URB.A Urbana Corporation

Urbana Corporation (TSX:URB.A) - 

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

Yesterday, the Chicago Board Options Exchange ("CBOE") announced that it has
reached a settlement with the plaintiffs in a class action suit launched by the
former members of the Chicago Board of Trade. This suit had been the major
impediment to the CBOE management's plan to demutualize and launch an Initial
Public Offering ("IPO"). The settlement is subject to court approval and a CBOE
member vote. Details are available on Urbana's website in "News Releases"
section: www.urbanacorp.com.


Urbana Corporation ("Urbana") owns 20 CBOE seats. As of the close of trading on
Friday May 30th, the value of these seats was US$56 million.


"We are very pleased with the agreement that the CBOE's management has
negotiated," said Thomas S. Caldwell, Chairman of Urbana. "We believe that the
intended IPO will be very positive for the CBOE and for Urbana's considerable
investment in that exchange."


Urbana is an investment corporation that is listed on the Toronto Stock
Exchange. Urbana's current focus is buying memberships and shares in 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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