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News

Notice Of Cessation Of Substantial Shareholding

BackDec 31, 2008

Part I

Date of notice to issuer

31/12/2008

Name of Substantial Shareholder

Blum G.A. III, LLC

Notice Type

Notice of a Change in the Percentage Level of a Substantial Shareholder's Interest or Cessation of Interest.

Part II - Not Required

Part III

Date of change of Deemed Interest

29/12/2008

The change in the percentage level

From 9.45 % To 4.81 %

Circumstance(s) giving rise to the interest or change in interest

# Others

Deemed interest by virtue of being associated with Newbridge Asia Advisors III, Inc. ("NAA III").

NAA III is deemed interested in the units held by TPG Parkway, LP and TPG Parkway III, LP in Parkway Life REIT ("PREIT") and TPG Parkway, LP has disposed 27,948,852 units in PREIT on 29 December 2008. Under Section 4 of the Securities and Futures Act (Chapter 289 of Singapore) ("SFA"), Blum G.A. III LLC is deemed to be interested in the units in PREIT in which NAA III has an interest.

A statement of whether the change in the percentage level is the result of a transaction or a series of transactions:

A transaction.

Part IV

Holdings of Substantial Shareholder, including direct and deemed interest :

	Direct	Deemed
No. of shares held before the change	0	56,893,264
As a percentage of issued share capital	0 %	9.45 %
No. of shares held after the change	0	28,944,412
As a percentage of issued share capital	0 %	4.81 %
Footnotes	Note: 1) Where reference is made to shares, it refers to the units in Parkway Life REIT. 2) The percentage of issued units held is calculated based on 602,347,258 units in issue as at 31 December 2008. Citigroup Global Markets Singapore Pte. Ltd. and UBS AG, acting through its business group, UBS Investment Bank were the joint global co-ordinators, joint bookrunners and joint lead underwriters to the initial public offering of Parkway Life REIT.