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PaineWebber Names Gregory L. Kagay Automotive Parts Analyst

9 May 2000

PaineWebber Names Gregory L. Kagay Automotive Parts Analyst

    NEW YORK, May 9 PaineWebber Incorporated
announced today that Gregory L. Kagay, CFA has joined the firm as senior
automotive parts analyst.  Mr. Kagay is a first vice president and reports to
Michael Culp, director of PaineWebber research.
    "I am delighted that Greg and Joe Phillippi our senior automotive analyst,
have reunited to form PaineWebber's new auto manufactures/auto parts team,"
said Culp. PaineWebber's consumer group also includes: James Dormer, household
products, cosmetics and personal care; Jeffrey Edelman, broadlines retailing;
Sara Farley, e-Commerce; James Goll, consumer special situations; Marc
Greenberg, beverages; Richard Jaffe, softlines retailing; Keith Mills,
lodging; John O'Neil, packaged foods; R.T. Quinn, food and drug retailing; and
Aram Rubinson, hardlines retailing.
    Prior to joining PaineWebber, Mr. Kagay was a senior automotive industry
analyst covering the automotive manufactures and supplier companies at
Schroder & Co.  Before that, Mr. Kagay worked in various research positions
covering both the domestic and European automotive industries at Arnhold and
S. Bleichroeder, McDonald Investments and Lehman Brothers.  Mr. Kagay holds a
B.A. degree from Southern Methodist University and is a Chartered Financial
Analyst.
    Paine Webber Group Inc., together with its subsidiaries, serves the
investment and capital needs of a worldwide client base.  The firm employs
20,008 people in 318 offices.