Urbana Corporation ("Urbana") (TSX:URB)(TSX:URB.A)(TSX:URB.WT)(TSX:URB.WT.A) is
pleased to announce that it has entered into an agreement to purchase a
membership on the American Stock Exchange ("AMEX"), a private entity, for
approximately US$360,000. The AMEX has been in existence for more than a century
and has been a pioneer in market innovation. This purchase increases Urbana's
stake in the AMEX to 5 memberships with an approximate value of CDN$2 million.


As it seeks North American and International opportunities in the exchange
sector, Urbana also holds a cash position in excess of CDN$55 million. All of
these funds are held directly in government guaranteed Treasury bills. Urbana
owns no commercial paper or money market funds.


Urbana is an investment corporation that is listed on the Toronto Stock
Exchange. Urbana's current focus is buying memberships and shares of private and
public securities exchanges in North America and around the world.


Forward Looking Statements

Certain statements in this press release constitute "forward-looking" statements
that involve known and unknown risks, uncertainties and other factors which may
cause the actual results, performance or achievements of Urbana to be materially
different from any future results, performance or achievements expressed or
implied by such forward-looking statements. There is no assurance that the
membership purchase announced will be completed, or that if completed, such
membership purchase will be a profitable investment for Urbana. Unless required
by applicable securities law, Urbana does not assume any obligation to update
these forward-looking statements.


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