Parkway Announces Quarterly Dividends

                    Parkway Announces Quarterly Dividends

PR Newswire

ORLANDO, Fla., Nov. 8, 2012

ORLANDO, Fla., Nov. 8, 2012 /PRNewswire/ --Parkway Properties, Inc.
(NYSE:PKY) announced today that its Board of Directors declared a quarterly
dividend of $0.1125 per share payable on December 26, 2012, to shareholders of
record for Common Stock on December 12, 2012. This dividend is the 105th
consecutive quarterly distribution to Parkway's shareholders of Common Stock
and represents an annualized dividend rate of $0.45 per share.

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The Board of Directors also declared a quarterly dividend of $0.50 per share
payable on January 15, 2013, to shareholders of record for Series D Preferred
Stock on December 31, 2012.

About Parkway Properties

Parkway Properties, Inc., a member of the S&P Small Cap 600 Index, is a
self-administered real estate investment trust specializing in the ownership
of quality office properties in higher-growth submarkets in the Sunbelt region
of the United States. Parkway owns or has an interest in 38 office properties
located in nine states with an aggregate of approximately 10.0 million square
feet of leasable space at November 1, 2012. Fee-based real estate services
are offered through wholly owned subsidiaries of the Company, which in total
manage and/or lease approximately 11.6 million square feet for third-party
owners at November 1, 2012.

Parkway Properties, Inc.'s press releases and additional information about the
Company are available on the Company's website at

Thomas E. Blalock
Vice President of Investor Relations
(407) 650-0593

SOURCE Parkway Properties, Inc.

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