Madison Pacific Properties Inc. Announces Appointment of President and CEO

Madison Pacific Properties Inc. (TSX:MPC)(TSX:MPC.C), a Vancouver-based real estate company, is pleased to announce the appointment of Mr. Marvin Haasen as its new President and Chief Executive Officer. Mr. Haasen is also joining the Board of Directors.

Mr. Haasen has over 27 years of experience in the real estate industry. Upon finishing his education, Mr. Haasen spent 12 years working in Toronto for prominent real estate developers and investors. In 1994 he joined Lend Lease Real Estate Investments where he spent 12 years in Canada and Asia, most recently as Director of Acquisitions and Fund Manager for a $350 million real estate fund. In 2006 Mr. Haasen relocated to Vancouver, where he set up his own real estate advisory firm, assisting high net worth individuals invest in commercial real estate. He holds an Honours Bachelor degree from the University of Western Ontario (Urban Development Program) and a Masters in Business Administration from the University of Toronto.

Contacts: Madison Pacific Properties Inc. Mr. Marvin Haasen President [phone] Madison Pacific Properties Inc. Mr. Bill Ramsey Chief Financial Officer [phone] [phone] (FAX)