Madison Energy Corp. Announces Normal Course Issuer Bid

MADISON ENERGY CORP., ("Madison") (TSX VENTURE:MDC) is pleased to announce that
the TSX Venture Exchange has accepted notice of a normal course issuer bid.


The notice provides that Madison may, during the 12 month period commencing
December 1, 2008 and ending November 30, 2009, purchase on the TSX Venture
Exchange up to 2,053,647 common shares, being approximately 10% of the public
float of the common shares of Madison. The price which Madison will pay for any
such shares will be the market price at the time of acquisition. The actual
number of common shares which may be purchased and the timing of any such
purchases will be determined by Madison. There are 25,995,516 common shares of
Madison currently outstanding. Madison has maintained the Normal Course Issuer
Bid since October 2006 during which time Madison has acquired 2,472,000 shares.
Currently 396,000 repurchased shares have yet to be returned to treasury.


Madison believes that its common shares have been trading in a price range which
does not adequately reflect their value in relation to Madison's business and
its future business prospects. As a result, depending upon future price
movements and other factors, Madison believes that its outstanding common shares
may represent an attractive investment and a desirable use of a portion of its
available funds.


Madison is a Canadian-based corporation engaged in the acquisition, exploration
and development of resource properties. Common Shares of the Company trade on
the TSX Venture Exchange under the trading symbol "MDC".