NEW RETAIL CONCEPT TO OPEN AT BLUE GRASS AIRPORT; LEXINGTON TO HOST FIRST NEW YORK TIMES BOOKSTORE IN NATION

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Lexington, KY - Blue Grass Airport today announced that The Paradies Shops, an airport and hotel retailer, The New York Times and MODA International Marketing, the licensing agency representing The New York Times have released plans for the development of the nation's first New York Times Bookstore at Blue Grass Airport in Lexington, Kentucky.

The New York Times Bookstore, scheduled to open in October 2005, is a new retail concept that will highlight the New York Times' celebrated experience with best selling books and offer a number of unique features that will make this store a "must-see” when traveling through Lexington. The bookstore will offer: an on-line station allowing customers to log on to The New York Times Web site; a plasma screen television running select excerpts and programming from the Discovery Times Channel along with videos relating to books, current news and documentaries produced by The New York Times; and New York Times gifts and specialty items.

The New York Times Bookstore will be located in Concourse B at Blue Grass Airport directly across from the Bourbon Bar restaurant. The Paradies Shops currently operates two news and gift shops and The Paddock Gallery at the airport.

"It is extremely exciting to see to this project come to fruition,” said Gregg Paradies, president and CEO, The Paradies Shops. "The New York Times is the most respected authority for best-selling books and The New York Times Bookstore will reflect their expertise. We will create more than a bookstore by building a destination that celebrates the New York Times brand.

Christian Edwards, president The News Services division of The New York Times, stated, "We are pleased to join The Paradies shops and MODA International Marketing in announcing the opening plans for our first airport bookstore. As the nation's leading seven-day newspaper, The Times is honored to have its first bookstore open in this critical region, reinforcing our expanded distribution and printing plans as announced last fall.”

"We are thrilled to join The Paradies Shops and The New York Times in making this new retail concept a reality in Lexington. Blue Grass Airport has won a reputation for going above and beyond to provide our customers with a superior air travel experience and The New York Times Bookstore allows us to take our customer's travel experience to the next level,” said Michael Gobb, executive director for Blue Grass Airport.

Michelle Alfandari, president MODA International Marketing, said, "The New York Times branded retail stores is a great example of extending the brand of The Times through licensing to new products, services and channels of distribution. The New York Times Bookstore creates greater convenience and opportunities for hundreds of thousands of passengers who will travel through Blue Grass Airport to access the news and entertainment content of The Times as well as related products that will be available at the Store."

About The New York Times
The New York Times Company (NYSE: NYT), a leading media company with 2004 revenues of $3.3 billion, includes The New York Times, the International Herald Tribune, The Boston Globe, 16 other newspapers, eight network-affiliated television stations, two New York City radio stations and more than 40 Web sites, including NYTimes.com, Boston.com and About.com. For the fifth consecutive year, the Company was ranked No. 1 in the publishing industry in Fortune's 2005 list of America's Most Admired Companies. The Company's core purpose is to enhance society by creating, collecting and distributing high-quality news, information and entertainment.

About The Paradies Shops
Established in 1960, The Paradies Shops is an Atlanta-based family-owned business operating over 400 stores in 62 airports across the United States and Canada. The company has been recognized by World Airport Revenue News, the airport industry's leading publication, as the "Best Airport Retailer” for ten consecutive years. With extensive experience in operating both local and national brands, including CNBC, PGA TOUR, Brooks Brothers, Brighton Collectibles, and Harley Davidson, The Paradies Shops maintains a substantial presence operating in more airports than any other retail concessionaire. For additional information, please visit www.theparadiesshops.com.

About MODA International Marketing
MODA International Marketing is a full service licensing and marketing company with offices in New York and Geneva. MODA specializes in the global representation of brands, trademarks and patents. MODA is proud to have delivered untapped profits across diverse industries and distribution channels for the following major brands:

The New York Times*; Champion® Athleticwear (a division of Sara Lee Corporation)*; Lycra® (Invista, formerly DuPont Textiles and Interiors)*; Trader Vic's*, Bollé®, Bushnell® and Tasco® (Bushnell Performance Optics)*; National Trust for Historic Preservation*; Ritz Hotel Limited – Ritz Paris; Unipal Corrugated Pallets (Mondi-Anglo American plc)*; Better Homes and Gardens (Meredith Corporation); Snap-on Tools; Mack Trucks, Inc; Victoria and Albert Museum-London; and AskJeeves.
*Indicates current clients

About Blue Grass Airport
Blue Grass Airport is served by six major airline brands providing convenient nonstop service to 16 major hub cities and direct service to hundreds of destinations worldwide. The airport proudly serves over one million Central and Eastern Kentucky travelers each year.