Dundee Corporation Reports Third 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 September 30, 2010 on
its website www.dundeecorporation.com and on the System for Electronic Document
Analysis and Retrieval ("SEDAR") at www.sedar.com.


On a year-to-date basis, Dundee Corporation generated net earnings of $118.5
million or $1.47 per fully diluted share, more than twice the net earnings of
$51.8 million or $0.68 per fully diluted share earned during the same period of
the prior year.


Selected Consolidated Segmented Earnings

(In millions of dollars except per share amounts)



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                                           Three Months         Nine Months 
For the three and nine months ended                                         
 September 30,                           2010      2009      2010      2009 
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Wealth management                    $   24.7  $   14.9  $   77.5  $   44.3 
Real estate                              22.3      11.3      48.1      21.6 
Resource                                 17.5       5.9      37.7       6.6 
Asset management                         (2.2)     (2.4)     23.7      (4.7)
Intersegment                              0.8       0.8       2.5       2.5 
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                                         63.1      30.5     189.5      70.3 
Dilution (loss) gain, net                 0.7       0.7      (5.6)      1.4 
Income taxes                            (20.4)     (1.0)    (65.4)    (19.9)
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Net earnings for the period          $   43.4  $   30.2  $  118.5  $   51.8 
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Fully diluted earnings per share     $   0.56  $   0.39  $   1.47  $   0.68 
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Improved earnings in the wealth management segment reflect the impact of a
continued increase in DundeeWealth's AUM, which reached a record $42.6 billion
at September 30, 2010, as well as improvements in operating efficiencies.
Through its trademark Dynamic Funds, DundeeWealth remains the fastest growing
company among the 10 largest asset managers in Canada, a pace it has maintained
for the last five quarters. Leading the industry in net sales, DundeeWealth's
market share increased to 4.29% at September 30, 2010, compared with 3.56% at
September 30, 2009.


DundeeWealth recently announced that its board of directors approved a change to
its dividend policy, replacing quarterly dividend payments with monthly payments
of $0.05 per share. The change increases DundeeWealth's annual dividend by 114%
and amounts to $3.5 million per month for Dundee Corporation.


Earnings from the real estate segment increased to $48.1 million during the nine
months ended September 30, 2010 compared with $21.6 million earned in the same
period of the prior year. Strengthened by stronger demand in essentially all
markets, and most notably in western Canada, real estate margins grew to $68.8
million in the first three quarters of 2010, a 50% increase compared to $46.0
million in margins earned in the same period of the prior year.


Earnings from the real estate segment also include the Company's share of
earnings from Dundee REIT, which increased to $8.9 million in the first three
quarters of 2010 compared to a loss of $2.3 million in the comparative period of
2009. Earnings from Dundee REIT in the current period benefitted from the
successful issuance of $478 million in equity financings recently completed by
Dundee REIT, which allowed Dundee REIT to expand is leasable square footage to
10.9 million at September 30, 2010.


Earnings from the resource segment were $37.7 million during the nine months
ended September 30, 2010 compared with earnings of $6.6 million in the same
period of the prior year. Growth reflects stronger earnings from equity
accounted investments, which totalled $39.8 million in the first three quarters
of 2010 compared with $7.9 million in the comparative period of the prior year.


In addition, in its first full quarter of operations, Eurogas Corporation, the
Company's 54% owned energy- based subsidiary, generated net revenues of $8.2
million from producing oil and gas assets acquired in June 2010.


Our asset management activities include the operations of Ned Goodman Investment
Counsel Limited ("NGIC") and Dundee Real Estate Asset Management ("DREAM"). At
September 30, 2010, NGIC and DREAM provided sub-advisory and investment services
to approximately $7.2 billion of third-party assets under management. In
addition, NGIC, together with Dundee Resources Ltd., also provides investment
services in respect of the Company's portfolio of securities. These investments
include both publicly listed and private companies in a variety of resource
sectors.


ABOUT DUNDEE CORPORATION

Dundee Corporation is an asset management company dedicated to wealth
management, real estate and resources that, combined, reflect approximately $82
billion of free paying assets 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).