Bear Stearns Continues Expansion of Private Client Services; Four Brokers to Join in Dallas, Los Angeles, Chicago, and Seattle Areas.

NEW YORK -- Bear, Stearns & Co. Inc. today announced that four leading account executives have joined the firm, further underscoring Bear Stearns' commitment to grow its Private Client Services division by attracting the most experienced and talented brokers in the industry.

Bill Fry in Dallas, David Mizrahi in Los Angeles, Bob Venzor in Chicago, and Chad Reibman in the Seattle area are the most recent additions to the Private Client Services group, which has hired over 50 successful brokers in the past year.

"We continue to display great momentum in our pursuit to hire the best brokers in the country," said Steve Dantus, senior managing director and head of Bear Stearns Private Client Services. "The addition of these individuals - four leading brokers from across the country - adds further proof that our firm's culture and client driven platform is universally appealing. Their decision to join us further solidifies Bear Stearns as the place where successful, experienced brokers can better serve their clients and continue to build their business."

Bill Fry, a managing director, focuses on advising middle market institutional clients in fixed income and alternative investments. Mr. Fry joins Bear Stearns from Legg Mason and was previously at Lehman Brothers for 26 years.

David Mizrahi, also a managing director, joins Bear Stearns from Wachovia. He provides equity, fixed income, and alternative investment advice to high net worth individuals.

Bob Venzor offers comprehensive wealth management solutions to high net worth clients. Mr. Venzor was previously at Merrill Lynch for 15 years, and joins Bear Stearns as a managing director.

Chad Reibman also advises high net worth clients in equity, fixed income, and alternative investment strategies. Mr. Reibman, an associate director, was previously at Oppenheimer for 9 years. He joins the Bear Stearns satellite office in Bellevue, a Seattle, WA suburb, and will work closely with Michael Hershey who started the office in 2003.

Bear Stearns' Private Client Services Division, headquartered in New York City, operates branch offices in key markets throughout the United States including Atlanta, Boston, Chicago, Dallas, Los Angeles and San Francisco, and through Bear, Stearns International Ltd. has a European office based in London. As part of its growth strategy, the firm continues to consider opening satellite offices in markets where the firm has the opportunity to hire the top brokers in the industry. Satellite offices are located in the Seattle area of Bellevue, WA, the St. Louis area of Clayton, MO and Whippany, NJ.

Founded in 1923, Bear, Stearns & Co. Inc. is a leading investment banking and securities trading and brokerage firm, and the major subsidiary of The Bear Stearns Companies Inc. (NYSE:BSC). With approximately $52.1 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 and trading, securities 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 11,500 employees worldwide. For additional information about Bear Stearns, please visit the firm's website at www.bearstearns.com.