Bear Stearns Hires Hedge Fund Investment Banker in Europe.

LONDON -- Bear, Stearns International Limited (BSIL) today announced that Knut Dahl has joined as a managing director in Investment Banking and will focus on the asset management sector with a particular emphasis on hedge funds, fund of funds and alternative asset managers throughout Europe. Mr. Dahl has significant relationships in the asset management and hedge fund community which complement BSIL's existing client base and will enhance the firm's offering in this market.

Michel Peretie, chairman of BSIL, commented, "Bear Stearns has a leading franchise with hedge funds throughout the world, providing prime brokerage, structuring, trading and banking solutions. Knut's advisory focus will add value for our hedge fund clients, and facilitate our ability to provide them the full scope of Bear Stearns' services. We are extremely pleased to have him join our effort."

Mr. Dahl will work out of the Investment Banking Department and will partner closely with the Fixed Income, Equities and Global Clearing Services units.

Mr. Dahl has over fourteen years of investment banking experience. He joins from Putnam Lovell, where has been focusing on European asset managers for the past three years. Prior to that he was at Lehman Brothers and at Goldman Sachs.

Bear, Stearns International Limited (BSIL) is a wholly owned subsidiary of The Bear Stearns Companies Inc. (NYSE: BSC). BSIL currently employs approximately 1,000 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, derivatives, financial futures, foreign exchange, private client services and global clearing.

Bear, Stearns International Limited is authorized and regulated by the Financial Services Authority.