DundeeWealth Inc.

DundeeWealth Inc.

March 22, 2005 08:53 ET

Dundee Wealth Completes $50 Million Financing




MARCH 22, 2005 - 08:53 ET

Dundee Wealth Completes $50 Million Financing

TORONTO, ONTARIO--(CCNMatthews - March 22, 2005) - Not for distribution
to United States newswire services or for dissemination in the United

Dundee Wealth Management Inc. (TSX:DW) announced today that it has
completed its previously announced bought deal public offering of common
shares, which, following the underwriters' exercise of their option to
acquire additional shares, resulted in the issuance and sale of
4,950,000 common shares at a price of $10.10 per share for gross
proceeds of $49,995,000. The offering was underwritten by a syndicate of
underwriters led by GMP Securities Ltd. and Dundee Securities
Corporation and including Scotia Capital Inc., RBC Dominion Securities
Inc., Canaccord Capital Corporation, Wellington West Capital Markets
Inc. and Sprott Securities Inc.

Dundee Wealth used the gross proceeds from the offering to subscribe for
additional securities in its principal subsidiary DWM Inc. As a result,
Dundee Wealth's interest in DWM Inc. has increased to 84.5%. The Caisse
de depot et placement du Quebec, which now holds a 15.5% interest in DWM
Inc., has the right to subscribe for additional shares of DWM Inc. so as
to maintain its previous proportionate interest in DWM Inc. of 16.3%.
The net proceeds from the offering will be used to finance growth
opportunities and for other general corporate purposes.

The Dundee Wealth common shares issued under this offering have been
offered by way of a short form prospectus in all of the provinces of
Canada. This press release is not an offer of common shares for sale in
the United States. The common shares have not been and will not be
registered under the United States Securities Act of 1933 and may not be
offered or sold in the United States absent such registration or an
exemption therefrom.

Dundee Wealth is a Canadian owned, TSX listed wealth management company
that provides investment management, securities brokerage, financial
planning and investment advisory services to individuals, financial
advisors, institutions, corporations and foundations. Dundee Wealth
oversees $42.7 billion in assets under management and administration and
2,618 independent financial advisors and insurance agents located in 684
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