FOR IMMEDIATE RELEASE

Comptroller Franchot Promotes Maryland Life Sciences at International Convention

BOSTON (May 8, 2007) - Demonstrating his commitment to promoting and growing the state's life sciences industry, Comptroller Peter Franchot today led the Maryland delegation at the 2007 BIO International Convention being held in Boston, Mass. The BIO conference annually attracts over 18,000 attendees representing the world's leading life science and biotech companies, international venture capitalists, worldwide financial firms and economic development officials from across the globe.

"It is essential that Maryland be very aggressive and proactive in marketing itself as one of the world's most desirable locations for any life science or biotech company," said Comptroller Franchot. "With the unparalleled mix of federal labs, world-class research institutes and our highly skilled and educated workforce, there is no question Maryland is among, if not the national leader for life sciences. The challenge is bringing all the resources together to ensure that we are branded as the national leader and have the long-term strategies in place to keep us at the forefront of this growing industry."

While at BIO, the Comptroller will be participating in individual meetings with companies looking to expand or ope new facilities in Maryland. He will work with the Department of Business and Economic Development to promote the state at these meetings. The Comptroller will also lead a Maryland team in visits with delegations from potential international partners, such as Australia, New Zealand and Japan. He will also tour the Maryland pavilion and meet with CEO's from Maryland companies to explore what statewide initiatives could be launched to further help the life sciences industry grow in the state. To further the growth of Maryland's economy, the Comptroller will convene a statewide life sciences summit this October and bring together representatives from a broad cross-section of Maryland industries from all over the state.

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CONTACT:

Joe Shapiro, 410-260-7305