<SEC-DOCUMENT>0001144204-13-015311.txt : 20130315
<SEC-HEADER>0001144204-13-015311.hdr.sgml : 20130315
<ACCEPTANCE-DATETIME>20130315133941
ACCESSION NUMBER:		0001144204-13-015311
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20130315
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20130315
DATE AS OF CHANGE:		20130315

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MDC PARTNERS INC
		CENTRAL INDEX KEY:			0000876883
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-ADVERTISING AGENCIES [7311]
		IRS NUMBER:				980364441
		STATE OF INCORPORATION:			A6
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13718
		FILM NUMBER:		13693276

	BUSINESS ADDRESS:	
		STREET 1:		745 FIFTH AVENUE, 19TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10151
		BUSINESS PHONE:		646 429 1800

	MAIL ADDRESS:	
		STREET 1:		745 FIFTH AVENUE, 19TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10151

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MDC CORP INC
		DATE OF NAME CHANGE:	20001204

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MDC COMMUNICATIONS CORP
		DATE OF NAME CHANGE:	19961028

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MDC CORPORATION
		DATE OF NAME CHANGE:	19950419
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>v338277_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>WASHINGTON, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Current Report Pursuant to Section 13 or
15(d)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">of the Securities Exchange Act of 1934</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Date of Report (Date Earliest Event reported)
&mdash; March 15, 2013</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>MDC PARTNERS INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Exact name of registrant as specified in
its charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 34%; text-align: center; padding: 0; text-indent: 0">Canada</TD>
    <TD STYLE="width: 32%; text-align: center; padding: 0; text-indent: 0">001-13718</TD>
    <TD STYLE="width: 34%; text-align: center; padding: 0; text-indent: 0">98-0364441</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center; padding: 0; text-indent: 0">(Jurisdiction of Incorporation)</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; padding: 0; text-indent: 0">(Commission File Number)</TD>
    <TD STYLE="vertical-align: top; text-align: center; padding: 0; text-indent: 0">(IRS Employer Identification No.)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">745 Fifth Avenue, New York, New York 10151</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Address of principal
executive offices and zip code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(646) 429-1800</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Registrant&rsquo;s Telephone Number)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; border-bottom: Black 1.5pt solid">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form 8&minus;K filing
is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; font-family: Wingdings; padding: 0; text-indent: 0">o</TD>
    <TD STYLE="padding: 0; text-indent: 0">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; font-family: Wingdings; padding: 0; text-indent: 0">o</TD>
    <TD STYLE="padding: 0; text-indent: 0">Soliciting material pursuant to Rule 14a&minus;12 under the Exchange Act (17 CFR 240.14a&minus;12)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; font-family: Wingdings; padding: 0; text-indent: 0">o</TD>
    <TD STYLE="padding: 0; text-indent: 0">Pre&minus;commencement communications pursuant to Rule 14d&minus;2(b) under the Exchange Act (17 CFR 240.14d&minus;2(b))</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; font-family: Wingdings; padding: 0; text-indent: 0">o</TD>
    <TD STYLE="padding: 0; text-indent: 0">Pre&minus;commencement communications pursuant to Rule 13e&minus;4(c) under the Exchange Act (17 CFR 240.13e&minus; 4(c))</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt"><TR><TD STYLE="text-align: center; width: 100%; padding: 0; text-indent: 0">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: left; width: 50%; padding: 0; text-indent: 0">&nbsp;</TD><TD STYLE="text-align: right; width: 50%; padding: 0; text-indent: 0"></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 96px; padding: 0; font-weight: bold; text-indent: 0">Item 7.01.</TD>
    <TD STYLE="padding: 0; font-weight: bold; text-indent: 0">Regulation FD Disclosure.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On March 8, 2013, MDC Partners Inc. (&ldquo;MDC&rdquo;) commenced
a private offering of senior unsecured notes due 2020. MDC is updating its disclosure under Item 7.01 of this Current Report on
Form 8-K. This information, some of which has not previously been reported, is excerpted from a confidential offering circular
that is being disseminated in connection with the private offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Debt Financing</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On March 7, 2013, there was an outstanding balance under MDC&rsquo;s
senior secured revolving credit facility that matures on October 23, 2014 (the &ldquo;Facility&rdquo;) of approximately $16 million
and on March 14, 2013, the amount drawn under the Facility was approximately $3 million. MDC intends to use a portion of the net
proceeds from the Notes offering to repay the amount drawn under the Facility.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Additionally, the amended and restated Facility is
expected to consist of $225 million in commitments. The other expected terms previously disclosed remain unchanged.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 96px; font-weight: bold; padding: 0; text-indent: 0">Item 8.01.</TD>
    <TD STYLE="font-weight: bold; padding: 0; text-indent: 0">Other Events.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On March 15, 2013, MDC announced that it has priced its
private offering of $550 million aggregate principal amount of 6.75% senior unsecured notes due 2020 (the
&ldquo;Notes&rdquo;). MDC intends to use the net proceeds of the offering to redeem
all $425 million aggregate principal amount of its 11% senior notes due 2016, to pay accrued interest, related premiums, fees
and expenses and to repay outstanding borrowings, if any, under the Facility. Any remaining net proceeds will be used for general
corporate purposes, including funding of deferred acquisition consideration.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Notes will not be registered under the Securities Act of
1933, as amended (the &ldquo;Securities Act&rdquo;) and therefore may not be offered or sold within the United States or to U.S.
