LEXINGTON-FAYETTE URBAN COUNTY AIRPORT BOARD SELECTS EXTERNAL AUDITOR CROWE HORWATH LLP

May 13, 2009 – Today the Lexington-Fayette Urban County Airport Board selected Crowe Horwath LLP (Crowe Horwath) to provide annual external audit services for the fiscal years ending June 30, 2009, 2010 and 2011.

For 14 consecutive years, Crowe Horwath has been ranked by Public Accounting Report as one of the top 10 public accounting and consulting firms in the United States. Crowe assists clients in reaching their goals through audit, tax, risk and consulting services. It maintains 25 offices throughout the country, including a local office in Lexington, Kentucky. Crowe has an industry specialty serving more than 400 governmental and non-profit organizations across the United States. Audit and consulting clients include airports such as Fort Wayne-Allen County Airport Authority, Memphis International Airport and Nashville International Airport.

“The Airport Board has placed tremendous emphasis on researching auditors and seeking the best fit,” said Bobby Owens, chairman of the Lexington-Fayette Urban County Airport Board. “We have worked aggressively to select an auditor with a strong reputation and an insight and knowledge of airport operations and Sarbanes-Oxley provisions, which are being implemented as part of our process. The team Crowe Horwath has created is one we are excited to be working with to test our internal controls and recommend best practices for our accounting procedures and reporting.”

The audit team will report directly to the Lexington-Fayette Urban County Airport Board. Crowe Partner Scott Nickerson and Audit Executive Laurie Haun will lead the team with a combined 39 years of auditing experience. Their backgrounds include strong knowledge of auditing airports, government entities and nonprofit agencies. In addition, the audit team will include a member with previous work experience at the Kentucky State Auditor’s office and a partner with a focus on enterprise risk management.

“The management team at Blue Grass Airport is looking forward to providing Crowe Horwath and the Airport Board with a smooth transition and transparent review of the airport’s finances and operations,” said Eric Frankl, interim executive director of Blue Grass Airport. “This is an effort that parallels our ongoing staff reorganization process and is another important step to regaining the public’s trust and ensuring accountability.”

Crowe Horwath will provide an independent audit process with a transparent approach. They will assist the Airport Board in troubleshooting and developing better business processes and procedures to operate the airport more efficiently. Crowe Horwath will assess key business risks unique to the airport industry and recommend to management best practices for improved performance.

“On behalf of Crowe Horwath and our audit team, we are excited to be selected to perform the external audit and look forward to collaborating with the Airport Board, management and other stakeholders,” said Scott Nickerson of Crowe Horwath. “We hope to be a major contributor to the Airport Board’s plan for continuous improvement of the organization through a positive interactive approach, a high level of professional skepticism and using a comprehensive approach to enterprise risk and internal controls.”

Blue Grass Airport, Official Airport of the 2010 Alltech FEI World Equestrian Games, is served by six major airlines providing convenient non-stop service to 13 major hub cities with connecting service to hundreds of destinations worldwide. The airport proudly serves over one million central and eastern Kentucky travelers every year.

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