Urbana Corporation Update Re: NYSE Group Inc. Holdings
Toronto, Ontario — March 7, 2007 — Urbana Corporation (“Urbana”) (TSX: URB / URB.A / URB.WT) announces that the sale and transfer restriction on one-third of the NYSE Group Inc. (“NYX”) common shares held in Urbana’s investment portfolio has been released today. As a result these NYX common shares are now freely tradable. Urbana’s current intention, however, is to maintain its NYX position as a long-term holding.
Urbana also announces that, for financial reporting purposes, and with the approval of its auditors, it will record the value of any restricted NYX common shares at a discount rate of prime plus 1% up to the date when Urbana expects such shares to become freely tradable. This will result in an adjustment of less than 2% to Urbana’s previously published weekly net asset value calculations.
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 416-595-9106 for further information.