persons, except to &ldquo;qualified institutional buyers&rdquo; in reliance on the exemption from registration provided by Rule
144A and to certain persons in offshore transactions in reliance on Regulation S. You are hereby notified that sellers of the Notes
may be relying on the exemption from the provisions of Section 5 of the Securities Act provided by Rule 144A. This announcement
does not constitute an offer to sell or the solicitation of an offer to buy Notes in any jurisdiction in which such an offer or
sale would be unlawful.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 96px; font-weight: bold; padding: 0; text-indent: 0">Item 9.01.&nbsp;</TD>
    <TD STYLE="font-weight: bold; padding: 0; text-indent: 0">Financial Statements and Exhibits.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">(d) Exhibits.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; padding: 0; text-indent: 0">99.1</TD>
    <TD STYLE="padding: 0; text-indent: 0">Text of press release issued by MDC Partners Inc. on March 15, 2013 regarding the pricing of the Notes.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width: 50%"></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Signatures</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed by the undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 3%; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 35%; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 12%; padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">Date:&nbsp;&nbsp;March 15, 2013</TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0">MDC Partners Inc.</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">By:</TD>
    <TD STYLE="padding: 0; text-indent: 0; border-bottom: Black 1pt solid">/s/ Mitchell Gendel</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">Name: &nbsp;&nbsp; Mitchell Gendel</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">Title:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; General Counsel &amp; Corporate Secretary</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<!-- Field: Page; Sequence: 3; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>



<P STYLE="margin: 0">&nbsp;</P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>v338277_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: Red">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: Red"><IMG SRC="logo.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PRESS RELEASE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOR IMMEDIATE RELEASE </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 80%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0; font-size: 10pt; width: 12%"><B>FOR:</B></TD>
    <TD STYLE="padding-right: 0; padding-left: 0; font-size: 10pt; width: 24%">MDC Partners Inc.</TD>
    <TD STYLE="padding-right: 0; padding-left: 0; font-size: 10pt; width: 17%"><B>CONTACT:</B></TD>
    <TD STYLE="padding-right: 0; padding-left: 0; font-size: 10pt; width: 27%">David Doft</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0">&nbsp;</TD>
    <TD STYLE="padding-right: 0; padding-left: 0; font-size: 10pt"><P STYLE="margin-top: 0; margin-bottom: 0">745 Fifth Avenue,</P>
                                                                   <P STYLE="margin-top: 0; margin-bottom: 0">19<SUP>th</SUP> Floor</P></TD>
    <TD STYLE="padding-right: 0; padding-left: 0">&nbsp;</TD>
    <TD STYLE="padding-right: 0; padding-left: 0">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Chief Financial Officer</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">646-429-1818</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0">&nbsp;</TD>
    <TD STYLE="padding-right: 0; padding-left: 0; font-size: 10pt">New York, NY 10151</TD>
    <TD STYLE="padding-right: 0; padding-left: 0">&nbsp;</TD>
    <TD STYLE="padding-right: 0; padding-left: 0; font-size: 10pt">ddoft@mdc-partners.com</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>MDC Partners Inc. Announces Pricing of
$550 Million of 6.75% Senior Notes due 2020</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">March 15, 2013</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">NEW YORK, NEW YORK (March 15, 2013) &ndash; MDC Partners Inc.
