Econowatch L.A. County.

GENERAL
INDICATORS

                                                          % - from
                                    Latest     Previous   previous
                                    period       period     period

Employment (000's) (Nov.) (1)      4,689.7      4,697.0      -0.2%
Unemployment (000's) (Nov.) (1)      241.5        215.9      +11.9
Help-wanted ads index (Nov.)            11            8      +37.5
Jobless-to-job ad ratio (Nov.) (2)    22.0           27      -18.5
Film Production Days (Oct) (3)        3224        3,177       +1.5

Bankruptcies
Chapter 7 (Oct.)                    17,142        5,934     +188.9
Chapter 11 (Oct.)                       19           11      +72.7

Exports (mils.) (Sept.)           $6,522.6     $7,001.0       -6.8
Imports (mils.) (Sept.)          $19,906.8    $18,462.2       +7.8
Air cargo5
  LAX (Sept.)                        167.5        171.9       -2.6
  Burbank (Sept.)                      4.6          4.6          0
Container volume6 (000's)
  Long Beach (Oct.)                  600.9        610.3       -1.5
  Los Angeles (Oct.)                 707.7        663.5       +6.6
Los Angeles CPI (Sept.)              205.8        203.1       +1.3
Electricity Accounts (000's) (8)
  Residential (Oct.)               1,700.4      1,687.5       +0.8
  Commercial (Oct.)                  243.4        236.1       +3.1
  Industrial (Oct.)                   20.4         20.7       -1.4

                                                   Year   % + from
                                                    ago   year ago

Employment (000's) (Nov.) (1)                   4,559.3      +2.9%
Unemployment (000's) (Nov.) (1)                   303.0      -20.3
Help-wanted ads index (Nov.)                         15      -26.6
Jobless-to-job ad ratio (Nov.) (2)                 20.2       +8.9
Film Production Days (Oct) (3)                    3,263       -1.2

Bankruptcies
Chapter 7 (Oct.)                                  2,483     +590.4
Chapter 11 (Oct.)                                    19          0

Exports (mils.) (Sept.)                        $5,793.5      +12.6
Imports (mils.) (Sept.)                       $16,978.4      +17.2
Air cargo5
  LAX (Sept.)                                     175.3       -4.4
  Burbank (Sept.)                                   4.0        +15
Container volume6 (000's)
  Long Beach (Oct.)                               557.7       +7.7
  Los Angeles (Oct.)                              642.9      +10.1
Los Angeles CPI (Sept.)                           194.5       +5.8
Electricity Accounts (000's) (8)
  Residential (Oct.)                            1,695.9       +0.2
  Commercial (Oct.)                               242.0       +0.6
  Industrial (Oct.)                                20.8       -1.9

REAL ESTATE

                                                 Latest    Previous
                                                 period      period

Construction lending (mils.) (Oct.)              $497.7      $715.3
Property acquisition lending (mils.) (9)       $5,899.4    $7,006.4
(Oct.)
Refinance lending (mils.) (Oct.) (10)         $11,932.8   $12,457.2

Foreclosures
  Number (Oct.)                                      78          60
  Value (mils.) (Oct.)                            $29.1       $33.8

Building contracts (mils.)
  Residential (Sept.)                            $581.2      $591.5
  Nonresidential (Sept.)                         $430.2      $443.3
Building permits (mils.)
  Residential (Aug)                              $665.4      $521.3
  Nonresidential (Aug)                           $318.0      $248.9
Housing start permits (Aug)                       2,369       2,045
Home sales (Aug.)                                 8,648       7,948
Home prices (000's) (Aug.)                       $521.5        $515
Condo sales (Aug.)                                2,282       2,041
Condo prices (000's) (Aug.)                        $401        $398
Apartments (3rd qtr.)#
  Gross occupancy#                               97.8%#      97.7%#
  Avg. sq. ft. rent#                             $1.63#       1.58#
  Avg. monthly rent#                            $1,394#     $1,344#
Office vacancy rates (4th qtr.)#
  Downtown L.A.#                                 14.9%#      15.6%#
  San Fernando Valley#                             7.0#        7.8#
  West L.A.#                                       9.1#        9.9#
  South Bay #                                     18.2#       19.0#
  Countywide#                                     11.4#       12.2#
Industrial vacancy rates (4th qtr.)#
  Downtown/Central#                               1.3%#       1.0%#
  South Bay#                                       2.8#        2.2#
  San Gabriel Valley#                              1.6#        1.2#

