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Press release from Marketwire

Madison Pacific Properties Inc. Announces Resignation of CEO

Wednesday, June 27, 2012

Madison Pacific Properties Inc. Announces Resignation of CEO17:30 EDT Wednesday, June 27, 2012VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 27, 2012) - Madison Pacific Properties Inc. (TSX:MPC)(TSX:MPC.C) (the "Company") a Vancouver-based real estate company announced today that Alan Firth, its President and Chief Executive Officer, has tendered his resignation in order to pursue other interests. Mr. Firth will continue as Acting President and Chief Executive Officer until the Company concludes a search for a qualified replacement to ensure a smooth transition."Over the past 7 years, Alan has been instrumental in Madison Pacific's growth and I thank him for his leadership. The Board is reluctantly accepting Alan's resignation and will immediately begin the search for his replacement," said Sam Grippo, Chairman of the Company.FOR FURTHER INFORMATION PLEASE CONTACT: Mr. Alan FirthMadison Pacific Properties Inc.President(604) 732-6540(604) 732-6550 (FAX)ORMr. Bill RamseyMadison Pacific Properties Inc.Chief Financial Officer(604) 732-6540