(&ldquo;MDC&rdquo;) (NASDAQ: MDCA) (TSX: MDZ.A) today announced that it has priced its private offering of $550 million aggregate
principal amount of 6.75% senior notes due 2020 (the &ldquo;Notes&rdquo;). MDC intends to use the net proceeds of the offering
to redeem all $425 million aggregate principal amount of its 11% senior notes due 2016, to pay accrued interest, related premiums,
fees and expenses and to repay outstanding borrowings, if any, under MDC&rsquo;s senior secured revolving credit facility. Any
remaining net proceeds will be used for general corporate purposes, including funding of deferred acquisition consideration.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Notes and related guarantees will be offered only to qualified
institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;),
and to non-U.S. persons in transactions outside the United States in reliance on Regulation S under the Securities Act. The Notes
will not be registered under the Securities Act and, therefore, may not be offered or sold in the United States absent an applicable
exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and other applicable securities
laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This press release does not constitute an offer to sell, or
a solicitation of an offer to sell or buy any securities, in any jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws of any such jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>About MDC Partners Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">MDC is a Business Transformation Organization that utilizes
technology, marketing communications, data analytics, insights and strategic consulting solutions to drive meaningful returns on
Marketing and Communications Investments for multinational clients in the United States, Canada, Europe, Latin America and the
Caribbean.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">MDC&rsquo;s durable competitive advantage is to Empower the
Most Talented Entrepreneurial Thought Leaders to Drive Business Success to new levels of Achievement, for both our Clients and
our Shareholders, reinforcing MDC's reputation as &quot;The Place Where Great Talent Lives.&quot;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Safe Harbor Statement</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">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. These 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 risk factors include, among other things, MDC&rsquo;s financial performance;
risks associated with the effects of economic downturns; ability to attract and retain key clients; ongoing compliance with debt
agreements and MDC&rsquo;s ability to satisfy contingent payment obligations when due; and other risk factors set forth in MDC&rsquo;s
Form 10-K for its fiscal year ended December 31, 2012 filed with the SEC on March 7, 2013 and in subsequent SEC filings.</P>



<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 2; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>logo.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 logo.jpg
M_]C_X``02D9)1@`!`0```0`!``#_VP!#``@&!@<&!0@'!P<)"0@*#!0-#`L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+#`Q-#0T'R<Y/3@R/"XS-#+_
MVP!#`0D)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P``1"`!S`;P#`2(``A$!`Q$!_\0`
M'P```04!`0$!`0$```````````$"`P0%!@<("0H+_\0`M1```@$#`P($`P4%
M!`0```%]`0(#``01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T?`D,V)R@@D*
M%A<8&1HE)B<H*2HT-38W.#DZ0T1%1D=(24I35%565UA96F-D969G:&EJ<W1U
M=G=X>7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&
MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0`'P$``P$!`0$!
