Hayley W. Kissel

HAYLEY W. KISSEL is the Director of Merrill Lynch’s Global Securities
Research and Economics Division, a position she obtained in June 1996.
At Merrill, she is responsible for providing investment research on the
leisure products and toy industries. Prior to joining Merrill, Ms.
Kissel covered emerging growth stocks, particularly small capitalization
leisure and specialty retailing companies as an Analyst at Smith Barney.
Her career began as a Junior Analyst in semiconductors in 1991 after she
received an MBA at Columbia Business School. Ms. Kissel is also a former
world-class competitive skier. Among her many honors, Ms. Kissel was the
World Mogul Champion in 1983, National Mogul Champion in 1987, a member
of the U.S. Freestyle.