Bear Stearns Hires Equity Research Analysts in London.

Business Editors

LONDON--(BUSINESS WIRE)--Oct. 12, 2000

Bear, Stearns International Limited (BSIL) announced today that three new equity research analysts have joined the firm in London. Leonardo Rubattu, a managing director, will cover southern European banks; managing director Alastair Gunn will cover logistics; and Brendan Hoey, an associate director, will cover publishing. All three analysts will report to senior managing director Roger Hirst, head of European equity research.

Commenting on the appointments, Mr. Hirst said, "The aggressive expansion of our European equity research effort continues with the addition of these highly talented professionals. Leonardo, Alastair and Brendan will provide expert coverage of industry areas we have not previously followed in Europe, and their research will help us serve a wide range of new clients."

Mr. Rubattu joins Bear Stearns from Morgan Stanley Dean Witter, where he was a Pan-European bank analyst focused on Italian banks. Prior to joining Morgan Stanley, he covered the same sector for SG Securities and for Albertini & Co. He holds a master's degree in economics from Universita Commerciale Luigi Bocconi in Milan and a master's degree in international management from Ecole des Hautes Etudes Commerciales in Jouy-en-Josas, France.

Mr. Gunn comes to the firm from Credit Lyonnais Securities, where he was head of Pan-European Transport Research. Prior to that, he was a transport and property analyst at MeesPierson Securities and a fund manager at Barclays Investment Research. He joined the City in 1985 as a management trainee with the National Westminster Bank.

Mr. Hoey joins from Robert Fleming, where he was a Pan-European media and technology analyst. Before joining Robert Fleming, he was a Pan-European media analyst at Paribas and an analyst at Morgan Stanley. Mr. Hoey holds an MA in French and Hispanic studies from the University of Glasgow and an MBA from EAP.

The appointments represent the latest move in BSIL's dramatic recent expansion. Under the leadership of BSIL chairman Jeremy Sillem, who joined the firm in May, Bear Stearns' London-based operations have grown to approximately 700 employees engaged in a full range of investment banking activities. Recent senior appointments include Michel Peretie, head of fixed income for Europe and Asia and a member of the BSIL Executive Committee, and leaders for business units engaged in equity research, fixed income research, investment banking and leveraged finance.

Bear, Stearns International Limited (BSIL) is a wholly owned subsidiary of The Bear Stearns Companies Inc. BSIL employees 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, derivatives, financial futures, foreign exchange and global clearing.

Founded in 1923, Bear, Stearns & Co. Inc. is a leading worldwide investment banking and securities trading and brokerage firm, and the major subsidiary of The Bear Stearns Companies Inc. (NYSE:BSC). With approximately $24.6 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 global clearing services to broker dealers, prime broker clients and other professional traders, including securities lending. Headquartered in New York City, the company has approximately 11,000 employees located in domestic offices in Atlanta, Boston, Chicago, Dallas, Los Angeles, San Francisco and San Juan; and an international presence in Beijing, Buenos Aires, Dublin, Hong Kong, London, Lugano, Sao Paulo, Seoul, Shanghai, Singapore and Tokyo. For additional information about Bear Stearns, please visit the firm's Web site at http://www.bearstearns.com.