Econowatch L.A. County.

GENERAL
INDICATORS

                                           Latest     Previous
                                           period      period

Employment (000's) (April) # (1)           4,649.7 #   4,640.2 #
Unemployment (000's) (April)# (1)            260.4 #     241.1 #
Film Production Days (1st qtr.) (2)         14,678      13,780

Bankruptcies

Chapter 7 (April)                              946        1069
Chapter 11 (April)                              11          20

Trade (3)

Exports (mils.) (Mar.)                    $8,823.6    $7,151.0
Imports (mils.) (Mar.)                   $18,765.8   $18,415.8

Air cargo # (4)
  LAX (April) #                              162.0 #     178.1 #
  Burbank (Mar.) #                             9.7 #       8.7 #

Container volume (5) (000's) #
  Long Beach (April) #                       579.2 #     541.1 #
  Los Angeles (April) #                      679.7 #     629.9 #

Los Angeles CPI (April) #                    217.8 #     216.5 #

Electricity Accounts (000's) (6)
  Residential (April)                      1,246.9     1,247.8
  Commercial (April)                         181.2       178.1
  Industrial (April)                          13.6        13.6

                                       % -from                 %+from
                                       previous       Year      year
                                        period         ago       ago

Employment (000's) (April) # (1)         +0.2 #   4,630.7 #    +0.2 #
Unemployment (000's) (April) # (1)       -4.4 #     219.9 #    +4.8 #
Film Production Days (1 st qtr.) (2)     +6.5      13,885      +5.7

Bankruptcies

Chapter 7 (April)                        -12        534       +77
Chapter 11 (April)                       -45         10       +10

Trade (3)

Exports (mils.) (Mar.)                  +23.4    $8,104.4      +8.9
Imports (mils.) (Mar.)                   +1.9   $19,127.5      -1.9

Air cargo # (4)
  LAX (April) #                          +9.9 #    171.9 #   +6.1 #
  Burbank (Mar.) #                      +11.5 #     11.0 #  -11.8 #

Container volume (5) (000's) #
  Long Beach (April) #                   +7.0 #    619.5 #    -6.5 #
  Los Angeles (April) #                  +7.9 #    673.4 #    +0.9 #

Los Angeles CPI (April) #                +0.6 #    210.5 #    +3.5 #

Electricity Accounts (000's) (6)
  Residential (April)                    -0.1     1,241.2     +0.5
  Commercial (April)                     +1.7       182.3     -0.6
  Industrial (April)                      0          13.9     -2.2

REAL ESTATE

                                          Latest     Previous
                                          period      period

Construction lending (mils.) (Mar.)         $779.3      $442.6
Property acquisition lending
  (mils.) (7) (Mar.)                      $4,770.4    $3,334.2
Refinance lending (mils.) (Mar.) (8)     $11,692.7    $8,961.8

Foreclosures
  Number (Mar.)                                834         601
  Value (mils.) (Mar.)                      $330.8      $253.7

Building contracts (mils.)
  Residential (Mar.)                        $356.5      $367.5
  Nonresidential (Mar.)                     $320.0      $262.9

Building permits (mils.)
  Residential (April)                       $520.3      $686.0
  Nonresidential (April)                    $311.0      $422.4

Housing start permits (Mar.)                 2,533       1,575
Home sales (May) #                           5,666 #     5,096 #
Home prices (000's) (May) #                 $585.0 #    $575.0 #
Condo sales (May) #                          1,686 #     1,531 #
Condo prices (000's) (May) #                $440.0 #    $445.0 #

Apartments (1st qtr.)
  Gross occupancy                             95.9%       95.3%
  Avg. sq. ft. rent                          $1.90       $1.86
  Avg. monthly rent                         $1,642      $1,614

Office vacancy rates (1st qtr.)

  Downtown L.A.                               14.0%       14.1%
  San Fernando Valley                          5.6         6.0
  West L.A.                                    8.4         6.4
  South Bay                                   12.8        14.5
  Countywide                                   9.5         9.5

Industrial vacancy rates (1st qtr.)

  Downtown/Central                             1.2%        0.9%
  South Bay                                    1.8         1.9
  San Gabriel Valley                           1.8         1.2

                                         % +from                 %+ from
                                         previous      Year       year
                                          period       ago        ago

Construction lending (mils.) (Mar.)         +76.1       $752.6     +3.5
Property acquisition lending
  (mils.) (7) (Mar.)                        +43.1     $5,898.7    -19.1
Refinance lending (mils.) (Mar.) (8)        +30.5    $11,132.6     +5.0

Foreclosures
  Number (Mar.)                             +38.8         106    +686.8
  Value (mils.) (Mar.)                      +30.4       $46.5    +611.4

Building contracts (mils.)
  Residential (Mar.)                         -3.0      $820.1     -57.0
  Nonresidential (Mar.)                     +21.7      $483.0     -37.0

Building permits (mils.)
  Residential (April)                        -24%      $578.0      -10%
  Nonresidential (April)                     -26%      $256.8      +21%

Housing start permits (Mar.)               +60.8      2,485      +1.9
Home sales (May) #                         +11.2 #     8,949 #  -36.7 #
Home prices (000's) (May) #                 +1.7 #    $550.0 #   +6.4 #
Condo sales (May) #                        +10.1 #     2,473 #  -31.8 #
Condo prices (000's) (May) #                -1.1 #    $415.0 #   +6.0 #

Apartments (1st qtr.)
  Gross occupancy                             NA         97.5%       NA
  Avg. sq. ft. rent                          +2.2       $1.69     +12.4
  Avg. monthly rent                          +1.7      $1,420     +15.6

Office vacancy rates (1st qtr.)
  Downtown L.A.                               NA         15.0%       NA
  San Fernando Valley                         NA          7.0        NA
  West L.A.                                   NA          8.0        NA
  South Bay                                   NA         16.1        NA
  Countywide                                  NA         11.0        NA

Industrial vacancy rates (1st qtr.)
  Downtown/Central                            NA          1.4%       NA
  South Bay                                   NA          2.5        NA
  San Gabriel Valley                          NA          1.9        NA

TOURISM
                                          Latest     Previous
                                           month       month

Hotel occupancy rate (Mar.)                 80.9%       79.7%
Room rate (Mar.)                         $156.97     $160.93

Passengers #
  LAX (000's) (April) #                   5,173.1 #     5,241.8 #
  Burbank Airport (000's) (March) #         477.4 #      407.5  #

                                     % +from                 %+from
                                     previous      Year      year
                                       month       ago       ago

Hotel occupancy rate (Mar.)             NA         76.1%       NA
Room rate (Mar.)                      -2.5       $146.39      +7.2
Passengers #
  LAX (000's) (April) #               -1.3 #     5,087.9 #    +1.7 #
  Burbank Airport (000's) (March) #  +17.2 #       463.3 #    +3.4 #

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 LA. and San Fernando Valley

(7.) Apartment and residential combined

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

# 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).