Bear Stearns Hires Gurinder Kalra to Head TechnologyResearch in Asia.

Business Editors

NEW YORK, New York--(BUSINESS WIRE)--September 12, 2000

Jonathan Shaw and Rukmani Bagai Also Join

to Expand Asian Research Effort

Bear, Stearns & Co. Inc. announced today that Gurinder Kalra has agreed to join the firm as head of Asian

Commenting on the appointments, Kay Booth, director of global research said, "These hires go a long way toward advancing our commitment to build a leading research effort in Asia. Gurinder has established himself as one of the top Asian Technology analysts, and Jonathan and Rukmani bring similar credentials to their areas of expertise. Our Asian research endeavor, bolstered by this new group's exceptional talent, will continue to help us provide clients with insightful worldwide research coverage."

Mr. Kalra was formerly the head of technology research for Morgan Stanley Dean Witter in Asia. He and his team have repeatedly been ranked among the top analysts in Institutional Investor's Asian all-star survey. Mr. Shaw joins the firm from Schroders Securities in Hong Kong and Ms. Bagai was most recently a bank analyst for Paribas based in Singapore.

Founded in 1923, Bear, Stearns & Co. Inc. is a leading worldwide investment banking and securities trading and brokerage firm, and the major subsidiary of The Bear Stearns Companies Inc. (NYSE: BSC). With approximately $24.6 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, trading and research, private client services, derivatives, foreign exchange and futures sales and trading, asset management and custody services. Through Bear, Stearns Securities Corp., it offers global clearing services to broker dealers, prime broker clients and other professional traders, including securities lending. Headquartered in New York City, the company has more than 10,800 employees located in domestic offices in Atlanta, Boston, Chicago, Dallas, Los Angeles, San Francisco and San Juan; and an international presence in Beijing, Buenos Aires, Dublin, Hong Kong, London, Lugano, Sao Paulo, Shanghai, Singapore and Tokyo. For additional information about Bear Stearns, please visit our Web site at http://www.bearstearns.com.