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Press Release

MDC CORPORATION INC. ANNOUNCES RECEIPT OF THE REQUIRED NUMBER OF CONSENTS TO AMEND ITS INDENTURE

TORONTO, Ontario (March 27, 2002) -MDC Corporation Inc. announced that in connection with its previously announced tender offer and consent solicitation with respect to its outstanding 10 ½% Senior Subordinated Notes due December 1, 2006 (the “Notes), the consents of holders of a majority in principal amount of the outstanding Notes have been delivered with respect to the proposed amendments to the indenture under which the Notes were issued.

As previously announced, the expiration date for MDC’s offer to purchase and consent solicitation is 12:00 midnight, New York City time, on April 8, 2002.

This announcement is not an offer to purchase, a solicitation of an offer to purchase, or a solicitation of an offer to sell securities, with respect to any Notes. The tender offer may only be made pursuant to the terms of the Offer to Purchase and Consent Solicitation Statement, dated March 7, 2002, as amended, and the related Amended Consent and Letter of Transmittal. Persons with questions regarding the offer should contact the Information Agent at (866) 825-8876 or the Dealer Managers at (212) 902-0391.

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 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.