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NEWS RELEASE
FOR IMMEDIATE RELEASE DECEMBER 18, 2002
NEW YORK CITY, (December 18, 2002) - - - MFC Bancorp Ltd. (Nasdaq: MXBIF and Frankfurt Stock
Exchange: MFC GR) today announced that 203,009 common shares of Med Net International Ltd. ("Med Net")
have been tendered to MFC's offer dated November 7, 2002 to purchase all of the issued and outstanding
common shares of Med Net (the "Offer"). As a result, MFC has taken up and owns an aggregate of
approximately 520,545 Med Net common shares, representing approximately 15.0 % of the issued and
outstanding Med Net common shares. The previously announced number of common shares of Med Net
tendered to the Offer included shares that were inadvertently deposited with the Depositary.
MFC has announced that it has extended the expiry time of the Offer for Med Net common shares from 12:00
a.m. (PST) on December 17, 2002 to 4:00 p.m. (EST) on January 17, 2003 in order to allow shareholders of
Med Net that have not as yet been able to tender their common shares pursuant to the Offer additional time to do
so. Contact information is provided above if you require further information regarding the Offer.
Certain statements included herein are "forward-looking statements" as defined in the Private Securities Litigation
Reform Act of 1995. Management of MFC cautions that forward-looking statements are not guarantees and that
actual results could differ materially from those expressed or implied in the forward-looking statements. Important
factors that could cause the actual results of operations or financial condition of MFC to differ include, but are not
necessarily limited to, the risks and uncertainties discussed in documents filed by MFC with the Securities and
Exchange Commission.
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Contact: Allen & Caron Inc. Rene Randall
Joseph Allen (investors) (604) 683-8286
(212) 691-8087 rrandall@bmgmt.com
joe@allencaron.com ------------------