ALASKA TRENDS.

                               ALASKA TRENDS
                                                                  Latest
                                                                  Report
                                               Units      Period  Period
GENERAL
Personal Income -- Alaska                  Millions of $ 2nd Q99 16,200.00
Personal Income -- United States    Billions of $ (SAAR) 2nd Q99  7,492.84
Consumer Prices -- Anchorage             1982-1984 = 100    1H99    148.6
Consumer Prices -- United States         1982-1984 = 100    1H99    165.4
Bankruptcies
  Alaska Total                              Number Filed     Oct    145
  Alaska Business Only                      Number Filed     Oct     15
  Anchorage Total                           Number Filed     Oct    119
  Anchorage Business Only                   Number Filed     Oct     14
  Fairbanks Total                           Number Filed     Oct     26
  Fairbanks Business Only                   Number Filed     Oct      1
EMPLOYMENT
Alaska                                         Thousands     Nov    296.26
Anchorage                                      Thousands     Nov    138.37
Fairbanks                                      Thousands     Nov     40.54
Southeast                                      Thousands     Nov     35.96
Gulf Coast                                     Thousands     Nov     28.19
Sectoral Distribution -- Alaska
Total Nonagricultural-Wage & Salary            Thousands     Nov    271.7
Goods-producing                                Thousands     Nov     32.3
  Mining                                       Thousands     Nov      8.8
  Oil & Gas Extraction                         Thousands     Nov      7.4
  Construction                                 Thousands     Nov     13.4
  Manutacturing                                Thousands     Nov     10.1
    Durable Goods                              Thousands     Nov      2.7
      Lumber & Wood Products                   Thousands     Nov      1.6
    Nondurable Goods                           Thousands     Nov      7.4
      Seafood Processing                       Thousands     Nov      4.7
Service-producing                              Thousands     Nov    239.4
  Transportation                               Thousands     Nov     25.9
    Trucking & Warehousing                     Thousands     Nov      2.9
    Water Transportation                       Thousands     Nov      1.7
    Air Transportation                         Thousands     Nov      9.1
    Communications                             Thousands     Nov      5.2
    Electric, Gas & Sanitary                   Thousands     Nov      2.7
  Trade                                        Thousands     Nov     57.4
    Wholesale                                  Thousands     Nov      8.9
    Retail                                     Thousands     Nov     48.5
      General Merchandise                      Thousands     Nov     10.5
      Food Stores                              Thousands     Nov      7.0
      Eating & Drinking                        Thousands     Nov     15.9
  Finance, Insurance & Real Estate             Thousands     Nov     12.7
  Services & Misc.                             Thousands     Nov     68.9
    Hotels & Lodging                           Thousands     Nov      5.8
    Business Services                          Thousands     Nov      8.9
    Health Services                            Thousands     Nov     15.7
    Legal Services                             Thousands     Nov      1.6
    Social Services                            Thousands     Nov      7.9
    Engineering & Mngmt. Services              Thousands     Nov      8.0
  Government                                   Thousands     Nov     74.5
    Federal                                    Thousands     Nov     16.5
    State                                      Thousands     Nov     22.1
    Local                                      Thousands     Nov     35.9
  Labor Force
    Alaska                                     Thousands     Nov    314.46
    Anchorage                                  Thousands     Nov    144.25
    Fairbanks                                  Thousands     Nov     42.77
    Southeast                                  Thousands     Nov     38.08
    Gulf Coast                                 Thousands     Nov     31.70
                                    Previous
                                     Report
                                     Period   Year Ago   Year Over
                                    (revised)  Period   Year Change
GENERAL
Personal Income -- Alaska           16,172.00 15,698.00    3.20%
Personal Income -- United States     7,400.24  7,070.63    5.97%
Consumer Prices -- Anchorage           147.0     146.7     1.30%
Consumer Prices -- United States       163.7     162.3     1.91%
Bankruptcies
  Alaska Total                          91       177     -18.08%
  Alaska Business Only                  14        21     -28.57%
  Anchorage Total                       59       132      -9.85%
  Anchorage Business Only               12        11      27.27%
  Fairbanks Total                       32        19      36.84%
  Fairbanks Business Only                2         2     -50.00%
EMPLOYMENT
Alaska                                 299.49    298.70   -0.82%
Anchorage                              137.18    138.68   -0.22%
Fairbanks                               40.18     41.07   -1.29%
Southeast                               37.14     36.29   -0.91%
Gulf Coast                              30.12     29.02   -2.86%
Sectoral Distribution -- Alaska
Total Nonagricultural-Wage & Salary    279.40    267.7     1.49%
Goods-producing                         37.60     34.2    -5.56%
  Mining                                 9.2      10.5   -16.19%
  Oil & Gas Extraction                   7.7       8.9   -16.85%
  Construction                          15.3      12.9     3.88%
  Manutacturing                         13.1      10.8    -6.48%
