Flying Cloud Airport Enhancement Program Officially Underway

Project Involves Airfield, Building and Utilities Improvements
EDEN PRAIRIE, Minn.--(Business Wire)--
Representatives from the Metropolitan Airports Commission (MAC),
the Eden Prairie Chamber of Commerce and Eden Prairie's Flying Could
Airport Advisory Commission broke ground today on long-awaited
enhancements to Flying Cloud Airport.

The $27 million expansion program includes runway extensions, new
taxiways, additional hangar facilities, and sewer and water
improvements. The project will allow more efficient use of the
airport, enhance safety and increase aircraft storage capacity.

"This day has been nearly two decades in the making," said MAC
Chairman Jack Lanners, noting the extensive public study, planning and
funding process that preceded construction. "By investing in the
future of Flying Cloud Airport, we are investing in the future
economic vitality of Minnesota."

Presently, the longest runway at Flying Cloud is only 3,909',
which is too short for many aircraft currently using the airport -- as
well as quieter, newer-generation light and medium sized business jets
-- to take off fully loaded. As a result, many businesses can't carry
as many people, bags or cargo as their aircraft were designed to
accommodate or can't fully fuel the plane before takeoff, limiting the
distance they can fly without refueling.

Through the airport improvement project, Runway 10L/28R will be
extended to 3,900' from 3,599' and Runway 10R/28L to 5,000' from
3,909'. Runway 10R/28L also will be widened to 100' from the current
75'. The taxiway system will be extended and navigational aids
relocated to accommodate the longer runways. Development of a new
south building area for hangars could begin as early as 2009 if demand
warrants.

Funding for the project includes an estimated $8,650,000 in
federal aviation grants for runway improvements. The estimated $10
million cost for the new building area development will be funded by
airport users. The MAC, which owns and operates Flying Cloud Airport,
will fund most of the remaining $8.4 million project cost.

Pat MulQueeny, president of the Eden Prairie Chamber of Commerce,
said, "The Eden Prairie Chamber has been a supporter of MAC's
modernization plan for Flying Cloud Airport, and we are pleased to see
that plan finally moving forward. We know that the runway extension
and new hangars will add additional economic activity to the business
community and help our businesses compete in today's marketplace."

A 2005 study by Wilder Research estimates Flying Cloud Airport
generates $80 million in annual economic activity and supports 775
area jobs. About 450 aircraft are based at the airport, which
accommodated 117,000 aircraft landings and takeoffs in 2007.

The MAC reached agreement with the city of Eden Prairie regarding
the airport expansion in 2002 and received final approval from the
Federal Aviation Administration this summer.

"As an Eden Prairie resident, I am pleased that the final piece of
the city of Eden Prairie and MAC agreement for modernization of the
airport is now underway," said Rick King, Flying Cloud Advisory
Commission Chairman. "Eden Prairie has derived great benefits from the
agreement, including several parks and ball fields used by many
residents. Overall, the project will bring new vitality and energy to
the airport and provide economic benefit to the area."

MAC Chairman Jack Lanners said the value of Flying Cloud Airport
reaches well beyond Eden Prairie. "Flying Cloud is a regional asset
with regional impacts. It contributes to the strength of companies and
economies in places like Chaska and Chanhassen, Waconia and Hopkins,
Edina and Shakopee, Victoria and Shorewood. The airport connects the
entire southwest metropolitan area to communities around the nation.
By investing in improvements, we will make Flying Cloud an even more
valuable regional asset in the years ahead."

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FLYING CLOUD EXPANSION TIMELINE

Activity Scheduled to Begin Completion Goal
----------------------------------- ------------------ ---------------
Land acquisition and planning complete
Sanitary sewer and water
installation summer 2008 fall 2008
Expansion of Runway 10L-28R summer 2008 fall 2008
Expansion of Runway 10R-28L summer 2009 spring 2010
Relocation of navigational aids summer 2009 spring 2010
South building area development summer 2009 winter 2010
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Metropolitan Airports Commission
Patrick Hogan, 612-726-5335

Copyright Business Wire 2008