MDC Corporation Inc. of Toronto and the Davis + Henderson Income Fund announced today that the Fund is filing a final prospectus with the securities regulatory authorities in each of the provinces of Canada in connection with the offering.

The offering is being underwritten by a syndicate led by CIBC World Markets Inc. and Scotia Capital Inc., which includes BMO Nesbitt Burns Inc., TD Securities Inc., RBC Dominion Securities Inc., Griffiths McBurney & Partners and Merrill Lynch Canada Inc. Copies of the prospectus are available from CIBC World Markets Inc. and Scotia Capital Inc.

As part of the closing of this offering, and together with amounts received in connection with the initial public offering of the Fund, MDC will have realized gross proceeds of approximately $470 million.

Following the offering, MDC will no longer have a continuing interest in Davis + Henderson, Limited Partnership. On closing, MDC’s nominees to the board of directors of Davis + Henderson G.P. Inc., and the chairman of the board, will resign and Paul Damp will become the chairman of the board.

Proceeds received by MDC from this offering will be used for the repayment of indebtedness and general corporate purposes. Subsequent to this transaction, MDC’s business services operations will include outsourced business services to financial institutions and Maxxcom, Canada’s leading marketing and communications services organization.

The principal driver of MDC’s remaining services to financial institutions is Custom Checks, whose personalized transaction products activities include personal and business cheques in the growing direct-to- consumer cheque business in the United States.