PLACES THAT SUPPORT, OPPOSE DEVELOPMENT

Areas with regulatory environments that are supportive of or hostile to development. Based on a survey completed in December, 1989, of the values and opinions of 330 Southern California real estate industry executives. Respondents included brokers, developers, lenders and other professionals involved in residential and commercial markets. The executives primarily represented companies with asset values between $1 million and $1 billion.

Supportive Hostile Supportive Bakersfield 35% 0% Palm Springs 18% Canyon Country 12 2 N. San Diego Co. 14 Century City 2 15 S. San Diego Co. 8 Conejo Valley 5 9 S. Fernando Valley 4 Downtown L.A. 11 20 San Luis Obispo 4 Inland Empire 72 1 Santa Barbara 0 Las Vegas 53 0 Santa Monica 0 LAX Area 5 5 Simi Valley 10 Long Beach 32 2 South Bay Cities 5 Mid-Wilshire 5 9 Ventura 11 Orange Co. (North) 7 13 Warner Center 4 Orange Co. (South) 8 22 West Los Angeles 1 Oxnard 30 3 Westwood 1

Hostile Bakersfield 2% Canyon Country 17 Century City 13 Conejo Valley 8 Downtown L.A. 10 Inland Empire 51 Las Vegas 57 LAX Area 6 Long Beach 5 Mid-Wilshire 22 Orange Co. (North) 4 Orange Co. (South) 33 Oxnard 36

SOURCE: Arthur Andersen & Co.