Valley econowatch.

VALLEY
ECONOWATCH

                                                            % [+ or -]
                                                                  From
GENERAL                               Latest     Previous     Previous
INDICATORS                            Period       Period       Period

Air cargo (Mar.)
  Inbound (lbs. in millions)            5.0#         4.3#      +16.3%#
  Outbound (lbs. in millions)            6.#         4.9#      +22.4%#

Bankruptcies (October)
  Chapter 7                              794          738        +7.1%
  Chapter 11                               2            4       -50.0%
  Chapter 13                             100          114       -12.3%

Electricity
  Residential accounts (Feb.)        473 354      472,692        +0.1%
  Commercial accounts (Feb.)          42,752       42,526        +0.1%
  Industrial accounts (Feb.)           6,609        6,559        +0.1%

Tourism (Jan.)
  Hotel occupancy rate                73.59%       64.57%         +14%
  Room rate                           $128.7      $111.22       +15.7%
  Airline Passengers (Jan.)         463,309#     409,415#      +13.2%#

                                               % [+ or -]
GENERAL                                 Year         From
INDICATORS                               Ago     Year Ago

Air cargo (Mar.)
  Inbound (lbs. in millions)            3.7#      +35.1%#
  Outbound (lbs. in millions)           5.3#      +13.2%#

Bankruptcies (October)
  Chapter 7                              835        -5.0%
  Chapter 11                               3       -33.4%
  Chapter 13                             173       -42.2%

Electricity
  Residential accounts (Feb.)             NA           --
  Commercial accounts (Feb.)              NA           --
  Industrial accounts (Feb.)              NA           --

Tourism (Jan.)
  Hotel occupancy rate                70.99%        +3.7%
  Room rate                          $116.52       +10.5%
  Airline Passengers (Jan.)         446,440#       +3.8%#

                                                            % [+ or -]
                                                                  From
                                      Latest     Previous     Previous
REAL ESTATE                           Period       Period       Period

Home mortgages and sales
  Price, repeat sales index            145.7        143.2        +1.8%
  Lending (millions)                  $793.4       $714.4       +10.0%
  No. of home sales                    3,324        2,979       +10.4%
  Median home sale price (Mar.)     $615,000     $591,000        +4.1%

Single-family resales
  Closed escrows (Mar.)                  961          610       +57.5%
  New listings (Mar.)                  1,720        1,505       +14.3%
  Active listings (Mar.)               3,474        3,332        +4.3%

Condominium resales
  Closed escrows (Mar.)                  361          258       +39.9%
  New listings (Mar.)                    654          545       +20.0%
  Active listings (Mar.)               1,242        1,240        +0.2%

Apartment occupancy rate               96.2%        95.6%           NA
  (1st Qtr.)
Apartment rents (1st Qtr.)            $1,468       $1,442        +1.8%

Office vacancy rates (1st Qtr.)
  East Valley                           5.0%         4.9%          N/A
  Central Valley                        5.3%         5.3%          N/A
  West Valley                           9.2%         9.6%          N/A
  Conejo Valley                         7.2%         6.8%          N/A
  Santa Clarita Valley                 11.0%        10.9%          N/A
  Valley overall                        7.3%         7.3%          N/A

Industrial vacancy rates
  (1st Qtr.)
  East Valley                            N/A          N/A          N/A
  Central Valley                         N/A          N/A          N/A
  West Valley                            N/A          N/A          N/A
  Conejo Valley                          N/A          N/A          N/A
  Valley overall                        2.5%         2.7%          N/A

                                               % [+ or -]
                                        Year         From
REAL ESTATE                              Ago     Year Ago

Home mortgages and sales
  Price, repeat sales index            129.7         +11%
  Lending (millions)                  $572.4       +27.9%
  No. of home sales                    2,707       +18.6%
  Median home sale price (Mar.)     $525,000        +17.%

Single-family resales
  Closed escrows (Mar.)                1,127       -14.7%
  New listings (Mar.)                  1,337       +28.6%
  Active listings (Mar.)               1,545      +124.9%

Condominium resales
  Closed escrows (Mar.)                  493       -26.8%
  New listings (Mar.)                    464       +40.9%
  Active listings (Mar.)                 398      +212.1%

Apartment occupancy rate               95.2%           NA
  (1st Qtr.)
Apartment rents (1st Qtr.)            $1,377        +6.7%

Office vacancy rates (1st Qtr.)
  East Valley                           7.8%          N/A
  Central Valley                        6.4%          N/A
  West Valley                          10.7%          N/A
  Conejo Valley                         6.5%          N/A
  Santa Clarita Valley                  7.2%          N/A
  Valley overall                        7.9%          N/A

Industrial vacancy rates
  (1st Qtr.)
  East Valley                            N/A          N/A
  Central Valley                         N/A          N/A
  West Valley                            N/A          N/A
  Conejo Valley                          N/A          N/A
  Valley overall                        3.9%          N/A