MPC.C Madison Pacific Properties Inc

Madison Pacific Properties Inc. (TSX:MPC)(TSX:MPC.C) a Vancouver-based real
estate company announces that it has completed the sale of two properties for
proceeds of approximately $40 million. These sales were previously announced in
the second quarter release of the Company.


The properties sold included the 5.7 acres of land the Company owned at Lougheed
Highway and Willingdon Ave. in Burnaby British Columbia. As a condition of the
sale of property the Company will provide vendor financing for $27.75 million
repayable over the next three years at $9.25 million per year plus interest. The
purchaser has granted the Company security over the property which will rank
behind construction loans.


This press release contains forward-looking statements regarding the future
success of Madison's business that are subject to risk and uncertainties.
Examples of such forward-looking statements include the collectible of the
$27.75 million vendor financing. Forward looking information typically contain
statements with words such as "expect", "believe", "plan", "forecast", "intend"
or similar words suggesting future outcomes. These forward-looking statements
involve known and unknown risk and uncertainties that may cause Madison's actual
results, performance or achievements to be materially different from any future
results, performance or achievements expressed or implied in these
forward-looking statements. These risks include that the purchaser of the
Lougheed and Willingdon property may not be able to repay the principal and
interest as the amounts become due and/or the security given against the
financing is not adequate to cover the unpaid balance and the risks and
uncertainties described in the Company's 2008 annual report and second quarter
MD&A. Although the forward-looking statements contained herein are based upon
what management believes to be current and reasonable assumptions, Madison
cannot assure readers that the actual results will be consistent with these
forward-looking statements. The forward-looking statements contained herein are
made as of the date of this press release and are expressly qualified in their
entirety by this cautionary statement. Except as required by law, the Company
undertakes no obligation to publicly update or revise any such forward-looking
statements to reflect in its expectations or in events, conditions or
circumstances on which any such forward-looking statements may be based, or that
may affect the likelihood that actual results from those set forth in the
forward-looking statements.

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