Friends and colleagues,

We proudly announce that in 2008 Curtis-Rosenthal, Inc. celebrated 25
years of challenge and growth!

And now, a brief trip down memory lane.......

The year was 1983.

Prices were low ... but interest rates, inflation and unemployment were high.

• Prime Rate 11.00%
• 10-year Treasury Yield 11.85%
• Inflation 7.6%
• Unemployment 9.7%
• Dow Industrial Average 1,027 to 1,287
• Median Household Income $20,885
• Median House Price in LA $112,600

This was the state of the world when two young entrepreneurs left the safety and security of Corporate Banking at Security Pacific National Bank to form Curtis-Rosenthal, Inc., a new venture dedicated to providing high quality real estate appraisal services throughout California.

Now, after twenty five years, a new millenium, three Presidents, two wars, two booming bull markets, two recessions, Y2K, 9-11, the RTC, reality TV, the rise and fall of CMBS and the sudden passing of one of our founders..... Curtis-Rosenthal, Inc. is older, wiser and stronger than ever.

Our team of seasoned professionals has over 150 years of appraisal experience, and we stand ready to Listen, Communicate, Tell the Story and Find Solutions as we begin our next twenty five years.

Thank you to all of our clients and friends. We appreciate all of you and we look forward to a bright future!

Together we can solve your appraisal challenges.

Best Regards,



David Rosenthal, MAI, FRICS
President & CEO
Curtis-Rosenthal, Inc.