M`0$!`0````````$"`P0%!@<("0H+_\0`M1$``@$"!`0#!`<%!`0``0)W``$"
M`Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O`58G+1"A8D-.$E\1<8&1HF
M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$
MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4
MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H`#`,!``(1`Q$`/P#W^BBBD`44
M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111
M0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`
M!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%
M%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`44
M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111
M0!!<W,5G:RW,[A(8D+NQ[*!DFL6U\:>';ZZBM;;5(GFE8*B[6&X^F2*M^)_^
M15U;_KTE_P#037SNK,I5E8JRD$,#R#V-,#Z>HKF_!WB)?$6@Q3R$?:H3Y=PH
M_O#^+Z$<_GZ5TE("O>7<%A:2W5U*L4$2EG=N@%9%EXQ\/ZC>16EIJ4<MQ*<(
M@1@2<9[CVKB?BCXC\V5-!MW^1,271!ZGJJ_AU/X5R_@;_D=]*_ZZM_Z`U,#V
M?5O$>DZ')%'J5ZMN\H+(&5CD#KT!JA_PG_A?_H+Q?]^W_P`*XOXN?\A/2_\`
MKC)_Z$*R_"_@)_$FD?V@NHK;CS6CV&'=TQSG(]:`/2H_'?AF5@JZQ`"?[P91
M^9%;MO<0W42S6\T<L;='C8,#^(KR>^^$^I0Q,]GJ$%RP'^K=#&3]#DBN;T76
M]4\'ZPP"R)L?;<VC\!_7CL?0_P!*`/H*FD@`DD`#J34%G>0WUC#>0/NAF02(
MWL1FO&_&OC&ZUW4)-/L9'73T?RU6/.;ALXR<=1GH*0'IUUXS\.V<ABFU>VWC
MJ$)?'_?.:L:=XDT;57$=CJ=O-(>B!\,?P/-><:5\*;ZYMDEU"^2S9AD0I'O9
M?J<@9^F:R/$W@74/#42W8F6YM0P!FC4JT9[9';Z@TP/=#4<LJ0Q-)(P5%!8D
M]@*X'X<>*Y]5232M0E,MS"F^&5S\SIT(/J1D<]P?:NC\5SM'I:PQY+W$@C`'
M4]_Z8_&L:]3V=.4NQ=*'/-1[F1)XQN?M),4$?V<'A6SN(^O8UU&FZE;ZG:B:
M$^S*>JGT->>WVFW>G.JW,>T-]U@<J?Q]:73-1FTR[$T7(/#IGAQZ5X-#,:U*
MK:MMU\CVJN`I5:=Z._YGI_05#<W45I;O/,P6-!EC4=C>P7]JMQ`V4/Y@^AKE
M]:N9M<U)=,LL&*(YD;^'/J?8?SKV:^)4*?-#5O;S/)HT'*IRRT2W\AK>-)_M
M.4M4\C/W23O(^O3-=;;7$=W;1W$3;HY%W*:Y>3P8GV<[+IS.%ZLHVD_3J*L^
M$II$M[FRE!5X)/NGMGM^8/YUR8:IB85.7$?:V]?D=6)AAY4^>ATW)]1\9:%I
M-^]E?7IBN(P"R>4YQD9'(&.AJM_PL7PO_P!!(_\`?B3_`.)KS/XB_P#(\W_^
M[%_Z`*M:+\.+W6](MM2BU&WB2=2P1HV)')']*]8\X]$B\?\`AB5]HU5%)[O&
MZC\R,5T,$\-U"LT$J2Q.,JZ,&!^A%>-:Q\-M5TG3Y;Q+FWNDB4O(D8*L%'4@
M'KBH_AWK\^E^(8+$R$V=ZWEM'GA7/W6'H<\'Z^U`'M]%(3@9/2JAU/3P^PWU
ML'_N^<N?YT@+E%-!!`(.0>A%)))'$NZ1U1>F6.!0`^BH4N(9`Q29&"C+$,#C
MZU6M]8TV[G^SVVH6LTPS^[CF5FXZ\`T`7B0.IH!!Z&O,/BS<1R1:1Y,RMAI<
M['SV7TJU\*;B./0[\33(I-UQO?'\"^M`'HU%1//#%CS)43/(W,!FF/=6Z0&=
M[B-8EZR%P%'XT`6**H6^LZ9>2^5:ZC:32?W8YE8_D#5^@`HIK,%4LQ``Y)/:
ML\:]HYE\H:K9&3IM^T+G^=`&E13000"#D'H137FBB`,DB)GIN8#-`$E%0?:8
M/*:7SX]B?>?>,#ZFH;;5=/OY&CM+ZVN'0998I58@>O!H`NT56N;VULD#W5S#
M`IZ&60*/UJ&VUG3+QQ';:E:32'HL<RL3^`-`%^BBB@`HHHH`****`"BBB@`H
MHHH`R?$__(JZM_UZ2_\`H)KP72-*FUBYDM;;F98'F1<??*C.WZFO>O$__(JZ
MM_UZ2_\`H)KR7X9_\CM;_P#7"3^5,"EX-\1'P]KT<[L19SXBN!Z+V;Z@\_3-
M>Q^(M=AT+0IM18AR%Q$N?]8Y^Z/Z_0&O*OB'X<_L77#=P)BSOB77`X23^)?Z
MCZGTK!O]<OM1TVPL+F7=!8J5B]3GH3]!P/:@0NGV5YXBULQF0M/,7FFE;L!\
MS,?\]Q5[P*<^-=)/K(W_`*`U=YX$\/?V9X7NM2N$Q=7L#%<CE(L':/QZ_E7!
