- 2 -



       Members of the news media were also in attendance. A quorum
being present, the Chairman declared the meeting officially open for
the conduct of business at 1:06 p.m.

       C.    Minutes Approved

       Mr. Ockerman stated that the Minutes of the June 18, 1991 Board
of Trustees meeting had been distributed and asked for corrections or
additions. The Minutes were approved as distributed.

       D.    President's Report to the Trustees (PR 1)

       President Wethington reviewed the following items in his report:

   1. Twenty-four new faculty members at the University toured their
       "new Kentucky home" August 12-16 as part of a program initiated
       by Chancellor Robert Hemenway.

   2. A year-long study of the economic impact of Kentucky's horse
       industry was released in July. The study showed that
       Kentucky's horse industry generated jobs from 79,820 people
       with related wages and salaries of $1.3 billion a year. The
       study was conducted for the Greater Lexington Chamber of
       Commerce by the University's College of Business and Economics
       and the College of Agriculture.

   3. Business-Industry Technical Assistance Centers will be
       developed at Elizabethtown and Madisonville community
       colleges. The purpose of the centers is to help create jobs by
       providing assistance to new and existing businesses and by
       helping individuals through skill development, entrepreneurial
       training and counseling.

   4. The popular Saturday Seminars series, held before UK's home
       football games, will be offered again this year.

   5. Myra Leigh Tobin, a 1962 UK graduate who is managing director
       of an insurance underwriting firm in New York City, has been
       elected president of the University of Kentucky's National
       Alumni Association.

   6. Citizens Fidelity Bank and Trust Company of Lexington has
       donated $100,000 to the UK College of Business and Economics
       "Program for Excellence" scholarship fund.

       President Wethington asked that the members review the other
significant items in the report at their leisure.

       E.    Personnel Actions (PR 2)

       With President Wethington so recommending, on motion made by
Professor Rhoads, seconded by Mr. Rose and passed, the routine
personnel actions in PR 2 were approved. (See PR 2 at the end of the
Minutes.)