Madison Pacific Properties Inc. (Madison) is a Canada-based company. The Company is in the business of acquiring, developing and managing revenue producing industrial and commercial real estate properties in British Columbia. As of December 31, 2008, the Company’s property portfolio is consisted of interests in 1,170,023 square feet of net rentable area of industrial properties, 355,127 square feet of net rentable area of retail/highway commercial properties, and 81,434 square feet of net rentable area of office property for a combined total of 1,606,584 square feet. As of December 31, 2008, Madison’ Industrial Property Portfolio had an occupancy rate of 97.3%, its Retail/Highway-Commercial Property Portfolio had an occupancy rate of 91.9%, and its Office Property Portfolio had an occupancy rate of 100%. Overall occupancy at December 31, 2008 was 95.9%.