M>`_^1STC_?/_`*`U`'3?%S_D)Z7_`-<9/_0A71_"S_D3S_U]2?TKG/BY_P`A
M/2_^N,G_`*$*Z/X6?\B>?^OJ3^E`SMJ\A^*]E'#K=C>(H#7$+*Y'<J1@_DV/
MPKUZO)?BW<H^J:;:J07BA=V'IN(`_P#032`MZ!JTUO\`"#4)58[[;S8$/IN(
MQ^6^N=^&^G1WWBZ)Y%5DM(FG`;^\,!?R)S^%;FB:?++\'-4"J2TKR3*/4(5_
M^(-97POO$MO%OE.0/M-N\:_4$-_(&F![5534;&#4M/N+*Y4M#.A1P.N#Z>]6
MZJ:C>QZ=IMS>R#*6\;2$9QG`SBD!@:/X#T?0]2CU"S:Y\Z-64>9+D$$8.1BK
M>L+YNO:/$>@=Y/R`Q6+X=^(47B'68M-CTR6$R*S&1I0P4`9Z8_"MO6&$6O:1
M*WW2[QY]R!BN;%?!KW7YHWP_QZ=G^3-6[M8;RW:&=`R,.0:X#6=$FTF;/,EN
MQ^23T]C[_P`Z]'K+UR\MK/39&N460,-HC/\`&?3_`.O6..PM.M3<I.S74UP>
M)J4II1U3Z'!V6I75@LJV[[1(I5AZ'U'O7:>&[6UM],5[=UE,GS22#N?3VQ7&
M7.FW5I:0W,L6V.49&/X?0'TXIVEZM<:5<>9%\T;??C)X8?T/O7C82N\-52K+
M3IY7ZH];$T%B*;=)Z_G8],[UA6BB+Q??*.!+`CGZ@XK2T^_@U"V6>!]RGMW!
M]#69:'S?&%^XY$4"(?J>:]ZK.,G!QUN_T9XM.+BII]OU1Y5\1O\`D>;_`/W8
MO_0!7=>#O$^AV'A'3K6[U2VAGCC(>-WP5.XGFN%^(W_(\W_^[%_Z`*=I/P^U
MG6=+@U"VELQ#.I91)(P;J1S\OM76<QWOB/QWH<6BW<5I>QW=Q-$T<<<1SRPQ
MDGH`*\P\(6DEWXMTJ&($E9UD;'95^8G]*Z*+X4:X[@275C&O=@S-^FT5WGA7
MP99>&$>57-Q>R#:\[#&!Z*.PH&>;>,?$U_K_`(AETRUF<6B3?9X;>-L>:P.W
M)]<GIZ5<7X2ZP;?S#=6*RXSY7S=?3=BM/7?B!IMAJ$D.D:/:3RQ2$&YD0`%P
M>=H`R>>^15?_`(2/XA:F!]DTYX4?HR6FT?F]`&3X-UO4M!\40Z5-))]GDN/L
MTUN[9"-G;E?0@^G45V_Q5`/A%,C/^EQ_R:O,='$P\96`N6+7`U!!*6.27W\Y
M/?G->G?%3_D44_Z^H_Y-0!Y'9R7SQOIMEYI%XZAX8AS*1G`..HY/'2N\\%>#
MM<TCQ)!>7MB(H/)D4MYJ':2O`(!S5?X46L4NO7ERZ@O!``A/;<>3^0Q^->P4
M`?/6N^%=2\-"!M06!1<%@GE/NZ8SG@>M/T3P?JOB2TFN+!+=DC?RV\V3:<X!
