JACKSON, Miss., Aug. 22 /PRNewswire-FirstCall/ -- Parkway Properties,
Inc.'s (NYSE: PKY) President and Chief Executive Officer, Steven G. Rogers,
rang The Closing Bell(SM) of the New York Stock Exchange (NYSE) today to
commemorate the Company's 10th anniversary of its listing on the Exchange.
Senior executives and directors of Parkway joined Rogers at the event.
(Logo: http://www.newscom.com/cgi-bin/prnh/20030513/PARKLOGO)
Mr. Rogers stated, "We are proud to mark our 10 year anniversary of
trading on the New York Stock Exchange with today's ceremony. We continue
to provide excellent customer service to the office industry and to build
our business around great people committed to best practices in all areas
of our Company. Our Company has grown steadily from 15 properties in August
of 1996 to 67 properties totaling 12.8 million square feet today, while
maintaining a strong financial position and delivering excellent returns to
our shareholders. In addition to these important financial accomplishments,
during this period we were fortunate to have been recognized with the Urban
Land Institute's Award of Excellence in 2002; by our employees in 2004 with
the designation among the Top 50 Best Small & Medium Companies to Work for
in America; and by our peers as one of 25 'A' List Companies in Buildings
magazine's 'Who's Who in the Buildings Market' for 2005."
Parkway Properties, Inc. listed for trading on the NYSE on August 22,
1996 with the first trade made at a price of $17.25 per share. Prior to its
listing on the NYSE, Parkway was traded in the over-the-counter market and
was listed on the NASDAQ National Market System since its inception in
1971. At the time of the original listing, Parkway had 4.2 million common
shares outstanding and a total equity market capitalization of
approximately $72.4 million. As of the close of business on August 22,
2006, Parkway was trading at a price of $47.96 per share, had 15.1 million
shares outstanding (including convertible preferred stock) and a total
equity market capitalization of approximately $725 million. An investment
of $10,000 in PKY as of the original NYSE listing would be worth
approximately $50,000 on August 22, 2006, which assumes all dividends were
reinvested in the stock. The internal rate of return represented by these
cash flows is approximately 19% before taxes.
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, acquisition, ownership, management, and leasing of office
properties. The Company is geographically focused on the Southeastern and
Southwestern United States and Chicago. Parkway owns or has an interest in
67 office properties located in 11 states with an aggregate of
approximately 12.8 million square feet of leasable space as of August 22,
2006. The Company also offers fee- based real estate services through its
wholly owned subsidiary, Parkway Realty Services, to its owned properties
and to its third party and minority interest properties.
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, both of
Parkway Properties, Inc., +1-601-948-4091
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