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        27.0     -18.5
Film Production Days (Oct) (3)           3,224       3,177       1.5

Bankruptcies#
Chapter 7 (Dec.)#                         210#        111#     +89.1#
Chapter 11 (Dec.)#                          9#         37#     -75.7#

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 (Dec.)                      545.8       610.6     -10.6
  Los Angeles (Dec.)                     621.3       640.9      -3.1
Los Angeles CPI (Dec.)                   203.9       205.6      -0.8
Electricity Accounts (000's) (8)
  Residential (Oct.)                   1,701.8     1,686.2      +0.9
  Commercial (Oct.)                      183.1       180.1      +1.7
  Industrial (Oct.)                       20.2        20.4      -1.0

                                          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 (Dec.)#                     2.304.0#     -90.9#
Chapter 11 (Dec.)#                         14#     -35.7#

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 (Dec.)                      551.3      -1.0
  Los Angeles (Dec.)                     551.6     +12.6
Los Angeles CPI (Dec.)                   195.2      +4.5
Electricity Accounts (000's) (8)
  Residential (Oct.)                   1,688.9      +0.8
  Commercial (Oct.)                      164.9     +11.0
  Industrial (Oct.)                       20.7      -2.4

REAL ESTATE

                                                              % + from
                                         Latest    Previous   previous
                                         period      period     period

Construction lending (mils.) (Oct.)      $497.7      $715.3     -30.4%
Property acquisition lending           $5,899.4    $7,006.4     -15.8
  (mils.) (9) (Oct.)
Refinance lending (mils.)             $11,932.8   $12,457.2      -4.2
  (Oct.) (10)

Foreclosures
  Number (Oct.)                              78          60     +30
  Value (mils.) (Oct.)                    $29.1       $33.8     -13.9
Building contracts (mils.)
  Residential (Sept.)                    $581.2      $591.5      -1.7
  Nonresidential (Sept.)                 $430.2      $443.3      -3
Building permits (mils.)
  Residential (Aug)                      $665.4      $521.3     -27.6
  Nonresidential (Aug)                   $318.0      $248.9     +15.8
Housing start permits (Aug)                2369        2045     -20.5
Home sales (Aug.)                          8648        7948      +8.8
Home prices (000's) (Aug.)               $521.5      $515.0      +1.3
Condo sales (Aug.)                         2282        2041     +11.8
Condo prices (000's) (Aug.)                $401      $398.0      +0.8
Apartments (4th qtr.)
  Gross occupancy                         97.2%       97.8%      NA
  Avg. sq. ft. rent                       $1.68       $1.63      +3.1
  Avg. monthly rent                      $1,416      $1,394      +1.6
Office vacancy rates (4th qtr.)
  Downtown L.A.                           14.9%       15.6%      NA
  San Fernando Valley                      7.0         7.8       NA
  West L.A.                                9.1         9.9       NA
  South Bay                               18.2        19.0       NA
  Countywide                              11.4        12.2       NA
Industrial vacancy rates (4th qtr.)
  Downtown/Central                         1.3%        1.0%      NA
  South Bay                                2.8         2.2       NA
  San Gabriel Valley                       1.6         1.2       NA

                                           Year   % + from
                                            ago   year ago

Construction lending (mils.) (Oct.)      $470.9      +5.7%
Property acquisition lending           $5,081.4     +16.1
  (mils.) (9) (Oct.)
Refinance lending (mils.)             $10,858.8      +9.9
  (Oct.) (10)

Foreclosures
  Number (Oct.)                              88     -11.4
  Value (mils.) (Oct.)                    $24.7     +17.8
Building contracts (mils.)
  Residential (Sept.)                    $480.1      21.1
  Nonresidential (Sept.)                 $227.3      89.3
Building permits (mils.)
  Residential (Aug)                      $370.5     -14.2
  Nonresidential (Aug)                 $1,898.0     +24.8
Housing start permits (Aug)               1,794      +6.7
Home sales (Aug.)                         7,221     +19.8
Home prices (000's) (Aug.)                 $430     +21.3
Condo sales (Aug.)                         2088      +9.3
Condo prices (000's) (Aug.)              $332.5     +20.6
Apartments (4th qtr.)
  Gross occupancy                         96.8%       NA
  Avg. sq. ft. rent                       $1.55      +8.4
  Avg. monthly rent                      $1,301      +8.8
Office vacancy rates (4th qtr.)
  Downtown L.A.                           19.1%       NA
  San Fernando Valley                      8.9        NA
  West L.A.                               14.6        NA
  South Bay                               20.6        NA
  Countywide                              14.8        NA
Industrial vacancy rates (4th qtr.)
  Downtown/Central                         1.2%       NA
  South Bay                                2.6        NA
  San Gabriel Valley                       1.2        NA

TOURISM
                                                        % + from
                                    Latest   Previous   previous
                                    period     period     period

Hotel occupancy rate (Nov.)          74.3%      77.9%      -4.6%
Room rate (Nov.)                    $127.7    $129.39      -1.3
Passengers
  LAX (000's) (Nov.)               4,790.6    4,984.2      -3.9
  Burbank Airport (000's) (Nov.)     482.4      485.7      -0.7

                                     Year   % + from
                                      ago   year ago

Hotel occupancy rate (Nov.)         71.2%       4.3%
Room rate (Nov.)                   $119.4      +7.0
Passengers
  LAX (000's) (Nov.)                4,781      +0.2
  Burbank Airport (000's) (Nov.)    406.9     +18.6

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 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 #.