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Press Release

MDC CORPORATION INC. INCREASES THE PRICE RANGE AND CONSENT FEE AND EXTENDS THE CONSENT PAYMENT DEADLINE FOR ITS TENDER OFFER AND CONSENT SOLICITATION FOR ITS 10 1/2% SENIOR SUBORDINATED NOTES DUE 2006

TORONTO, Ontario (March 20, 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), it has increased the price at which it will purchase the Notes from a range of US$800 to US$820 per US$1,000 of principal amount of Notes to a range of US$860 to US$880 per US$1,000 of principal amount of Notes.

MDC has also extended the deadline for eligibility to receive a consent fee in connection with its solicitation of consents. The consent payment deadline has been extended from 12:00 midnight New York City time on March 20, 2002 to 5:00 pm New York City time on March 22, 2002. The consent fee has also been increased from US$2.50 per US$1,000 principal amount of Notes to US$10.00 per US$1,000 and will be paid to holders who deliver their consents prior to the consent payment deadline.

All previously delivered consents and tendered notes are deemed to have been automatically revoked and withdrawn. Holders must complete and submit an Amended Consent and Letter of Transmittal to the Depositary in order to tender Notes and deliver a consent.

The expiration date for the offer to purchase and consent solicitation remains unchanged and is 12:00 midnight New York City time on April 4, 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 herein 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 and Secure Ticketing Products, such as airline, transit and event tickets. Stamp; 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.