Mr. John Vincic reports

DUNDEE CORPORATION ANNOUNCES COMPLETION OF SHARE EXCHANGE TRANSACTION

Dundee Corp. has completed its previously announced share exchange transaction pursuant to which each first preference shares, Series 4, of the company was exchanged for: 0.7136 of a first preference share, Series 5, of the company; and 0.25 of a Class A subordinate voting share purchase warrant pursuant to a plan of arrangement under Section 182 of the Business Corporations Act (Ontario).

The Series 5 preferred shares and the warrants are each listed on the Toronto Stock Exchange under the symbols DC.PR.E and DC.WT, respectively, and will commence trading on the TSX at the opening of the market today.