Bear, Stearns & Co. Inc. makes announcement

Business Wire, Sept 6, 1995

NEW YORK--(BUSINESS WIRE)--September 6, 1995--Bear, Stearns & Co. Inc. announced today that Vincent J. Mattone, senior managing director and Executive Vice President and a member of the Board of Directors of The Bear Stearns Companies Inc., has resigned. He was also a member of the firm's Executive and Operations Committees.

Mr. Mattone joined Bear Stearns in 1979 to help establish the Government Bond Department. He was also instrumental in the growth of the entire fixed income area. Before joining Bear Stearns, he was at Salomon Brothers for 15 years where he was a vice president and manager of Salomon's finance desk.

James E. Cayne, President and Chief Executive Officer, said, "Vinnie has been a trusted colleague and very close personal friend for many years, and I will miss him greatly. He has had an extraordinarily successful career on Wall Street having been a major architect of the government finance business as we know it today. His contributions to the development of our Fixed Income Division and to Bear Stearns are recognized by all. Vinnie's departure is not only a loss to the firm but also to me."

Commenting on his decision, Mr. Mattone said, "I have had nothing but a wonderful experience at Bear Stearns and the decision to leave a part of my `family' has been difficult. However, I have decided to make a lifestyle change for personal reasons, and hope to continue the relationships I have cultivated at the firm in the future. I am proud to have participated in Bear Stearns' growth over the past 15 years and wish the firm continued success."

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 $6.6 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 and trading, private client services, asset management, correspondent clearing, securities lending and custody services. Headquartered in New York City, the company has over 7,400 employees located in domestic offices in Atlanta, Boston, Chicago, Dallas, Los Angeles, San Francisco and Washington, D.C.; and an international presence in Beijing, Buenos Aires, Geneva, Hong Kong, Karachi, London, Madrid, Manila, Paris, Sao Paulo, Shanghai, Singapore and Tokyo.

CONTACT: Bear, Stearns & Co. Inc.

Hannah Burns, 212/272-2395

or

Maura Gaenzle, 212/272-4445