Econowatch L.A. County.

GENERAL
INDICATORS

                                                              %- from
                                        Latest    Previous   previous
                                        period      period     period

Employment (000's) (Aug.) (1)            4,649       4,626      +0.5%
Unemployment (000's) (Aug.) (1)            244         280      -12.9
Help-wanted ads index (Aug.)                12          11       +9.1
Jobless-to-job ad ratio (Aug.) (2)        20.3        25.5      -20.4
Film Production Days (June) (3)          2,645       2,779       -4.8

Bankruptcies#
Chapter 7 (Aug.)#                       3,647#      2,728#     +33.7#
Chapter 11 (Aug.)#                         14#          6#    +133.3#

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 (Aug.)                             171.9       189.5       -9.3
  Burbank (July)#                         4.2#        4.7#     -10.6#
Container volume (6) (000's)#
  Long Beach (Aug.)#                    615.4#      573.3#      +7.3#
  Los Angeles (Aug.)#                   651.6#      648.4#      +0.5#
Los Angeles CPI (Aug.)                   203.1       201.4       +0.8
Electricity Accounts (000's) (8)
  Residential (Aug.)                     1,234       1,238       -0.3
  Commercial (Aug.)                        123         122       +0.1
  Industrial (Aug.)                         14          14       +1.4

                                          Year    %+ from
                                           ago   year ago

Employment (000's) (Aug.) (1)            4,487      +3.6%
Unemployment (000's) (Aug.) (1)            317        -23
Help-wanted ads index (Aug.)                14      -14.3
Jobless-to-job ad ratio (Aug.) (2)        22.6      -10.2
Film Production Days (June) (3)          2,706       -2.3

Bankruptcies#
Chapter 7 (Aug.)#                       2,788#     +30.8#
Chapter 11 (Aug.)#                         37#     -62.2#

Exports (mils.) (June)                  $6,115       +7.9
Imports (mils.) (June)               $17,019.3       +9.1
Air cargo (5)
  LAX (Aug.)                             172.1       -0.1
  Burbank (July)#                           4#        +5#
Container volume (6) (000's)#
  Long Beach (Aug.)#                    520.9#     +18.1#
  Los Angeles (Aug.)#                   627.4#      +3.9#
Los Angeles CPI (Aug.)                     193       +5.2
Electricity Accounts (000's) (8)
  Residential (Aug.)                     1,231       +0.3
  Commercial (Aug.)                        122       +0.7
  Industrial (Aug.)                         14       -0.7

REAL ESTATE

                                                              % + from
                                         Latest    Previous   previous
                                         period      period     period

Construction lending (mils.) (June)      $639.2      $538.7     +18.7%
Property acquisition lending           $7,157.4      $5,889      +21.5
  (mils.) (9) (June)
Refinance lending (mils.)             $12,539.9   $10,272.5      +22.1
  (June) (10)

Foreclosures
  Number (June)                              60          44      +36.4
  Value (mils.) (June)                    $26.1       $19.5      +33.8
Building contracts (mils.)
  Residential (Aug.)                     $591.5      $378.4      +56.3
  Nonresidential (Aug.)                  $443.3      $434.3       +2.1
Building permits (mils.)
  Residential (Aug)                      $665.4      $521.3      -27.6
  Nonresidential (Aug)                   $318.0      $248.9      +15.8
Housing start permits (Aug)               2,369       2,045      -20.5
Home sales (June)                         8,828       7,448      +18.5
Home prices (000's) (June)                 $500        $480       +4.2
Condo sales (June)                        2,336       1,982      +17.9
Condo prices (000's) (June)                $390        $384       +1.6
Apartments (1st qtr.)
  Gross occupancy                           97%       96.8%         NA
  Avg. sq. ft. rent                       $1.59       $1.55       +2.6
  Avg. monthly rent                      $1,327      $1,300       +2.1
Office vacancy rates (2nd qtr.)
  Downtown L.A.                           15.9%       17.8%         NA
  San Fernando Valley                       7.8         7.9         NA
  West L.A                                 11.5        13.5         NA
  South Bay                                20.1        20.4         NA
  Countywide                                 13          14         NA
Industrial vacancy rates (2nd qtr.)
  Downtown/Central                           1%        1.1%         NA
  South Bay                                 2.2         2.5         NA
  San Gabriel Valley                        1.2         1.5         NA

                                           Year    %+ from
                                            ago   year ago

Construction lending (mils.) (June)      $467.4     +36.8%
Property acquisition lending           $5,757.8      +24.3
  (mils.) (9) (June)
Refinance lending (mils.)               $11,195        +12
  (June) (10)

Foreclosures
  Number (June)                             108      -44.4
  Value (mils.) (June)                    $30.7        -15
Building contracts (mils.)
  Residential (Aug.)                     $493.8      +19.8
  Nonresidential (Aug.)                  $493.8      -10.2
Building permits (mils.)
  Residential (Aug)                      $370.5      -14.2
  Nonresidential (Aug)                   $1,898      +24.8
Housing start permits (Aug)               1,794       +6.7
Home sales (June)                         7,686      +14.9
Home prices (000's) (June)                 $440      +13.6
Condo sales (June)                        2,217       +5.4
Condo prices (000's) (June)                $348      +12.1
Apartments (1st qtr.)
  Gross occupancy                         96.2%         NA
  Avg. sq. ft. rent                       $1.52       +4.6
  Avg. monthly rent                      $1,271       +4.4
Office vacancy rates (2nd qtr.)
  Downtown L.A.                             20%         NA
  San Fernando Valley                        10         NA
  West L.A                                 16.7         NA
  South Bay                                19.3         NA
  Countywide                               15.7         NA
Industrial vacancy rates (2nd qtr.)
  Downtown/Central                         1.6%         NA
  South Bay                                 3.3         NA
  San Gabriel Valley                        1.8         NA

TOURISM

                                                           %+from
                                     Latest   Previous   previous
                                      month      month      month

Hotel occupancy rate (July)           82.4%      79.4%         NA
Room rate (July)                    $127.53    $126.43       +0.9
Passengers
  LAX (000's) (Aug.                 5,918.7    5,993.4       -1.2
  Burbank Airport (000's) (July)#    498.2#     477.6#      +4.3#

                                       Year    %+ from
                                        ago   year ago

Hotel occupancy rate (July)           79.8%         NA
Room rate (July)                    $117.94       +8.1
Passengers
  LAX (000's) (Aug.                 5,857.3         +1
  Burbank Airport (000's) (July)#    432.1#     +15.3#

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

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 #.