M]/>NU^+_`/JM'_WY?Y+5OX2?\@*__P"OK_V1:!&+\5H]D^C(X&Y8'!_-:YG0
M]#UCQ/&-/LS_`*);$N?,;;%&S=^.I-=9\7?^/_2O^N4G\UK;^%*J/"DS`#<U
MV^3Z_*M`SS77_#.H^&;J%+T1D2`M%-"Q()'7!X((R*]3^'FNSZQX=<7DF^>T
MD\II&/++@$$GUQQ^%9'Q>_X\-*/_`$V?_P!!K,\#2O#X%\4R1_?5&((_ZYF@
M#'\5^*;[Q1JK6=HTOV'S/+M[>/\`Y;'.`Q'<GL.U2R?#'Q`FGFX\NU9P,FW6
M3+_3IC/XUS>E7-Y9:C!<:<I-W$28@L?F'."/NX.>,UU/_"9>.O\`IX_\%X_^
M)H$1>"?%UUH>IQ6%W*[:=*_ELDA_U#$XR,]!GJ*Z;XO@'3]*R`?W[_\`H-><
MWEIJ][<SW4VGW9FF8NY6V8`L>2<`<5WGQ+:1O#7A]I@1*>7!ZY\L9H`X*R74
MM1C31K%99DDD,HMH^C-@#<?H!WX%=EH>E:WX'@U;5[VR2/;9[(CYBL"Y=0`<
M'\?PJ_\`"*UC*ZG>%5,H9(@WHN"3^9Q^5=_K&FQ:QI%WITK%4N(RFX=5/8_@
M<&@9X186&J>+M;,(G$]Y("[27$F``.O\^@%6O$/@O5/#5LEW=F"2`N$\V%B=
MK'IG(!'UI=1\(>(M`NM_V6=Q&<I=6F6'UXY7\:=;>.O$=F?*EO?M"@\Q7<0?
M\\\_K0([;X8^);C4XKC2[V8S2VZB2*1CEBA."">^#C\Z]$KB_!?B^U\1%[=[
M2.UU"-=S+&/ED7/53UZXR#7:4AA1110`4444`%%%%`!1110!D^)_^15U;_KT
ME_\`037DGPU_Y'>V_P"N,O\`Z#7M%]:1W]A<6<V[RYXVC?:<'!&#BN>T;P'H
M^A:E'?V;W1F164>9*&&",'C%,#1\2Z'%XAT2>P?`9ANB<_P..A_I]":\=\)^
M&9M9\4?V?=1%(K1BUXI[!3C;^)X^F:][J%88HW=TC17D.695`+?7UI`17P":
M9<A0`!"V`.WRFO"_`?\`R.>D?[Y_]`:O>IHEGADB?.UU*G'7!&*Y;2OAYHNC
MZE;W]J]V9H#E-\H(Z$<C'O3`Y3XN?\A/2_\`KC)_Z$*@\&^/-/\`#>A?8+FU
MNI9/.>3=$%Q@X]2*[_Q!X1TWQ+/!-J#7`:!2J^5)M&"<\\>U9'_"J_#W]^^_
M[_#_``H`S+WXMVXB(L-+F:0CAKAPJC\!DG]*X.*+5?%_B`\F>[N&S(^/EC7I
MD^B@5ZC'\+?#J,&<7D@'\+3\?H!73:9I&GZ/;^1I]I%;QGDA!RQ]SU/XT`&G
M:9!IVD6^F1+N@BB$6"/O#')/UY_.O%?$GA^]\(:\LD!=+?S/,L[A>V#D*3ZC
MT[BO>JKW=G;7]N]M=P)/"XPR2*"#2`X'2OBM8O;*-4M9XK@##-`H=&/J.<CZ
M5S_C'Q__`&[9-IVGPR06C$&627`:0#D#`Z#-=A<_"_P[/(7C%W;@_P`,4V5'
M_?0-6],^'OA_2YEF%L]S*IR&N7W@'Z<#]*8&#\,?#<UG'+K5Y&8WG3R[=&&#
