STEVE T. SAKWA joined Merrill Lynch in January 1996 and is a Senior
Analyst in the Global Securities Research and Economic Group. He covers
the REIT industry and is responsible for the research effort on more
than 65 companies in the sector. Prior to joining Merrill Lynch, Mr.
Sakwa co-covered REITs at Morgan Stanley from 1993-1996. He earned a BA
in Economics from the University of Michigan and an MBA from New York
University’s Stern School of Business.