Madison Pacific Properties Inc.
TSX : MPC

August 10, 2007 19:14 ET

Madison Pacific Properties Inc. Announces Second Quarter Results

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 10, 2007) - Madison Pacific Properties Inc. (TSX:MPC) a Vancouver-based real estate company announces the results of operations for the 3 months ended June 30, 2007.

The Company is reporting net income from continuing operations of $2,022,000 for the second quarter 2007 compared to $968,000 for the second quarter 2006. Cash flow from operations before changes in non-cash working capital for the second quarter 2007 is $1,693,000 compared to $1,661,000 for the second quarter 2006. Earnings per share were $0.04 per share for the second quarter 2007 compared to $0.02 per share for the second quarter 2006.

As previously announced, a 5.25 cents per share dividend will be payable August 29, 2007 to shareholders of record August 15, 2007.

The Company owns over $153,000,000 in real estate assets comprising 1,492,000 rentable sq. ft. of commercial and industrial space of which 96.5% is leased.

Contact Information

  • Madison Pacific Properties Inc.
    Mr. Alan Firth
    President
    (604) 732-6540
    or
    Madison Pacific Properties Inc.
    Mr. Thor Olsen
    Chief Financial Officer
    (604) 732-6540
    (604) 732-6550 (FAX)