<TABLE> <S> <C>

<PAGE>
<ARTICLE> 5
<LEGEND>
This schedule contains summary information extracted from the Registrant Company
Balance Sheets for December 31, 1998 and 1999 and Statements of Operations for
the years ended December 31, 1998 and 1999 and is qualified in its entirely by
reference to such financial statements.
</LEGEND>
<CIK>  0000724332
<NAME> PHOENIX ASSOCIATES
<MULTIPLIER> 1,000

<S>                             <C>                     <C>
<PERIOD-TYPE>                   12-MOS                  12-MOS
<FISCAL-YEAR-END>                          DEC-31-1998             DEC-31-1999
<PERIOD-START>                             JAN-01-1998             JAN-01-1999
<PERIOD-END>                               DEC-31-1998             DEC-31-1999
<CASH>                                               0                       0
<SECURITIES>                                         0                       0
<RECEIVABLES>                                       57                     215
<ALLOWANCES>                                         0                       0
<INVENTORY>                                          0                       0
<CURRENT-ASSETS>                                    57                     215
<PP&E>                                               0                       0
<DEPRECIATION>                                       0                       0
<TOTAL-ASSETS>                                   4,413                   4,344
<CURRENT-LIABILITIES>                            3,841                   4,017
<BONDS>                                              0                       0
<PREFERRED-MANDATORY>                                0                       0
<PREFERRED>                                          0                       0
<COMMON>                                             0                       0
<OTHER-SE>                                   (104,993)               (105,238)
<TOTAL-LIABILITY-AND-EQUITY>                     4,413                   4,344
<SALES>                                              0                       0
<TOTAL-REVENUES>                                     0                       0
<CGS>                                                0                       0
<TOTAL-COSTS>                                        0                       0
<OTHER-EXPENSES>                                     0                       0
<LOSS-PROVISION>                                     0                       0
<INTEREST-EXPENSE>                              12,351                  10,866
<INCOME-PRETAX>                               (12,412)                (10,866)
<INCOME-TAX>                                         0                       0
<INCOME-CONTINUING>                           (12,412)                (10,866)
<DISCONTINUED>                                       0                       0
<EXTRAORDINARY>                                    100                       0
<CHANGES>                                            0                       0
<NET-INCOME>                                  (12,312)                (10,866)
<EPS-BASIC>                                       0.00                    0.00
<EPS-DILUTED>                                     0.00                    0.00


</TABLE>