ADVISORY/Home Building Crucial to LA's Economic Future; Mayor Jim Hahn and Los Angeles Business Council Host 2nd Annual Housing Summit to Incentivize Homeownership in Los Angeles.

Business Editors/Assignment Desks

ADVISORY...for Tuesday (July 8)

--(BUSINESS WIRE)

What: Los Angeles Mayor Jim Hahn and the Los Angeles Business Council
      will join state and city officials, housing experts and business
      leaders to discuss how business and government can work together
      to maximize homeownership opportunities and increase the housing
      supply in Los Angeles.

Who: Jim Hahn, Mayor, City of Los Angeles
     Wendy Greuel, City Councilmember, City of Los Angeles
     Maria Contreras-Sweet, Secretary, California Business,
      Transportation and Housing Agency
     Mary Leslie, President, Los Angeles Business Council
     John Wasley, Chairman, Los Angeles Business Council
     G. Allan Kingston, President & CEO, Century Housing
     Albert Carnesdale, Chancellor, UCLA
     Richard Ziman, Chairman & CEO, Arden Realty, Inc.
     Bruce Karatz, Chairman and CEO, KB Home
     Conrad Egan, President & CEO, National Housing Conference
     Michael Lappin, President & CEO, Community Preservation
      Corporation
     Steve Soboroff, President & CEO, Playa Vista Partners
     Matthew Franklin, Director, California Department of Housing
      and Community Development
     Ken Lombard, President, Johnson Development Corporation
     Bud Ovrom, General Manager, Community Redevelopment Agency

When: Tuesday, July 8, 2003
      8:00 a.m. to Noon - program sessions
      12:15 p.m. - Mayor Hahn remarks

Where: The Anderson School at UCLA
       Korn Convocation Hall
       110 Westwood Plaza, Los Angeles
       Note: Media trucks may park outside of Gold Hall (Building B).
       Proceed down Royce Drive past Parking Structure 5. Turn Right.
       Enter through large gates and park on cement area.

Background: Mayor Jim Hahn and the Los Angeles Business Council will
            bring together local and national housing experts, leading
            developers, business leaders and key stakeholders, who
            have revitalized cities through housing development, to
            take an in-depth look at homeownership from a national and
            local perspective, private developer success in producing
            moderately-priced housing in high-cost markets and tools
            to increase L.A.'s supply of for sale housing.