Executive Cost of Living (US$).

                      Executive Cost of Living (US$)

                                    BUENOS    SAO MEXICO SANTIAGO CARACAS
                                     AIRES  PAULO   CITY
One night stay/5-star hotel            380    336    228      368     278
2-bedroom luxury                    1,000- 1,100- 1,300-     900-  1,200-
 apartment rent (low/high)           3,000  2,500  2,500    2,000   3,000
Office Lease rate ([m.sup.2]/month)  34.00  40.00  28.00    15.31   26.00
Taxi fare plus tip from
 airport to Downtown                 45.50  25.34   8.38    18.26   25.33
Mid-range sedan/wagon
 (up to 2500 cc)                    47,000 50,000 33,600   48,200  85,000
Liter of gasoline                     0.98   0.54   0.49     0.48    0.10
Cup of gourmet coffee                 2.10   1.06   1.12     2.41    0.99
Dinner at a fine restaurant          37.58  36.90  19.94    28.42   32.29
Bottle of Beer (domestic)             0.72   0.36   0.60     0.70    0.63
1-way airfare to New York            1,042    895    523      852     380
Movie tickets                         7.00   7.70   2.93     5.53    4.96
Video Rental                          3.66   3.84   2.38     3.62    3.08
18 holes of golf                     60.00  44.00  81.00    45.00     N/A
Tennis court (1 Hour)                20.80  30.19  11.54    12.58    8.87
Dry cleaning blazer                  11.50   5.05   3.65     5.21    5.73
Dry cleaning trousers/slacks          7.14   7.78   2.30     6.02    3.17
Men's haircut and blow-dry           20.10  22.87  11.54    15.43    9.39
Maid service/hourly rate              6.50   5.88   1.70     2.47    1.68


                                      LIMA BOGOTA  MIAMI

One night stay/5-star hotel            224    164    259
2-bedroom luxury                      900- 1,000- 2,000-
 apartment rent (low/high)           1,500  2,500  3,000
Office Lease rate ([m.sup.2]/month)  18.00  20.00  17.10
Taxi fare plus tip from
 airport to Downtown                 32.00   8.78  20.00
Mid-range sedan/wagon
 (up to 2500 cc)                    33,200 41,300 27,000
Liter of gasoline                     0.56   0.44   0.31
Cup of gourmet coffee                 2.00   0.73   3.00
Dinner at a fine restaurant          26.70  28.67  35.00
Bottle of Beer (domestic)             0.50   0.60   1.40
1-way airfare to New York              477    534    198
Movie tickets                         4.61   5.13   7.40
Video Rental                          2.76   2.92   3.48
18 holes of golf                     35.00    N/A  80.00
Tennis court (1 Hour)                11.04  10.98  18.36
Dry cleaning blazer                   4.69   2.90   8.00
Dry cleaning trousers/slacks          3.70   3.59   4.35
Men's haircut and blow-dry           11.96   8.80  20.00
Maid service/hourly rate              2.17   1.29  11.50


As of IQ of 1999.
SOURCES: ECA Windham, Corporate Resources Group, CB Richard Ellis, LATIN
TRADE.