MLZEOQP,>P]ZZCQ9;M)I0F3.Z!Q)D=0.A_GG\*Z"HY8DFC:-P&5@5(/<&L:]+
MVE.4>Y=*?)-2[')VWC/;:A;BV9YU&-R$`-[^U0:='/XDU;[3=@?9H#PH^[GL
M!_,U(_@R0W1V72"V)XRI+@>GH?K746-C#86JV\"[54?B?<^]>90H8FK)+$?#
M'TU/1K5<-3BW0^)_@2W%M%=6SP2H'C<8*FO.]7TB72;K8<M"_,<GK['WKTD5
M5OK&"^M6@G7<C?F#ZCWKJQN#CB(::26QS83%NA+7X7N>;V=]<V$OF6TI1CP1
MU#?45U_A2*1[:XOI>7N9"<^H'_UR:SCX-N?M.T7,?D9^^0=^/ITS776UO':6
M\=O$-L<:A5%<67X6M"I>KHELO-G7C\32G"U/5O?T/$OB+_R/-_\`[L7_`*`*
M]0\`_P#(CZ7_`-<V_P#0C46K^`]%UO4Y;^\^T^?*%#;)=HX&!QCVK<TK38-'
MTR#3[7=Y$`*IO;)ZD\G\:]P\DO5#.K/;R(AP[*0I]#BIJ*0'SMH-Y'H/B6VN
M=0MFD%I*1+%CY@P!&<'N#S^%>H7?Q2T**T,EL+FXGQ\L7E%.?<G@?K6KK?@C
M1->G-S<V[QW!',T#;&;Z]C^(JC9?#/P[:2B22&>Z(Z+/+E?R`&?QI@>1Z=?K
M'XCM=2N3A!=K/*4&<#?N.!7I7Q`U&VU;P!;W]JS-!-<H49E*DCYAT/TK6U3X
M=Z%JMX;MXYK>1L;EMW"JV!CI@X_"KUSX1TNZ\/6^AN)A9P,&0+)\V1GJ?Q-`
M'#?"/_D*:I_UQC_]"->LUS_A_P`):9X;GGFL//WS*%;S9-W`.>/SKH*0'F?Q
M>C8VFE2@'8LDBD^A(!'\C6%X*\;67AC3;NWN[:XE:27S4,6W^Z!@Y(]*]:U/
M2[/6;)[._@$T#\E3Q@CH0>H-<J?A7X>+D[K[:?X?.&/Y9I@<]\6)!+=:/(!@
M/`[8^I6NA^%/_(HR?]?<G\EK9USPAIGB`VQOO._T9"B>7)MX..OY5;T+0;/P
M]8&RL?,\DR&3]XVXY.._X4`<9\7O^/#2O^NS_P#H-0_"RW2[T+6K:7F.:01M
M]"F#79^(/#5AXEB@CO\`SML#%D\M]O)&.:7P_P"&K#PU#/%8>=MF8._F/NY`
MQQ0!XD!?^#_%"[EQ=64N0&X$B],_1@?UKTD?%?1?LGF&UO?M&W_4[!C/INSC
M'O72ZUX;TOQ!`B7]L'9!A)5.UT^A'\NE<O\`\*FT?S<_;[[R\_=RG\]M`'%V
MFN>)O$OB(6]KJ=Y";J4L8X9F"0IGGZ`#_/-=7\6UVZ;I2Y)Q,XR3DGY:[+1?
M#FF>'[9X]/MA&6^_(3N=_J3_`"Z4WQ!X:L/$D4$5_P";M@8LGEOMY(QS0!R/
MPA_Y!VJ?]=T_]!KI?&T-]+X5NVTZ66.YBVR@PL58A3E@,>V:L^'_``U8>&H9
MXK#SMLS!W\Q]W(&.*VJ0'AOA;QQ=Z1JAFU*XN[VTD38RM*7*<Y#*"<?_`*ZV
MO%WC;P_KNCRVUO8RS7;@>7-+$%\H^N<Y_"NIU;X<Z%JMP]PL<MI*YRQ@8!2?
