Econowatch L.A. County.

GENERAL INDICATORS

                                                             % - from
                                        Latest    Previous   previous
                                        period      period     period

Employment (000's) (March) (1)           4,582       4,551      +0.7%
Unemployment (000's) (March) (1)           271         296       -8.4
Help-wanted ads index (Jan.)                13          17      -23.5
Jobless-to-job ad ratio (Jan.) (2)       23.40        17.1       36.8
Film Production Days (March) (3)        3,340#      2,854#       +17#

Bankruptcies
Chapter 7 (March)                       3,603#      2,412#     +49.4#
Chapter 11 (March)                         11#         12#      -8.3#

Exports (mils.) (Jan.)                $5,330.7    $6,210.3      -14.2
Imports (mils.) (Jan.)               $14,225.6   $14,248.3       -0.2
Air cargo (5)
  LAX (March)                            194.5       159.3      +22.1
  Burbank (Feb.)                           3.8         3.7       +2.7
Container volume (8) (000's)
  Long Beach (March)                      466#      497.9#      -6.4#
  Los Angeles (March)                     525#      554.5#      -5.3#
Los Angeles CPI (March)                 199.2#      197.4#      +0.9#
Electricity Accounts (000's) (8)
  Residential (March)                  1,233.7     1,232.9       -0.1
  Commercial (March)                     121.4       120.9       +0.4
  Industrial (March)                        14        14.1          0

GENERAL                                   Year    %+ from
INDICATORS                                 ago   year ago

Employment (000's) (March) (1)           4,471      +2.5%
Unemployment (000's) (March) (1)           327      -17.1
Help-wanted ads index (Jan.)                13          0
Jobless-to-job ad ratio (Jan.) (2)        25.2       -7.1
Film Production Days (March) (3)        3,761#     -11.2#

Bankruptcies
Chapter 7 (March)                       3,433#        +5#
Chapter 11 (March)                         13#     -15.4#

Exports (mils.) (Jan.)                $4,777.4      -11.6
Imports (mils.) (Jan.)               $12,246.8      +16.2
Air cargo (5)
  LAX (March)                            185.5        4.9
  Burbank (Feb.)                             4         -5
Container volume (8) (000's)
  Long Beach (March)                    448.4#      +3.9#
  Los Angeles (March)                   611.6#     -14.2#
Los Angeles CPI (March)                 191.5#        +4#
Electricity Accounts (000's) (8)
  Residential (March)                  1,229.5       +0.3
  Commercial (March)                     120.5       +0.7
  Industrial (March)                      14.6       -4.1

REAL ESTATE

                                                              % -from
                                        Latest   Previous    previous
                                        period     period      period

Construction lending (mils.) (Jan.)       $497        $690       -28%
Property acquisition lending
  (mils.) (9) (Jan.)                  $4,279.4    $5,534.5      -22.7
Refinance lending (mils.) (Jan.)
  (10)                                $8,900.4   $11,545.4      -22.9

Foreclosures
  Number (Dec.)                             58          65      -10.8
  Value (mils.) (Dec.)                   $27.1       $19.6      +38.3
Building contracts (mils.)
  Residential (March)                   $275.9      $304.5       -9.4
  Nonresidential (March)                $155.5      $200.6      -22.5
Building permits (mils.)
  Residential (Dec.)                    $545.2      $614.1      -11.2
  Nonresidential (Dec.)                 $273.3      $235.2      +16.2
Housing start permits (Dec.)             2,999       2,979       +0.7
Home sales (Jan.)                        5,620       7,588      -25.9
Home prices (000's) (Jan.)                $435        $435          0
Condo sales (Jan.)                       1,600       1,962      -18.5
Condo prices (000's) (Jan.)             $335.5        $338       -0.7
Apartments (4th qtr.)
  Gross occupancy                        96.8%         97%         NA
  Avg. sq. ft. rent                      $1.55       $1.55          0
  Avg. monthly rent                     $1,300      $1,311       -0.8
Office vacancy rates (1st qtr.)
  Downtown L.A.                          17.8%       19.1%         NA
  San Fernando Valley                      7.9         8.8         NA
  West L.A.                               13.5        14.6         NA
  South Bay                               20.4        20.6         NA
  Countywide                                14        14.8         NA
Industrial vacancy rates (1st qtr.)
  Downtown/Central                        1.1%        1.2%         NA
  South Bay                                2.5         2.6         NA
  San Gabriel Valley                       1.5         1.2         NA

