Mount Sinai and The Bear Stearns Charitable Foundation to Provide Free Clinical Care to Ground Zero Workers.

Business Editors

NEW YORK--(BUSINESS WIRE)--October 16, 2002

The Bear Stearns/Mount Sinai Health for Heroes Program Is Launched

Workers and volunteers involved in the heroic effort at Ground Zero can now receive free treatment for health problems related to the rescue, recovery and clean up, through a new program announced today by officials from Mount Sinai Medical Center and The Bear Stearns Charitable Foundation.

Those identified as having WTC-related health problems will be provided medical and mental health treatment through the Bear Stearns/Mount Sinai Health for Heroes Program, which is funded by a $1 million grant from The Bear Stearns Charitable Foundation. The program will be operated through the Mount Sinai Irving J. Selikoff Center for Occupational and Environmental Medicine (COEM).

Among those who will be eligible for free WTC-related medical care are workers and volunteers involved in the rescue and recovery, restoration of essential services and clean up/debris removal at either the World Trade Center site or the Staten Island landfill.

"With the cleanup at Ground Zero now complete, it is time to focus on the needs of those men and women who risked their personal well-being to serve this city in its time of greatest need," said Bear Stearns Chairman and CEO James E. Cayne. "We are proud to be a partner with Mount Sinai on this important initiative."

Added Dr. Kenneth I. Berns, President and CEO of Mount Sinai Medical Center, "It is our duty to do everything we can to ensure these heroes do not suffer ill health effects as a result of their selfless acts. We at Mount Sinai are grateful to everyone at Bear Stearns for their generosity on behalf of those who gave so much of themselves."

Mount Sinai had previously been awarded a federal grant to provide initial health screenings for an estimated 8,500 site workers and volunteers. While the federal grant was a critical step in addressing 9/11-related health problems, it did not provide for follow-up care. The grant from The Bear Stearns Charitable Foundation will help fill the void by providing comprehensive medical care.

"We estimate that more than one-third of the 8,500 screened workers will be diagnosed with respiratory problems and that about a quarter will need follow up for mental health problems," said Dr. Robin Herbert, Co-Director of the Mount Sinai COEM and of the WTC Medical Screening Program. "Because the conditions we are diagnosing among first responders often become chronic if not treated promptly, it is critical to begin comprehensive treatment immediately upon diagnosis. We can now take that vital step."

The $1 million grant from The Bear Stearns Charitable Foundation will help fund, for a one-year period, a multidisciplinary team of occupational medicine specialists, including two physicians, one nurse and one patient-care assistant. Mount Sinai also will use the funds to hire a psychiatrist to treat patients found to be experiencing mental health problems and a social worker to manage other patient issues.

It is expected that the $1 million Bear Stearns grant will serve as bridge funding, allowing the COEM to develop its clinical infrastructure while seeking a more systemic federal response to the vital need for an ongoing and comprehensive 9/11 treatment program.

For more information about the program, the general public can call 212-241-9059.

Founded in New York City in l852, Mount Sinai Medical Center today is a 1,171 bed, tertiary care teaching hospital with a medical staff of nearly 1,800 physicians. The Mount Sinai Hospital is internationally acclaimed for excellence in clinical care and its advancements in fields such as cardiology, geriatrics, transplantation, rehabilitation medicine, gastroenterology and community medicine. Last year, more than 48,000 people were treated at Mount Sinai on an inpatient basis, more than 84,000 were treated in the emergency room, and the outpatient department received nearly 490,000 visits. Mount Sinai School of Medicine is internationally recognized for ground-breaking clinical and basic-science research, and innovative approaches to medical education. Mount Sinai School of Medicine is also known for unique educational programs that not only prepare students to be highly skilled caregivers, but help them to reach their maximum potential as caring, well-rounded people. Long dedicated to serving its community, the School extends its boundaries to improve health care delivery, educational opportunities and quality of life for residents of East Harlem and surrounding communities. For more information about Mount Sinai, please visit our Web Site at http://www.mountsinai.org.

The Bear Stearns Charitable Foundation was established in 2001 in response to terrorist attacks on September 11th. The Foundation has as its mission to aid those who suffered and are still suffering from the tragedy. Founded in 1923, The Bear Stearns Companies Inc. (NYSE: BSC) is the parent company of Bear, Stearns & Co. Inc., a leading international investment banking and securities trading and brokerage firm serving governments, corporations, institutions and individuals. Headquartered in New York City, the company has approximately 10,500 employees worldwide. For additional information about Bear Stearns, please visit our Web site at http://www.bearstearns.com.