Construction costs increased during 4Q.

The Turner Corporation announced that construction costs in the fourth quarter of 2001 are projected to increase .33% from the third quarter of 2001. According to the Turner Building Cost Index, the fourth quarter 2001 index will increase to 616, two points above the third quarter 2001 figure and 1.82% above the fourth quarter 2001. According to Karl F. Almstead, the Turner vice president responsible for the Building Cost Index, "In response to the slowing economy, costs in some regional markets are just about equal to those from the third quarter. The major metropolitan markets do not seem to be as impacted by recent economic forecasts."