Bathroom exhaust fan (no attic)

I recently bought a cape style home with 2-bathrooms, one of which is on the second floor. There is nothing to help ventilate that room. No window, No exhaust fan. I want to install an exhaust fan, however every 'how-to' book and every bit of advice that I have read about exhaust fans assumes you have an attic. Any tips on how to accomplish this task without having an attic.
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does the room have an exterior wall?
maybe you can vent through it if so

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What are the pros and cons of venting to the roof vs running a duct to a soffit?
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