Madison Pacific Properties Inc. (the Company) (TSX:MPC)(TSX:MPC.C) a
Vancouver-based real estate company announces the results of operations for the
three and six months ending June 30, 2011.


The results reported incorporate changes required pursuant to International
Financial Reporting Standards (IFRS).


For the six months ending June 30, 2011 the Company is reporting net income for
the period of $6.6 million (2010: $10.3 million); cash flow from continuing
operations before changes in non-cash operating working capital of $2.3 million
(2010: $3.2 million); and income per share of $0.07 (2010: $0.12). 


The Company sold two investment properties in the second quarter of 2011
resulting in a gain on disposition of investment properties before tax of $3.1
million. 


The decrease in net income for the six months ending June 30, 2011 is largely
attributable the decrease in the net gain on fair value adjustment on investment
properties of $1.8 million (2010: $7.5 million) offset by the gain on
disposition of investment property of $3.1 million (2010: $1.5 million). 


As at June 30, 2011 the Company owned over $217.3 million in investment
properties comprising 1.36 million rentable sq. ft. of industrial and commercial
space of which 99% was leased. 


For a review of the risks and uncertainties to which the Company is subject, see
the December 31, 2010 annual MD&A.


The Company is pleased to announce $0.0525 cents per share dividend will be
payable September 1, 2011 to shareholders of record August 17, 2011.
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