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Notice of Cessation Of Substantial Shareholding

Notice of Cessation Of Substantial Shareholding *

* Asterisks denote mandatory information

 

"DISCLAIMER:- This announcement was prepared and issued by the belowmentioned listed issuer to the Exchange. The Exchange assumes no responsibility for the correctness of any of the statements made, opinions expressed or reports contained in this announcement and is posting this announcement on SGXNET for the sole purpose of dissemination only. In the event of any queries or clarification required in respect of any matters arising from this announcement, such queries are to be made to the listed issuer directly and not to the Exchange. The Exchange shall not be liable for any losses or damages howsoever arising as a result of the circulation, publication and dissemination of this announcement."

Name of Announcer *	PARKWAYLIFE REIT
Company Registration No.	N.A.
Announcement submitted on behalf of	PARKWAYLIFE REIT
Announcement is submitted with respect to *	PARKWAYLIFE REIT
Announcement is submitted by *	June Tay
Designation *	Company Secretary, Parkway Trust Management Limited (as manager of Parkway Life REIT)
Date & Time of Broadcast	17-Sep-2007 17:39:46
Announcement No.	00072

>> Announcement Details

The details of the announcement start here ...

>> PART I

1.

Date of notice to issuer *

17-09-2007

2.

Name of Substantial Shareholder *

UBS AG

3.	Please tick one or more appropriate box(es): *
	Notice of a Change in the Percentage Level of a Substantial Shareholder's Interest or Cessation of Interest. [Please complete Part III and IV]

>> PART II

1.

Date of change of [Select Option]

2.

Name of Registered Holder

3.	Circumstance(s) giving rise to the interest or change in interest	[Select Option]
	# Please specify details

4.	Information relating to shares held in the name of the Registered Holder
	No. of [Select Option] held before the change   As a percentage of issued share capital %   No. of N.A. which are subject of this notice   As a percentage of issued share capital %   Amount of consideration (excluding brokerage and stamp duties) per share paid or received     No. of N.A. held after the change   As a percentage of issued share capital %

>> PART III

1.

Date of change of Interest

13-09-2007

2.

The change in the percentage level

From 9.41 % To 2.12 %

3.	Circumstance(s) giving rise to the interest or change in interest	# Others
	# Please specify details	(1) Pursuant to a unit lending agreement dated 7 August 2007 between Parkway Investments Pte Ltd ("PIPL)" and UBS AG, the latter had borrowed 43,329,000 units in Parkway Life REIT. The change in UBS AG's interest in Parkway Life REIT's units shares arises from redelivery of the borrowed units with units acquired through price stabilisation activities (32,232,000 units) and the partial exercise of the over-allotment option granted by PIPL (11,097,000 units). (2) Decrease in positions held on behalf of prime brokerage clients by 500,000 units.

4.

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

A series of transactions.

>> PART IV

1.	Holdings of Substantial Shareholder , including direct and deemed interest :

	Direct	Deemed
No. of shares held before the change	43,595,229	13,016,199
As a percentage of issued share capital	7.25 %	2.16 %
No. of shares held after the change	266,229	12,516,199
As a percentage of issued share capital	0.04 %	2.08 %

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 601,418,000 units in issue as at 23 August 2007. 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.