Mr. Mitchell Cohen reports

URBANFUND CORP. ANNOUNCES REFINANCING OF TORONTO RESIDENTIAL PROPERTY

Urbanfund Corp. has completed the refinancing of its townhouse complex located at 3080 to 3094 Don Mills Rd. and 200 Van Horne Ave., Toronto.

The new $16.3-million mortgage financing, provided by First National Financial LP, carries a fixed interest rate of 3.55 per cent for a term of five years. The refinancing proceeds were used to fully repay the existing mortgage on the property in the amount of approximately $8.0-million, with the remaining funds available to support general corporate purposes and future growth initiatives as determined by the company's board of directors.

About Urbanfund Corp.

Urbanfund is an Ontario corporation listed on the TSX Venture Exchange under the symbol UFC. The company is a reporting issuer in Alberta, British Columbia and Ontario.

Urbanfund's focus is to invest in Canadian real estate and real estate related projects with a focus on a mix of both residential and commercial properties. The company's assets are located in Toronto, Brampton, Belleville, Kitchener and London, Ont., Quebec City and Montreal, Que., and Dartmouth, N.S.

We seek Safe Harbor.