JACKSON, Miss., Nov. 16 /PRNewswire-FirstCall/ -- Parkway Properties, Inc. announced today that it received the Silver award from the 2007 NAREIT Leader in the Light award program. The National Association of Real Estate Investment Trust, (NAREIT), in collaboration with ENERGY STAR(R), honored its member companies that have demonstrated superior and sustained energy use practices. The NAREIT Leader in the Light award recognizes company-wide operations which generate substantially improved energy efficiency and expense management.
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Steven G. Rogers, President and Chief Executive Officer stated, "Receipt of this award is important because it acknowledges the long-standing commitment and dedication by everyone on the Parkway team to energy conservation and environmental stewardship. One of our core Company values is to support the Communities in which we operate, which includes the protection of the environment through active and thoughtful conservation efforts, as well as encourage preservation and beautification efforts at every level."
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 66 office properties located in 11 states with an aggregate of approximately 13.0 million square feet of leasable space as of November 16, 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 November 16, 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
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