Dynamic Mutual Funds Ltd. (“Dynamic”) announced today that its parent company

Date: Monday, July 15, 2002

Dynamic Mutual Funds Ltd. (“Dynamic”) announced today that its parent company, Dundee Wealth Management Inc. (DW, DW.WT - TSX), has arranged to acquire 100% of StrategicNova Inc. and will merge that company with Dynamic. The acquisition of StrategicNova, which has approximately $2.4 billion of assets under management, will increase Dynamic’s asset base from $6.8 to more than $9.0 billion. The merged company will continue under the Dynamic banner. The transaction, which is subject to customary closing conditions, is expected to be completed in September. Dundee Wealth will place 100% of its operations into a new private holding company that will be 81.7% owned by Dundee Wealth. CDP Capital - Financial Services will convert its existing interest in StrategicNova and its loans to StrategicNova to equity and provide a $15-million cash infusion to become an 18.3% shareholder of this new holding company. CDP Capital - Financial Services will also have a one-year option to acquire a further 1.15% of the private holding company for an additional $10 million.