/C O R R E C T I O N from Source -- DundeeWealth Inc./



    
    In c2628 transmitted at 19:20 today, an error occurred in the first
    paragraph. The AUM value given should have read: "$1.2 billion" and not
    "$1.2 million". Corrected copy follows:

    DundeeWealth(TM) reports July 2009 fee earning assets of $61.1 billion,
    $276 million in net sales and $31.1 billion in AUM representing 4.1%
    growth
    

    TORONTO, Aug. 4 /CNW/ - DundeeWealth Inc. ("DundeeWealth") (TSX: DW)
reported total revenue earning fiduciary assets at July 31, 2009 of $61.1
billion. This includes $31.1 billion in assets under management ("AUM"), $6.3
billion in Bank Deposits from Dundee Bank of Canada and $23.7 billion in
assets under administration ("AUA"). AUM increased $1.2 billion, representing
growth of 4.1% for the month.

    
    Assets Under Management and Administration
    As at July 31,2009
    (in millions of $)

    -------------------------------------------------------------------------
    Total AUA and AUM, including Bank Deposits                        61,102
    -------------------------------------------------------------------------

    AUM Activity, excluding Bank Deposits:
    --------------------------------------
    AUM at beginning of period                                        28,131
    -------------------------------------------------------------------------
    Gross additions                                                      505
    Gross redemptions                                                    229
    -------------------------------------------------------------------------
    Net additions                                                        276
    Change in market                                                     841
    -------------------------------------------------------------------------
                                                                      29,248
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    Dundee Securities managed accounts                                 1,802
    -------------------------------------------------------------------------
    July 31, 2009 AUM                                                 31,050
    -------------------------------------------------------------------------

    AUM Breakdown:
    --------------
    Mutual funds                                                      21,975
    Closed end funds                                                     331
    Structured investment solutions                                      307
    High net worth accounts - Goodman Private Wealth                   1,529
    High net worth assets in other categories                           (260)
    High net worth accounts - Dundee Securities managed accounts       1,802
    Third party institutional                                          5,366
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
                                                                      31,050
    -------------------------------------------------------------------------
    Dundee Bank of Canada, Bank Deposits                               6,319
    -------------------------------------------------------------------------
    Assets under Administration                                       23,733
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    

    About DundeeWealth Inc.

    DundeeWealth is a Canadian owned, independent wealth management company
that oversees $61.1 billion in fee earning assets. 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(TM), managed by Goodman & Company,
Investment Counsel Ltd., is also available outside of Canada through
distribution platforms in Europe and the United States. DundeeWealth is listed
on the Toronto Stock Exchange (TSX: DW).




For further information:

For further information: Investor/Analyst inquiries, John Pereira, Chief
Financial Officer, DundeeWealth Inc., (416) 365-5180; Media inquiries, Myra
Reisler, Manager, Public Affairs, DundeeWealth Inc., (416) 365-5370

Organization Profile

DUNDEEWEALTH INC.

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