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                                    EXHIBIT 10.15

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WELLS FARGO BANK                                                  LOAN AGREEMENT
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    This Loan Agreement (this "Agreement") is entered into by and between
COASTCAST CORPORATION ("Borrower") and WELLS FARGO BANK, NATIONAL ASSOCIATION
("Bank") and sets forth the terms and conditions which govern all Borrower's
commercial credit accommodations from Bank, whether now existing or hereafter
granted (each a "Credit" and collectively, "Credits"), which terms and
conditions are in addition to those set forth in any other contract, instrument
or document (collectively with this Agreement, the "Loan Documents") required by
this Agreement or heretofore or at any time hereafter delivered to Bank in
connection with any Credit.

I.  REPRESENTATIONS AND WARRANTIES.  Borrower makes the following
representations and warranties to Bank, which representations and warranties
shall be true as of the date hereof and on the date of each extension of credit
under each Credit with the same effect as though made on each such date:

    (a)  LEGAL STATUS.  Borrower is a corporation, duly organized and existing
and in good standing under the laws of the State of California, and is qualified
or licensed to do business in all jurisdictions in which such qualification or
licensing is required or in which the failure to be qualified or licensed could
have a material adverse effect on Borrower.

    (b)  AUTHORIZATION AND VALIDITY.  Each of the Loan Documents has been duly
authorized, and upon its execution and delivery to Bank will constitute a legal,
valid and binding obligation of Borrower or the party which executes the same,
enforceable in accordance with Its respective terms.

    (c)  NO VIOLATION.  The execution, delivery and performance by Borrower of
each of the Loan Documents do not violate any provision of law or regulation, or
contravene any provision of Borrower's Articles of Incorporation or By-Laws, or
result in any breach of or default under any agreement, indenture or other
instrument to which Borrower is a party or by which Borrower may be bound.

    (d)  NO LITIGATION.  There are no pending, or to the best of Borrower's
knowledge threatened, actions, claims, investigations, suits or proceedings by
or before any governmental authority, arbitrator, court or administrative agency
which could have a material adverse effect on the financial condition or
operation of Borrower except as disclosed by Borrower to Bank in writing prior
to the date hereof.

    (e)  FINANCIAL STATEMENTS.  The most recent annual financial statement of
Borrower, and all interim financial statements delivered to Bank since the date
of said annual financial statement, true copies of which have been delivered by
Borrower to Bank prior to the date hereof, are complete and correct. present
fairly the financial condition of Borrower and disclose all liabilities of
Borrower, and have been prepared in accordance with generally accepted
accounting principles.  Since the dates of such financial statements there has
been no material adverse change in the financial condition of Borrower, nor has
Borrower mortgaged, pledged, granted a security interest in or otherwise
encumbered any of its assets or properties except in favor of Bank or as
otherwise permitted by Bank in writing.

    (f)  TAX RETURNS.  Borrower has no knowledge of any pending assessments or
adjustments of its income tax payable with respect to any year except as
disclosed by Borrower to Bank in writing prior to the date hereof.

II. ADDITIONAL TERMS.

    (a)  CONDITIONS PRECEDENT.  The obligation of Bank to grant any Credit is
subject to the condition that Bank shall have received all contracts,
instruments and documents, duly executed where applicable, deemed necessary by
Bank to evidence such Credit and all terms and conditions applicable thereto,
all of which shall be in form and substance satisfactory to Bank.

    (b)  APPLICATION OF PAYMENTS.  Each payment made on each Credit shall be
applied first, to any interest then due, second, to any fees and charges then
due, and third, to the outstanding principal balance thereof.

III. COVENANTS.  So long as any Credit remains available or any amounts under
any Credit remain outstanding, Borrower shall, unless Bank otherwise consents
in
writing:

    (a)  INSURANCE.  Maintain and keep in force insurance of the types and in
amounts customarily carried in lines of business similar to that of Borrower,
including but not limited to fire, extended coverage, public liability, property
damage, flood and workers' compensation, carried with companies and in amounts
satisfactory to Bank. and deliver to Bank from time to time at Bank's request
schedules setting forth all insurance then in effect.

