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          presentation on their new and innovative work.
      The Board talked about the new strategic initiatives concerning the MBA
          Program and the Slone Center. The importance of the Slone Center to the
          college and to the state was also discussed.
      Kentucky is the fifth largest producer of aluminum in the world, and UK has a
          working relationship with this center.
      Ken Robertson, Chairman of the Foundation Board, presented some possible
          changes about how often the Board should meet and whether to have
          committees or not. It was determined that the Board would continue to have
          two meetings a year, once in the fall and once in the spring.
      The Board added a couple of committees: a Development Committee, chaired by
          Tim Haymaker of the Haymaker Company, and an Image Committee, chaired
          by Rodney McMullen of the Kroger Company.
      There was a presentation by two students concerning their entrepreneurial
          business called Vision Resumes, a career management network. They expect
          to be making $6 million in about six years.
      Two new proposals were presented for the School of Management: a certificate
          in mortgage banking presented on the Internet and a qualitative financial
          analysis minor in the Gatton College.
      Associate Dean Paul Jarley announced a new internship program called Execute,
          where some corporate executives will be working with some of the students
          on some projects that were important for the company.
      Humana made a presentation about consumerism.

      Ms. Wilson concluded her report by stating that the Board of Trustees can be
proud of the partnerships that the college has formed with people in the community and
with other colleges at the university.

      President Todd commented about Vision Resume. He said the business is headed
by John Williams, who was past president of the E Club. It is a company they founded,
and the present president of the E Club is co-founder. Humana has invited these two
young men to give a presentation on Vision Resume for possible use at Humana.

      0.    University Hospital Board

      Ms. Young, Chair of the University Hospital Board, reported that the Board
reviewed the conservative budget for the hospital for 2006. She said there is a lot
happening in the hospital, and she is comfortable with the work that Dr. Karpf and his
staff are doing to meet the goals. Things are going extremely well at the hospital. The
numbers continue to go up and will support the construction projects that are scheduled to
begin. A resolution was passed to establish the University Hospital Committee which
will be a standing committee of the Board of Trustees.

      Mr. Hardymon mentioned that there had been a reference about budgets in a
couple of the reports. He said that the budget will be on the June agenda. The hospital
and athletics budgets will be parts of that material.