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MDS Announces Agreements to Divest MDS Pharma Services' Early Stage Business
Date:2/10/2010

Technologies, MDS currently expects to initially hold between $85 million and $135 million of cash to support ongoing operations and future obligations of the Company. Beyond the estimated cash balance of between $85 million and $135 million, the Company intends to hold additional cash to fund unpaid transaction and restructuring costs associated with the sale of MDS Pharma Services and MDS Analytical Technologies. Additional details on these expected transaction and restructuring costs are available in MDS's 2009 Management's Discussion and Analysis (MD&A).

MDS's interest in the new corporation consists solely of the $25 million note and a 15% equity interest. The interest on the five-year note is 4% per annum, and the note would be repayable at the end of its five-year term or upon a future sale of the business. The note is expected to be secured by certain assets of the new corporation, which would be subordinated by the new corporation's senior credit facility.

Closing Conditions, Time Lines

The transaction is expected to close within two months, and is subject to customary approvals and closing conditions, including certain regulatory approvals and compliance with labor laws related to an operation in France.

MDS Special Committee

The Company's Special Committee of the Board of Directors, which was established in February 2009 to review strategic alternatives to improve shareholder value, is expected to be disbanded following the completion of the sale of MDS Pharma Services.

MDS Strategic Repositioning

Background materials pertaining to the new strategic direction for MDS Inc. can be found on MDS Inc.'s Website at

SOURCE MDS Inc.
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