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                                                                    Exhibit 99.4


          CAMDEN PROPERTY TRUST ANNOUNCES THE PRIVATE PLACEMENT OF $100
                        MILLION PERPETUAL PREFERRED UNITS


Houston,  TEXAS (February 24, 1999) - Camden Property Trust (NYSE:CPT) announced
the  successful  completion  of  a  private  placement  of  perpetual  preferred
operating units issued to institutional  investors. The $100 million 8.5% Series
B  Cumulative  Redeemable  Perpetual  Preferred  Units were  issued by  Camden's
operating   partnership.   The  units  are  non-callable  for  five  years,  are
subordinate  to all debt,  and have no  mandatory  redemption  date.  Donaldson,
Lufkin & Jenrette acted as agent in the transaction.  The net proceeds were used
to reduce balances outstanding on Camden's lines of credit.

Camden Property Trust is one of the nation's largest  multifamily REITs and owns
interests in and operates 149 properties  containing  51,310  apartment homes in
the Sunbelt and Midwestern  markets from Florida to California.  Upon completion
of 14 properties  under  development,  the Company's  portfolio will increase to
56,968 apartment homes in 163 properties.

For more  information,  please  contact  Richard  J.  Campo or D.  Keith Oden at
1-800-9Camden,   or  locally  at  (713)  354-2500,   or  visit  our  website  at
http://www.camdenprop.com.