Parkway Development Incorporated

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GALLERIA ANNOUNCES NEW COMMERCIAL OFFERINGS

August 02, 2006

Madison, MS., August 2, 2006 --- Dick Ambrosino, developer of GALLERIA, a 367-acre mixed-use master planned community located on Highway 463, slightly east of I-55, announced the ground breaking on a new office complex. Vienna Square at Galleria, will include two identical signature office buildings, and will be one of the largest Class A office structures in Madison with almost 300,000 square feet of space.

Each building will feature wrought iron balconies with a wonderful view of the Lifestyle Center, lobby amenities such as concession stands and coffee shops, state of the art security systems, separate service entrance and elevators, and lush foliage and landscaping. Each building will feature consistent Old World European architecture that will provide long-term value and appreciation well into the future.

Galleria is a premier Old World European inspired destination that encompasses exquisite residential, commercial and retail offerings. The development also includes two distinct residential communities, Fontanelle at Galleria, and Versailles Court at Galleria, a luxury condominium complex. Tuscany Place at Galleria, a European themed Life Style Center, will feature outdoor cafes and bistros, quaint boutiques, specialty stores and gourmet shops, all nestled in an accessible town square. Also within the master planned mixed-use community will be a flagship hotel.

“A touch of Europe has truly arrived in the heart of the South”. “Finally, you can experience the best of Old World European culture, great Southern living, and gracious hospitality that rivals any area in the country”, said Ambrosino.

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