Dundee Corporation Reports First Quarter 2010 Results

Dundee Corporation (TSX:DC.A)(TSX:DC.PR.A)(TSX:DC.PR.B) ("Dundee" or the
"Company") is pleased to announce that it has posted its financial results and
Management's Discussion and Analysis for the quarter ended March 31, 2010 on its
website www.dundeecorporation.com and on the System for Electronic Document
Analysis and Retrieval ("SEDAR") at www.sedar.com.


Our operating EBITDA for the three months ended March 31, 2010 was $91.4
million, well in excess of operating EBITDA of $32.5 million earned during the
same period of 2009. Net earnings per share during the quarter were $0.27 on a
fully diluted basis, as compared to a net loss of $0.11 per share incurred in
the first quarter of the prior year.


Assets under management and administration in our wealth management subsidiary,
DundeeWealth Inc. were $72.3 billion. Through its Dynamic family of funds,
DundeeWealth led the industry in net sales overall and ranked first among all
other independent wealth managers in net sales of long-term funds, as reported
by the Investment Funds Institute of Canada. DundeeWealth's industry-leading
sales momentum, coupled with strong performance of core mutual funds, increased
mutual fund market share to 3.99% at March 31, 2010, compared with 3.76% at the
end of 2009 and 3.13% at the end of the first quarter of the prior year. During
the first quarter of 2010, DundeeWealth earned operating EBITDA of $74.5
million, including a pre-tax gain of $18.6 million pertaining to the disposition
of certain of its investments in collateralized loan obligations.


Our real estate subsidiary, Dundee Realty Corporation, generated operating
EBITDA of $20.1 million in the first quarter of this year, a 60% improvement
over operating EBITDA of $12.4 million earned in the first quarter of the prior
year, reflecting continued strong demand for, and increased sales of our real
estate products. Our real estate segment also includes the operating results of
our real-estate investment and asset management division, DREAM, with $3.6
billion of assets under management at March 31, 2010. 


Propelled by our share of earnings from our equity-accounted investments, net
pre-tax earnings from our resources segment were $7.4 million in the current
quarter compared with a pre-tax loss of $2.3 million in the same period of the
prior year.


The market value of our portfolio of available-for-sale securities increased to
$310 million at March 31, 2010 compared with $257.5 million at December 31,
2009. This growth reflects net investments of approximately $18.7 million during
the current quarter, augmented by strong market appreciation of $33.7 million. 


ABOUT DUNDEE CORPORATION

Dundee Corporation is an asset management company dedicated to private wealth
management, real estate and resources that, combined, reflect approximately $77
billion under management and administration. Its domestic wealth management
activities are carried out through its 61% controlled subsidiary, DundeeWealth
Inc. Dundee Corporation's real estate activities are conducted through its 70%
owned subsidiary, Dundee Realty Corporation, which operates as an asset manager
of commercial real estate with activities in a land and housing business in
Canada and the United States. Resource activities are carried out through its
wholly-owned subsidiary, Dundee Resources Limited. Asset management activities
are carried out through Ned Goodman Investment Counsel Limited and Dundee Real
Estate Asset Management (DREAM).