Bear Stearns Hires Experts In Educational Finance

Richard Allen and David Kahn Join Public Finance Group

January 07, 2008 // Franchising.com // New York —Bear Stearns announced today that Richard L. Allen and David M. Kahn will join the firm as managing directors in public finance, responsible for arranging financing for local school districts in the State of Michigan.

Mr. Allen has concentrated on primary and secondary educational financing and has been associated with school finance since the early 1980s. Mr. Kahn served 27 years in public education before entering the securities industry in 1998. They will report to Bob Foran, senior managing director and Head of Public Finance.

"We are honored to welcome these highly respected professionals to our firm," Mr. Foran said. "Both gentlemen bring a wealth of experience and knowledge in the field of educational finance. They will serve as invaluable additions to our team and to our clients."

Prior to joining Bear Stearns, Mr. Allen worked on a variety of state and local financings in addition to having acted as the lead banker on hundreds of negotiated school district bond issues at UBS. From 1980-84, he was Chairman of the Board of Allen Consultants, a firm which provided financial advisory services to municipalities and businesses throughout Michigan. Previously, Mr. Allen directed the Municipal Consulting Department of Michigan National Bank and worked as Deputy Director of the Municipal Finance Commission in the Michigan Department of Treasury. He also served as an elected board member for Holt Public Schools in Michigan for 12 years.

Mr. Kahn was a teacher, building principal and communications director for local public schools in the State of Michigan. In 1980, he joined the Michigan Association of School Administrators (MASA), the school superintendent's professional association, as their Associate Executive Director. During his 18 years with MASA, Mr. Kahn helped create the role of, and served as, the Executive Director of the Michigan Institute for Educational Management (MIEM), providing professional development programs for all levels of school administrators. Concurrently, he served as the Executive Director of the Michigan School Public Relations Association (MSPRA) leading their efforts to improve school community relations' efforts in the state.

About Bear Stearns
Founded in 1923, The Bear Stearns Companies Inc. (NYSE: BSC) is a leading financial services 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 14,000 employees worldwide. For additional information about Bear Stearns, please visit the firm's web site at www.bearstearns.com.

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