ADVISORY/Gov. Gray Davis to Speak At Milken Institute `State of State Conference'; Impact of Sept. 11 On California Economy to be Underlying Topic of Event.

Business Editors & News Editors

ADVISORY...for Tuesday (Nov. 6)

--(BUSINESS WIRE)

WHAT: Milken Institute 2001 California State of the State Conference
WHEN: Tuesday, Nov. 6, 2001, 8 a.m. - 6:15 p.m.
WHERE: Fairmont Miramar Hotel, 101 Wilshire Blvd., Santa Monica,
       Calif.
WHO: Speakers include:
--   Gray Davis, Governor of California (special presentation)
--   Philip Angelides, California State Treasurer (keynote speaker)
--   Jerry Brown, Mayor, City of Oakland
--   Willie Brown, Mayor, City of San Francisco
--   Stephen E. Frank, Chairman, President and CEO, Southern
     California Edison
--   Richard J. Hayes, Senior Investment Officer, CalPERS.
--   Loretta Lynch, President, California Public Utilities
     Commission
--   Mike Medavoy, Chairman and CEO, Phoenix Pictures
--   Alex Padilla, President, Los Angeles City Council
--   Jeff Skilling, former CEO, Enron Corporation
SESSIONS COVER:
--   The cause, possible solutions and economic impact of the state's
     ongoing electricity dilemma
--   How the state can maintain its competitive edge in the
     entertainment industry
--   The future of high-speed, Internet technology
--   The opportunities and challenges posed by California's growing
     diversity
--   How to finance needed infrastructure, new companies, housing and
     other backbones of the state's economy
--   A special Q&A with Institute scholars and the audience moderated
     by Chairman Michael Milken.

In addition, the impact of the events of September 11 on California's economy will be a major underlying topic of the conference. And the Institute will release its annual New Economy Index.

INFORMATION: Registration for all sessions, lunch and a briefing book is only $495. For complete information about the program, speakers and registration, visit the Institute's Web site at www.milkeninstitute.org, or contact the Events Department at 310/998-2605.

Note to media: Accredited media wishing to attend the State of the State Conference (at no charge) must register for the event. Please contact Skip Rimer, Director of Communications, at 310/998-2654, or by e-mail at [e-mail].