Urbana Corporation Purchases Additional CBOE Membership

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

Urbana Corporation ("Urbana") (TSX:URB.A) is pleased to announce that it has
entered into an agreement to purchase an additional membership in the Chicago
Board Options Exchange ("CBOE"), a private entity. 


The cost of this purchase is US$2.425 million. 

Urbana now holds a total of 25 CBOE memberships currently valued at CDN$61.26
million or 35.5% of the company's investment portfolio. 


This investment is within the context of Urbana's current strategy of acquiring
interests 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.