Keith W. Young Joins Bear Stearns as Global Head of Corporate Security

Business Wire, Sept 20, 2005

NEW YORK -- Bear, Stearns & Co. Inc. today announced that Keith W. Young, a former special agent and senior executive with the United States Secret Service, has joined as a managing director and head of corporate security. Mr. Young will be responsible for the firm's physical security globally. In addition, his investigative experience and insight will serve as a valuable resource to the firm's business continuity planning and anti-money laundering efforts.

Commenting on the appointment, Samuel L. Molinaro Jr., executive vice president and chief financial officer, said, "Keith's proven leadership in the security industry, as well his experience in business operations and risk management strategies will be beneficial to our firm on multiple levels. We are pleased that Keith has decided to join Bear Stearns."

Mr. Young added, "Bear Stearns realizes the importance of proactively protecting its businesses, its clients' assets and its employees. The company's dedication to exploring emerging security practices and crisis management response protocols provides a unique opportunity to utilize the knowledge I have gained with the Secret Service. I look forward to working with Bear Stearns to strengthen the security of its franchise."

Mr. Young has over thirty years of experience in law enforcement, twenty of which were with the United States Secret Service in various positions. He was most recently an assistant director of the Office of Inspection where he safeguarded against unauthorized use or misappropriation of waste or loss of government funds, property and other assets. Prior to that he was an assistant director and chief financial officer for the Office of Administration.

Founded in 1923, Bear, Stearns & Co. Inc. is a leading investment banking and securities trading and brokerage firm, and the major subsidiary of The Bear Stearns Companies Inc. (NYSE:BSC). With approximately $52.1 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, securities research, private client services, derivatives, foreign exchange and futures sales and trading, asset management and custody services. Through Bear, Stearns Securities Corp., it offers financing, securities lending, clearing and technology solutions to hedge funds, broker-dealers and investment advisors. Headquartered in New York City, the company has approximately 11,500 employees worldwide. For additional information about Bear Stearns, please visit the firm's website at http://www.bearstearns.com.