July 17, 2006

FKEC WELCOMES BEATY AT CFO

Florida Keys Electric Cooperative welcomes Cris Beaty as its new Chief Financial Officer, a position formerly held by now-CEO Scott Newberry. Beaty was most recently the Director of Finance at the Key Largo Sheraton Beach Resort for 19 years.

As FKEC CFO, Beaty's duties include supervising the Consumer Accounting, Information Systems, Payroll, and Member Service departments and the company’s Planning Rate and Budget Analyst. The CFO is also responsible for enhancing organizational growth and development in accordance with the Cooperative's mission, vision and values.

"I've known Cris through the local business community for many years, and I feel he has the experience, background and skills for the job," Newberry said. "We are looking forward to working with him."

Beaty joins FKEC with over 25 years of experience in financing. He held his first Financial Auditors job when he was only 16 years old and his first Financial Controller position at 19. After graduating with his Bachelors Degree in Business Administration from Parks Business College in Denver, he worked as the Financial Controller for the Knoxville Hilton in Tennessee. He also served as Controller for the Sheraton Military Circle in Virginia.

In 1987, Beaty moved to the Keys to join the Key Largo Sheraton Beach Resort as Director of Finance. During his tenure he also acted as Assistant General Manager and General Manager, and worked as Regional Controller for two hotels in Atlanta.

"I look forward to both meeting the new challenges and enjoying the stability the co-op has to offer," Beaty said. "I'm excited to be here."

Beaty currently serves on the Board of Directors for the Key Largo Chamber of Commerce and on the Board of Directors for the Rotary Club of Key Largo. He was also one of the original elected commissioners of the Key Largo Wastewater board from 2002-2004.

Beaty is also a baseball coach for the Upper Keys Athletic Association. He lives in Key Largo with his wife and has two children.