Bear Stearns Capital Trust II Announces Cash Distribution.

Business Editors

NEW YORK--(BUSINESS WIRE)--Sept. 19, 2003

Bear Stearns Capital Trust II, a special purpose trust controlled by The Bear Stearns Companies Inc. (NYSE: BSC), today announced its regular quarterly cash distribution on its outstanding shares of 7.5% Trust Issued Preferred Securities.

Bear Stearns Capital Trust II announced a cash distribution of 46.875 cents per share on the outstanding shares of its 7.5% Trust Issued Preferred Securities payable October 15, 2003 to holders of record on October 1, 2003.

Bear Stearns Capital Trust II is a statutory business trust created under Delaware law. All of its common securities are owned by The Bear Stearns Companies Inc. Bear Stearns Capital Trust II exists solely to issue and sell its common and preferred securities, using the proceeds to acquire debentures issued by The Bear Stearns Companies Inc.

Founded in 1923, The Bear Stearns Companies Inc. (NYSE: BSC) is the parent company of Bear, Stearns & Co. Inc., a leading investment banking and securities trading and brokerage firm. With approximately $34.4 billion in total capital, Bear Stearns serves governments, corporations, institutions and individuals worldwide. The company's business includes corporate finance and mergers and acquisitions, institutional equities and fixed income sales, trading and research, private client services, derivatives, foreign exchange and futures sales and trading, asset management and custody services. Through Bear, Stearns Securities Corp., it offers financing, securities lending, clearing and technology solutions to hedge funds, broker-dealers and investment advisors. Headquartered in New York City, the company has approximately 10,500 employees worldwide. For additional information about Bear Stearns, please visit the firm's Web site at http://www.bearstearns.com.