DundeeWealth Inc.

DundeeWealth Inc.

May 11, 2006 13:14 ET

Dundee Wealth Announces Approval of Normal Course Issuer Bid

TORONTO, ONTARIO--(CCNMatthews - May 11, 2006) - Dundee Wealth Management Inc. ("Dundee Wealth") (TSX:DW) today announced that it has obtained regulatory approval to commence a normal course issuer bid to purchase up to a maximum of 4,984,080 of its common shares, representing approximately 5% of the 99,681,591 issued and outstanding common shares as of May 4, 2006, through the facilities of The Toronto Stock Exchange ("TSX"). The normal course issuer bid will commence on May 14, 2006 and will terminate on the earlier of the date on which Dundee Wealth completes its purchases pursuant to the normal course issuer bid and May 13, 2007. The purchases will be made in accordance with the Policies and rules of the TSX. The price paid for any common shares acquired will be the market price at the time of purchase and all common shares purchased under the normal course issuer bid will be cancelled.

Dundee Wealth purchased an aggregate of 501,400 common shares at an average price of $9.35 per share through the facilities of the TSX under a normal course issuer bid which commenced on May 14, 2005 and will expire May 13, 2006.

Dundee Wealth believes that the purchase of its common shares at current market values represents a good long-term investment for the Company.

Dundee Wealth is a Canadian owned, TSX listed wealth management company that creates innovative asset management and alternative investment products and provides investment management, securities brokerage, financial planning and investment advisory services to individuals, financial advisors, institutions, corporations and foundations. Dundee Wealth oversees $51.2 billion in assets under management and administration and 1,873 independent financial advisors and 517 insurance agents located in 643 branches across Canada.

Contact Information

  • Dundee Wealth Management Inc.
    Ned Goodman
    Chief Executive Officer
    (416) 365-5665
    Dundee Wealth Management Inc.
    Joanne Ferstman
    Chief Financial Officer
    (416) 365-5010