URB.A Urbana Corporation

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

Thomas S. Caldwell ("TSC") has acquired 1,005,014 common shares of Urbana
Corporation ("Urbana") (TSX:URB.A) pursuant to a private agreement for $1.44 per
common share. As a result of this acquisition, TSC now owns 4,231,161 common
shares of Urbana representing 42.31% of the issued and outstanding common
shares. Additionally, TSC has voting control over 390,361 common shares of
Urbana, representing 3.90% of the issued and outstanding common shares, that are
subject to previously disclosed voting trust agreements with several other
shareholders of Urbana that are employed by Caldwell Financial Ltd. or its
subsidiaries, and 137,700 common shares of Urbana, representing 1.38% of the
issued and outstanding common shares, that are owned by entities controlled by
TSC. In total, TSC currently owns or controls 4,759,222 common shares of Urbana
representing 47.59% of the issued and outstanding common shares.

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