PALO ALTO, CA-The fund will generally be Essex Property Trust's exclusive vehicle for new investments until the Fund's committed capital has been invested or committed or, if earlier, Dec. 31, 2003.

LONDON-A new survey from Knight Frank shows that US purchasers have become reluctant to commit to residential purchases in London. From 12% of the market last year, North Americans now only account for 5% of the market.

ALBANY-As part of his administration's push to acquire land in the Neversink River area in Sullivan County, New York Governor George Pataki proposes to spend $2.05 million to purchase almost 1,700 acres to be used for open space there.

NORTH ANDOVER, MA-Lucent Technologies, the struggling manufacturer of telecommunications equipment, will layoff an additional 20,000 people. The company, which just sold its optical-fiber manufacturing business, employs 7,600 in this state.