Madison Pacific Properties Inc. Announces the Results for the Six Months Ended February 28, 2013

Madison Pacific Properties Inc. (the Company) (TSX:MPC)(TSX:MPC.C) a
Vancouver-based real estate company announces the results of operations for the
six months ended February 28, 2013. The Company changed its year end from
December 31 to August 31 effective in 2012.


The results reported are pursuant to International Financial Reporting Standards
(IFRS) for public companies.


For the six months ended February 28, 2013 the Company is reporting net income
of $3.7 million; cash flows from operating activities, before changes in
non-cash operating balances, of $4 million; and income per share of $0.06.
Included in net income is a pre-tax net gain on fair value adjustment on
investment properties of $.6 million. 


The Company disposed of two Vancouver properties in the six month period, 7360
River Road and Rocky Point Park, for net proceeds of $15.2 million. 


Subsequent to February 28, 2013 the Company sold its interest in Lougheed Super
Centre for net consideration of $14.7 million and acquired a 50,566 sq. ft.
industrial property in Nanaimo, B.C. for $5.1 million.


The Company owns $277 million in investment properties comprising 1.5 million
rentable sq. ft. of industrial and commercial space. As at February 28, 2013
over 97% 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 August 31, 2012 annual MD&A.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Madison Pacific Properties Inc.
Mr. Marvin Haasen
President & CEO
[phone]
[phone] (FAX)


Madison Pacific Properties Inc.
Mr. Bill Ramsey
Investor Information
[phone]