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Press release from Marketwire

Madison Pacific Properties Inc. Declares Special Dividend

Monday, September 26, 2011

Madison Pacific Properties Inc. Declares Special Dividend13:14 EDT Monday, September 26, 2011VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 26, 2011) - Madison Pacific Properties Inc. (the "Company") (TSX:MPC)(TSX:MPC.C), a Vancouver-based real estate company announced today that it has declared the payment of a special cash dividend of $0.35 per Class B common voting share and Class C non-voting share to shareholders of record on October 6, 2011. The dividend will be paid on or about October 20, 2011.The amount of the special one-time dividend allows the Company to continue to pursue real estate opportunities while returning some capital to shareholders. The special dividend is in addition to any dividends that may be declared pursuant to the regular dividend policy of the Company. The dividend is an eligible dividend for Canadian tax purposes.FOR FURTHER INFORMATION PLEASE CONTACT: Mr. Alan FirthMadison Pacific Properties Inc.President(604) 732-6540ORMr. Bill RamseyMadison Pacific Properties IncChief Financial Officer(604) 732-6540(604) 732-6550 (FAX)