Urbana Corporation Makes a $26.5 Million Investment in the Bombay Stock Exchange

Toronto, Ontario – May 16th, 2007 – Urbana Corporation (“Urbana”) (TSX: URB/URB.A /URB.WT) is pleased to announce that it has taken a CDN$26.5 million interest in the Bombay Stock Exchange (“BSE”).

 

This purchase is being made indirectly by way of an investment in shares of Caldwell India Holdings Inc. (“CIH”) and was facilitated by Caldwell Asset Management Inc. (“CAM”). CIH is a corporation established under the laws of Mauritius for the sole purpose of investing in exchange properties and other holdings in India for clients of CAM and Caldwell Investment Management Ltd., Urbana’s investment manager.

 

CIH’s inaugural investment is the acquisition of 308,888 shares of the Bombay Stock Exchange (“BSE”) at a cost of Rs1.624 billion (CDN$43.5 million). This purchase represents 4% of the outstanding shares of the BSE. Urbana currently owns 60.9% of CIH’s equity shares.

 

A privately owned corporation based in India’s financial capital, Mumbai, the BSE is the oldest stock exchange in India and is one of the country’s two major equity bourses.

 

Urbana is an investment corporation that is listed on the Toronto Stock Exchange. Urbana’s current focus is buying seats and shares in private and public securities exchanges in North America and around the world.

 

Please contact: Elizabeth Naumovski, Investor Relations at 416-595-9106 for further information.