Madison Pacific Properties Inc. (TSX:MPC), a Vancouver-based real estate
company, announces the results of operations for the year ended December 31,
2008.


The Company is reporting gross revenues from continuing operations of $20.3
million for 2008 compared to $19.9 million for 2007. EBITDA from continuing
operations is $12.7 million for 2008 compared to $12.0 million for 2007. Net
income for 2008 is $3.4 million compared to $5.6 million for 2007. Earnings per
share (basic and diluted) from continuing operations are 6 cents per share for
2008 compared to 10 cents per share (basic and diluted) for 2007.


Madison Pacific owns and manages 40 real estate properties comprising 1,607,000
sq. ft. of commercial and industrial space, 99% of which is located in Metro
Vancouver.
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