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ALBERT WHITTED TERMINAL DEDICATED

St. Petersburg, Fla. (December 17, 2007) - Today, Mayor Rick Baker, elected officials and members of the local aviation community dedicated the new Albert Whitted Intermodal General Aviation Center at Albert Whitted Airport, 504 First Street SE in St. Petersburg.

"St. Petersburg, as the birthplace of the world's first commercial air line, has a long and historic tradition with the world of aviation," said Mayor Baker. "Today, with the dedication of this beautiful new terminal, we look to the future of air transportation in our city."

The General Aviation Center is a two-story, 10,600 square foot terminal
building featuring a 64 space landside parking lot and a 12,200 square yard aircraft parking ramp. Ground was broken in April, 2006. The Certificate of Occupancy was issued in October, 2007. Harvard Jolly, Inc. served as the architect, with Caladesi Construction as the general contractor.

Currently, the building is leased by St. Petersburg Flying Services, the
airport's fixed base operator and Avis Rental Car pending Council approval December 20. Other tenants are expected to include additional aviation operators located on the first floor and a restaurant (currently in negotiation) for the second floor space.

Construction cost of the building was $4 million. The city received a grant from the Florida Department of Transportation (FDOT) for 80% of the cost ($3.2 million) to be released in portions over a six year period. Mr. John Galbraith of Galbraith Properties, Inc. provided the city with an interest free loan for FDOT's portion of the project so it could be started immediately. Mr. Galbraith will be repaid as the FDOT funds are released. In addition, Mr. Galbraith donated 10% (or half the city's match of $800,000) with the city contributing the remaining $400,000.

The aircraft ramp portion of the project, totaling $800,000 was paid in part with a 95% grant from the Federal Aviation Authority (FAA) with the city providing the remaining 5%.

The construction of a new terminal building at Albert Whitted Airport had been discussed for years. Originally bid in 1999, the project was postponed after project costs exceeded funds available. Following the 2003 referendum and the recommendations of the Airport Blue Ribbon Advisory Task Force, the project was revived.