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Urbanfund Corp. Announces Appointment of Interim Chief Financial Officer

TORONTO, ONTARIO -- (Marketwire) -- 08/18/11 -- Mitchell Cohen, President and Chief Executive Officer of Urbanfund Corp. (TSX VENTURE: UFC) (the "Company"), is pleased to announce the appointment of Victor Safirstein as Interim Chief Financial Officer of the Company, effective as of August 17, 2011.

Mr. Safirstein, a Chartered Accountant, has significant experience in both the real estate and financial industries. Mr. Safirstein is the Chief Financial Officer at Westdale Construction Co. Limited, a large commercial and residential real estate management firm with properties across Canada. Mr. Safirstein has worked for more than 15 years in various financial capacities at Westdale.

Mr. Safirstein will replace Donato Caprara, who tendered his resignation as CFO of the Company effective June 30, 2011. Mr. Safirstein's appointment remains subject to regulatory approval, including approval of the TSX Venture Exchange.

Urbanfund Corp. is a Toronto-based real estate development and operating company. The Company's common shares trade under the symbol UFC on the TSX Venture Exchange. Urbanfund's focus is to identify, evaluate and invest in real estate and real estate related projects. The Company's assets are located in Toronto, Belleville and London, Ontario. The Company's strategy going forward remains committed to seek accretive real estate or real estate-related opportunities.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Urbanfund Corp.
Mitchell Cohen
President & CEO
(416) 703-1877 x225

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