Highwoods Calls For Redemption Of 2.1M Preferred B at C$25/Share

Highwoods Properties, Inc. HIW, one of the largest owners and operators of office properties in the Southeast, today announced that it has called for the redemption of all of its remaining 8% Series B Cumulative Redeemable Preferred Shares HIW. The cash redemption price for the remaining 2,100,000 Series B Preferred Shares to be redeemed is $25.00 per share. Holders of the Series B Preferred Shares to be redeemed will receive accrued and unpaid dividends through the redemption date. The redemption date will be June 24, 2011. After the redemption date, dividends on the Series B Preferred Shares will cease to accrue. Payment of the redemption price will be made only upon presentation and surrender of certificates representing the Series B Preferred Shares to be redeemed to Wells Fargo Shareowner Services, the Company's transfer agent, at the address and during the business hours specified in the Notice of Redemption.