About 18:00 EST, a Piper Aerostar was substantially damaged when it lost power and crashed while on approach to the Lynchburg Regional/Preston Glenn Field Airport. The pilot was seriously injured. The airplane had just received an annual inspection and the pilot was returning from ferrying a maintenance pilot home. The airplane was on approach to runway 21 when the pilot radioed to the Lynchburg Air Traffic Control Tower that one of the airplanes engines had lost power. About 4 minutes later, the pilot reported that the airplanes second engine had lost power and declared an emergency. The airplane crashed about 4 miles northeast of LYH. Approximately 1.5 gallons of fuel was drained from the airplanes fuselage fuel tank. The wreckage was moved to a hanger to be examined further at a later date. A check of refueling records revealed the airplane was topped off with 75 gallons of 100LL before the flight to the maintenance facility. The airplanes total usable fuel capacity was 165.5 gallons.