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Press release from Marketwire

Madison Pacific Properties Inc. Announces First Quarter Results

Tuesday, June 14, 2011

Madison Pacific Properties Inc. Announces First Quarter Results15:03 EDT Tuesday, June 14, 2011VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 14, 2011) - Madison Pacific Properties Inc. (the Company) (TSX:MPC)(TSX:MPC.C), a Vancouver-based real estate company, announces the results of operations for the 3 months ended March 31, 2011.The results reported incorporate changes required pursuant to International Financial Reporting Standards (IFRS).For the first quarter 2011 the Company is reporting net income for the period of $2,704,000 (2010: $3,680,000); cash flow from continuing operations before changes in non-cash operating working capital of $1,380,000 (2010: $1,485,000); and income per share of $0.05 (2010: $0.06).The decrease in net income is largely due to a gain of $1,466,000, before income tax, on the disposition of investment property realized in 2010. There was no sale of investment property in the first quarter of 2011.As at March 31, 2011 the Company owned over $225 million in real estate assets comprising 1.4 million rentable sq. ft. of industrial and commercial space of which 99% was leased.FOR FURTHER INFORMATION PLEASE CONTACT: Mr. Alan FirthMadison Pacific Properties Inc.President & CEO(604) 732-6540(604) 732-6550 (FAX)ORMr. Bill RamseyMadison Pacific Properties Inc.Investor Information(604) 732-6540