Parkway Announces Special Meeting Of Stockholders

              Parkway Announces Special Meeting Of Stockholders

PR Newswire

ORLANDO, Fla., Oct. 30, 2013

ORLANDO, Fla., Oct. 30, 2013 /PRNewswire/ --Parkway Properties, Inc. (the
"Company") (NYSE:PKY) announced today that the Company will hold a Special
Meeting of its Stockholders (the "Special Meeting") on Tuesday, December 17,
2013, at 9:00 a.m. Eastern Time, on the 24th floor of the Bank of America
Center, 390 N. Orange Ave, Orlando, Florida 32801. The record date for
determination of stockholders entitled to vote at the Special Meeting has been
set as the close of business on Monday, November11, 2013. At the Special
Meeting, the Company's stockholders will vote on the previously announced
agreement and plan of merger pursuant to which Thomas Properties Group, Inc.
will merge with and into the Company in a stock-for-stock transaction, as well
as other related proposals.


About Parkway Properties

Parkway Properties, Inc. is a fully integrated, self-administered and
self-managed real estate investment trust specializing in the acquisition,
ownership and management of quality office properties in higher growth
submarkets in the Sunbelt region of the United States. Parkway owns or has an
interest in 46 office properties located in eight states with an aggregate of
approximately 13.3 million square feet at July 1, 2013. Parkway also offers
fee-based real estate services which manage and/or lease approximately 11.8
million square feet for third parties as of July 1, 2013. Additional
information about Parkway is available on the company's website at

Forward Looking Statement

Certain statements in this release that are not in the present or past tense
or discuss the Company's expectations (including the use of the words
anticipate, believe, forecast, intends, expects, project, or similar
expressions) are forward-looking statements within the meaning of the federal
securities laws and as such are based upon the Company's current belief as to
the outcome and timing of future events. Examples of forward-looking
statements include projected net operating income, cap rates, internal rates
of return, future dividend payment rates, forecasts of FFO accretion,
projected capital improvements, expected sources of financing, expectations as
to the timing of closing of acquisitions, dispositions, or other transactions,
including the Investment, and descriptions relating to these expectations.
There can be no assurance that future developments affecting the Company will
be those anticipated by the Company. These forward-looking statements involve
risks and uncertainties (some of which are beyond the control of the Company)
and are subject to change based upon various factors, including but not
limited to the following risks and uncertainties: changes in the real estate
industry and in performance of the financial markets; the actual or perceived
impact of U.S. monetary policy; the demand for and market acceptance of the
Company's properties for rental purposes; the ability of the Company to enter
into new leases or renewal leases on favorable terms; the amount and growth of
the Company's expenses; tenant financial difficulties and general economic
conditions, including interest rates, as well as economic conditions in those
areas where the Company owns properties; risks associated with joint venture
partners; the risks associated with the ownership and development of real
property; the failure to acquire or sell properties as and when anticipated;
termination of property management contracts; the bankruptcy or insolvency of
companies for which the Company provides property management services or the
sale of these properties; the outcome of claims and litigation involving or
affecting the Company; the ability to satisfy conditions necessary to close
pending transactions and the ability to successfully integrate pending
transactions; risks associated with acquisitions, including the integration of
Thomas Property Group, Inc.'s businesses; risks associated with achieving
expected synergies or cost savings; risks associated with the Company's
ability to consummate the mergers and the timing of the closing of the mergers
with Thomas Properties Group, Inc. and Thomas Properties Group, L.P.; and
other risks and uncertainties detailed from time to time in the Company's
Securities and Exchange Commission filings. Should one or more of these risks
or uncertainties occur, or should underlying assumptions prove incorrect, the
Company's business, financial condition, liquidity, cash flows and results
could differ materially from those expressed in the forward-looking
statements. Any forward looking statements speaks only as of the date on which
it is made. New risks and uncertainties arise over time, and it is not
possible for us to predict the occurrence of those matters or the manner in
which they may affect us. The Company does not undertake to update
forward-looking statements except as may be required by law.

Additional Information about the Proposed Merger and Where to Find It

In connection with the proposed merger transaction with Thomas Properties
Group, Inc. ("Thomas Properties"), the Company has filed with the SEC a
registration statement on Form S-4 that includes a joint proxy statement of
the Company and Thomas Properties that also constitutes a prospectus of
Parkway. The Company and Thomas Properties also plan to file other relevant
documents with the SEC regarding the proposed transaction. INVESTORS ARE URGED
IMPORTANT INFORMATION. You may obtain a free copy of the joint proxy
statement/prospectus and other relevant documents filed by the Company and
Thomas Properties with the SEC at the SEC's website at Copies of
the documents filed by the Company with the SEC will be available free of
charge on the Company's website at or by contacting Parkway
Investor Relations at (407) 650-0593. Copies of the documents filed by Thomas
Properties with the SEC will be available free of charge on Thomas Properties'
website at or by contacting Thomas Properties Investor Relations
at (213) 613-1900. The Company and Thomas Properties and their respective
directors and executive officers and other members of management and employees
may be deemed to be participants in the solicitation of proxies in respect of
the proposed transaction. You can find information about the Company's
executive officers and directors in the Company's definitive proxy statement
filed with the SEC on April 4, 2013. You can find information about Thomas
Properties' executive officers and directors in Thomas Properties' definitive
proxy statement filed with the SEC on April 30, 2013. Additional information
regarding the interests of such potential participants is included in the
joint proxy statement/prospectus and may be included in other relevant
documents filed with the SEC if and when they become available. You may obtain
free copies of these documents from the Company or Thomas Properties using the
sources indicated above. This document shall not constitute an offer to sell
or the solicitation of an offer to buy any securities, nor shall there be any
sale of securities in any jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. No offering of securities shall be
made except by means of a prospectus meeting the requirements of Section 10 of
the U.S. Securities Act of 1933.

Ted McHugh
Director of Investor Relations
(407) 650-0593

SOURCE Parkway Properties, Inc.

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