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

BackJan 31, 2011
Part I
1. Date of notice to issuer 31/01/2011
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 26/01/2011
2. The change in the percentage level From 35.83 % To 35.80 %
3. Circumstance(s) giving rise to the interest or change in interest # Others

Transfer of units in Parkway Life Real Estate Investment Trust ("Parkway Life REIT") held by Parkway Trust Management Limited (the "Company") in its own capacity, to eligible employees of the Company pursuant to the awards granted to such employees under the Company's Long Term Incentive Plan.
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 0 216,731,414
As a percentage of issued share capital 0 % 35.83 %
No. of shares held after the change 0 216,596,414
As a percentage of issued share capital 0 % 35.80 %
Footnotes Notes:

Percentages calculated based on 604,970,414 issued units in Parkway Life REIT as at 21 January 2011.