David Braunschvig Joins Bear Stearns Investment Banking Group

Business Wire, Sept 27, 2005

NEW YORK -- Bear, Stearns & Co. Inc. today announced that David Braunschvig has joined as a senior managing director in the Technology, Media, & Telecom Group (TMT) within Investment Banking. Mr. Braunschvig will play a senior role in the firm's global investment banking effort, particularly in Europe, with an emphasis on TMT.

Commenting on the hire, David Glaser, co-head of Investment Banking at Bear Stearns, said, "Our clients in the Technology, Media and Telecom sector are increasingly looking towards bankers with a broad range of skills and capabilities. David's extensive industry knowledge and transaction experience, particularly on the advisory side, coupled with his strong domestic and European client relationships, complement our existing capabilities and growing presence in the TMT sector as a firm. We are excited to have him join."

Mr. Braunschvig joins from Lazard Freres where he was a senior advisor and managing director, advising companies in the technology, media, and telecom sector. He has over twenty years of investment banking experience in the TMT sector worldwide and he has been responsible for some of the most significant transactions in the industry. In particular, he has advised American and European companies including Bertelsmann AG, Eutelsat S.A., InterActive Corp., Loral Space and Communications, and Suez. Mr. Braunschvig holds an MPA from Harvard University and a Doctorate in Computer Science from the University of Paris.

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 www.bearstearns.com.