Bear Stearns Selects the Charles Schwab Corporation as the E-volve Stock Pick of the Week.

NEW YORK--(BUSINESS WIRE)--March 13, 2000

NOTE TO EDITORS: The following is an investment opinion issued

by Bear Stearns 

Pick Kicks-Off the 7th Week of the 10-week Internet Research Campaign

The Charles Schwab Corporation (NYSE:SCH) has been selected by Bear Stearns financial services and technology analysts as its e-volve stock pick of the week. The selection begins the seventh 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.

Amy Butte, financial services and technology analyst, describes Schwab as "a growth company in a growth industry." The company, which is benefiting from the growth of the mutual funds business and the increased participation of the retail investor, has recently acquired US Trust Corporation (NYSE:UTC) and CyBercorp. These acquisitions suggest further growth in both the high net-worth and active-trader segments; providing Schwab with the ability to grow with its client base. Butte believes, "Schwab's commitment to asset growth, client services, and efficient cost structure make it an attractive stock pick."

Furthermore, the analyst expects Schwab to provide an upside surprise when it reports its monthly activity numbers during the week of March 13. The robust retail activity, strong market volume, and technology, which move people to action, could provide a catalyst for upward earnings revisions.

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 14 at 11:00 a.m. and will be hosted by five Bear Stearns consumer sector analysts. The second, scheduled for Wednesday, March 15 at 11:00 a.m., will examine the expansion of B2B market opportunities. Internet technology analyst Scott Ehrens will host the call. 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 Michelle O'Brien at 212-272-6659.

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.