    (b)  COMPLIANCE.  Preserve and maintain all licenses, permits, governmental
approvals, rights, privileges and franchises necessary for the conduct of its
business; and comply with the requirements of all laws, rules, regulations and
orders of any governmental authority applicable to Borrower and/or its business,
including without limitation, the Employee Retirement Income Security Act of
1974, as amended or recodified from time to time, and all state or
federal environmental, hazardous waste, health and safety statutes, and any
rules or regulations adopted pursuant thereto, which govern or affect any
operations and/or properties of Borrower.

Loan Agreement (08/96), Page 1

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    (c)  OTHER INDEBTEDNESS. Not create, incur, assume or permit to exist any
Indebtedness or other liabilities, whether secured or unsecured, matured or
unmatured, liquidated or unliquidated, joint or several, direct or contingent
(including any contingent liability under any guaranty of the obligations of any
person or entity), except (i) the liabilities of Borrower to Bank, (ii) trade
debt incurred by Borrower in the normal course of its business, and (iii) any
other liabilities of Borrower existing as of, and disclosed to Bank in writing
prior to, the date hereof.

    (d)  MERGER; CONSOLIDATION; TRANSFER OF ASSETS.  Not merge into or
consolidate with any other entity; nor make any substantial change in the nature
of Borrower's business as conducted as of the data hereof; nor acquire all or
substantially all of the assets of any other person or entity; nor sell, lease,
transfer or otherwise dispose of all or a substantial or material portion of
Borrower's assets except in the ordinary course of its business.

    (e)  PLEDGE OF ASSETS.  Not mortgage, pledge. grant or permit to exist a
security interest in, or lien upon, all or any portion of Borrower's assets now
owned or hereafter acquired, except in favor of Bank and except any of the
foregoing existing as of, and disclosed to Bank in writing prior to, the date
hereof.

    (f)  FINANCIAL STATEMENTS.  Provide to Bank all of the following, in form
and detail satisfactory to Bank, together with such current financial and other
information as Bank from time to time may reasonably request:

        (i)  As soon as available, but in no event later than 90 days after
and as of the end of each fiscal year, an audited financial statement of
Borrower, prepared by an independent certified public accountant acceptable
to Bank, to include a balance sheet, income statement and statement of cash
flow, together with all supporting schedules and footnotes.

        (ii) As soon as available, but in no event later than 45 days after
and as of the end of each fiscal quarter, a financial statement of Borrower,
prepared by Borrower and certified as correct by an officer of Borrower
authorized to borrow under the most current Corporate Borrowing Resolution
delivered by Borrower to Bank, to include a balance sheet and income
statement, together with all supporting schedules and footnotes.

    (g)  FINANCIAL CONDITION.  Maintain Borrower's financial condition as
follows using generally accepted accounting principles consistently applied and
used consistently with prior practices, except to the extent modified by the
following definitions:

        (i)  Tangible Net Worth not at any time less than $46,000,000.00,
with "Tangible Net Worth" defined as the aggregate of total stockholders'
equity plus subordinated debt less any intangible assets.

        (ii) Total Liabilities divided by Tangible Net Worth not at any time
greater than 0.60 to 1.0, with "Total Liabilities" defined as the aggregate
of current liabilities and non-current liabilities less subordinated debt,
and with "Tangible Net Worth" as defined above.

       (iii) Quick Ratio not at any time less than 2.00 to 1.0. with "Quick
Ratio" defined as the aggregate of unrestricted cash, unrestricted marketable
securities and receivables convertible into cash divided by total current
liabilities.

        (iv) Net income after taxes not less than $5,000,000.00 on an annual
basis, determined as of each fiscal year end, and pre-tax profit not less
than $1,000,000.00 on a quarterly basis, determined as of each fiscal quarter
end.

IV. DEFAULT; REMEDIES.

    (a)  EVENTS OF DEFAULT.  The occurrence of any of the following shall
constitute an "Event of Default" under this Agreement:

        (i)  The failure to pay any principal, interest, fees or other
charges when due under any of the Loan Documents.

        (ii) Any representation or warranty hereunder or under any other Loan
Document shall prove to be incorrect, false or misleading in any material
respect when made.

       (iii) Any violation or breach of any term or condition of this
Agreement or any other of the Loan Documents.

        (iv) Any default in the payment or performance of any obligation, or
any defined event of default, under any provisions of any contract,
instrument or document pursuant to which Borrower or any guarantor hereunder
has incurred debt or any other liability of any kind to any person or entity,
including Bank.

