VANCOUVER, BRITISH COLUMBIA, Mar 23, 2010 (MARKETWIRE via COMTEX) --
MP Western Properties Inc.
/quotes/comstock/11v!mpw.h
(CA:MPW.H
0.05,
0.00,
0.00%)
, a Vancouver-based
real estate company, announces the results of operations for the year
ended December 31, 2009.

The Company is reporting net income from continuing operations of
$4,860,000 for the year ended December 31, 2009 compared to
$1,849,000 for the same period in 2008. Cash flow from continuing
operations before changes in non-cash balances for the year ended
December 31, 2009 is $5,532,000 compared to $3,610,000 for the same
period in 2008.

In 2009 the Company sold properties for total consideration of
$37,070,000. The Company had a gain on disposition of a real estate
property of $2,211,000 and gain a from disposition of real estate
property from discontinued operations of $8,444,000. The Company has
reflected the gain from the properties sold in which the Company has
no continuing interest as income from discontinued operations. The
net income from discontinued operations was $7,494,000.

The net income for the year ended December 31, 2009 was $12,354,000
compared to $2,175,000 for the same period in 2008.