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MDP Announces Beginning of Normal Course Issuer Bid Program

5/15/2003

MDP Worldwide Entertainment Inc. (“MDP”) (TSX: MDP.A, MDP.B) announced its intention to proceed between May 20, 2003 and May 19, 2004 at the latest, with a normal course issuer bid of its Class A Multiple Voting Shares and of its Class B Subordinate Voting Shares listed on the Toronto Stock Exchange (“TSX”). MDP may acquire up to 102,047 Class A Multiple Voting Shares and 7,853,920 Class B Subordinate Voting Shares representing approximately 5% of its issued and outstanding Class A Multiple Voting Shares and Class B Subordinate Voting Shares respectively as of May 7, 2003, through the facilities of TSX. The Class A Multiple Voting Shares and Class B Subordinate Voting Shares acquired pursuant to the normal course issuer bid will be cancelled. As of May 7, 2003, there were 2,040,959 Class A Multiple Voting Shares and 157,078,419 Class B Subordinate Voting Shares issued and outstanding.
Class A Multiple Voting Shares and Class B Subordinate Voting Shares may be repurchased at market price at the time of acquisition. MDP considers that the repurchase of its shares that it may effect from time to time is a prudent use of its capital resources based upon the current market price which management believes does not adequately reflect the underlying value of MDP.
Certain statements in this report may constitute forward-looking statements. Such forward-looking statements involve risks, uncertainties and other factors which may cause actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
MDP Worldwide Entertainment Inc. is a leading independent film entertainment company engaged in the acquisition, development, financing, production and worldwide distribution of feature films. The Corporation currently has offices in Montreal and Los Angeles.
Ticker symbols: MDP.A & MDP.B (TSX)
www.mdpworldwide.com
For further information
Devin Cutler, Vice President of Finance and Controller,

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