Urbana Corporation-Notice of Intention to Purchase Shares

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

Urbana Corporation ("Urbana") (TSX:URB.A) announced today that the Toronto Stock
Exchange (the "TSX") has accepted its notice of intention to conduct a normal
course issuer bid to enable it to purchase up to 7,431,323 of its non-voting
Class A shares (the "Class A Shares"), representing 10% of the public float,
pursuant to TSX rules.


Purchases under the bid may commence on August 28, 2010, and will terminate on
the earlier of August 27, 2011, the date Urbana completes its purchases pursuant
to the notice of intention to make a normal course issuer bid filed with the TSX
or the date of notice by Urbana of termination of the bid. Purchases will be
made on the open market by Urbana through the facilities of the TSX in
accordance with the rules and policies of the TSX. Caldwell Securities Ltd. will
make all purchases pursuant to the bid on behalf of Urbana. The price that
Urbana will pay for any such shares will be the market price of such shares on
the TSX at the time of acquisition. Class A Shares purchased under the bid will
be cancelled. Urbana will not purchase in any given 30 day period, in the
aggregate, more than 1,500,000 Class A Shares, being 2% of the 75,000,000 issued
and outstanding Class A Shares as at August 24, 2010.


As of August 24, 2010 Urbana has purchased 2,526,320 Class A Shares on the open
market pursuant to a notice of intention to conduct a normal course issuer bid
accepted by the TSX on August 26, 2009 at an average purchase price of $1.34 per
share.


To the knowledge of Urbana, no director, senior officer or other insider of
Urbana currently intends to sell any Class A shares under the bid. However,
sales by such persons through the facilities of the TSX may occur if the
personal circumstances of any such person change or if any such person makes a
decision unrelated to the bid. The benefits to any such person whose shares are
purchased would be the same as the benefits available to all other holders whose
shares are purchased.


Urbana believes that the market price of its Class A Shares at certain times may
be attractive and that the purchase of Class A Shares from time to time would be
an appropriate use of corporate funds in light of potential benefits to
remaining shareholders.


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. Unless required by applicable
securities law, Urbana does not assume any obligation to update these
forward-looking statements.