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THE PARKWAY COMPANY OFFERS A COMMISSION-FREE SELLING/PURCHASING PROGRAM FOR ODD-LOT SHAREHOLDERS

JACKSON, Miss., Jan. 3 /PRNewswire/ -- The Parkway Company (Nasdaq: PKWY) announced today that it has retained Shareholder Communications Corporation to manage a Selling/Purchasing Program for shareholders who, as of December 18, 1995, owned fewer than 100 shares of Parkway Common Stock. Notice of the program will be mailed on or about January 5, 1996 to eligible shareholders and the scheduled expiration date of the program is March 20, 1996, unless extended by Parkway. The program allows eligible shareholders to sell all of their shares or purchase enough addition shares to reach exactly 100 Parkway shares without paying a brokerage commission. Shareholders electing to participate in the program will receive proceeds based on a weighted average sales price based on Parkway shares submitted through the program during one of four payout phases and sold in the open market by Robinson Humphrey, a division of Smith Barney, Inc. Parkway is offering the program to save annual servicing costs and to provide small shareholders with a convenient, commission-free method of selling or purchasing shares. Questions concerning the program should be directed to Shareholder Communications at 800-733-1665.

The Parkway Company is a real estate company headquartered in Jackson, Mississippi that invests principally in office buildings located in the Southeast and Southwest United States. Leland R. Speed, Chairman and Chief Executive Officer of Parkway, stated, "We are pleased to announce this program which will benefit our small shareholders and also pleased that the program introduces Robinson Humphrey, a wholly owned subsidiary of Smith Barney, Inc., as a new market maker for Parkway stock."

Greg Frascogna, Vice President and Branch Manager of Smith Barney in Jackson, stated, "I'm excited about the opportunity for the many interested buyers who were previously unable to locate stock due to the low trading volume of Parkway. This should help create additional liquidity for shareholders."
 -0- 1/3/96


/CONTACT: Steven G. Rogers, President or Sarah P. Clark, Chief Financial Officer, The Parkway Company, 601-948-4091/

(PKWY)

CO: The Parkway Company ST: Mississippi IN: SU:

BR-ME -- ATW009 -- 0414 01/03/96 12:41 EST
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Publication:PR Newswire
Date:Jan 3, 1996
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