July 21st

DundeeWealth Completes Acquisition of Majority Stake in Aurion Capital and US-Based BHR Fund Advisors

DundeeWealth Inc. (\"DundeeWealth\") (TSX: DW) today announced the completion of two acquisitions that will diversify its distribution platform in Canada and the United States. DundeeWealth has completed its acquisition of 60% of Toronto-based institutional money manager Aurion Capital Management Inc. (\"Aurion\"). In a separate transaction, DundeeWealth acquired 89% of BHR Fund Advisors, L.P. (\"BHR\"), a US-based mutual fund manager and distribution platform founded in 2006.

The majority stake in Aurion was purchased with a mix of cash and common shares (TSX: DW) that totaled approximately $26 million and is subject to a three-year completion agreement tied to asset retention. The remaining 40% of the Company will be held by Aurion employees. DundeeWealth announced it had entered into an agreement to acquire the highly regarded institutional money manager on May 5, 2008. \"The partnership with Aurion is consistent with our strategy to diversify our distribution platform - in this case, into the institutional market,\" said David Goodman, President and Chief Executive Officer of DundeeWealth. \"Aurion shares our entrepreneurial and money management culture, which will help us to build both companies and enhance what we deliver for clients.\"

BHR was acquired in exchange for cash, a portion of which is subject to a one-year completion agreement tied to asset growth targets. The remaining 11% of the Company will be held by BHR management. BHR, located in the Philadelphia area, is a registered investment advisor regulated by the Securities and Exchange Commission. The BHR transaction provides DundeeWealth with a fully-formed product creation and distribution platform serving the world\'s largest investment market.

\"The BHR acquisition parallels our purchase last year of VMR Fund Management S.A. (now DF Investments) in Luxembourg, extending the market reach of some of our most successful investment solutions,\" said Mr. Goodman. \"They provide DundeeWealth with new distribution platforms in well developed economies.\"

About DundeeWealth Inc.

DundeeWealth is a Canadian owned, independent wealth management company that oversees more than $63.1 billion in assets under management and administration. It provides diversified wealth management and investment solutions including alternative and tax-advantaged products, capital markets and advisory services to financial advisors, institutions, corporations and foundations, and innovative wealth management through independent financial advisors across Canada. Its award winning investment brand, Dynamic Funds, managed by Canadian subsidiary Goodman & Company, Investment Counsel Ltd., is also available to European investors through its Luxembourg-based subsidiary, DF Investments S.A. DundeeWealth is listed on the Toronto Stock Exchange (TSX: DW).

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SOURCE: DundeeWealth Inc.