Mr. John Vincic of Dundee reports

ACQUISITION OF SHARES OF MARITIME RESOURCES CORP.

In accordance with regulatory requirements, Dundee Corp.'s wholly owned subsidiary, Dundee Resources Ltd., has acquired 17,252,036 units of Maritime Resources Corp. at the price of 11 cents each for aggregate consideration of $1,897,723.96. Each unit consists of one common share and one-half of one share purchase warrant in the capital of the issuer. Each warrant is exercisable for the purchase of one share at a price of 15 cents for a period of 24 months. Additionally, an affiliate of Dundee acquired 1,165,154 finder warrants exercisable into one share at a price of 11 cents for a term of 24 months.

Immediately prior to the acquisition of securities described in this news release, Dundee and its affiliates owned or controlled 7,166,667 shares and warrants exercisable for the issuance of 2,083,333 shares, representing an approximate 7.26-per-cent interest in the issuer on an undiluted basis and 9.18-per-cent interest in the issuer on a partially diluted basis. Immediately following the transaction that triggered the requirement to file this news release, Dundee and its affiliates own or control an aggregate of 24,418,703 shares and warrants exercisable for the issuance of 11,874,505 shares, representing an approximate 18.54-per-cent interest on an undiluted basis and a 25.28-per-cent interest on a partially diluted basis. Dundee Resources provided an undertaking to the TSX Venture Exchange that it will not exercise warrants to the extent that such exercise would cause it to own more than 20 per cent of the then issued and outstanding shares of the issuer.

Dundee acquired the securities of the issuer for investment purposes only. Dundee intends to review, on a continuous basis, various factors related to its investment, including, but not limited to, the price and availability of the securities of the issuer, subsequent developments affecting the issuer or its business, and the general market and economic conditions. Based upon these and other factors, Dundee may decide to purchase additional securities of the issuer or may decide in the future to sell all or part of its investment.

This news release is being issued in accordance with National Instrument 62-103, The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, in connection with the filing of an early warning report. The early warning report respecting the acquisition will be filed on SEDAR under the issuer's profile. To obtain a copy of the early warning report filed by Dundee, please contact Dundee Corp., legal department, 1 Adelaide St. E, Suite 2000, Toronto, Ont., M5C 2V9 (telephone: 416-350-3388).

About Dundee Corp.

Dundee is a public Canadian independent holding company. Through its operating subsidiaries, Dundee is engaged in diverse business activities in the areas of investment advisory, corporate finance, energy, resources, agriculture, real estate and infrastructure. Dundee also holds, directly and indirectly, a portfolio of investments mostly in these key areas, as well as other select investments in both publicly listed and private enterprises.