M7:01^6*H0?"C1HY`T]U>S*/X=RJ#^0S3`Y7X7V4\_BEKM%/D6T+"1NV6X`^O
M4_A7M%4=.TRRTFT6TL;9((5YVH.I]2>I/N:O4@"BBB@`HHHH`****`"BBB@`
MHHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`,"
M#7)?^$JU'2;J-(XH+9+F&09RR'AL_0UE:-XV:_\`#FKZG=6R0/8J9$09P\97
M=&3GUJK\0+>]AN[*^TZ"22:Y@ETZ38I.T2`;2<>AS5+Q)HEQ;ZO8Z790N;/5
M+>WLYW520@A<')]/EXI@;EMXO-O>VL.LFULXY-,2\D?<1B1FQL&>O'XUO#6=
M,.F?VG]OM_L.,^?O&STZ_P!*Q!:*WQ+$IM\QQZ2`CE/E4^9C`/3./TKDY+"[
MCT:.9(YHK6TUZ>64+;^9L3)"N(S]X`_SS0!Z)!XATBZT^;4(=0@>TA_ULH;A
M/KZ4W_A(M&\FZF_M.V\JT8)._F#",>@)]:X&]@:]TOQ+J%K<7EZ9+%83-]D$
M,<S!LC:HY9@,\X[UJ>(M->STWP]-:1&"RLY`TYBMQ*8\IA7*?Q8.<^F<T`=E
MIVJV&K6YGT^[BN(@=I:-LX/H?2L:^US4[K7)](T*WMGEMD5[FXNF;RXRW*J`
MO)..:I>$XEN-<U/4XKJ[N5EC2-YWM1!%*PSRHZD@<$X[U&]P/"_B?5Y;^.X7
M3=4"21W<,;/Y;A=I5MH)'J#0!K:5K-[YE];ZY:):2V2B1KF/<8)(\9W*QZ8Q
MR*NIXAT>5;ADU*V9;5%DG82#$:MT)/3FN%M9;J:37H[>75Y],?29#;-?,[&5
M^A901^`XS5K4M*>'P'H!M+9HXX7M[B[6.#>^-N2Q0_>PQR0:`.TL-;TS58))
M[*^@GCB^^RM]SZ^E5[/Q-HE_,\-IJEM+(BEBJOV'4CU`]JXQ2US/K&JVAN=9
M==.,+;[(0P3Y.0A`PSD#/;IQFH+>^6;7/#,PNY;B"&4HPCT\P16Y9,!!QGKQ
MU-`'9>'O%-GX@DNXH'B$D$S*JK)N,D8(`DZ=#FLG5=>\5:9J%G:M9:2POK@P
MVY$LGU&[CCCTJQX0=(+_`%RP>*2.Y&H33@-$0#&Q&TAL8(]LT[Q7%))KWA=D
MC=@E^2Q520HVGD^E`%Q?$<.E01Q^)+RPM+YR3Y44A8;<\'GFI+K7#%K>BV=L
M(9K;41*QE#9X50P*D<'.:YO5[YHO$^J129L'>)$B>#3S/+>C;TWD$#!XQBJ7
MAT/*O@M8XY%>".\BD)C8>6^WH<CW%`'<_P#"0Z/_`&G_`&;_`&E;?;=VWR=X
MSN_N_7VZTR]\2Z-I\LL=WJ5M"\;!'5GY4D9Y'T(KSBVM9#H2:#=W-\MZ)\-8
MPZ<ID\S?GS!*>,=]V>E=5860;6O&,DML69Q&BNT?WQY7('J,^E`&CJ?C#3M+
MU33K-YX&2[!=Y?-`$28RK>X8\"K/BG69M!T"74+>*.61'10LF<'<P';ZUQEH
M6L-+\#7EW;S"&W619V\EF*93"A@!GK71_$*.27P=<K%&\C>9$=J*6/WU["@#
MI+AVCM9)5*!E0L"YPH('?VK/TG5XKVWM8YKJS>^EMQ<%+:0LK+G&Y<\E<]ZR
MSXLT[4[>:RMHK[SI8)`OF6<B+D(3U(P.E<\D=QH_A?PMK\-I+)-8P>3/"J'>
MT;KC&.O#8/XT@.YFU[2H+6>YEU"!(;>4PRN7X60?P_7VHAUS2Y],;48[^W:S
M3.Z8.-JX['T/M7"76D7FD:;X;NI7DB6)I9KV=+?SC%-*,[V3O@DKGM0;*VN]
M*UR^D&JWMM<30%IH+582S(?];&G4[>,Y'..],#O--UO3-85SI]]#<^7]\(W*
M_4=:TJX7PM>3W/B6<I*FIV_V4!M2:Q^SR*V[B,G`W>O3BNZI`%%%%`!1110`
M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1
M110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%
M%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444
M`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`
M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`'_
!V3\_
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
