Lambuth University Takes Steps to Secure Future

Jackson, Tennessee, May 21, 2010:

The Lambuth University Board of Trustees met today and reviewed a Letter of Intent submitted by an investment firm for the acquisition of the school.

President Bill Seymour told the Board that this was the best proposal Lambuth has received throughout its year-long process of searching for a suitable partner.

The Board gave approval for the sale of university assets to the company pending a few final details that needed clarification or negotiation. Dr. Seymour said that he felt confident that these details could be satisfied in the next couple days enabling the school to meet its May 28 deadline to submit revised documents to SACS. Once those materials are submitted then SACS will make
the final determination about a change in ownership during their June 21-23 meeting.

Once the Letter of Intent is finalized and signed, the University will release the name of the company and their principal officers. Dr. Seymour praised the work of his administrative team as well as the entire faculty and staff. He also expressed appreciation for the Board of Trustee members for their faith and support.

Lambuth University is affiliated with the United Methodist church and was founded in 1843. In the ensuing years, Lambuth has earned a reputation as one of the South's premier liberal arts universities and has received national recognition as one of the nation's Top 250 Liberal Arts Colleges by U.S. News & World Report and as one of the nation's "Top 100 Outstanding
Colleges" by The Washington Post.
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