Econowatch L.A. County.

GENERAL INDICATORS

                                                           % - from
                                      Latest    Previous   previous
                                      period      period     period

Employment (000's) (Mar.) (1)        4,640.2     4,646.2       -0.1
Unemployment (000's) (Mar.) (1)        241.1       230.2       +4.7
Film Production Days
  (1 st qtr.) (2)                    1,467.8      13,780       +6.5

Bankruptcies
Chapter 7 (Mar.)                         789         670      +17.8
Chapter 11 (Mar.)                         13           5     +160.0

Trade (3)
Exports (mils.) (Feb)               $7,151.0    $7,632.3       -6.3
Imports (mils.) (Feb.)             $18,415.8   $19,649.8       -6.3
Air cargo (4)
  LAX (Mar.)                           178.1       156.3      +13.9
  Burbank (Feb.)                         8.7         9.4       -7.4
Container volumes (5) (000's)
  Long Beach (Mar.)                    541.1       541.2       -0.2
  Los Angeles (Mar.)                   629.9       649.2       -3.0

Los Angeles CPI (Mar.)                 216.5       214.8       -0.8

Electricity Accounts (000's) (6)
  Residential (Mar.)                  1247.8      1243.4       +0.4
  Commercial (Mar.)                    178.1       182.1       -2.2
  Industrial (Mar.)                     13.6        13.7       -0.7

                                        Year    %+ from
                                         ago   year ago

Employment (000's) (Mar.) (1)        4,650.7       -0.2
Unemployment (000's) (Mar.) (1)        228.0       +5.7
Film Production Days
  (1 st qtr.) (2)                     13,885       +5.7

Bankruptcies
Chapter 7 (Mar.)                         610      +29.3
Chapter 11 (Mar.)                         23      -43.5

Trade (3)
Exports (mils.) (Feb)               $6,520.7       +9.7
Imports (mils.) (Feb.)             $15,661.5      +17.6
Air cargo (4)
  LAX (Mar.)                           192.9       -7.7
  Burbank (Feb.)                         9.2       -5.8
Container volumes (5) (000's)
  Long Beach (Mar.)                    561.2       -3.6
  Los Angeles (Mar.)                   670.9       -6.1

Los Angeles CPI (Mar.)                 208.5       +3.8

Electricity Accounts (000's) (6)
  Residential (Mar.)                  1243.4       +0.4
  Commercial (Mar.)                    178.8       -0.4
  Industrial (Mar.)                     14.0       -2.9

REAL ESTATE

                                                              +from
                                     Latest    Previous    previous
                                     period      period      period

Construction lending
  (mils.) (Mar.)                     $779.3      $442.6      +76.1
Property acquisition lending
  (mils.) (7) (Mar.)               $4,770.4    $3,334.2      +43.1
Refinance lending (mils.)
  (Mar.) (8)                      $11,692.7    $8,961.8      +30.5
Foreclosures
  Number (Mar.)                         834         601      +38.8
  Value (mils.) (Mar.)               $330.8      $253.7      +30.4
Building contracts (mils.)
  Residential (Dec.)                 $572.9      $341.2      +67.9
  Nonresidential (Dec.)              $448.8      $820.2      -45.3
Building permits (mils.)
  Residential (Mar.)                 $679.8      $414.6      +64.0
  Nonresidential (Mar.)              $408.2      $321.1      +27.1
Housing start permits (Mar.)          2,533       1,575      +60.8
Home sales (April)                    5,096#      5,286#      -3.6#
Home prices (000's) (April)          $575.0#     $560.0#      +2.7#
Condo sales (April)                   1,531#      1,538#      -0.5#
Condo prices (000's) (April)         $445.0#     $450.0#      -1.1#
Apartments (1st qtr.)
  Gross occupancy                     95.9%       95.3%         NA
  Avg. sq. ft. rent                   $1.90       $1.86       +2.2
  Avg. monthly rent                  $1,642      $1,614       +1.7
Office vacancy rates (1st qtr.)
  Downtown L.A.                       14.0%       14.1%         NA
  San Fernando Valley                   5.6         6.0         NA
  West L.A.                             8.4         6.4         NA
  South Bay                            12.8        14.5         NA
  Countywide                            9.5         9.5         NA
Industrial vacancy rates
    (1st qtr.)
  Downtown/Central                     1.2%        0.9%         NA
  South Bay                             1.8         1.9         NA
  San Gabriel Valley                    1.8         1.2         NA

                                       Year     %+ from
                                        ago    year ago

Construction lending
  (mils.) (Mar.)                     $752.6       +3.5
Property acquisition lending
  (mils.) (7) (Mar.)               $5,898.7      -19.1
Refinance lending (mils.)
  (Mar.) (8)                      $11,132.6       +5.0
Foreclosures
  Number (Mar.)                         106     +686.8
  Value (mils.) (Mar.)                $46.5     +611.4
Building contracts (mils.)
  Residential (Dec.)                 $367.4      +55.9
  Nonresidential (Dec.)              $699.4      -35.8
Building permits (mils.)
  Residential (Mar.)                 $628.5       +8.2
  Nonresidential (Mar.)              $377.4       +8.2
Housing start permits (Mar.)          2,485       +1.9
Home sales (April)                    7,159#     -28.8#
Home prices (000's) (April)          $545.0#      +5.5#
Condo sales (April)                   1,961#     -21.9#
Condo prices (000's) (April)         $415.0#      +7.2#
Apartments (1st qtr.)
  Gross occupancy                     97.5%         NA
  Avg. sq. ft. rent                   $1.69      +12.4
  Avg. monthly rent                  $1,420      +15.6
Office vacancy rates (1st qtr.)
  Downtown L.A.                       15.0%         NA
  San Fernando Valley                   7.0         NA
  West L.A.                             8.0         NA
  South Bay                            16.1         NA
  Countywide                           11.0         NA
Industrial vacancy rates
    (1st qtr.)
  Downtown/Central                     1.4%         NA
  South Bay                             2.5         NA
  San Gabriel Valley                    1.9         NA

TOURISM

                                                        % + from
                                    Latest   Previous   previous
                                     month      month      month

Hotel occupancy rate (Feb.)          79.7%      72.5%         NA
Room rate (Feb.)                   $160.93    $155.93       +3.2
Passengers
  LAX (000's) (Mar.)               5,241.8    4,306.6      +21.7
  Burbank Airport (000's) (Feb.)     407.5      435.9       -6.5

                                      Year    %+ from
                                       ago   year ago

Hotel occupancy rate (Feb.)          78.0%         NA
Room rate (Feb.)                   $144.58     +11.3%
Passengers
  LAX (000's) (Mar.)               5,090.3       +3.0
  Burbank Airport (000's) (Feb.)     409.4       -0.5

FOOTNOTES

(1.) Not seasonally adjusted.

(2.) Music, television, film and commercials quarterly.

(3.) Through Los Angeles Customs District.

(4.) In thousands of tons.

(5.) 20-foot equivalent unit.

(6.) Metropolitan L.A. and San Fernando Valley

(7.) Apartment and residential combined

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

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 are indicated with #.