TORONTO, Ontario, April 7, 2005 – MDC Partners Inc. (the “Company”) (NASDAQ: MDCAE; TSX: MDZ.SV.A,) announced that due to the delayed filing of its annual report on Form 10-K for the period ended December 31, 2004, NASDAQ has temporarily appended a fifth character “E” to its NASDAQ trading symbol (now “MDCAE”). Upon the filing of its Form 10-K with the SEC, the Company expects that its NASDAQ trading symbol will change back to “MDCA”. Management anticipates that MDC Partners will file its Form 10-K not later than April 15, 2005.
On April 5, 2005, the Company received a notice from NASDAQ, stating that the Company was not in compliance with NASDAQ’s Marketplace Rule 4310(c)(14) because the Company had not filed its annual report on Form 10-K for the period ended December 31, 2004 with the SEC on a timely basis. The Company expects to be in compliance with all NASDAQ listing requirements when it files its Form 10-K not later than April 15, 2005.
About MDC Partners Inc.
MDC Partners is a leading provider of marketing communications services, and secure transaction products and services, to clients in the United States, Canada, Australia and the United Kingdom. Through its partnership of entrepreneurial firms, its Marketing Communications Division provides advertising and specialized communication services to leading brands. The Secure Products Division provides security products and services in three primary areas including electronic transaction products, secure ticketing products and stamps. MDC Partners Class A shares are publicly traded on the Toronto Stock Exchange under the symbol “MDZ.SV.A” and on the NASDAQ under the symbol “MDCAE”.
This press release contains forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve risks and uncertainties which may cause the actual results or objectives to be materially different from those expressed or implied by such forward-looking statements. Such factors include, among other things, the Company’s financial performance; changes in the competitive environment; adverse changes in the economy; ability to maintain long-term relationships with customers; financing requirements; risks arising from material weaknesses in internal control over financial reporting; and other factors set forth in the Company’s Form 40-F for its fiscal year ended December 31, 2003 and subsequent SEC filings.