Montgomery Receives Validation of Economic Recovery from Report

February 17, 2010

A report released by Governor Riley’s office has Montgomery, Alabama ranked 29th of the 387 metro
areas across the United States showing strong progress towards recovering from the nationwide
recession.

The report, complied for Moody’s by Precis Metro, offers comprehensive research on the current and
expected conditions of the nation’s metropolitan areas. Montgomery ranked high in the “Employment
Growth Rank,” which measures the strength of a community’s over all economy.

We are delighted to be given validation of what we have observed the past few months,” said Mayor
Strange. “The sales tax revenues are trending and homes sales in the City have picked up, which is an
early indication that we are headed in a positive direction.”

“The light at the end of the tunnel is not the train coming toward us,” added Mayor Strange.

Governor Riley has seen the evidence that Alabama’s economy is improving. Montgomery was one of
five cities cited in the report, which he believes makes Alabama ripe for economic development.

The report that ranked Montgomery near the top nationally, covers a single metro area in detail and includes a five-year written and graphical analysis, and statistical tables covering top employers, industry diversity, migration flows, leading industries, house prices and income and earnings trends.

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