        (v)  The filing of a petition by or against Borrower or any guarantor
hereunder under any provisions of the Bankruptcy Reform Act, Title 11 of the
United States Code, as amended or recodified from time to time, or under any
similar of other law relating to bankruptcy. insolvency, reorganization or
other relief for debtors; the appointment of a receiver, trustee, custodian
or liquidator of or for any part of the assets or property of Borrower or any
such guarantor; Borrower or any such guarantor becomes insolvent, makes a
general assignment for the benefit of creditors or is generally not paying
its debts as they become due; or any attachment or like levy on any property
of Borrower or any such guarantor.

       (vi) Any material adverse change, as determined solely by Bank, in the
financial condition of Borrower.

Loan Agreement (08/96), Page 2

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        (vii) The death or incapacity of any individual guarantor hereunder,
or the dissolution or liquidation of Borrower or of any guarantor hereunder
which Is a corporation, partnership or other type of entity.

       (viii) Any change in ownership during the term hereof of an aggregate
of 25% or more of the common stock of Borrower.

    (b)  REMEDIES.  Upon the occurrence of any Event of Default: (i) the entire
balance of principal, interest, fees and charges on each Credit shall, at Bank's
option, become Immediately due and payable in full without presentment, demand,
protest or notice of dishonor, all of which are expressly waived by Borrower;
(ii) the obligation, if any, of Bank to extend any further credit to Borrower
under any Credit shall immediately cease and terminate; and (iii) Bank shall
have all rights, powers and remedies available under each of the Loan Documents,
or accorded by law, including without limitation the right to resort to any
security for any Credit.  All rights, powers and remedies of Bank shall be
cumulative.

V.  MISCELLANEOUS.

    (a)  NO WAIVER.  No delay, failure or discontinuance of Bank in exercising
any right, power or remedy under any of the Loan Documents shall affect or
operate as a waiver of such right, power or remedy, nor shall any single or
partial exercise of any such right, power or remedy preclude, waive or otherwise
affect any other or further exercise thereof or the exercise of any other right,
power or remedy.  Any waiver, permit, consent or approval of any kind by Bank of
any breach of or default under this Agreement. or any such waiver of any
provisions or conditions hereof, must be in writing and shall be effective only
to the extent set forth in writing.

    (b)  NOTICES.  All notices, requests and demands required under this
Agreement must be in writing, addressed to the applicable party at its address
specified below or to such other address as any party may designate by written
notice to each other party, and shall be deemed to have been given or made as
follows: (i) if personally delivered, upon delivery; (ii) if sent by mail, upon
the earlier of the date of receipt or 3 days after deposit in the U.S. mail,
first class and postage prepaid; and (iii) if sent by telecopy, upon receipt.

    (c)  COSTS, EXPENSES AND ATTORNEYS' FEES.  Borrower shall pay to Bank
immediately upon demand the full amount of all payments, advances, charges,
costs and expenses, including reasonable attorneys' fees (to include outside
counsel fees and all allocated costs of Bank's in-house counsel), expended or
incurred by Bank in connection with (i) the negotiation and preparation of this
Agreement and the other Loan Documents, and Bank's continued administration of
each Credit, (ii) the enforcement of Bank's rights and/or the collection of any
amounts which become due to Bank under any of the Loan Documents. and (iii) the
prosecution or defense of any action in any way related to any of the Loan
Documents, including without limitation, any action for declaratory relief,
whether incurred at the trial or appellate level, in an arbitration proceeding
or otherwise, and including any of the foregoing incurred in connection with any
bankruptcy proceeding (including without limitation, any adversary proceeding,
contested matter or motion brought by Bank or any other person) relating to any
Borrower or any other person or entity.

    (d)  SUCCESSORS: ASSIGNMENT.  This Agreement shall be binding upon and
inure to the benefit of the heirs, executors, administrators, legal
representatives, successors and assigns of the parties; provided however, that
Borrower may not assign or transfer its interests or rights hereunder without
Bank's prior written consent.  Bank reserves the right to sell, assign,
transfer, negotiate or grant participations in all or any part of, or any
interest in, Bank's rights and benefits under each of the Loan Documents.  In
connection therewith Bank may disclose all documents and information which Bank
now has or may hereafter acquire relating to any Credit,  Borrower or Its
business, any guarantor of any Credit or the business of any such guarantor, or
any collateral for any Credit.

