Dundee Corporation and Dundee Energy Limited Announce Completion of Acquisition of Torque Energy Inc. by Dundee Energy

Dundee Corporation (TSX:DC.A)(TSX:DC.PR.A)(TSX:DC.PR.B) ("Dundee Corp." or the
"Company") and Dundee Energy Limited (TSX:DEN) ("Dundee Energy") announce the
completion of the acquisition of Torque Energy Inc. by Dundee Energy. In
connection therewith and in accordance with regulatory requirements, Dundee
Corp. announced that it has acquired, pursuant to a private placement, 7,243,280
common shares of Dundee Energy at a price of $0.83 per common share. In
addition, Dundee Corporation tendered its interest in Torque Energy Inc.
pursuant to the transaction and received 1,344,073 common shares of Dundee
Energy. In aggregate, the Company now owns directly and indirectly an
approximate 56.61% interest in Dundee Energy.


The position in Dundee Energy 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.

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