Minutes of the Meeting of the Board of Trustees of the University of Kentucky,
Tuesday, May 10, 2005.

      The Board of Trustees of the University of Kentucky met at 1:00 p.m. (Lexington
time) on Tuesday, May 10, 2005, in the Board Room on the 1 8th Floor of Patterson Office
Tower.

      A.    Meeting Opened

      Mr. James Hardymon, Chair, called the meeting to order at 1:00 p.m. and asked
the secretary of the Board, Ms. Elaine Wilson, to call the roll.

      B.    Roll Call

      The following members of the Board of Trustees answered the call of the roll:
Mira Ball, Steve Branscum, Marianne Smith Edge, Ann Haney, James Hardymon
(Chair), Michael Kennedy, Pamela May, Billy Joe Miles, Roy Moore, Phillip Patton,
Steven Reed, Frank Shoop, Alice Sparks, Myra Leigh Tobin, Rachel Watts, JoEtta
Wickliffe, Billy Wilcoxson, Russ Williams, Elaine Wilson, and Barbara Young. The
university administration was represented by President Lee T. Todd, Jr., Provost Michael
Nietzel, Executive Vice President for Finance and Administration Frank Butler,
Executive Vice President for Health Affairs Michael Karpf, Executive Vice President for
Research Wendy Baldwin, and General Counsel Barbara W. Jones.

        Members of the various news media were also in attendance. A quorum being
present, the Chair declared the meeting officially open for the conduct of business at 1:03
p.m.

      C.    Consent Items

      Mr. Hardymon said the Minutes, PR 2, and FCR 1 through 20, which were
covered in the Finance Committee, were consent items on the agenda. He asked if there
were any questions or comments about the consent items. Ms. Smith Edge moved
approval. Her motion, seconded by Mr. Reed, carried without dissent. The consent items
follow:

      Minutes - March 29, 2005
      PR 2   Personnel Actions
      FCR 1 William A. Bauman Gift and Pledge
      FCR 2 Ithaca Materials Research Laboratory Gift-in-Kind
      FCR 3 Anonymous Gift to the Adair County Scholarship Fund
      FCR 4 Gifts and Pledges to the E. Preston Hicks Chair for Orthodontics and
                Oral Health Research
      FCR 5 Anonymous Gift to the Pediatric Exercise Physiology Laboratory
      FCR 6 Liz Claiborne Foundation Gift and Pledge