    Durable Goods                        2.9       2.7     0.00%
      Lumber & Wood Products             1.8       1.7    -5.88%
    Nondurable Goods                    10.2       8.1    -8.64%
      Seafood Processing                 7.5       5.5   -14.55%
Service-producing                      241.8     233.5     2.53%
  Transportation                        26.9      24.0     7.92%
    Trucking & Warehousing               3.0       2.8     3.57%
    Water Transportation                 2.0       1.7     0.00%
    Air Transportation                   9.3       8.6     5.81%
    Communications                       5.3       4.4    18.18%
    Electric, Gas & Sanitary             2.6       2.4    12.50%
  Trade                                 57.5      56.1     2.32%
    Wholesale                            9.0       8.7     2.30%
    Retail                              48.5      47.4     2.32%
      General Merchandise               10.0      10.3     1.94%
      Food Stores                        7.0       7.0     0.00%
      Eating & Drinking                 16.2      15.2     4.61%
  Finance, Insurance & Real Estate      12.7      12.3     3.25%
  Services & Misc.                      70.2      66.4     3.77%
    Hotels & Lodging                     6.7       5.7     1.75%
    Business Services                    8.9       8.7     2.30%
    Health Services                     15.5      15.2     3.29%
    Legal Services                       1.6       1.7    -5.88%
    Social Services                      7.9       7.3     8.22%
    Engineering & Mngmt. Services        8.2       7.6     5.26%
  Government                            74.5      74.7    -0.27%
    Federal                             16.7      16.7    -1.20%
    State                               22.0      22.0     0.45%
    Local                               35.8      36.0   -38.61%
  Labor Force
    Alaska                             316.72    315.61   -0.36%
    Anchorage                          142.96    143.90    0.24%
    Fairbanks                           42.98     43.44   -1.54%
    Southeast                           39.22     38.49   -1.07%
    Gulf Coast                          33.03     32.17   -1.46%
Unemployment Rate
  Alaska                                               Percent        Nov
  Anchorage                                            Percent        Nov
  Fairbanks                                            Percent        Nov
  Southeast                                            Percent        Nov
  Gulf Coast                                           Percent        Nov
  United States                                        Percent        Nov
PETROLEUM/MINING
Crude Oil Production -- Alaska             Millions of Barrels        Oct
Natural Gas Field Production -- Alaska   Billions of Cubic Ft.        Oct
North Slope Spot Price (Gulf)                     $ per Barrel 12/30/1999
Hughes Rig Count
  Alaska                                           Active Rigs        Dec
  United States                                    Active Rigs        Dec
 Gold Prices                                    $ Per Troy Oz. 12/30/1999
 Silver Prices                                  $ Per Troy Oz. 12/30/1999
 Zinc Prices                                         Per Pound 12/30/1999
REAL ESTATE
Anchorage Building Permit Valuations
  Total                                          Millions of $        Nov
  Residential                                    Millions of $        Nov
  Commercial                                     Millions of $        Nov
Deeds of Trust Recorded
  Anchorage--Recording District                    Total Deeds        Oct
  Fairbanks--                                      Total Deeds        Oct
  Palmer--Recording District                       Total Deeds        Aug
  Juneau-Recording District                        Total Deeds        Aug
AHFC Delinquent Loan Rate                              Percent        Oct
VISITOR INDUSTRY
Total Air Passenger Traffic -- Anchorage             Thousands        Nov
Total Air Passenger Traffic -- Fairbanks             Thousands        Nov
ALASKA PERMANENT FUND
Equity                                           Millions of $        Nov
Assets                                           Millions of $        Nov
Net Income                                       Millions of $        Nov
Net Income -- Year to Date                       Millions of $        Nov
Marketable Debt Securities                       Millions of $        Nov
Real Estate Investments                          Millions of $        Nov
Preferred and Common Stock                       Millions of $        Nov
TRANSPORTATION
Total Port Activity -- Anchorage             Thousands of Tons        Nov
  General Cargo                              Thousands of Tons        Nov
  Petroleum                                  Thousands of Tons        Nov
Rail Frieght -- Alaska Railroad              Thousands of Tons        Nov
BANKING (excludes interstate branches)
Total Bank Assets -- Alaska                      Millions of $       3Q99
  Cash & Balances Due                            Millions of $       3Q99
  Securities                                     Millions of $       3Q99
  Net Loans and Leases                           Millions of $       3Q99
  Other Real Estate Owned                        Millions of $       3Q99
Total Liabilities                                Millions of $       3Q99
  Total Bank Deposits -- Alaska                  Millions of $       3Q99
  Noninterest-bearing deposits                   Millions of $       3Q99
  Interest-bearing deposits                      Millions of $       3Q99
FOREIGN TRADE
Value of the Dollar
  In Japanese Yen                                          Yen 12/30/1999
  In Canadian Dollars                               Canadian $ 12/30/1999
  In German Marks                                        Marks 12/30/1999
Unemployment Rate
  Alaska                                      5.8      5.4        5.4
