DC.PR.B Dundee Corporation

In accordance with regulatory requirements, Dundee Corporation (TSX: DC.A)(TSX: DC.PR.A)(TSX: DC.PR.B) ("Dundee") announced today that it will acquire 27,566,638 common shares ("Shares") of Leisure Canada Inc. ("Leisure") under Leisure's previously announced rights offering. Upon completion of the rights offering on July 18, 2011, Dundee will own, in the aggregate, 48,028,138 Shares of Leisure, representing 23.13% of the outstanding Shares.

The position in Leisure 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.

Contacts: Dundee Corporation Ned Goodman President and Chief Executive Officer (416) 365-5665 Dundee Corporation Lucie Presot Vice President and Chief Financial Officer (416) 365-5157