Steve Sakwa

STEVE SAKWA joined Merrill Lynch in January 1996 to cover real estate
investment trusts (REITs). Since October 2000, he has served as the
Senior Analyst following this industry, in the global securities
research and economics group and had formerly co-covered REITs at Morgan
Stanley from 1993- 1996. Over the past five years, the Merrill Lynch
REIT Research team has consistently placed first or second in the annual
Institutional Investor survey. Most recently, Mr. Sakwa and the REIT
team placed runner-up in the 2001 Institutional Investor survey. He
earned a BA in Economics from the University of Michigan and an MBA in
Business Administration from New York University’s Stern School of
Business.