                                               % - from
                                               previous        Year
                                                 period         ago

Construction lending (mils.) (Oct.)              -0.30%      $470.9
Property acquisition lending (mils.) (9) (Oct.)   -15.8    $5,081.4
Refinance lending (mils.) (Oct.) (10)              -4.2   $10,858.8

Foreclosures
  Number (Oct.)                                     +30          88
  Value (mils.) (Oct.)                            -13.9       $24.7

Building contracts (mils.)
  Residential (Sept.)                              -1.7      $480.1
  Nonresidential (Sept.)                             -3      $227.3
Building permits (mils.)
  Residential (Aug)                               -27.6      $370.5
  Nonresidential (Aug)                            +15.8      $1,898
Housing start permits (Aug)                       -20.5       1,794
Home sales (Aug.)                                  +8.8       7,221
Home prices (000's) (Aug.)                         +1.3        $430
Condo sales (Aug.)                                +11.8       2,088
Condo prices (000's) (Aug.)                        +0.8      $332.5
Apartments (3rd qtr.)#
  Gross occupancy#                                  NA#      96.9%#
  Avg. sq. ft. rent#                              +3.2#      $1.55#
  Avg. monthly rent#                              +3.7#     $1,311#
Office vacancy rates (4th qtr.)#
  Downtown L.A.#                                    NA#      19.1%#
  San Fernando Valley#                              NA#        8.9#
  West L.A.#                                        NA#       14.6#
  South Bay #                                       NA#       20.6#
  Countywide#                                       NA#       14.8#
Industrial vacancy rates (4th qtr.)#
  Downtown/Central#                                 NA#       1.2%#
  South Bay#                                        NA#        2.6#
  San Gabriel Valley#                               NA#        1.2#

                                                          % + from
                                                          year ago

Construction lending (mils.) (Oct.)                           -5.7%
Property acquisition lending (mils.) (9) (Oct.)               +16.1
Refinance lending (mils.) (Oct.) (10)                          +9.9

Foreclosures
  Number (Oct.)                                               -11.4
  Value (mils.) (Oct.)                                        +17.8

Building contracts (mils.)
  Residential (Sept.)                                         +21.1
  Nonresidential (Sept.)                                      +89.3
Building permits (mils.)
  Residential (Aug)                                           -14.2
  Nonresidential (Aug)                                        +24.8
Housing start permits (Aug)                                    +6.7
Home sales (Aug.)                                             +19.8
Home prices (000's) (Aug.)                                    +21.3
Condo sales (Aug.)                                             +9.3
Condo prices (000's) (Aug.)                                   +20.6
Apartments (3rd qtr.)#
  Gross occupancy#                                              NA#
  Avg. sq. ft. rent#                                          +5.2#
  Avg. monthly rent#                                          +6.3#
Office vacancy rates (4th qtr.)#
  Downtown L.A.#                                                NA#
  San Fernando Valley#                                          NA#
  West L.A.#                                                    NA#
  South Bay #                                                   NA#
  Countywide#                                                   NA#
Industrial vacancy rates (4th qtr.)#
  Downtown/Central#                                             NA#
  South Bay#                                                    NA#
  San Gabriel Valley#                                           NA#

                                                          % + from
TOURISM                             Latest     Previous   previous
                                     month       month      month

Hotel occupancy rate (Oct.)          77.9%       79.3%       -1.8%
Room rate (Oct.)                   $129.39     $125.85       +2.8
Passengers
  LAX (000's) (Oct.)               4,984.2     4,902.5       +1.7
  Burbank Airport (000's) (Oct.)     485.7       470.4       +3.6

                                                  Year    %+ from
                                                   ago    year ago

Hotel occupancy rate (Oct.)                      77.7%       0.3%
Room rate (Oct.)                               $122.93       +5.3
Passengers
  LAX (000's) (Oct.)                             4,973       +0.2
  Burbank Airport (000's) (Oct.)                 415.8      +16.8

FOOTNOTES

(1.) Not seasonally adjusted.

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

(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 INDICAIES 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 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 indicates within #.