Bear Stearns Launches BearLinx(SM) Exchange Traded Note Linked to the Alerian MLP Select Index

  
    
  
  
    
      Bear, Stearns & Co. Inc. (NYSE: BSC) today announced that it has 
      launched the first Exchange Traded Note (ETN) designed to provide 
      investors with efficient access to energy-related Master Limited 
      Partnerships (MLPs). The ETN, called BearLinxSM 
      Alerian MLP Select Index ETN, captures the performance of the Alerian 
      MLP Select Index (AMZS Index) – a 
      comprehensive benchmark of energy-oriented MLPs. The BearLinxSM 
      ETN is listed on the New York Stock Exchange and began trading today 
      under the symbol “BSR”.
    
    
      “The BearLinx ETN offers investors exposure to 
      a diversified MLP index through one purchase where no Exchange Traded 
      Fund exists or has yet been created,” said 
      Bill Bamber, senior managing director in Bear Stearns Structured Equity 
      Products. “This ETN is an innovative way for 
      institutions and individual investors to access the MLP market in both a 
      cost and operationally efficient manner,” 
      added Joshua Dunivant, salesperson in Structured Equity Products.
    
    
      The 20-year BearLinxSM ETN will track the 
      change in the level of the AMZS Index and investors will receive monthly 
      coupons equal to the amount of dividends that would be paid by the MLPs 
      underlying the AMZS Index each month, minus a tracking fee. The MLPs 
      underlying the AMZS Index are generally limited partnerships engaged in 
      the exploration, marketing, mining, processing, production, storage or 
      transportation of any mineral or natural resources. Alerian Capital 
      Management launched the Alerian MLP Select Index on May 16, 2007.
    
    
      For more information, Bear Stearns clients should contact their Bear 
      Stearns sales representative.
    
    
      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.
    
    
      The issuer has filed a registration statement (including a 
      prospectus) with the SEC for the offering to which this communication 
      relates. Before you invest, you should read the prospectus and 
      other documents the issuer has filed with the SEC for more complete 
      information about the issuer and this offering. You may get these 
      documents for free by visiting EDGAR on the SEC website at www.sec.gov 
      or by following the hyperlinks provided below. Alternatively, the 
      issuer, any underwriter or any dealer participating in the offering will 
      arrange to send you the prospectus if you request it by calling 
      toll-free 1-866-803-9204, or you may request a copy from any other 
      dealer participation in the offering. You may also access the 
      prospectus, prospectus supplement and pricing supplement on the SEC 
      website as follows:
    
    
      Pricing Supplement: 
      http://www.sec.gov/Archives/edgar/data/777001/000114420407037421/v081 
      375_424b5.htm
    
    
      Prospectus Supplement: http://www.sec.gov/Archives/edgar/data/777001/000104746906011015/a217 
      2743z424b5.htm
    
    
      Prospectus: 
      http://sec.gov/Archives/edgar/data/777001/000104746906011007/a2172711 
      zs-3asr.htm
    
    
      (Due to the length of these URLs, it may be necessary to copy and paste 
      it into your Internet browser's URL address field. You may also need to 
      remove an extra space in the URL if one exists.)
    
    
      Alerian MLP Select Index, Alerian MLP Select Total Return Index, Alerian 
      MLP Index and Alerian MLP Total Return Index are trademarks of Alerian 
      Capital Management LLC and their use is granted under a license from 
      Alerian Capital Management LLC