Highwoods Properties Voluntarily Withdraws Series A Preferred Stock From Listing on NYSE

Highwoods Properties Inc. HIW, one of the largest owners and operators of office properties in the Southeast, today announced that it has elected to voluntarily withdraw its 8 5/8% Series A Cumulative Redeemable Preferred Shares from listing on the New York Stock Exchange. The Company decided to withdraw the listing for the following reasons: 1) there are only 29,092 shares currently outstanding, 2) there are a miniscule number of shareholders, and 3) the shares rarely trade, all of which did not justify the related ongoing expenses. The Company originally issued 125,000 Series A Preferred Shares at $1,000 per share on February 12, 1997, and, since 2007, has repurchased and retired 95,908 of these shares in private market transactions. These shares are redeemable in February 2027.