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

Urbana Corporation ("Urbana") (TSX:URB)(TSX:URB.A) is very pleased with the
announcement that the IntercontinentalExchange ("ICE") has agreed to buy NYSE
Euronext ("NYX") in a stock and cash transaction valued at US$8.2 billion, or
US$33.12 a share.


After the Chicago Board Options Exchange ("CBOE"), NYX is Urbana's second
largest holding. Urbana owns 1,650,000 NYX shares worth US$39 million prior to
the transaction.


At the announced price, the proposed NYX/ICE transaction adds US$15 million to
the value of Urbana's portfolio.


Thomas S. Caldwell, C.M. President

FOR FURTHER INFORMATION PLEASE CONTACT: 
Urbana Corporation
Elizabeth Naumovski
Investor Relations
416-595-9106
416-862-2498 (FAX)
www.urbanacorp.com
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