    (e)  CONTROLLING AGREEMENT; AMENDMENT.  In the event of any direct conflict
between any provision of this Agreement and any provision of any other Loan
Document, the terms of this Agreement shall control.  This Agreement may be
amended or modified only in writing signed by Bank and Borrower.

    (f)  NO THIRD PARTY BENEFICIARIES.  This Agreement is made and entered into
for the sole protection and benefit of the parties hereto and their respective
permitted successors and assigns. and no other person or entity shall be a
third party beneficiary of, or have any direct or indirect cause of action or
claim in connection with, this Agreement or any other Loan Document to which it
is not a party.

    (g)  SEVERABILITY OF PROVISIONS.  If any provision of this Agreement shall
be held to be prohibited by or invalid under applicable law, such provision
shall be ineffective only to the extent of such prohibition or invalidity,
without invalidating the remainder of such provision or any remaining provisions
of this Agreement.

    (h)  GOVERNING LAW.  This Agreement shall be governed by, and construed in
accordance with the laws of the state of California.

        (i)  CANCELLATION OF PRIOR LOAN AGREEMENTS.  This Agreement cancels
and supersedes all prior loan agreements between Borrower and Bank relating
to any Credit.

VI. ARBITRATION.

    (a)  ARBITRATION.  Upon the demand of any party, any Dispute shall be
resolved by binding arbitration (except as set forth in (e) below) in accordance
with the terms of this Agreement.  A "Dispute" shall mean any action, dispute,
claim or controversy of any kind, whether in contract or tort, statutory or
common low, legal or equitable, now existing or hereafter arising under or in
connection with, or in any way pertaining to, any of the Loan

Loan Agreement (08/96), Page 3

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Documents, or any past, present or future extensions of credit and other
activities, transactions or obligations of any kind related directly or
indirectly to any of the Loan Documents, including without limitation, any of
the foregoing arising in connection with the exercise of any self-help,
ancillary or other remedies pursuant to any of the Loan Documents.  Any party
may by summary proceedings bring an action in court to compel arbitration of a
Dispute.  Any party who fails or refuses to submit to arbitration following a
lawful demand by any other party shall bear all costs and expenses incurred by
such other party in compelling arbitration of any Dispute.

    (b) GOVERNING RULES.  Arbitration proceedings shall be administered by the
American Arbitration Association ("AAA") or such other administrator as the
parties shall mutually agree upon in accordance with the AAA Commercial
Arbitration Rules.  All Disputes submitted to arbitration shall be resolved in
accordance with the Federal Arbitration Act (Title 9 of the United States Code),
notwithstanding any conflicting choice of law provision in any of the Loan
Documents.  The arbitration shall be conducted at a location in California
selected by the AAA or other administrator.  If there is any inconsistency
between the terms hereof and any such rules, the terms and procedures set forth
herein shall control.  All statutes of limitation applicable to any Dispute
shall apply to any arbitration proceeding.  All discovery activities shall be
expressly limited to matters directly relevant to the Dispute being arbitrated.
Judgment upon any award rendered in an arbitration may be entered in any court
having jurisdiction; provided however, that nothing contained herein shall be
deemed to be a waiver by any party that is a bank of the protections afforded
to it under 12 U.S.C. Section 91 or any similar applicable state law.

    (c)  NO WAIVER: PROVISIONAL REMEDIES, SELF-HELP AND FORECLOSURE.  No
provision hereof shall limit the right of any party to exercise self-help
remedies such as setoff, foreclosure against or sale of any real or personal
property collateral or security, or to obtain provisional or ancillary remedies,
including without limitation injunctive relief, sequestration, attachment,
garnishment or the appointment of a receiver, from a court of competent
jurisdiction before, after or during the pendency of any arbitration or other
proceeding.  The exercise of any such remedy shall not waive the right of any
party to compel arbitration or reference hereunder.

