SE00- IND- ANGS BEAR STEARNS OFFICE SERMCING TWA ACO3UNT Beer. Steams & Co. Inc. 383 Waster Avenue New York. New York 10179 Your messages LW Bear, Stearns Securities Corp. Net Capital and Net Capital Requirements: At May 31, 2003 and July 31, 2003. the Company's net capital of approrimatety S2.4 Neon and S3.0 billion was approximately 6% and 7% of aggregate

M•E0 SUBSIDIARY BEAR STEARNS OFFICE SERVICING YOUR ACCOUNT Bear. Stearns 8 Co. Inc. 383 Madison Avenue New YY New York 10179 6 Your messages Bear, Stearns Securities Corp. Net Capital and Net Capital Requirements: At May 31, 2003 and July 31, 2003, the Company's net capital of approximately $2.4 billion and $3.0 billion was approximately 6% and 7% of aggreg

ED SUSSIDIAllv BEAR STEARNS OFFICE SERVICING YOUR ACcOliNT Bear. Stearns 8 Co. Inc. 383 Madison Avenue New YY New York 10179 7 Your messages Bear, Stearns Securities Corp. Net Capital and Net Capital Requirements: At November 30, 2006 and January 31, 2007, the Company's net capital of approximately $4.0 billion and $4.0 billion was approximately 6.8% and 6.7

IVED SUBS101ARv BEAR STEARNS OFFICE SERVICING YOUR AUCONT Bear. Stearns 8 Co. Inc. 383 Madison Avenue New YY New York 10179 8 Your messages Bear, Stearns Securities Corp. Net Capital and Net Capital Requirements: At November 30, 2006 and January 31, 2007, the Company's net capital of approximately $4.0 billion and $4.0 billion was approximately 6.8% and 6.7

WED SUBIC/MAT BEAR STEARNS OFFICE SERVICING YOUR ACcOliNT Bear. Stearns 8 Co. Inc. 383 Madison Avenue New YY New York 10179 5 Your messages Bear, Stearns Securities Corp. Net Capital and Net Capital Requirements: At November 30, 2006 and January 31, 2007, the Company's net capital of approximately $4.0 billion and $4.0 billion was approximately 6.8% and 6.7