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O.C. BUSINESS PLUS | ORANGE COUNTY EARNINGS

Capital Pacific Holdings Inc.

July 16, 1999

The Newport Beach real estate investment and development company reported that net income for the first quarter rose to $820,000, or 6 cents a share, from $340,000, or 2 cents a share, for the first quarter last year. Revenue for the quarter ended May 31 increased 93% to $72.9 million from $37.7 million.

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