Jeffrey M. Farber promoted to oversee Tax Function at Bear Stearns

The Bear Stearns Companies Inc. has announced that Jeffrey M. Farber has been named the firm’s Senior Vice President – Finance. In addition to his existing responsibilities as Controller and Principal Accounting Officer, appointments he received in January 2004, Mr. Farber, a senior managing director, will oversee the tax and global procurement areas. He will continue to report to Samuel L. Molinaro, Jr., Executive Vice President and Chief Financial Officer.

“Since joining Bear Stearns almost 7 years ago Jeff has made a significant contribution to our financial operations,” commented Mr. Molinaro. “This appointment recognizes Jeff’s professionalism and management capabilities. I look forward to his continued success at Bear Stearns as he assumes these additional responsibilities.”

As Controller, Mr. Farber has been in charge of the firm’s accounting, regulatory and financial reporting activities worldwide. Mr. Farber joined Bear Stearns in May 2000 as Assistant Controller. Previously, he was an audit partner at Deloitte & Touche, where he worked for fourteen years. Mr. Farber graduated from Lehigh University with a B.S. in Accounting, and from New York University with an MBA in Finance.

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 13,500 employees worldwide. For additional information about Bear Stearns, please visit the firm’s web site at www.bearstearns.com.