Bear Stearns Selects USA Networks as the e-volve Stock Pick of the Week.

Business Editors

NOTE TO EDITORS: The following is an investment opinion issued

by Bear Stearns 

NEW YORK--(BUSINESS WIRE)--March 6, 2000

Pick Kicks-Off the 6th Week of the 10-week Internet Research 

Campaign

USA Networks (NASDAQ:USAI) has been selected by Bear Stearns as its e-volve stock pick of the week. The selection begins the sixth week of a comprehensive marketing plan designed to utilize the findings in e-volve, a 340-page report compiled by the Bear Stearns equity research department. Featuring contributions from 77 analysts, e-volve is designed to provide investors with insight into how the Internet will affect every industry and every aspect of business.

Cited as an innovator and a leader in creating a business model that clearly integrates both traditional media and new media, USA Networks is well positioned to thrive in the Internet economy, according to Bear Stearns managing director and broadcasting analyst Victor Miller. Miller believes that "faster growth prospects among traditional media companies are linked to the power of the Internet" and that USA Networks' vision of "contextualized commerce" which is based on the convergence of content, distribution, Internet and e-commerce assets will be the "driving force."

Miller believes USA Networks' media, Internet and e-commerce presence cannot be replicated. "The company has a presence in every major market with a complement of Internet and traditional media assets," he says. The company's assets include the USA Network, Sci-FI Network, Studios USA, USA Films, USA Broadcasting, USA Electronic Commerce and Services, Home Shopping Network, Hotel Reservation Network, Ticketmaster Online and local content providers CitySearch and Sidewalk.

In addition to the stock selection of the week, Bear Stearns will hold two virtual conference calls this week based on the e-volve report. The first call is scheduled for Tuesday, March 7 at 11:00 a.m. and will be hosted by six Bear Stearns financial services analysts. The second, scheduled for Wednesday, March 8 at 11:00 a.m., will examine the possibility of consolidation within the Internet area. Internet technologies analyst Robert Fagin will host the call, entitled, "Is Consolidation in the Cards?" Both calls will be supplemented by a slide presentation on the Bear Stearns Web site (www.bearstearns.com).

To learn more about the e-volve stock pick of the week, or to participate in the conference calls, members of the press may contact Russell Sherman at 212-272-5219.

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 $22.2 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 professional and correspondent clearing, including securities lending. Headquartered in New York City, the company has over 10,000 employees located in domestic offices in Atlanta, Boston, Chicago, Dallas, Los Angeles, Puerto Rico and San Francisco; and an international presence in Beijing, Buenos Aires, Dublin, Hong Kong, London, Lugano, Sao Paulo, Shanghai, Singapore and Tokyo. For additional information about Bear Stearns, please visit our Web site at www.bearstearns.com

Any recommendation contained in this report may not be suitable for all investors. Moreover, although the information contained herein has been obtained from sources believed to be reliable, its accuracy and completeness cannot be guaranteed. Bear Stearns may make markets and effect transactions, including transactions contrary to any recommendations herein, or have positions in the securities mentioned herein (or options with respect thereto) and may also have performed investment banking services for the issuers of such securities. In addition, employees of Bear Stearns may have positions and effect transactions in the securities or options of the issuers mentioned herein and may serve as directors of such issuers. Copyright (c) 2000. All rights reserved by Bear, Stearns & Co. Inc.