Urbana Corporation/New York Stock Exchange
Toronto, Ontario – April 21, 2005 – On April 20, 2005 the New York Stock Exchange, Inc. (“NYSE”) and Archipelago Holdings Inc. announced that they have agreed to merge, subject to NYSE member approval, Archipelago shareholder approval and U.S. regulators approvals.
If completed, this merger will result in transforming the NYSE into a for profit public company to be called the NYSE Group.
Urbana Corporation (“Urbana”) holds three seats on the NYSE, which it purchased for investment purposes. These seats were purchased between December, 2003 and August, 2004 for an average price of approximately $1.4 million U.S. per seat.
The management of Urbana believe that this merger, if completed, may enhance the value of Urbana’s investment in the NYSE.
Please contact Thomas S. Caldwell at 416-595-9106 for further information.
This press release has not been reviewed by the TSX Venture Exchange.