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Notice Of A Change In The Percentage Level Of A Substantial Shareholder's Interest

Part I
1.	Date of notice to issuer	05/11/2009
2.	Name of Substantial Shareholder	Parkway Holdings Limited
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 Interest	05/11/2009
2.	The change in the percentage level	From 35.66 % To 35.71 %
3.	Circumstance(s) giving rise to the interest or change in interest	# Others Issuance of 272,262 units to Parkway Trust Management Limited ("PTM"), a wholly-owned subsidiary of Parkway Holdings Limited, being payment of 20% of PTM's management fee, as Manager of Parkway Life REIT, for the period from 1 July 2009 to 30 September 2009.
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 :
	Direct Deemed No. of shares held before the change 0 215,303,005 As a percentage of issued share capital 0 % 35.66 % No. of shares held after the change 0 215,575,267 As a percentage of issued share capital 0 % 35.71 % Footnotes Notes: Where reference is made to shares, it refers to the units in Parkway Life REIT. UBS AG, acting through its business group, UBS Investment Bank ("UBS") was the sole financial advisor and manager to the initial public offering. Citigroup Global Markets Singapore Pte. Ltd. and UBS were the joint global co-ordinators, joint bookrunners and joint lead underwriters to the initial public offering of Parkway Life REIT. Percentages calculated based on 603,736,267 issued units in Parkway Life REIT as at 5 November 2009.