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Executives tell SCU that Silicon Valley business conditions are at year's peak

SANTA CLARA, Calif. - Oct 29, 2003 – Business conditions in Silicon Valley are continuing a steady upward climb that began last spring, according to the latest monthly Santa Clara University Business Index released today by SCU’s Leavey School of Business.

Since March 2003, the monthly survey has reported a consistent increase in the number of managers and executives in Silicon Valley who say current business conditions for their companies have improved over the past six months.

The latest index shows that “the Silicon Valley business environment has seen pronounced improvement since March,” said Kris Mitchener, SCU assistant professor of economics. “That’s consistent with national trends.”

Mitchener said the latest index also shows that Silicon Valley managers report job growth, and see business improving for their customers as well.

Responding to a special post-election question, the Silicon Valley business leaders also said they believed that California governor-elect Arnold Schwarzenegger would keep a campaign promise not to raise taxes, which respondents said would thwart attempts to balance the state budget.

The Santa Clara University Business Index made its public debut a year ago this month. The survey has been tabulating results since February 2002 to affirm its validity and establish trends.

This monthly business indicator, the only one of its kind for the Silicon Valley region, is a composite index that every month tracks business conditions in Silicon Valley companies and their markets, as well as trends in job availability in the region, by polling the region’s executives and managers.

The SCU Business Index asks managers and executives in a wide range of businesses in Silicon Valley to assess their business prospects for the next six months, and in comparison to the past six months, as well as the current and future availability of jobs in their companies. It is managed for the Leavey School of Business by The Survey Company. Complete SCU Business Index results and methodology for October and earlier months, can be found at www.surveycompany.com/SCUBI/SVOutlook.html

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Media: Kris Mitchener is available for comment today, Oct. 29, on this month’s survey results and on business conditions in Silicon Valley.  Call 408-554-5126 to arrange an interview.

About the Santa ClaraUniversityBusiness Index

This monthly business indicator, the only one of its kind for the Silicon Valley region, is a composite index that every month tracks business conditions in Silicon Valley companies and their markets, as well as trends in job availability in the region, by polling the region’s executives and managers.

The SCU Business Index since February 2002 has asked managers and executives in a wide range of businesses in Silicon Valley to assess their business prospects and the current and future availability of jobs in their companies. It is managed for the Leavey School of Business by The Survey Company.

The Santa Clara University Business Index survey polls several hundred MBA alumni, undergraduate business alumni, and several dozen members of its business advisory board who are employed in managerial and executive positions in Silicon Valley companies.

About The Leavey Schoolof Business

The Leavey School of Business at Santa Clara University began in 1926, and was one of the first business schools in the country to receive national accreditation. It undergraduate business program has been recognized as one of the best in California, and it MBA program has been ranked in the nation’s top 20 part-time programs. More than 80 percent of its 1,043 MBA students are working professionals in Silicon Valley. For more information, see http://business.scu.edu.

About Santa Clara University

Santa Clara University, a comprehensive Jesuit, Catholic university located in California's Silicon Valley, offers its 8,060 students rigorous undergraduate curricula in arts and sciences, business, and engineering, plus master's and law degrees. Distinguished nationally by the third-highest graduation rate among all U.S. master's universities, California's oldest higher-education institution demonstrates faith-inspired values of ethics and social justice. More information is on line at www.scu.edu.

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<p>SCU Business Index shows improved business conditions.</p>

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