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ITEM 7A.    QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

     As of December 31, 2000, the Company’s exposure to market risk for a change in interest rates related solely to debt outstanding under its $140,000 line of credit (the “Line”).  Debt outstanding under the Line totaled $103,800 at December 31, 2000.  The Line, which expires in February 2002, bears interest generally at rates from 30-day LIBOR plus 1.45% to 30-day LIBOR plus 1.70%, based, in part, on the Company’s level of total indebtedness.  The Company’s current interest rate is 30-day LIBOR plus 1.45%.  During 1999, the Company entered into an interest rate cap agreement to eliminate the exposure to increases in 30-day LIBOR over 7.50%, and therefore from its exposure to interest rate increases over 8.95% under the Line on a principal balance of $25,000 for the period of March 23, 1999 through March 25, 2002.  In addition, on December 18, 2000, the Company completed an interest rate swap on $50,000 of its outstanding variable rate debt under the Line.  The agreement is a contract to exchange floating rate interest payments for fixed interest payments periodically over the life of the agreement without the exchange of the underlying notional amounts.  This transaction effectively replaces the Company’s variable interest rate based on 30-day LIBOR on $50,000 of the Line with a fixed interest rate of 5.915% until December 18, 2002.  The Line’s interest rate spread is currently 1.45%, equating to an effective fixed rate of 7.365% on $50,000 until December 18, 2002.  The differential paid or received on interest rate agreements is recognized as an adjustment to interest expense over the life of the swap.  The weighted average interest rate on the Line for 2000 was 7.76%. (See Note 5 to the consolidated financial statements.)  At December 31, 2000, the Company had $53,800 of variable rate debt outstanding under the Line that was exposed to fluctuations in the market rate of interest.