Madison Pacific Properties Inc. (TSX:MPC)(TSX:MPC.C), a Vancouver-based real
estate company, announces the appointment of a new Chief Financial Officer.


Mr. Thor Olsen, Chief Financial Officer and Secretary, has advised The Board of
Directors of the Company that he is retiring. The Board would like to thank Mr.
Olsen for his valuable contribution to the Company over the past 10 years and
wishes him well in his retirement.


The Board of Directors is pleased to announce that Mr. William F. Ramsey will be
assuming the roll of Chief Financial Officer and Secretary effective May 1,
2008. Mr. Olsen will remain with the Company until May 30 to support a
successful transition of responsibilities.


Mr. Ramsey is a Chartered Accountant and has been employed as a Chief Financial
Officer in the real estate development and investment business for over 20
years.


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