Parkway Announces Second Quarter 2012 Dividend

ORLANDO, Fla., May 17, 2012 /PRNewswire/ -- Parkway Properties, Inc. (NYSE:PKY) announced today that its Board of Directors declared a quarterly dividend of seven point five cents ($0.075) per share payable on June 27, 2012, to shareholders of record of Common Stock on June 13, 2012.  This dividend is the 103rd consecutive quarterly distribution to Parkway's shareholders of Common Stock and represents an annualized dividend rate of $0.30 per share.

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The Board of Directors also declared a quarterly dividend of fifty cents ($0.50) per share payable on July 16, 2012, to shareholders of record of Series D Preferred Stock on June 29, 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 43 office properties located in 10 states with an aggregate of approximately 10.0 million square feet of leasable space at May 3, 2012.  Fee-based real estate services are offered through wholly-owned subsidiaries of the Company, which in total manage and/or lease approximately 12.5 million square feet for third-party owners at May 3, 2012.

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

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

SOURCE Parkway Properties, Inc.

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