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Press Release

MDC CORPORATION INC. CUSTOM DIRECT INCOME FUND

TORONTO, Ontario (March 28, 2003) – MDC Corporation Inc. of Toronto (TSE: MDZ.A; NASDAQ: MDCA) and Custom Direct Income Fund announced today that the Fund has refiled its preliminary prospectus with the securities regulatory authorities in each of the provinces and territories of Canada in connection with the previously announced proposed initial public offering of units of the Fund. MDC is monitoring market conditions for the offering.

About Custom Direct

Based in Maryland and Arkansas, Custom Direct has been selling cheques and cheque related accessories across the United States since 1992 and offers the industry’s widest selection of product designs. Custom Direct is the second largest participant in the direct-to-consumer segment of the U.S. cheque industry with sales and EBITDA for the year ending December 31, 2002 of approximately US$103 million and US$20 million respectively.

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.