JACKSON, Miss., Aug. 3 /PRNewswire-FirstCall/ -- Parkway Properties,
Inc. (NYSE: PKY) announced today that its Board of Directors has authorized
the repurchase of up to 1,700,000 shares of Parkway's outstanding common
stock through July 30, 2008. The shares may be purchased in the open market
or in privately negotiated transactions, and at times and in amounts that
the Company deems appropriate.
(Logo: http://www.newscom.com/cgi-bin/prnh/20030513/PARKLOGO )
Parkway Properties, Inc., a member of the S&P Small Cap 600 Index, is a
self-administered real estate investment trust specializing in the
operation, leasing, acquisition, and ownership of office properties. The
Company is geographically focused on the Southeastern and Southwestern
United States and Chicago. Parkway owns or has an interest in 65 office
properties located in 11 states with an aggregate of approximately 12.9
million square feet of leasable space as of August 3, 2007. Included in the
portfolio are 18 properties totaling 2.7 million square feet that are owned
jointly with other investors, representing 21% of the portfolio. Under the
Company's GEAR UP Plan, which started January 1, 2006 and ends December 31,
2008, it is the Company's strategy to transform from an owner-operator to
an operator-owner. The strategy highlights the Company's strength in
providing excellent service in the operation of office properties in
addition to its direct ownership of real estate assets. Fee-based real
estate services are offered through the Company's wholly owned subsidiary,
Parkway Realty Services, which also manages and/or leases approximately 1.8
million square feet for third party owners as of August 3, 2007.
Parkway Properties, Inc.'s press releases and additional information
about the Company are available on the World Wide Web at
http://www.pky.com.
CONTACT: STEVEN G. ROGERS
PRESIDENT & CHIEF EXECUTIVE OFFICER
WILLIAM R. FLATT
CHIEF FINANCIAL OFFICER
(601) 948-4091
SOURCE Parkway Properties, Inc.
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Related links:
http://www.pky.com/
Photo Notes:
NewsCom: http://www.newscom.com/cgi-bin/prnh/20030513/PARKLOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, photodesk@prnewswire.com
http://www.prnewswire.com/comp/103115.html/
CONTACT:
Steven G. Rogers, President & Chief Executive
Officer, or William R. Flatt, Chief Financial Officer, of Parkway
Properties, Inc., +1-601-948-4091
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