MDS Commences Arbitration against AECL over Cancelled MAPLE Project and Files $1.6 Billion Court Claim against AECL and the Government... (costs had more thandoubled with MDS's in...)

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MDS Commences Arbitration against AECL over Cancelled MAPLE Project and Files $1.6 Billion Court Claim against AECL and the Government of Canada

Date:7/9/2008

costs had more than doubled, with MDS's investment exceeding $350 million. To address these issues, MDS entered mediation with AECL that resulted in a new agreement reached in 2006. The 2006 agreement stipulated that AECL would bring the MAPLE reactors into service commencing October 2008 and provide MDS with a 40-year supply of isotopes.

On May 16, 2008, AECL and the Government of Canada announced their intention to discontinue the MAPLE project without prior notice to or consultation with MDS. AECL and the Government also made their announcements without disclosing any long-term plan for the supply of isotopes beyond extending the license of the NRU.

Prior to their announcement, in regular reviews with AECL to discuss the status of the MAPLE project, AECL had consistently maintained that it would complete the reactor project. AECL has stated that its decision will not impact current supply of medical isotopes from the NRU, and the Government has stated that it would like AECL to pursue an extension of the NRU operation beyond its current license. While MDS supports this decision, it does not adequately address long-term supply.

The Importance of Isotope Supply

Medical isotopes are used to diagnose potentially life-threatening conditions such as heart disease and to treat serious diseases such as cancer. Establishing a reliable supply of medical isotopes is an important issue for patients worldwide. The NRU is one of only four reactors in the world with the capacity to produce isotopes for commercial use. It supplies isotopes to MDS Nordion who in turn processes them into medical isotopes that are then distributed to radiopharmaceutical companies. These companies manufacture radiopharmaceuticals and distribute them to hospitals and radiopharmacies around the world.

About MDS

MDS Inc. (TSX: MDS; NYSE: MDZ) is a global life sciences company that provides market-leading products and services that our customers need for the de
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MDS Commences Arbitration against AECL over Cancelled MAPLE Project and Files $1.6 Billion Court Claim against AECL and the Government...(costs had more thandoubled with MDS's in...),Health