JACKSON, MS (REIT Meida) March 26, 2008 - Parkway Properties, Inc. (NYSE: PKY) announced today that it will release first quarter earnings on May 5, 2008 and will hold its first quarter conference call on May 6, 2008 at 11:00 a.m. Eastern Time. The Company's earnings release and supplemental information package will be posted to the Company's website prior to the conference call.

You may participate in Parkway's first quarter earnings conference call by dialing 877-879-6243 five to ten minutes prior to the scheduled start time. A visual presentation will accompany the call and can be viewed at http://www.pky.com and then by selecting the "1Q call" icon. A live audio webcast will be available by selecting the webcast icon on the Company's website. A taped replay of the call can be accessed 24 hours a day through May 16, 2008 by dialing 888-203-1112, and using the passcode of 7487141. An audio replay will also be archived and indexed in the Investor Relations section of the Company's website at http://www.pky.com.

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 69 office properties located in 11 states with an aggregate of approximately 14.1 million square feet of leasable space as of March 26, 2008. Included in the portfolio are 21 properties totaling 3.8 million square feet that are owned jointly with other investors, representing 27.2% 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 March 26, 2008.

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: MANDY M. POPE

              CHIEF FINANCIAL OFFICER
              (601) 948-4091