Bear, Stearns International Limited Hires Daniel Cunliffe to Cover European Mechanical Engineering.

LONDON, England -- Bear, Stearns International Limited (BSIL) is pleased to announce that Daniel Cunliffe has joined the European Equity Research team to cover the European Mechanical Engineering sector. Mr. Cunliffe will be reporting to Roger Hirst, Head of European Equity Research.

Commenting on the hire, Mr. Hirst said, "I am very excited that Daniel is joining our team in London. This is a new area of coverage for us and I believe our clients will benefit greatly from Daniel's expertise. He has a first-rate reputation and is well positioned to leverage our existing coverage of the North American machinery industry."

Prior to joining BSIL, Mr. Cunliffe spent six years with Morgan Stanley as their Capital Goods analyst for Pan-European Mechanical/Industrial Engineering companies, where he was named to Institutional Investor's All-Europe Research Team. Prior to Morgan Stanley, he was the Pan-European Industrial analyst for Hoare Govett.

Bear, Stearns International Limited is a wholly owned subsidiary of The Bear Stearns Companies Inc. (NYSE: BSC) BSIL currently employs 900 staff in London who serve corporations, institutions, partnerships and governmental entities in the United Kingdom, Europe and the Middle East. BSIL's capabilities include investment banking, institutional equities and fixed income sales, trading and research, derivative, financial futures, foreign exchange, private client services and global clearing.