Christopher V. Bonbright Expert Commercial Real Estate Broker

1. Graduate of Stanford University with Honors & Distinction with a BA in Economics 1982 • 22 years practicing commercial broker and property owner in the Hollywood area • CEO and Principal of Market Leading Firm Ramsey-Shilling Commercial Real Estate Services, Inc. • Civic & Community Leader including: Christopher V. Bonbright Expert Commercial Real Estate Broker

2. Chairman, Beverly Hills Architectural Commission • President of the Board of Directors, Institute of Cinema & Television Production • Member, Board of Directors, Hollywood Entertainment District Property Owners Association Christopher V. Bonbright Expert Commercial Real Estate Broker • Graduate of Stanford University with Honors & Distinction with a BA in Economics 1982 • 22 years practicing commercial broker and property owner in the Hollywood area • CEO and Principal of Market Leading FirmRamsey-Shiling Commercial Real Estate Services, Inc. • Civic & Community Leader including:

3. Christopher V. Bonbright Expert Commercial Real Estate Broker Received Prestigious 2005 Los Angeles Business Journal Real Estate Award for Civic and Business Contribution to Hollywood Renaissance.

4. Christopher V. Bonbright Expert Commercial Real Estate Broker

5. Christopher V. Bonbright Expert Commercial Real Estate Broker

6. Christopher V. Bonbright Expert Commercial Real Estate Broker

7. Christopher V. Bonbright Expert Commercial Real Estate Broker

8. Christopher V. Bonbright Expert Commercial Real Estate Broker

9. Opinion of MarketRental Value & Sale Value Christopher V. Bonbright 956 Seward St. Los Angeles, California

10. Property Information Property Location: 956 Seward Street, Hollywood, CA Property Type: Two Story Office Building Purpose of Opinion of Value : Fair Market Value Property Right Valued: Fee Simple Date of Value: December 10, 2002 Land Area: 36,870 sf. Zoning: CM-2 Improvements: Approximately 30,030 sq equally divided between two floors Coverage: 41%

11. Property Information Floors: Two Elevator: Yes Condition: Good Basic Construction: Wood Frame Year Built: 1955, (remodeled in 1980’s) Monthly Income: $28,000, NNN Lease Term: Terminates July 31, 2004 Parking: 60 cars (this take into consideration giving adjacent property the exclusive use of 7 cars along the front southern portion of the parking lot)

12. Comparable Lease Rates for 2004 The estimated Fair Market Rental Value for 956 Seward Street as of July 2004 is $2.00 per square foot, NNN

13. Comparable Lease Rates for 2004 * Average Price per square foot is $2.16 not including Subject Property

14. Comparable Lease Rates for 2004

15. Projected Lease Price per Square Foot The estimated Fair Market Rental Value for 956 Seward Street as of July 2009 is $3.00 per square foot, NNN

16. Projected Lease Price per Square Foot * Average Price per square foot is $2.85 as of September 2007 not including Subject Property **Although the average in 2007 is $2.85 projecting forward to 2009 at 2.5% growth per year brings the market rent to $3.00

17. Projected Lease Price per Square Foot

18. Comparable Sales Analysis Fair Market Sale Value as of December 2002 is $4,350,000

19. Comparable Sales Analysis * Average Price per square foot is $162.00 not including Subject Property

20. Comparable Sales Analysis

21. Similar entertainment use • Net Leased • 6.85 Cap Rate • Corresponding value for 956 based on Cap Rate $4,941,176 • Close by 1143-1147 N. Vine Street

22. Similar entertainment use • Close by 1400 N. Cahuenga Blvd.

23. Close by • Similar market 1536 N. Highland Ave.

24. Close by • Similar market • Entertainment Industry 1741 N. Ivar Ave.

25. Close by • Similar Market 6824 Melrose Ave.

26. Very Nearby • Similar use and type 816 Seward St.