729237--3/16/2007--PARKWAY_PROPERTIES

related topics

{loan, real, estate}

{investment, property, distribution}

{provision, law, control}

{debt, indebtedness, cash}

{loss, insurance, financial}

{tax, income, asset}

{cost, regulation, environmental}

{condition, economic, financial}

Our performance is subject to risks inherent in owning real estate investments. The economic conditions of our primary markets affect our operations. Customer defaults could adversely affect our operations. Illiquidity of real estate may limit our ability to vary our portfolio. Our current and future joint venture investments could be adversely affected by our lack of sole decision-making authority, our reliance on joint venture partners' financial condition and any disputes that may arise between us and our joint venture partners. We are exposed to potential environmental liability. Uninsured and underinsured losses may adversely affect operations. We have existing debt and refinancing risks that could affect our cost of operations. A lack of any limitation on our debt could result in our becoming more highly leveraged. The cost and terms of mortgage financings may render the sale or financing of a property difficult or unattractive. We may amend our investment strategy and business policies without your approval. Loss of our tax status as a real estate investment trust would have significant adverse consequences to us and the value of our securities. There is a risk of changes in the tax law applicable to real estate investment trusts Limitations on the ownership of our common stock may preclude the acquisition or change of control of our company. Maryland business statutes may limit the ability of a third party to acquire control of us.

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729237--3/16/2007--PARKWAY_PROPERTIES_INC