September 25, 2007 09:41 ET

DundeeWealth Comments on Releases from CI Financial and Dundee Corporation

TORONTO, ONTARIO--(Marketwire - Sept. 25, 2007) - DundeeWealth (TSX:DW) said today that it has taken notice of a press release issued by CI Financial on September 24, 2007 announcing that company's intention to make an unsolicited offer to the shareholders of DundeeWealth to purchase all of the common shares of DundeeWealth.

DundeeWealth has also noted Dundee Corporation's release of today's date indicating that the Corporation's board cannot accept the terms and conditions proposed by CI Financial.

As announced on September 18, 2007, DundeeWealth has entered into agreements with The Bank of Nova Scotia providing for DundeeWealth's sale of its banking unit and the issuance by DundeeWealth of shares giving The Bank of Nova Scotia an approximate 18% equity interest in DundeeWealth.

The completion of that transaction has certain conditions of closing most of which relate to obtaining regulatory approvals which are expected to be obtained. DundeeWealth continues to work toward the completion of those agreements which have been previously announced in accordance with their terms.

DundeeWealth is a Canadian owned, diversified wealth management company. Through its various subsidiaries DundeeWealth creates innovative asset management, alternative investments and provides investment solutions. In addition, DundeeWealth provides capital markets and advisory services to financial advisors, institutions, corporations and foundations, and provides retail banking services through financial advisors. DundeeWealth oversees $62.6 billion in assets under management and administration through independent financial advisors across Canada. It is listed on the Toronto Stock Exchange (TSX:DW).

Contact Information

  • DundeeWealth Inc.
    Robert Pattillo
    Chief Brand and Communications Officer
    (416) 365-6466