TORONTO, Ontario (June 13, 2003) -MDC Corporation Inc. (“MDC”) of Toronto announced today that The Toronto Stock Exchange (the “Exchange”) has accepted a notice filed by MDC of its intention to make a normal course issuer bid to acquire up to $4,996,700 principal amount of the 7% Subordinated Unsecured Convertible Debentures (the “Debentures”), representing approximately 10% of the public float of its issued Debentures through the facilities of the Exchange. Purchases under the issuer bid may commence on June 17, 2003, and will end no later than June 16, 2004. Currently, MDC has $50,000,000 principal amount of Debentures outstanding.
The Board believes that MDC’s Debentures are an excellent investment for MDC, particularly at recent trading levels. This initiative demonstrates MDC’s confidence in its growth strategies and its ongoing commitment to enhance shareholder value. Any Debentures repurchased will be cancelled.
MDC has not purchased any of its Debentures within the twelve months preceding the date of the notice.
About MDC Corporation Inc. (“MDC”)
MDC is a publicly traded international business services organization with operating units in Canada, the United States, United Kingdom and Australia. MDC provides marketing communication services, through Maxxcom, and offers security sensitive transaction products and services in four primary areas: personalized transaction products such as personal and business cheques; electronic transaction products such as credit, debit, telephone & smart cards; secure ticketing products, such as airline, transit and event tickets, and stamps, both postal and excise. MDC shares are traded on the Toronto Stock Exchange under the symbol MDZ.A and on NASDAQ National Market under the symbol MDCA.
About Maxxcom Inc. (“Maxxcom”)
Maxxcom, a subsidiary of MDC, is a multi-national business services company with operating units in Canada, the United States and the United Kingdom. Maxxcom is built around entrepreneurial partner firms that provide a comprehensive range of communications services to clients in North America and the United Kingdom. Services include advertising, direct marketing, database management, sales promotion, corporate communications, marketing research, corporate identity and branding, and interactive marketing. Maxxcom shares are traded on the Toronto Stock Exchange under the symbol MXX.