Elena Landau joins Bear Stearns' Sao Paulo investment banking effort.

NEW YORK--(BUSINESS WIRE)--Sept. 30, 1996--Bear Stearns & Co., Inc. announced today that Elena Landau has joined the firm as a managing director in international investment banking. Based in Sao Paulo, she will work with the company's existing team headed by Nicholas Reade on business origination in Brazil.

Prior to joining Bear Stearns, Landau was the director of Brazil's National Development Bank (BNDES) in charge of privatization. Prior to joining the BNDES, Landau was a professor of economics at the Catholic University of Rio de Janeiro, a consultant to various government offices, and a member of the PSDB (President Fernando Henrique Cardoso's Party) economic think tank. She holds a degree in Economics and a Master's degree in Macroeconomics from the Catholic University in Rio.

Jeffrey Urwin, a senior managing director responsible for international investment banking, said, "We are delighted that Elena has joined our team in Sao Paulo. Her profound knowledge of privatization and investment banking opportunities in Brazil combined with many years of experience with Brazil's regulatory environment and policies are a valuable enhancement to our capability in this important region."

Through offices in Sao Paulo, Buenos Aires and New York, Bear Stearns provides its Latin American clients with investment banking, equity and fixed income sales and trading, capital markets, derivatives, and research services.

Bear Stearns has been a market leader in Latin America for many years with an established record of providing investment banking services to both private and public issuers. Recent transactions include those completed for Coca-Cola FEMSA, ENERSIS, Grupo Dina, Grupo Elektra, Transportacion Maritima Mexicana, as well as a US$480 million equity offering of USIMINAS shares, the largest equity offering out of Brazil to date. Bear Stearns' dominance in this sector is reflected in its research capability. The firm is currently ranked No. 2 for Latin American research by Institutional Investor, Global Investor, and LatinFinance.

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). With approximately $8.9 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 and trading, derivatives, private client services, asset management, correspondent clearing, securities lending and custody services. Headquartered in New York City, the company has over 7,800 employees located in domestic offices in Atlanta, Boston, Chicago, Dallas, Los Angeles, and San Francisco; and an international presence in Beijing, Buenos Aires, Geneva, Hong Kong, London, Madrid, Manila, Paris, Sao Paulo, Shanghai, Singapore, and Tokyo.

CONTACT: Bear, Stearns & Co., Inc.

Hannah Burns, 212/272-2395

Christine Illes, 212/272-4395