Mr. Thomas Caldwell reports

URBANA CORPORATION ANNOUNCES INVESTMENT IN BLUE OCEAN TECHNOLOGIES, LLC

Urbana Corp. has made a new investment in United States-based Blue Ocean Technologies LLC, a private company that facilitates the trading of U.S. listed equities in the overnight hours of 8 p.m. Eastern Time to 4 a.m. Eastern Time.

This investment is taking place in two stages:

1. The first involves a direct payment to Blue Ocean of $1.5-million (U.S.).
2. The second stage takes place when certain conditions are met regarding regulatory approvals, staffing and technology transfers. This will result in a second direct payment to Blue Ocean of $3-million (U.S.).

Concurrent with this latter purchase, Urbana will also purchase $4-million (U.S.) of Blue Ocean shares from an existing shareholder.

The net result of these steps, coupled with key employee dilution, is Urbana will own approximately 37 per cent of Blue Ocean at a price of $8.5-million (U.S.) or approximately $10.6-million.

These purchases are being made through Urbana International Inc., a Delaware-incorporated, wholly owned subsidiary of Urbana.

Ralph Layman, chief executive officer of Blue Ocean, noted: "Urbana's management are thought leaders in our industry, with investments in exchanges and trading platforms around the world. As a part of our partnership, we will also enter into a strategic alliance with the Canadian Securities Exchange. We look to collaborate through best practice sharing on technology and growing our Asia-Pacific customer bases."

Richard Carleton, CEO of the Canadian Securities Exchange, said: "The CSE looks forward to working with our colleagues at BOT as they provide regulated and accessible trading services in U.S. stocks to investors around the world during the evening and overnight hours in North America. We share a common technology platform with BOT and will collaborate on ways to improve investor access to their marketplace."

Urbana's chairman, Thomas S. Caldwell, CM, stated, "Urbana views this as a great opportunity to participate in Asia/America securities trading."

We seek Safe Harbor.