DundeeWealth Shareholders Approve the Redemption of Series 1 Preferred Shares and DundeeWealth Announces Redemption of the Series 1 Notes

TORONTO, Sept. 7, 2011 /CNW/ - DundeeWealth Inc. ("DundeeWealth" or the "Company") announced today that at a special meeting of shareholders of DundeeWealth held earlier today, its shareholders approved a special resolution authorizing an amendment to the Company's articles to permit the Company to redeem all of the issued and outstanding first preference shares, series 1 (the "Series 1 Shares") at a price of $26.50 plus accrued and unpaid dividends up to but excluding the redemption date. Of the 2,795,594 votes cast by the holders of Series 1 Shares at the meeting, 99.65% voted in favour of the special resolution. All of the common shares, special shares, series C and first preference shares, series X were voted in favour of the special resolution. On September 8, 2011, the Series 1 Shares will be redeemed by the Company and delisted from trading on the Toronto Stock Exchange.

The Company also announced that it has exercised its right to redeem its $200 million aggregate principal amount of 5.10% series 1 notes due September 25, 2014 (the "Notes") on October 7, 2011 at a redemption price of $109.775 per $100.00 principal amount of Notes, together with all accrued and unpaid interest up to but excluding the redemption date.  Upon the redemption of the Notes, DundeeWealth will apply to cease to be a reporting issuer under the securities laws of each province of Canada in which it is currently a reporting issuer.

Notice of the redemption of the Notes will be delivered today to CDS Clearing and Depository Services Inc. ("CDS").  Non-registered holders (banks, brokerage firms or other financial institutions) who maintain their interests in the Notes through CDS should contact their CDS customer services representative with any questions about the redemption.  Alternatively, beneficial holders with any questions about the redemption should contact their representative brokerage firm or financial institution, which holds interests in the Notes on their behalf.

About DundeeWealth

DundeeWealth is a wholly-owned subsidiary of The Bank of Nova Scotia and part of the Global Wealth Management division, with $80.6 billion in fee earning assets (as at August 31, 2011). It provides diversified wealth and investment management solutions which include alternative and tax-advantaged products and advisory services to financial advisors, institutions, corporations and foundations. It supports innovative wealth management through a network of independent financial advisors who operate under the DundeeWealth brand across Canada. Its award winning family of mutual funds and hedge funds, Dynamic Funds®, managed by Goodman & Company, Investment Counsel Ltd., is also available outside of Canada through distribution platforms in Europe and the United States.

SOURCE DundeeWealth Inc.

For further information:

Robert Pattillo, Executive Vice-President, Marketing and Communications
(416) 365-6466

Myra Reisler, Director, Public Affairs
(416) 365-5370

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DundeeWealth Inc.

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