<PAGE> 1
Pricing Supplement No. 5 Filing under Rule 424(b)(3)
Dated January 20, 1999 Registration No. 33-84536
(Prospectus dated January 30, 1996 and
Prospectus Supplement dated March 20, 1997)
$5,000,000
CAMDEN PROPERTY TRUST
Medium-Term Notes, Series A
Fixed Rate Note
<TABLE>
<CAPTION>
<S> <C> <C> <C>
Principal amount: $5,000,000 Floating Rate Notes: N/A
Interest Rate (if fixed rate): 6.875% Interest rate basis: N/A
Stated Maturity: January 20, 2004 Commercial Paper Rate
Specified Currency: U.S. Dollar Prime Rate
Applicable Exchange Rate (if any): N/A LIBOR
U.S. $1.00 = N/A Treasury Rate
Issue price (as a percentage CD Rate
of principal amount): 100% Federal Funds Rate
Selling Agent's commission (%): N/A Other:
Purchasing Agent's discount (%): 0.50% Index Maturity: N/A
Net proceeds to the Company (%): 99.50% Spread: N/A
Settlement date (original Spread Multiplier: N/A
issue date): January 20, 1999 Maximum Rate: N/A
Redemption Commencement Minimum Rate: N/A
Date (if any): January 20, 1999 Initial Interest Rate: N/A
Interest Determination Date(s): N/A Interest Reset Date(s): N/A
Calculation Date(s): N/A Interest Determination Date(s): N/A
Interest Payment Dates: January 15 & Calculation Date(s): N/A
July 15 Interest Payment Date(s): N/A
Regular Record Dates: January 1 & Regular Record Date(s): N/A
July 1
Agents Capacity: Agent
</TABLE>
Redemption prices (if any): means an amount equal to the sum of (i) 100%
of the unpaid principal amount to be redeemed, (ii) a Make Whole Amount (as
further described in the Prospectus Supplement), and (iii) accrued interest to
the date of redemption.
Additional terms:
As of the date of this Pricing Supplement, the aggregate initial public
offering price (or its equivalent in other currencies) of the Notes (as defined
in the Prospectus Supplement) which have been sold (including the Notes to which
this Pricing Supplement relates) is $5,000,000 "N/A" as used herein means "Not
Applicable." "A/S" as used herein means "As stated in the Prospectus Supplement
referred to above."
Merrill Lynch
