Econowatch L.A. County.

GENERAL
INDICATORS

                                                              % - from
                                       Latest      Previous   previous
                                       period        period     period

Employment (000's) (July) (1)          4,627        4,602        +0.5%
Unemployment (000's) (July) (1)          280          275        +1.8
Help-wanted ads index (June)              14           15        -6.7
Jobless-to-job ad ratio                 19.7#        17.8#      +10.7#
  (June)# (2)
Film Production Days (June)# (3)       2,645#       2,779#       -4.8#

Bankruptcies
Chapter 7 (July)                       2,728        3,015        -9.5
Chapter 11 (July)                          6           13       -53.8

Exports (mils.) (June)#             $6,597.2#    $6,667.6#       -1.0#
Imports (mils.) (June)#            $18,567.8#   $17,229.8#       +7.7#
Air cargo (5)
  LAX (June)                           180.8        170.1        +6.3
  Burbank (June)                         4.7          4.2       +11.9
Container volume6 (000's)
  Long Beach (June)                    576.6        564.9        +2.1
  Los Angeles (June)                     634        610.6        +3.8
Los Angeles CPI (June)                 200.7        201.5        -0.4
Electricity Accounts (000's) (8)
  Residential (June)                 1,236.2      1,236.6        -0.03
  Commercial (June)                    122.5        122.3        +0.2

                                        Year    % + from
                                         ago    year ago

Employment (000's) (July) (1)          4,489       +3.1%
Unemployment (000's) (July) (1)          345      -18.8
Help-wanted ads index (June)              17      -17.6
Jobless-to-job ad ratio                 19.5#      +1#
  (June)# (2)
Film Production Days (June)# (3)       2,706#      -2.3#

Bankruptcies
Chapter 7 (July)                       2,589       +5.4
Chapter 11 (July)                         12      -50

Exports (mils.) (June)#               $6,115#      +7.9#
Imports (mils.) (June)#            $17,019.3#      +9.1#
Air cargo (5)
  LAX (June)                           176.6       +2.4
  Burbank (June)                         4.2      +11.9
Container volume6 (000's)
  Long Beach (June)                    494.1      +16.7
  Los Angeles (June)                  6612.1       +3.6
Los Angeles CPI (June)                 200.6       +0.05
Electricity Accounts (000's) (8)
  Residential (June)                 1,229.9       +0.5
  Commercial (June)                    121.3       +1

REAL ESTATE

                                          Latest     Previous
                                          period       period

Construction lending (mils.) (May)        $538.7       $343.8
Property acquisition lending (mils.)
  (9) (May)                               $5,889     $5,926.6
Refinance lending (mils.) (May) (10)   $10,272.5    $10,321.1
Foreclosures
  Number (June)                               60           44
  Value (mils.) (June)                     $26.1        $19.5
Building contracts (mils.)
  Residential (June)                      $713.9       $463.5
  Nonresidential (June)                   $669.8       $409.2
Building permits (mils.)#
  Residential (July)#                     $497.4#      $689.2#
  Nonresidential (July)#                  $235.7#      $383.6#
Housing start permits (July)#              1,915#       2,408#
Home sales (June)                          8,828        7,448
Home prices (000's) (June)                  $500         $480
Condo sales (June)                         2,336        1,982
Condo prices (000's) (June)                 $390         $384
Apartments (1st qtr.)
  Gross occupancy                            97%        96.8%
  Avg. sq. ft. rent                        $1.59        $1.55
  Avg. monthly rent                       %1,327       $1,300
Office vacancy rates (2nd qtr.)
  Downtown L.A                             15.9%        17.8%
  San Fernando Valley                        7.8         7.9
  West L.A.                                 11.5         13.5
  South Bay                                 20.1         20.4
  Countywide                                13           14
Industrial vacancy rates (2nd qtr.)
Downtown/Central                              1%         1.1%
South Bay                                    2.2         2.5
San Gabriel Valley                           1.2         1.5

                                       % + from
                                       previous       Year
                                         period        ago

Construction lending (mils.) (May)        +56.7%      $429.6
Property acquisition lending (mils.)
  (9) (May)                                -0.6       $5,046
Refinance lending (mils.) (May) (10)       -0.5    $12,655.5
Foreclosures
  Number (June)                           +36.4          108
  Value (mils.) (June)                    +33.8        $30.7
Building contracts (mils.)
  Residential (June)                      +54         $440.7
  Nonresidential (June)                   +63.7       $473.9
Building permits (mils.)#
  Residential (July)#                     -27.8#      $524.5#
  Nonresidential (July)#                  -38.6#        $253#
Housing start permits (July)#             -20.5#       1,794#
Home sales (June)                         +18.5        7,686
Home prices (000's) (June)                 +4.2         $440
Condo sales (June)                        +17.9        2,217
Condo prices (000's) (June)                +1.6         $348
Apartments (1st qtr.)
  Gross occupancy                          NA          96.2%
  Avg. sq. ft. rent                        +2.6        $1.52
  Avg. monthly rent                        +2.1       $1,271
Office vacancy rates (2nd qtr.)
  Downtown L.A                             NA           20%
  San Fernando Valley                      NA           10
  West L.A.                                NA           16.7
  South Bay                                NA           19.3
  Countywide                               NA           15.7
Industrial vacancy rates (2nd qtr.)
Downtown/Central                           NA           1.6%
South Bay                                  NA           3.3
San Gabriel Valley                         NA           1.8

                                       % + from
                                       year ago

Construction lending (mils.) (May)       +25.4%
Property acquisition lending (mils.)
  (9) (May)                              +16.7
Refinance lending (mils.) (May) (10)     -18.8
Foreclosures
  Number (June)                          -44.4
  Value (mils.) (June)                   -15
Building contracts (mils.)
  Residential (June)                     +62
  Nonresidential (June)                  +41.3
Building permits (mils.)#
  Residential (July)#                     -5.2#
  Nonresidential (July)#                  -6.8#
Housing start permits (July)#             +6.7#
Home sales (June)                        +14.9
Home prices (000's) (June)               +13.6
Condo sales (June)                        +5.4
Condo prices (000's) (June)              +12.1
Apartments (1st qtr.)
  Gross occupancy                           NA
  Avg. sq. ft. rent                       +4.6
  Avg. monthly rent                       +4.4
Office vacancy rates (2nd qtr.)
  Downtown L.A                              NA
  San Fernando Valley                       NA
  West L.A.                                 NA
  South Bay                                 NA
  Countywide                                NA
Industrial vacancy rates (2nd qtr.)
Downtown/Central                            NA
South Bay                                   NA
San Gabriel Valley                          NA

TOURISM

                                                          % + from
                                   Latest     Previous    previous
                                    month        month       month

Hotel occupancy rate (June)          79.4%       74.8%          NA
Room rate (June)                   $126.43     $133.67        -5.4
Passengers
  LAX (000's) (July)#              5,993.4#    5,534.9#       +8.3#
  Burbank Airport (000's) (June)     477.6       466.5        +2.4

                                     Year     % + from
                                      ago     year ago

Hotel occupancy rate (June)          76.7%         NA
Room rate (June)                   $116.72       +8.3
Passengers
  LAX (000's) (July)#              5,989.1#      +0.1#
  Burbank Airport (000's) (June)     428.2      +11.5

FOOTNOTES

(1.) Not seasonally adjusted.

(2.) Thousands of jobless to index point of jo

(3.) Music, television, film and commercials.

(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

Note: Updated figures is indicated with #.

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).