URB.A Urbana Corporation

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

Since May 20th, 2010, Urbana Corporation ("Urbana"), as part of a Normal Course
Issuer Bid ("NCIB"), has purchased 1,726,320 Urbana Class "A" shares
(TSX:URB.A). 


The URB.A shares were purchased on the open market at purchase prices ranging
from $1.30 to $1.55. 


These NCIB purchases have reduced the number of URB.A shares outstanding to
75,800,000. 


Urbana's Net Asset Value ("NAV") per share is $1.92, as of July 6th, 2010. 

No director, senior officer or other insider of Urbana currently has sold 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. 


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.

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