Mitchell Cohen, President and Chief Executive Officer of Urbanfund Corp. (TSX
VENTURE:UFC) (the "Company"), is pleased to announce the appointment of Victor
Safirstein as Interim Chief Financial Officer of the Company, effective as of
August 17, 2011.


Mr. Safirstein, a Chartered Accountant, has significant experience in both the
real estate and financial industries. Mr. Safirstein is the Chief Financial
Officer at Westdale Construction Co. Limited, a large commercial and residential
real estate management firm with properties across Canada. Mr. Safirstein has
worked for more than 15 years in various financial capacities at Westdale. 


Mr. Safirstein will replace Donato Caprara, who tendered his resignation as CFO
of the Company effective June 30, 2011. Mr. Safirstein's appointment remains
subject to regulatory approval, including approval of the TSX Venture Exchange.


Urbanfund Corp. is a Toronto-based real estate development and operating
company. The Company's common shares trade under the symbol UFC on the TSX
Venture Exchange. Urbanfund's focus is to identify, evaluate and invest in real
estate and real estate related projects. The Company's assets are located in
Toronto, Belleville and London, Ontario. The Company's strategy going forward
remains committed to seek accretive real estate or real estate-related
opportunities.
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