SK1/MAB/sid 2/17/2005

BEFORE THE PUBLIC UTILITIES COMMISSION OF THE STATE OF CALIFORNIA

Application of Riley Property Holdings LLC, Riley Mezzanine Corp., CB Riley Investor LLC, Cerberus Partners, L.P., Cerberus Associates, L.L.C., LNR Property Corporation, and Valencia Water Company (U342-W) for authorization of Riley Property Holdings LLC, Riley Mezzanine Corp., CB Riley Investor LLC, Cerberus Partners, L.P., and Cerberus Associates, L.L.C. to acquire indirect control over Valencia Water Company.

Application 04-12-016 (Filed December 16, 2004)

ASSIGNED COMMISSIONER'S AND

ADMINISTRATIVE LAW JUDGE'S RULING

REQUIRING PARTIES TO FILE AND

SERVE RESPONSES

Summary

In this ruling, we require the parties to submit additional information to enable us to determine whether evidentiary hearings will be required.