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.

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