ORLANDO, Fla., Jan. 24, 2014 /PRNewswire/ -- Parkway Properties, Inc. (NYSE: PKY) provided today the tax treatment for its 2013 distributions, as follows.

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                                           Common Stock (CUSIP #70159Q10-4, ticker symbol PKY on the NYSE):
                                                                                                                                   
                                                                                                                                   
                                                                                                                                                                                                                      
                                                                                                                                   Total                               Total         Unrecaptured
                                                                                                                                                                                                                      
    Record                                 Payment                                                                                 Distribution  Ordinary   Qualified  Capital Gain  Section 1250  Nondividend
                                                                                                                                                                                                                      
    Date                                   Date                                                                                    Per Share     Dividends  Dividends  Distribution  Gain (1)      Distributions (2)
    ----                                   ----                                                                                    ---------     ---------  ---------  ------------  -------       ----------------
                                                                                                                                                                                                                      
    03/13/13                                                                                                             03/27/13     $0.150000  $0.104163  $0.002266     $0.019504     $0.019504          $0.026333
                                                                                                                                                                                                                      
    06/12/13                                                                                                             06/26/13      0.150000   0.123667   0.002759      0.000000      0.000000           0.026333
                                                                                                                                                                                                                      
    09/11/13                                                                                                             09/25/13      0.150000   0.094056   0.002201      0.029611      0.029611           0.026333
                                                                                                                                                                                                                      
    12/12/13                                                                                                             12/26/13      0.187500   0.120562   0.002257      0.034023      0.034023           0.032915
                                                                                                                                                                                                                      
                                           Totals                                                                                     $0.637500  $0.442448  $0.009483     $0.083138     $0.083138          $0.111914
                                                                                                                                      =========  =========  =========     =========     =========          =========
                                                                                                                                                                                                                         


                                                                                                                                   
                                           Series D Preferred Stock (CUSIP #70159Q40-1, ticker symbol PKY PrD on the NYSE):
                                                                                                                                   
                                                                                                                                   
                                                                                                                                                                                                                      
                                                                                                                                   Total                               Total         Unrecaptured
                                                                                                                                                                                                                      
    Record                                 Payment                                                                                 Distribution  Ordinary   Qualified  Capital Gain  Section 1250  Nondividend
                                                                                                                                                                                                                      
    Date                                   Date                                                                                    Per Share     Dividends  Dividends  Distribution  Gain (1)      Distributions (2)
    ----                                   ----                                                                                    ---------     ---------  ---------  ------------  -------       ----------------
                                                                                                                                                                                                                      
    03/28/13                                                                                                             04/15/13     $0.500000  $0.434985  $0.009462     $0.065015     $0.065015          $0.000000
                                                                                                                                                                                                                      
                                                                                                                         04/25/13      0.133330   0.133330   0.002975      0.000000      0.000000           0.000000
                                                                                                                                                                                                                      
                                           Totals                                                                                     $0.633330  $0.568315  $0.012437     $0.065015     $0.065015          $0.000000
                                                                                                                                      =========  =========  =========     =========     =========          =========
                                                                                                                                                                                                                         

(1) Unrecaptured Section 1250 Gain is a subset of, and included in, the Total Capital Gain Distribution.
(2) Return of Capital

The Company did not incur any foreign taxes. Stockholders are urged to consult with their tax advisors as to their specific tax treatment of Parkway Properties, Inc. common and preferred distributions.

About Parkway Properties

Parkway Properties, Inc. is a fully integrated, self-administered and self-managed real estate investment trust specializing in the acquisition, ownership and management of quality office properties in higher growth submarkets in the Sunbelt region of the United States. Parkway owns or has an interest in 50 office properties located in eight states with an aggregate of approximately 17.6 million square feet at January 1, 2014. Parkway also offers fee-based real estate services which manage and/or lease approximately 12.2 million square feet for third parties as of January 1, 2014. Additional information about Parkway is available on the company's website at www.pky.com.

Contact:
Ted McHugh
Director of Investor Relations
(407) 650-0593

SOURCE Parkway Properties, Inc.