Urban Television Network Corporation Acquires $4.6 Million in Assets

Urban Television Network Corporation Acquires $4.6 Million in Assets

DALLAS and FORT WORTH, Texas, Oct. 12 /PRNewswire-FirstCall/ -- Urban Television Network Corporation (BULLETIN BOARD: URBT) announced through the issuance of a Form 8-K, that the company has entered into a stock/commodity exchange agreement with GEOTEC Thermal Generators Inc., a Florida Corporation. URBT acquired two hundred thousand tons of mined coal with a minimum appraisal value of $4.6 million in exchange for one hundred thousand preferred shares of its stock that is convertible to $4.6 million worth of common stock.

"As part of our extreme makeover of the company, we are focused on building assets and revenues. This acquisition diversifies and builds our asset base and improves the book value and balance sheet of URBT," says Jacob R. Miles III, Chairman and CEO of URBT. Additional details regarding the stock /commodity exchange agreement can be found in the company's Form 8-K filing with the Security and Exchange commission filed October 04, 2005.

About Urban Television Network Corporation

Fort Worth, Texas based Urban Television Network Corporation is a television network composed of broadcast television station affiliates across the country that air programming supplied by the network via satellite transmission. The network is the first and only minority certified network to specifically target America's urban market that is comprised of African Americans, English speaking Hispanic Americans and many other urban consumers. The network has approximately 70 affiliates with a household coverage of approximately 22 million households. For additional information about Urban Television Network Corporation visit us on the Internet at http://www.uatvn.com/ .

Forward-Looking Statements

This document contains forward-looking statements and information as that term is defined in the Private Securities Litigation Reform Act of 1995, and, therefore, is subject to certain risks and uncertainties. There can be no assurance that the actual results, business conditions, business developments, losses and contingencies and local and foreign factors will not differ materially from those suggested in the forward looking statements as a result of various factors, including market conditions, competition, advances in technology and other factors.

For Media and PR inquiries please contact: Cesar Muniz at 305-360-0649 or investor_relations@uatvn.com .

Source: Urban Television Network Corporation

CONTACT: Cesar Muniz of Urban Television Network Corporation, +1-305-360-0649, or investor_relations@uatvn.com

Web site: http://uatvn.com/

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