Urban Communications Inc. Announces Completion of Partial Sale of Network Assets to Rogers Communications

VANCOUVER, BRITISH COLUMBIA — (Marketwire) — 08/02/11 — Urban Communications Inc. (TSX VENTURE: UBN) is pleased to announce that the agreement to sell a portion of its network assets to Rogers Communications Partnership has been completed. The agreement was first announced on March 10, 2011. This transaction represents a significant achievement by management to not only preserve value for shareholders when the Company has been on the verge of involuntary liquidation, but to also provide the