Dundee Corporation Acquires Interest in Dundee International Real Estate Investment Trust

In accordance with regulatory requirements, Dundee Corporation
(TSX:DC.A)(TSX:DC.PR.A)(TSX:DC.PR.B) ("Dundee") announced today that it has
acquired, directly and indirectly, 12,000,000 units of Dundee International Real
Estate Investment Trust ("Dundee International REIT") pursuant to its initial
public offering for aggregate consideration of $120 million. In addition, in
connection with the founding and organization of Dundee International REIT, a
subsidiary of Dundee previously acquired 800,000 units. In the aggregate, these
holdings represent a 32.16% interest in Dundee International REIT.


The position in Dundee International REIT 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.

Dundee (TSX:DC.PR.B)
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