Dundee Corporation Acquires Interest in IOU Financial Inc.

In accordance with regulatory requirements, Dundee Corporation
(TSX:DC.A)(TSX:DC.PR.A)(TSX:DC.PR.B) ("Dundee") announced today that it has
acquired, pursuant to a private placement, 2,500,000 units (each a "Unit") of
IOU Financial Inc. ("IOU Financial") at a price of $0.40 per Unit. Each Unit is
comprised of one Class B common share in the capital of IOU Financial (each a
"Share") and one Class B common share purchase warrant ("Warrant"). Each Warrant
entitles the holder to purchase one Share at an exercise price of $0.50 for a
period of 12 months from the date of closing. This holding represents an
approximate 9.47% interest in IOU Financial on an undiluted basis or an
approximate 17.30% interest assuming the conversion of all Warrants.


The position in IOU Financial 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.