Southwest Water Company Balance Sheet

Balance Sheet FYE: 31-Dec

Assets	6/30/2008	3/31/2008	12/31/2007	9/30/2007
Cash & Short Term Investments	3.88	2.22	2.95	2.42
Receivables - Total	30.18	27.83	34.19	27.38
Inventories - Total	13.66	15.81	17.35	NA
Total Current Assets	64.84	62.69	61.59	41.66
Net Property, Plant & Equipment	449.25	445.11	417.90	421.85
Total Assets	549.80	543.95	516.41	519.74
Liabilities
Accounts Payable	8.10	8.38	30.82	9.69
Debt in Current Liabilities	1.93	1.94	1.94	1.50
Total Current Liabilities	35.61	37.88	46.18	33.83
Long-Term Debt	191.41	181.87	145.35	143.09
Total Liabilities	392.60	385.82	357.22	347.40
Stockholder's Equity
Minority Interest	NA	NA	NA	NA
Preferred Stock	0.46	0.46	0.46	0.46
Common Stock	0.25	0.24	0.24	0.24
Retained Earnings	9.00	11.26	13.34	27.76
Treasury Stock	NA	NA	NA	NA
Total Stockholders' Equity	157.20	158.13	159.19	172.34
Total Liabilities and Stockholders' Equity	549.80	543.95	516.41	519.74