Madison Pacific Properties Inc. announces the results for the six months ended February 28, 2021, declares special dividend and announces appointment of director - Seite 2

For a review of the risks and uncertainties to which the Company is subject see its most recently filed annual and interim MD&A.

The Company announced today that it has declared the payment of a special cash dividend of $0.34 per Class B voting common share and Class C non-voting share payable on May 4, 2021 to shareholders of record on April 23, 2021.

The amount of the special one-time dividend allows the Company to continue to pursue real estate opportunities while returning some capital to shareholders. The special dividend is in addition to any dividends that may be declared pursuant to the regular dividend policy of the Company.

The dividend is an eligible dividend for Canadian tax purposes.

The Board of Directors is also pleased to announce that Mr. John DeLucchi has been appointed to the Board of Directors of the Company. Mr. DeLucchi was recently appointed President and Chief Executive Officer of Madison Venture Corp. Before joining Madison Venture Corp., Mr. DeLucchi was a partner at PricewaterhouseCoopers LLP and was in the role of British Columbia Managing Partner from 2009 to 2017.

The Board of Directors are pleased to have Mr. DeLucchi join them and look forward to working with him.

Contact:	Mr. Marvin Haasen	Ms. Bernice Yip
	President & CEO	Investor Information
Telephone:	[phone]	[phone]
Fax:	[phone]
Address:	389 West 6th Avenue
	Vancouver, B.C.
	V5Y 1L1