Parkway Appoints Chief Investment Officer as Interim Chief Financial Officer

Parkway Properties, Inc. (NYSE: PKY) announced today that the Board of Directors appointed David R. O'Reilly as interim Chief Financial Officer, effective May 10, 2012. Mr. O'Reilly will retain his responsibilities as the Company's Executive Vice President and Chief Investment Officer. In addition, Richard G. Hickson IV, Executive Vice President and Chief Financial Officer resigned his position. Mr. Hickson's resignation is not related to any disagreements with the Company's accounting, financial reporting, internal control or the audit committee, and he will remain with the Company through the filing of the first quarter form 10-Q.

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