Parkway Development Incorporated

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GALLERIA SETS NEW STANDARD FOR PLANNED COMMUNITIES

July 17, 2006

Madison, MS., July 17, 2006 --- Dick Ambrosino, CEO of Parkway Development, Inc, is bringing a touch of Old World European charm to the city of Madison. His new mixed-use master planned community, Galleria is a multi-million dollar commercial and residential development. Galleria will be conveniently located off Highway 463, slightly east of I-55. The development will include 367 acres of custom-built homes, luxury condominiums, retail stores, restaurants, office space and recreational areas nestled along Galleria Parkway.

Galleria is a premier Old World European inspired destination that encompasses exquisite residential, commercial and retail offerings. There will be two distinct residential communities including Fontanelle at Galleria, an enclave of custom-built homes located among a beautiful botanical fountain that is one of the focal points of the residential area. Luxury condominiums, designed for those who want a different residential experience, will be masterfully integrated into a European themed Life Style Center, Tuscany Place, featuring outdoor cafes and bistros, quaint boutiques, specialty stores and gourmet shops, all nestled in an assessable town square. Also within the master planned mixed-use community will be a flagship hotel, a variety of commercial office space, and a power center shopping center, Madison Crossing, consisting of leading large retailers that will sell everyday items from food to clothing, and more.

“Galleria will be the place to live, work, shop and dine”, according to Ambrosino and Buck Covington, the President of Marketing for the firm. With its lush open green spaces, two sculptured lakes with floating fountains, a one of a kind lifestyle center, and the overall Old World European influence, Galleria will be very different from other planned communities in the area.

“Galleria is a touch of Old World European charm in the heart of the South. It will quickly emerge as one of Madison’s most desirable places to live, work, visit and play,” said Ambrosino. The development has strong financial backing, major retailers, experienced builders, close proximity to I-55, a commitment to quality amenities and offerings, a unique lifestyle experience, and an extraordinary vision.”

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