Urban Communications Inc. announces closing of acquisition of Internet services provider at Simon Fraser University residences



    
    Stock Symbol: UBN
    Exchange: TSX Venture Exchange
    

    VANCOUVER, Oct. 29 /CNW/ - Urban Communications Inc. (TSX-V: UBN) is
pleased to announce that it has completed the acquisition of the subscriber
base of Connect West Networks Ltd. and has commenced service to its new
customers. Connect West was the provider of Internet service to all of the
1,850 student residence units at the Burnaby campus of Simon Fraser
University. The agreement to make this purchase was announced September 11,
2008.
    Urban's advanced fibre optic network delivers basic Internet service at
10 Mbps, with available upgrades to 100 or 1000 Mbps with commercial grade
reliability. Students will also have the ability to transmit data over the SFU
internal network at 100 Mbps for research and other extreme bandwidth
applications.
    According to Chris Rogerson, Acting Director, Residence and Housing, at
Simon Fraser University, "We are looking forward to this new collaboration
with Urban Networks to provide our residents with improvements to Internet
service as well as network infrastructure. Post-secondary students, now more
than ever, rely on the Internet for personal as well as academic pursuits, and
therefore providing a quality Internet service to our residents is imperative
to our operations."
    "We are pleased to be able to impress the most demanding power users with
the speed and reliability of our state-of-the-art FTTP service," said Murray
Klippenstein, CEO of Urban Networks Inc.
    As previously announced, Urban has issued a combination of cash and
common shares to satisfy the purchase price.
    The Company intends to continue to pursue other acquisition and strategic
alliance opportunities in order to increase its subscriber base and recurring
revenues.

    About Urban Communications Inc.

    Urban Communications Inc., through its operating subsidiaries, is a full
service telecommunications company providing a range of next generation IP
application services to residential and commercial customers in British
Columbia. The Company's services include developing and operating leased fibre
optic networks, providing a full suite of Internet, voice, video and broadband
application products, engineering, design and construction of advanced
telecommunications systems to facilitate delivery of video, telephone and
broadband Internet services, outside plant and maintenance of the networks. To
third party carriers and service providers, Urban is a telecommunications
integration company providing end-to-end, turnkey services to meet the demands
of its diverse, national telecommunications customers who require the full
scope of fibre, cable and wireless technical services. Urban can deliver cost
effective media rich solutions via state-of-the-art carrier grade
infrastructure designed to reach both residential and business consumers.

    Except for historical information contained herein, the statements in
this news release contain or may contain forward-looking statements, such as
statements regarding Urban Communications Inc.'s future growth and
profitability, growth strategy and anticipated trends in the industries in
which Urban Communications Inc. operates. These forward-looking statements are
based on Urban Communications Inc.'s current expectations and are subject to a
number of risks, uncertainties and assumptions. Should one or more of these
risks or uncertainties materialize, or should the underlying assumptions prove
incorrect, actual results may differ significantly from results expressed or
implied in any forward-looking statements made by Urban Communications Inc. in
this news release. These risks and uncertainties include, among other things,
raising significant investment capital, locating and retaining senior
technical and financial expertise, customer loyalty, demand for services,
market competition and other risks detailed in documents filed with the TSX
Venture Exchange or British Columbia Securities Commission. Urban
Communications Inc. does not undertake any obligation to revise these
forward-looking statements to reflect future events or circumstances.

    
    The TSX Venture Exchange has neither approved nor disapproved of the
    information contained herein.
    





For further information:

For further information: Urban Communications Inc. contact: Glen Watson,
Tel: (778) 330-2500, gwatson@ubn.ca, www.ubn.ca

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URBAN COMMUNICATIONS INC.

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