Bear Stearns Broker-Dealer & Investment Advisor Services Enhances Its Mutual Fund Platform

Business Wire, June 18, 2007

NEW YORK -- Bear Stearns Broker-Dealer & Investment Advisor Services (BDIAS) today announced that it is significantly broadening its mutual fund platform by expanding the list of available funds and adding to its set of mutual fund research tools. These enhancements are specifically designed to help broker-dealers and registered investment advisors grow their businesses. Strengthening the BDIAS mutual fund platform is part of an overall growth strategy led by Co-Heads Joe Triarsi and John Tyers.

"Offering an extensive mutual fund platform is important to support our clients' businesses," said Joe Triarsi. "We recognize the value of equipping our clients with an impressive set of tools to help them evaluate the array of fund options available to investors. These enhancements elevate the Bear Stearns platform to a position among the leading fund supermarkets in the industry."

Over 10,000 funds spanning more than 300 fund families are available through the Bear Stearns mutual fund platform. This includes approximately 5,600 no load and load-waived funds. Within this universe, over 3,400 funds will be available through FundCIRCUIT([R]), the Bear Stearns No Transaction Fee (NTF) Platform, more than doubling the current roster of funds.

To help clients analyze and compare different funds, BDIAS has added NewRiver's FundPOINT([R]) Desktop to its suite of products that includes FundTOOLS([R]), a set of research tools powered by Morningstar([R]). Both mutual fund research engines are available through the BDIAS web portal.

FundPOINT Desktop is a web-based solution that provides quick and easy access to mutual fund prospectus information. Notable features include a share class analysis tool, information related to breakpoints, rights of accumulation and letters of intent.

FundTOOLS includes three distinct research functions from Morningstar([R]): Fund Compare(SM), Fund Screener(SM) and Investment Profiles(SM). Fund Compare offers clients the ability to compare performance, yield, ratios and other characteristics for multiple mutual funds. Fund Screener allows clients to set specific criteria, such as cost, return, and ratings and then screens funds available through Bear Stearns for a match. Investment Profiles provides clients with quick access to in-depth information on mutual funds, such as the Morningstar Rating[TM], Morningstar Style Box[TM], performance and portfolio sector breakdowns.

"Our clients look to us to provide robust solutions so that they can concentrate on building relationships and managing client portfolios," said Rich Cancro, Head of Product Development. "By enhancing our mutual fund platform and aligning with leading providers such as Morningstar and NewRiver, Bear Stearns continues to deliver a superior open architecture platform that includes best-of-breed product and service providers."

These mutual fund enhancements are the latest initiatives in BDIAS' growth strategy. BDIAS has recently announced several new hires including appointments in technology and investment advisor sales.

BDIAS is a business unit of the Global Equities division of Bear, Stearns & Co. Inc. (together with Bear, Stearns Securities Corp., "Bear Stearns"). Bear Stearns provides trade execution, custody, clearing services, technology, wealth management solutions, and investment products to over 350 Broker-Dealer and Registered Investment Advisor clients.

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 15,000 employees worldwide. For additional information about Bear Stearns, please visit the firm's web site at www.bearstearns.com.

About NewRiver, Inc.

NewRiver, Inc. is the industry leader for electronic compliance and intelligent document services for the financial brokerage and retirement industries. NewRiver's solutions enable financial brokerages, retirement plan providers, variable annuity providers, and retirement plan record keepers to dramatically decrease operations expenses, to strengthen customer and business partner relationships, and to improve the productivity of their employees. NewRiver currently serves more than 100 top financial companies and is headquartered in Andover, Massachusetts. For more information, please visit www.newriver.com.