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Access National Director Babbitt Nominated to Be Head of Federal Aviation Administration

Dépèche transmise le 30 mars 2009 par Business Wire

Access National Director Babbitt Nominated to Be Head of Federal Aviation Administration

Access National Director Babbitt Nominated to Be Head of Federal Aviation Administration

RESTON, Va.--(BUSINESS WIRE)--On March 27, 2009,President Barack Obama announced his intent to nominate J. Randolph “Randy” Babbitt, a Director of Access National Corporation (NASDAQ:ANCX) (“Access”), holding company for Access National Bank, to be Administrator of the U.S. Federal Aviation Administration (“FAA”). The FAA regulates and oversees all aspects of civil aviation, including air traffic control, safety and noise. The administrator is the chief executive of this organization of roughly 46,000 full-time-equivalent employees.

Internationally recognized as a leader in the field of aviation and labor relations, Mr. Babbitt has roughly 40 years of experience in the field. He holds a number of FAA ratings including single and multi-engine land aircraft, as well as Air Transport Pilot.

Mr. Babbitt began his aviation career as a pilot for Eastern Airlines and flew for more than 25 years. As CEO of the Airline Pilots Association, Babbitt helped to direct and achieve important improvements in aviation safety and to influence policy in other critical areas of the industry and its operation. Babbitt left the Airline Pilots Association to found Eclat Consulting in Reston, Virginia, which provided economic support for regulatory, legislative, and business issues in aviation. The partners and staff of Eclat joined Oliver Wyman’s (part of Marsh & McLennan, NYSE:MMC) global Aviation, Aerospace & Defense practice in September 2007.

Mr. Babbitt has served on the Board of Directors at Access National Corporation and Access National Bank since his role as an organizing investor of the Bank in 1999. Access CEO Michael Clarke said, “Randy’s experience in the highly regulated aviation industry has made him an exceptional fiduciary for our shareholders during both prosperous and troubled economic times. I have no doubt he will be a first class advocate for the public and industry in his role with the FAA. We are extremely proud to be associated with such an accomplished and well respected professional.”

Access National Corporation serves as the holding company for Access National Bank, a business bank located in Reston VA with approximately $700 million in assets.

This press release contains “forward-looking statements” within the meaning of the federal securities laws. These statements may be identified as “may”, “could”, “expect”, “believe”, anticipate”, “intend”, “plan” or variations thereof. These forward-looking statements may contain information related to those matters such as the Company’s intent, belief, or expectation with respect to matters such as financial performance. Such statements are necessarily based on assumptions and estimates and are inherently subject to a variety of risks and uncertainties concerning the Company’s operations and business environment, which are difficult to predict and beyond control of the company. Such risks and uncertainties could cause the actual results of the Company to differ materially from those matters expressed or implied in such forward-looking statements. For an explanation of certain risks and uncertainties associated with forward-looking statements, please refer to then Company’s Annual Report on Form 10-K and other SEC filings.

Business Wire

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