STA1TAENT February 22.2002 Bear. Stearns Securities Cap. Net Capital and Net Capital Requirements: At November 30. 2001 and January 31. 2002. the Ccmpanys net capital of approximately $2.6 billion and S2.6 billion was approximately 9% and 8% of aggregate debit items and exceeded the minimum regulator

ables are recognized neatly al far value (n the case of loans and payables carried at arnorteed cost) Pus transaction costs decent attributable The Ccmpanys finarcial babbles include acetates payable. accounts payable to related parties, other accounts payable and financial obligetcres Subseo.en: measur