                                                 %+ from
                                          Year      year
                                           ago       ago

Construction lending (mils.) (Jan.)     $267.5     85.8%
Property acquisition lending
  (mils.) (9) (Jan.)                  $3,593.7       +19
Refinance lending (mils.) (Jan.)
  (10)                                $7,294.9       +22

Foreclosures
  Number (Dec.)                            191     -69.6
  Value (mils.) (Dec.)                   $57.5     -52.9
Building contracts (mils.)
  Residential (March)                   $325.7     -15.3
  Nonresidential (March)                $333.1     -53.3
Building permits (mils.)
  Residential (Dec.)                    $381.6     +42.9
  Nonresidential (Dec.)                 $268.1      +1.9
Housing start permits (Dec.)             1,462    +105.1
Home sales (Jan.)                        5,569      +0.9
Home prices (000's) (Jan.)                $372     +16.9
Condo sales ( Jan.)                      1,492      +7.2
Condo prices (000's) (Jan.)               $299     +12.2
Apartments (4th qtr.)
  Gross occupancy                        96.1%        NA
  Avg. sq. ft. rent                      $1.49        +4
  Avg. monthly rent                     $1,259      +3.3
Office vacancy rates (1st qtr.)
  Downtown L.A.                          19.8%        NA
  San Fernando Valley                     11.5        NA
  West L.A.                                 17        NA
  South Bay                                 20        NA
  Countywide                              16.1        NA
Industrial vacancy rates (1st qtr.)
  Downtown/Central                        1.9%        NA
  South Bay                                4.1        NA
  San Gabriel Valley                       2.4        NA

TOURISM TOURISM

                                                         % -from
                                    Latest   Previous   previous
                                    period     period     period

Hotel occupancy rate (Feb.)          79.9%      73.7%         NA
Room rate (Feb.)                   $127.28    $123.81       +2.8
Passengers
  LAX (000's) (March)              5,188.8    4,270.9      +21.5
  Burbank Airport (000's) (Feb.)     379.9      379.6       +0.1

                                             %+ from
                                      Year      year
                                       ago       ago

Hotel occupancy rate (Feb.)          78.6%        NA
Room rate (Feb.)                   $126.32      +0.8
Passengers
  LAX (000's) (March)              4,906.7      +5.8
  Burbank Airport (000's) (Feb.)     358.4      +1.1

(1.) Not seasonally adjusted.

(2.) Thousands of jobless to index point of job ads.

(3.) Film production days

(4.) Through Los Angeles Customs District.

(5.) In thousands of tons.

(6.) 20-foot equivalent unit.

(7.) 1982-1984=100.

(8.) San Fernando Valley and metropolitan L.A. combined

(9.) Apartment and residential combined

(10.) Includes refinancings, second mortgages and equity
mortgages

(11.) Based on a survey by Grubb & Ellis Co. Excludes
available sublease space NA means not applicable

BOLDFACE INDICATES UPDATED FIGURES

Sources: California State Employment Development Department (employment
figures); The Conference Board, N.Y. (help-wanted ad index);
Entertainment Industry Development Corporation Los Angeles Film Office
(film permits); U.S. Bankruptcy Court, Central District of Calif., Los
Angeles (bankruptcies); Dun & Bradstreet (business failures); Economic
Development Corporation, Los Angeles (exports, imports); City of Los
Angeles Airport Department (LAX passenger traffic and air cargo);
Burbank-Glendale-Pasadena Airport Authority (Burbank passenger traffic
and air cargo); Bureau of Labor Statistics, Los Angeles (Los Angeles
consumer price index); Office of Economic Research at California State
University, Long Beach (index of leading indicators); First American
Real Estate Solutions, Anaheim (construction lending, property lending,
refinance lending, foreclosures, home sales, home prices, home prices
per square foot, condo sales, condo prices); F.W. Dodge Division,
McGraw-Hill (building contracts); Construction Industry Research Board
(housing start permits, building permits); M/PF Research Inc.
(apartments); Grubb & Ellis (office and industrial vacancy rates); PKF
Consulting (hotel occupancy rate, room rate).

Note: Updated figures is indicated with #.