MDS Announces Formation of Special Committee



    TORONTO, Feb. 2 /CNW/ - MDS Inc. (TSX: MDS; NYSE:   MDZ), a leading
provider of products and services to the global life-sciences markets, today
announced that it has constituted a committee of independent directors to
support the Company's continuing process of reviewing alternatives to improve
shareholder value. With the assistance of management and advisors, the Board
of Directors continuously reviews the performance of MDS, and looks for
options to improve returns to shareholders, including an annual strategic
review. The Board has determined that constituting a committee to work closely
with management and the company's advisors is now appropriate.
    The committee is comprised of William Anderson, Robert Luba, James
MacDonald and Gregory Spivy, each of whom is independent of management. James
MacDonald will act as Chair of the committee. Goldman, Sachs & Co and RBC
Capital Markets are assisting the Company and the Board of Directors as
financial advisors. The focus of the review is on assessing strategic
alternatives. MDS emphasized that there can be no assurance that this process
will result in any specific strategic or financial transaction - especially
given the uncertain market and economic conditions. No timetable has been set
for its completion.

    Caution Concerning Forward-Looking Statements

    This document contains forward-looking statements. Some forward-looking
statements may be identified by words like "expects", "anticipates", "plans",
"intends", "indicates" or similar expressions. The statements are not a
guarantee of future performance and are inherently subject to risks and
uncertainties. MDS's actual results could differ materially from those
expressed in the forward-looking statements due to these risks and a number of
other factors, including, but not limited to, successful implementation of
structural changes, including restructuring plans and acquisitions, technical
or manufacturing or distribution issues, the competitive environment for MDS's
products and services, the degree of market penetration of its products and
services, the ability to secure a reliable supply of raw materials, the impact
of our clients' exercising rights to delay or cancel certain contracts, the
strength of the global economy, the stability of global equity markets, the
availability and cost of financing, the impact of the movement of the U.S.
dollar relative to other currencies, particularly the Canadian dollar and the
euro, uncertainties associated with critical accounting assumptions and
estimates, and other factors set forth in reports and other documents filed by
MDS with Canadian and U.S. securities regulatory authorities from time to
time, including MDS's quarterly and annual MD&A, annual information form, and
annual report on Form 40-F for the fiscal year ended October 31, 2008 filed
with the U.S. Securities & Exchange Commission.

    About MDS

    MDS Inc. (TSX: MDS; NYSE:   MDZ) is a global life sciences company that
provides market-leading products and services that our customers need for the
development of drugs, and the diagnosis and treatment of disease. We are a
leading global provider of pharmaceutical contract research, medical isotopes
for molecular imaging, radiotherapeutics, and analytical instruments. MDS has
more than 5,000 highly skilled people in 29 countries. Find out more at
www.mdsinc.com or by calling 1-888-MDS-7222, 24 hours a day.





For further information:

For further information: MEDIA: Janet Ko, (416) 213-4167,
janet.ko@mdsinc.com; INVESTORS: Kim Lee, (416) 213-4721, kim.lee@mdsinc.com

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