Madison Pacific Properties Inc. (TSX:MPC)(TSX:MPC.C) (the Company), a
Vancouver-based real estate company, announces the results of operations for the
three months ended March 31, 2012.


The Company is reporting net income attributable to shareholders of the Company
of $5.7 million for the period (2011: $2.7 million); cash flows from operating
activities, before changes in non-cash operating balances, of $1.8 million
(2011: $1.4 million); and income per share of $0.10 (2011: $0.05).


The net income for 2012 includes a pre-tax gain on fair value adjustment on
investment property of $5.0 million (2011: $1.7 million).


The Company owns over $285 million in investment properties comprising of 1.63
million rentable sq. ft. of industrial and commercial space. As at March 31,
2012 over 99% of the available space, excluding property that was under
development was leased.


For a review of the risks and uncertainties to which the Company is subject see
the December 31, 2011 annual MD&A.
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