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2007 SUMMER SPENDING SURVEY

2007 SUMMER SPENDING SURVEY. Conducted by Prince & Associates May 2007. RUSS ALAN PRINCE. President, Prince & Associates, Inc. Consultant to financial institutions and high-end financial advisors and lawyers targeting the ultra-affluent Institutional clients include:

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2007 SUMMER SPENDING SURVEY

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  1. 2007 SUMMER SPENDING SURVEY Conducted by Prince & Associates May 2007

  2. RUSS ALAN PRINCE • President, Prince & Associates, Inc. • Consultant to financial institutions and high-end financial advisors and lawyers • targeting the ultra-affluent • Institutional clients include: • AIG, American Express, Bank of New York, Chase, Citigroup, • Bear Stearns, Goldman Sachs, Merrill Lynch and Morgan Stanley • Contributor to Institutional Investor • Author of over 35 books focused on wealth management for the ultra-affluent • Regularly quoted by Wall Street Journal as expert on high-net worth individuals

  3. SURVEY PARTICIPANTS • Representative Sample of high net worth individuals obtained through lawyers and financial advisors • Survey conducted by telephone and in-person interviews • 198 individuals were surveyed, each with a Net Worth of $10 million +

  4. SURVEY HIGHLIGHTS • Survey participants plan to spend an average of $622,202 on luxury goods and services across 17 different categories during Summer 2007. • Spending across all categories will climb by 56% over 2005, the last time the Summer Spending survey was conducted. • Among the highest growth categories projected for elite spending are Electronics (up 121% to $31,000 spending over the summer), Apparel and Accessories (112% increase to $34,000), Luxury Resorts (78% to $41,000) and Jewelry and Watches (49% gain to $94,000). • According to Russ Prince of Prince & Associates, “The Super Wealthy are not impacted by external influences such as gas prices, job outlook and mortgage rate increases.” • Some other highlights: 48% plan to take a cruise, spending $92,000; 95% will stay at Luxury Hotels (separate from Resorts), spending $48,000; 68% will go to Spas, spending $61,000; 26% will take Experiential Trips, spending $103,000; 16% will rent Villas, spending $106,000, 45% will redecorate, spending $129,000; 85% will purchase Wines and Spirits for either Entertaining or Personal Consumption, spending $41,000, 11% will rent yachts, spending $384,000.

  5. SURVEY RESPONSES 2007 Planned spending v. 2005 Actual Spending In descending order by $ change N= 198, 2007 N= 304, 2005

  6. SURVEY RESPONSES 2007 Planned spending v. 2005 Actual Spending In descending order by % change N= 198, 2007 N= 304, 2005

  7. TRAVEL RELATED SPENDING 2007 Planned spending v. 2005 Actual Spending In descending order by % change N= 198, 2007 N= 304, 2005

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