Ms. Lucie Presot of Dundee reports

DUNDEE CORPORATION ACQUIRES FURTHER INTEREST IN XYLITOL CANADA INC.

In accordance with regulatory requirements, Dundee Corp. has acquired, through a wholly owned subsidiary, four million common shares of Xylitol Canada Inc. in a private placement at a price of 25 cents per common share.

Dundee currently owns or controls 25,651,901 common shares and 4,444,444 warrants in the capital of Xylitol representing an approximate 27.55-per-cent interest or 30.85 per cent assuming the exercise of all warrants.

The position in Xylitol was acquired for investment purposes and may be increased or decreased in the future as considered appropriate in light of investment criteria, market conditions and other factors and in accordance with the provisions of applicable securities legislation.