  Anchorage                                   4.1      4.0        3.6
  Fairbanks                                   5.2      5.1        5.5
  Southeast                                   5.6      5.3        5.7
  Gulf Coast                                 11.1      8.8        9.8
  United States                               4.1      4.1        4.4
PETROLEUM/MINING
Crude Oil Production -- Alaska               33.11    28.00      37.10
Natural Gas Field Production -- Alaska       14.90    11.33      15.68
North Slope Spot Price (Gulf)                24.08    24.88      10.45
Hughes Rig Count
  Alaska                                      5        4         13
  United States                             815      782        634
 Gold Prices                                290.25   292.25     292.75
 Silver Prices                                5.40     5.25       4.970
 Zinc Prices                                  0.61     0.57       0.479
REAL ESTATE
Anchorage Building Permit Valuations
  Total                                       7.85    22.21      14.99
  Residential                                 6.06    12.25      11.34
  Commercial                                  1.80     9.96       3.65
Deeds of Trust Recorded
  Anchorage--Recording District             864      881       1734
  Fairbanks--                               241      272        387
  Palmer--Recording District                302      309        339
  Juneau-Recording District                  99      123        167
AHFC Delinquent Loan Rate                     2.62     4.18       2.61
VISITOR INDUSTRY
Total Air Passenger Traffic -- Anchorage    321.07   353.58     321.96
Total Air Passenger Traffic -- Fairbanks     57.39    61.47      56.02
ALASKA PERMANENT FUND
Equity                                   25,763.5  25111.6   24,473.1
Assets                                   26,057.9  25492.5   24,639.6
Net Income                                  143.2     85.8      159.8
Net Income -- Year to Date                2,545.2   2545.2    2,705.0
Marketable Debt Securities                9,607.4   9450.7   10,768.0
Real Estate Investments                   2,158.5   2137.8    1,675.3
Preferred and Common Stock               13,408.7  12914.6   10,999.4
TRANSPORTATION
Total Port Activity -- Anchorage            206.46    252.25    205.60
  General Cargo                             128.32    141.01    134.84
  Petroleum                                 178.14    111.23     70.76
Rail Frieght -- Alaska Railroad             291.45    678.70    242.48
BANKING (excludes interstate branches)
Total Bank Assets -- Alaska               5,733.80  5,611.59  4,628.81
  Cash & Balances Due                       331.06    329.87    297.07
  Securities                                822.69    816.44    833.70
  Net Loans and Leases                    3,089.31  2,973.00  2,742.66
  Other Real Estate Owned                     3.71      4.02      5.33
Total Liabilities                         4,962.90  4,855.29  4,592.74
  Total Bank Deposits -- Alaska           4,130.30  4,101.18  3,806.18
  Noninterest-bearing deposits            1,181.39  1,189.76  1,100.27
  Interest-bearing deposits               2,948.91  2,911.42  2,705.91
FOREIGN TRADE
Value of the Dollar
  In Japanese Yen                           102.42    102.39    116.17
  In Canadian Dollars                         0.69      1.47      1.53
  In German Marks                             1.94      1.94      1.67
Unemployment Rate
  Alaska                                   7.41%
  Anchorage                               13.89%
  Fairbanks                               -5.45%
  Southeast                               -1.75%
  Gulf Coast                              13.27%
  United States                           -6.82%
PETROLEUM/MINING
Crude Oil Production -- Alaska           -10.75%
Natural Gas Field Production -- Alaska    -4.97%
North Slope Spot Price (Gulf)            138.09%
Hughes Rig Count
  Alaska                                 -61.54%
  United States                           28.55%
 Gold Prices                              -0.17%
 Silver Prices                             5.63%
 Zinc Prices                              19.00%
REAL ESTATE
Anchorage Building Permit Valuations
  Total                                  -47.63%
  Residential                            -46.56%
  Commercial                             -50.68%
Deeds of Trust Recorded
  Anchorage--Recording District          -50.17%
  Fairbanks--                            -37.73%
  Palmer--Recording District             -10.91%
  Juneau-Recording District              -40.72%
AHFC Delinquent Loan Rate                  0.38%
VISITOR INDUSTRY
Total Air Passenger Traffic -- Anchorage  -0.28%
Total Air Passenger Traffic -- Fairbanks   2.45%
ALASKA PERMANENT FUND
Equity                                     5.27%
Assets                                     5.76%
Net Income                               -10.39%
Net Income -- Year to Date                -5.91%
Marketable Debt Securities               -10.78%
Real Estate Investments                   28.84%
Preferred and Common Stock                21.90%
TRANSPORTATION
Total Port Activity -- Anchorage           0.42%
  General Cargo                           -4.83%
  Petroleum                              151.75%
Rail Frieght -- Alaska Railroad           20.20%
BANKING (excludes interstate branches)
Total Bank Assets -- Alaska               23.87%
  Cash & Balances Due                     11.44%
  Securities                              -1.32%
  Net Loans and Leases                    12.64%
  Other Real Estate Owned                -30.39%
Total Liabilities                          8.06%
  Total Bank Deposits -- Alaska            8.52%
  Noninterest-bearing deposits             7.37%
  Interest-bearing deposits                8.98%
FOREIGN TRADE
Value of the Dollar
  In Japanese Yen                        -11.86%
  In Canadian Dollars                     -4.20%
  In German Marks                         16.48%