Parkway Announces Pending $200 Million Direct Equity Investment By TPG

Parkway Properties, Inc.

announced today that TPG, a leading global private investment firm, has agreed to make a $200 million equity investment in Parkway at a price of $11.25 per share, which represents a 12% premium to the 30-day trailing average closing price of Parkway's common stock.  The Company intends to use the proceeds raised from this investment to pursue acquisitions based on the Company's new investment strategy.