Parkway Appoints Bill Hosler to Board of Directors

ORLANDO, Fla., Oct. 4, 2012 /PRNewswire/ -- Parkway Properties, Inc. (NYSE: PKY) announced today that C. William (Bill) Hosler has been appointed to the Company's Board of Directors effective today. Mr. Hosler was designated to serve on the Board by TPG pursuant to the Stockholders Agreement executed in June 2012 in connection with TPG's $200 million investment in Parkway.

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James Heistand, Parkway's President and Chief Executive Officer, stated, "We are delighted to have Bill join our board. His strong financial background and experience in the industry will be greatly beneficial to the Board as we strive to make Parkway one of the leading operators of office properties in our markets."

Mr. Hosler currently serves as Chief Financial Officer of Catellus Development Corporation, a national leader in mixed-use development based in Oakland, California. Prior to his current role at Catellus Development Corporation, Mr. Hosler served as Chief Financial Officer of Catellus from 1999 to 2005. Prior to Catellus, he was Chief Financial Officer of the Morgan Stanley Real Estate Funds where he served on the Investment Committee. In total, he spent nine years at Morgan Stanley in various structured finance and capital markets areas. Mr. Hosler received his bachelor of science degree in chemical engineering from the University of Notre Dame and his master of business administration from the Colgate Darden Graduate School of Business at the University of Virginia.

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 39 office properties located in 9 states with an aggregate of approximately 10.3 million square feet of leasable space at August 8, 2012. Fee-based real estate services are offered through wholly-owned subsidiaries of the Company, which in total manage and/or lease approximately 11.9 million square feet for third-party owners at August 8, 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.