Bear Stearns Appoints Haruhiko Masuda As Head Of Investment Banking Japan

Tokyo — August 2, 2007 — Bear Stearns (Japan), Ltd. today announced that it has appointed Haruhiko Masuda as Senior Managing Director, Head of Investment Banking Japan.

Mr. Masuda began his career in 1981 at the Industrial Bank of Japan, working in Tokyo and also the bank's franchises in San Francisco and New York. He has extensive experience and knowledge of the M&A advisory sector in both domestic and international markets.

Judith Albert, Chief Operating Officer of International Investment Banking, commented, "Mr Matsuda is joining us at a time when Bear Stearns is giving increasing importance to the growth of our businesses across Asia. We are committed to the development of our investment banking franchise in Japan and Mr Masuda's considerable experience in both Japanese and US M&A will benefit us greatly as we grow the business."

Prior to joining Bear Stearns Mr Masuda was with Mizuho Securities Co., Ltd. as a General Manager in the Advisory group. He had also been President & CEO of the Bridgeford Group, an M&A advisory firm headquartered in New York between 1998 and 2004.

About Bear Stearns (Japan), Ltd.
Established in 1989, Bear Stearns (Japan), Ltd. is a general trading participant of the Tokyo Stock Exchange, and member of the Japan Securities Dealers Association. Bear Stearns (Japan), Ltd. is an indirect wholly owned subsidiary of The Bear Stearns Companies Inc. Bear Stearns (Japan), Ltd. provides a broad range of global products and services. Bear Stearns serves a diverse customer base including financial institutions, corporations and public entities.

About Bear Stearns:
Founded in 1923, The Bear Stearns Companies Inc. (NYSE: BSC) is a leading firm serving governments, corporations, institutions and individuals worldwide. The Company's core business lines include institutional equities, fixed income, investment banking, global clearing services, asset management, and private client services. Headquartered in New York City, the company has approximately 15,000 employees worldwide.

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