Industry analysis.

INDUSTRY ANALYSIS

                                July 31     July 25     Point     1-Wk
Index                             Close       Close    Change    % Chg.

AEROSPACE/DEFENSE                275.49      279.61    -$4.12    -1.5%
APPAREL                          151.38      166.94    -15.56    -9.3%
AUTOMOTIVE/PLASTICS/METALS       314.91      335.35    -20.44    -6.1%
BIOMEDICAL/PHARMACEUTICAL         97.92      102.77     -4.85    -4.7%
COMMUNICATIONS                    35.76       37.50     -1.74    -4.6%
COMPUTERS/PERIPHERALS/            20.18       21.17     -0.99    -4.7%
  ELECTRONICS
CONSTRUCTION/ENGINEERING         329.56      339.22     -9.66    -2.8%
ENERGY/UTILITIES                 319.42      334.45    -15.02    -4.5%
FINANCIAL SERVICES               314.21      333.99    -19.78    -5.9%
HEALTH CARE                      454.11      463.41     -9.30    -2.0%
INSURANCE                        158.85      160.39     -1.53    -1.0%
INTERNET                         147.37      173.33    -25.96   -15.0%
MEDIA/LEISURE/ENTERTAINMENT       83.07       87.85     -4.78    -5.4%
MANUFACTURING                    164.50      179.30    -14.79    -8.3%
MISC. SERVICES                   191.11      198.12     -7.01    -3.5%
REAL ESTATE                      416.47      438.72    -22.24    -5.1%
RESTAURANTS/RETAIL/              203.02      207.59     -4.56    -2.2%
  GROCERY STORES
SOFTWARE                         338.25      356.68    -18.44    -5.2%

                               52-Wk       YTD
Index                          % Chg.   % Chg.

AEROSPACE/DEFENSE              15.5%    12.3%
APPAREL                        37.8%    10.3%
AUTOMOTIVE/PLASTICS/METALS     30.6%    22.7%
BIOMEDICAL/PHARMACEUTICAL     -22.4%   -21.6%
COMMUNICATIONS                  8.9%    -2.1%
COMPUTERS/PERIPHERALS/         18.1%     9.8%
  ELECTRONICS
CONSTRUCTION/ENGINEERING       18.6%     4.8%
ENERGY/UTILITIES                8.5%    15.5%
FINANCIAL SERVICES            -22.5%   -31.0%
HEALTH CARE                    24.4%    -0.1%
INSURANCE                       5.0%    -3.9%
INTERNET                       16.0%    -7.1%
MEDIA/LEISURE/ENTERTAINMENT     3.7%   -10.1%
MANUFACTURING                   9.9%    -0.2%
MISC. SERVICES                 31.0%    11.4%
REAL ESTATE                    16.5%   -17.8%
RESTAURANTS/RETAIL/            21.2%     2.3%
  GROCERY STORES
SOFTWARE                       39.2%    -2.8%