    (d)  ARBITRATOR QUALIFICATIONS AND POWERS; AWARDS.  Arbitrators must be
active members of the California State Bar or retired judges of the state or
federal judiciary of California, with expertise in the substantive laws
applicable to the subject matter of the Dispute.  Arbitrators are empowered to
resolve Disputes by summary rulings in response to motions filed prior to the
final arbitration hearing.  Arbitrators (i) shall resolve all Disputes in
accordance with the substantive law of the state of California. (ii) may grant
any remedy or relief that a court of the state of California could order or
grant within the scope hereof and such ancillary relief as is necessary to make
effective any award, and (iii) shall have the power to award recovery of all
costs and fees, to impose sanctions and to take such other actions as they deem
necessary to the same extent a judge could pursuant to the Federal Rules of
Civil Procedure, the California Rules of Civil Procedure or other applicable
law.  Any Dispute in which the amount in controversy is $5,000,000 or less shall
be decided by a single arbitrator who shall not render an award of greater than
$5,000,000 (including damages, costs, fees and expenses).  By submission to a
single arbitrator, each party expressly waives any right or claim to recover
more than $5,000,000. Any Dispute in which the amount in controversy exceeds
$5,000,000 shall be decided by majority vote of a panel of three arbitrators;
provided however, that all three arbitrators must actively participate in all
hearings and deliberations.

    (E)  JUDICIAL REVIEW.  Notwithstanding anything herein to the contrary,
in any arbitration in which the amount in controversy exceeds $25,000,000,
the arbitrators shall be required to make specific, written findings of fact
and conclusions of law.  In such arbitrations (A) the arbitrators shall not
have the power to make any award which is not supported by substantial
evidence or which is based on legal error, (B) an award shall not be binding
upon the parties unless the findings of fact are supported by substantial
evidence and the conclusions of law are not erroneous under the substantive
law of the state of California, and (c) the parties shall have in addition to
the grounds referred to in (tie Federal Arbitration Act for vacating,
modifying or correcting an award the right to judicial review of (1) whether
the findings of fact rendered by the arbitrators are supported by substantial
evidence, and (2) whether the conclusions of law are erroneous under the
substantive law of the state of California.  Judgment confirming an award in
such a proceeding may be entered only if a court determines the award is
supported by substantial evidence and not based on legal error under the
substantive law of the state of California.

    (f)  REAL PROPERTY COLLATERAL; JUDICIAL REFERENCE.  Notwithstanding
anything herein to the contrary, no Dispute shall be submitted to arbitration if
the Dispute concerns indebtedness secured directly or indirectly, in whole or in
part, by any real property unless (i) the holder of the mortgage, lien or
security interest specifically elects in writing to proceed with (the
arbitration, or (ii) all parties to the arbitration waive any rights or benefits
that might accrue to them by virtue of the single action rule statute of
California, thereby agreeing that all indebtedness and obligations of the
parties, and all mortgages, liens and security interests securing such
indebtedness and obligations, shall remain fully valid and enforceable.  If any
such Dispute is not submitted to arbitration, the Dispute shall be referred to a
referee in accordance with California Code of Civil Procedure Section 638 et
seq., and this general reference agreement is intended to be specifically
enforceable in accordance with said Section 638.  A referee with the
qualifications required herein for arbitrators shall be selected pursuant to the
AAA's selection procedures.  Judgment upon the decision rendered by a referee
shall be entered in the court in which such proceeding was commenced in
accordance with California Code of Civil Procedure Sections 644 and 645.

    (G)  MISCELLANEOUS.  To the maximum extent practicable, the AAA, the
arbitrators and the parties shall take all action required to conclude any
arbitration proceeding within 180 days of the filing of the Dispute with the
AAA.  No arbitrator or other party to an arbitration proceeding may disclose the
existence, content or results thereof, except for disclosures of information by
a party required in the ordinary course of its business, by applicable law or
regulation, or to the extent necessary to exercise any judicial review rights
set forth herein.  If more than one agreement for arbitration by or between the
parties potentially applies to a Dispute, the arbitration provision most
directly related to the Loan Documents or the subject matter of the Dispute
shall control.  This arbitration provision shall survive termination, amendment
or expiration of any of the Loan Documents or any relationship between the

Loan Agreement (08/96), Page 4

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parties.

    IN WITNESS WHEREOF, Borrower and Bank have executed this Agreement as of
November 1, 1996.

COASTCAST CORPORATION                  WELLS FARGO BANK,
                                         NATIONAL ASSOCIATION


By: /s/ Hans H. Buehler                By:  /s/ Joelle Martin
   --------------------------------       -------------------------------------
    HANS H. BUEHLER
    CHIEF EXECUTIVE OFFICER            Title: /S/ Relationship Manager
                                             ----------------------------------

    Address:  *****************        Address: 111 West Ocean Blvd Suite 300
              *****************        Long Beach, CA 90802

              3025 East Victoria St.
              Rancho Dominguez, CA 90221


Loan Agreement (08/96), Page 5