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The following is taken from the 1997 Toy Biz 10-K


Toy Biz, Inc. (the "Company") was incorporated in Delaware on March 18,
1993. The Company designs, markets and distributes in the United States and
internationally new and traditional toys in the boys', s', preschool,
activity and electronic toy categories, based on popular entertainment
properties, consumer brand names and proprietary designs. The Company's products
are distributed to a number of general and specialty merchandisers and
distributors, principally in the United States and around the world.

For purposes of this Form 10-K Annual Report, the "Company" includes,
unless the context otherwise requires, the Company, its subsidiaries and their
respective predecessors. The "Predecessor Company" means Toy Biz, Inc., a
Delaware corporation incorporated in 1990 and subsequently renamed Zib Inc., and
its foreign sales affiliate, Toy Biz International Ltd., a Hong Kong
corporation. The Company's principal executive offices are located at 685 Third
Avenue, New York, New York 10017 and its telephone number is (212) 588-5100.

Is this Toy Biz International, an affiliate of Perlmutter and Arad's Toy Biz in 1997 now an affiliate of Jeff Hsieh's Toy Biz Worldwide? Doesn't this seem a bit strange?

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