| Part I | ||||||||||||||||||||
| 1. | Date of notice to issuer | 31/12/2008 | ||||||||||||||||||
| 2. | Name of Substantial Shareholder | Tarrant Advisors, Inc. | ||||||||||||||||||
| 3. | 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 | ||||||||||||||||||||
| 1. | Date of change of Deemed Interest | 29/12/2008 | ||||||||||||||||||
| 2. | The change in the percentage level | From 14.00 % To 9.34 % | ||||||||||||||||||
| 3. | 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") and Newbridge Asia Advisors IV, Inc. ("NAA IV"). NAA III is deemed interested in the units held by TPG Parkway, LP and TPG Parkway IV, LP and NAA IV is deemed interested in the units held by TPG Parkway IV, LP. TPG Parkway, LP has disposed 27,948,852 units in Parkway Life REIT on 29 December 2008. Under Section 4 of the Securities and Futures Act (Chapter 289 of Singapore) ("SFA"), Tarrant Advisors, Inc. is deemed to be interested in the units in which NAA III and NAA IV have an interest. |
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| 4. | 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 | ||||||||||||||||||||
| 1. | Holdings of Substantial Shareholder, including direct and deemed interest : | |||||||||||||||||||
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