Memphis Bioworks Foundation Saluted by Carnival Memphis

MEMPHIS, Tennessee, April 27, 2006 - The Memphis Bioworks Foundation has been selected as an honoree organization by Carnival Memphis for its prestigious annual Business and Industry Salute.

Since 1931, Carnival Memphis has promoted the commerce of the Mid-South. Each year the Business & Industry Salute Luncheon recognizes community leaders and businesses that help make Memphis a great place to live and work. In its 75th anniversary year, Carnival Memphis chose twelve companies from a variety of industries including, education, retail, logistics, entertainment and healthcare for its salute. These companies were selected based on their success and commitment to the Mid-South community.

The companies, according to Ed Galfsky, executive director of Carnival Memphis, represent excellence in Memphis commerce, industry and community involvement of the past, present and future.

"Memphis Bioworks Foundation is one of our best examples of industry that will define business in Memphis well into the future," said Galfsky. "Years from now we will likely look at bioscience as a dominate industry in our city, and the work of the Memphis Bioworks Foundation will play the leadership role in making that happen."

Additional companies and organizations recognized by Carnival Memphis in 2006 are: AutoZone, Dunavant Enterprises, Federal Express, Memphis Grizzlies, Orgill Brothers, St. Jude, Stephens, Inc., Kemmons Wilson Companies, Inc., University of Memphis, Longleaf Partners/Southeastern Asset Management, and Ewing Moving and Storage.

The Memphis Bioworks Foundation, a not-for-profit organization, was formed in early 2001 to establish the Memphis region as an internationally recognized center for biomedical technology through education, research, job training, and commercialization. Baptist Memorial Health Care donated its property in the Medical Center to the Foundation for the site of the UT-Baptist Research Park, which serves as the focal point of the city's biomedical economic development.

Carnival Memphis is a non-profit organization founded in 1931 to support, enhance, and promote the commerce and culture of Memphis and the Mid-South through an annual salute of Business and Industry; to provide a forum for social interaction that fosters understanding, enjoyment, and involvement of the area's diverse population; and to raise funds for charities that benefit local children.