease-up	1,069	1.16
	Camden Steeplechase		Houston	TX	1982	748	290	93%	625	0.83
	Camden Stonebridge		Houston	TX	1993	845	204	98%	822	0.97
	Camden Sugar Grove (1)		Stafford	TX	1997	921	380	95%	843	0.92
	Camden Vanderbilt (4)		Houston	TX	1996/1997	863	894	85%	1,107	1.28
	Camden West Oaks		Houston	TX	1982	726	671	95%	578	0.80
		Total Houston	15	Properties		843	6,346	95%	921	1.09
		TOTAL TEXAS	44	Properties		811	17,592	94%	809	1.00
TOTAL PROPERTIES			181	Properties		910	62,918	94%	949	1.04
(1)	Communities owned through investment in joint venture.
(2)	Communities held for sale as of March 31, 2008.
(3)	Completed communities in lease-up as of March 31, 2008 are excluded from total occupancy numbers.
(4)	Communities under redevelopment as of March 31, 2008 are excluded from total occupancy numbers.
(5)	Miramar is a student housing community which is excluded from total occupancy numbers.