Madison Pacific Properties Inc. Announces the Results for the Nine Months Ended May 31, 2013

Madison Pacific Properties Inc. (TSX:MPC)(TSX:MPC.C) (the Company) a
Vancouver-based real estate company announces the results of operations for the
nine months ended May 31, 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 nine months ended May 31, 2013, the Company is reporting net income of
$7.0 million; cash flows from operating activities, before changes in non-cash
operating balances, of $5.9 million; and income per share of $0.12. Included in
net income is a pre-tax net gain on fair value adjustment on investment
properties of $2.3 million. 


In the nine month period ended May 31, 2013, the Company disposed of two
Vancouver properties, 7360 River Road and Rocky Point Park, for net proceeds of
$15.2 million and sold its interest in Lougheed Super Centre for net
consideration of $14.7 million. The Company has also acquired 200,000 sq. ft. of
industrial properties located in British Columbia, Alberta and Ontario for a
total of $22.5 million. 


In June 2013, the Company completed the sale of 3 units within its Main Street,
Whistler property for net proceeds of $1.9 million. 


The Company owns $295 million in investment properties comprising 1.7 million
rentable sq. ft. of industrial and commercial space. As at May 31, 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. Dino Di Marco
Investor Information
[phone]