Bear Stearns launches sixth fund - The Insiders Select Portfolio - in conjunction with Symphony Asset Management.

NEW YORK--(BUSINESS WIRE)--June 15, 1995--Bear, Stearns & Co. Inc. announced today that it has launched the sixth fund in its family of funds introduced earlier this year. The new fund, called The Insiders Select Portfolio, will be managed by Bear Stearns Funds Management. BSFM has engaged Symphony Asset Management to serve as the fund's sub-investment adviser. Symphony will select securities for the portfolio based primarily on the reported public actions of insiders in corporations utilizing its proprietary IntelliVest(TM) Model. This model analyzes stock transactions by corporate insiders (officers, directors and large shareholders), financing activities of companies, and earnings projections of financial analysts to determine which stocks to buy or to sell short.

"The fund is unique because the initial search for companies will be triggered by insiders' activities, often the best indication of a stock's direction," notes Bob Reitzes, Director of Mutual Funds for Bear Stearns Asset Management. Jeff Skelton, President of Symphony Asset Management, agrees that "by far, the best informed economic agents relating to a given firm are its management and board - its insiders. Corporate insiders are privy to the most intimate company details, and more than anyone else, are in a position to understand the near-term prospects of the firm."

Bear Stearns launched its family of funds in April of this year and currently offers five funds including its flagship fund, the S&P STARS Portfolio, as well as the Large Cap Value Portfolio, the Small Cap Value Portfolio, the Total Return Bond Portfolio, and the Emerging Markets Debt Portfolio. All five funds have both Class A and Class C shares.

Symphony Asset Management, a San Francisco-based company begun in 1994 to offer investment services to institutions and private clients, is a subsidiary of BARRA Inc., the world's leading provider of risk control and investment analytic software.

The Insiders Select Portfolio will initially offer two classes of shares. The "A" shares carry a 4.75% maximum initial sales load and a 0.5% annual 12b-1 fee. Class "C" shares carry a 1% annual 12b-1 fee plus a 1% redemption fee within the first year of purchase. Both classes will be subject to management fees and other expenses.

A prospectus containing more complete information about Bear Stearns funds may be obtained from Bear, Stearns & Co. Inc., 575 Lexington Avenue, New York, New York 10022, Attention: Ray DeAngelo. Investors should read the prospectus carefully before investing.

Bear, Stearns & Co. Inc., a leading worldwide investment banking and securities trading and brokerage firm, is the major subsidiary of The Bear Stearns Companies Inc. (NYSE:BSC). The company's business includes corporate finance and mergers and acquisitions, institutional equities and fixed income sales and trading, private client services, asset management, correspondent clearing, securities lending and custody services. Headquartered in New York City, the company has over 7,400 employees located in domestic offices in Atlanta, Boston, Chicago, Dallas, Los Angeles, San Francisco and Washington, D.C.; and an international presence in Beijing, Buenos Aires, Geneva, Hong Kong, Karachi, London, Madrid, Manila, Paris, Sao Paulo, Shanghai, Singapore and Tokyo.

CONTACT: Bear, Stearns & Co. Inc.

Hannah Burns, 212/272-2395

Maura Gaenzle, 212/272-4445