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ORANGE COUNTY EARNINGS

Koll's Revenue Jumps With Sale of Bolsa Chica Lowlands

May 15, 1997

NEWPORT BEACH — Koll Real Estate Group Inc. reported Wednesday that it narrowed its losses in the first quarter, while revenue surged, primarily as a result of the real estate developer's sale of the Bolsa Chica lowlands in February.

The company posted a first-quarter loss of $4.9 million, or 10 cents a share, which included $3.1 million of nonrecurring income, primarily from the settlement of an outstanding contractual claim and the sale of a minority interest in a privately held company. The company lost $7.9 million, or 17 cents a share, for the same three months last year.

Revenue rose to $30.9 million from $2.7 million, as the company sold the Bolsa Chica lowlands for $25 million.

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