Urbana Corporation Is Pleased With Reports That 4% of the Bombay Stock Exchange Has Been Purchased for $40 Million

NOT FOR DISTRIBUTION TO U.S. WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

Major financial journals worldwide have reported that Mr. George Soros, through
his investment firm, has acquired a 4% stake in the Bombay Stock Exchange
("BSE"), pending regulatory approval. 


Urbana Corporation ("Urbana") (TSX:URB.A) beneficially owns over 2.8 million
shares of the BSE, representing 2.6% of the exchange. In aggregate, funds
managed by Caldwell Investment Management Ltd. ("Caldwell"), Urbana's investment
manager, beneficially own 4.25% of the BSE. 


Reports have stated that the recent purchase price is approximately $40 million,
which values the entire BSE at $1 billion. Should this reported valuation prove
to be correct, it represents a 20% increase over the price at which Urbana
currently values the BSE in its portfolio. 


The BSE comprised over 15% of Urbana's investment portfolio, which makes Urbana
the only public company in the world with such a significant weighting in Asia's
oldest securities exchange. 


Through Caldwell, Urbana has been a BSE shareholder since 2007 and has purchased
additional BSE shares this year because of the strength and performance of the
BSE's new management team. The BSE has also expressed its intent to become a
public company in 2011. 


The BSE holding in Urbana is made within the context of the company's current
strategy of investing in businesses within the financial services sector. Urbana
is an investment corporation listed on the Toronto Stock Exchange (TSX:URB.A).
Urbana also has interests in numerous North American and international
securities exchanges. 


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.