THE BEAR STEARNS COMPANIES INC. (UNAUDITED) (In thousands, except common share data, financial ratios and other data)
	Quarters Ended
	November 30, 2007		November 30, 2006
Results
Revenues, net of interest expense	$	(379)	$	2,413
Net income	$	(854)	$	563
Net income applicable to common shares	$	(859)	$	558
Financial Position
Total assets, at period end	$	397,091 (1)	$	350,433
Stockholders' equity, at period end	$	11,801	$	12,129
Total capital, at period end	$	80,339	$	66,699
Common Share Data
Earnings per common share:
Basic	$	(6.90)	$	4.42
Diluted	$	(6.90)	$	4.00
Book value per common share, at period end	$	84.09	$	86.39
Weighted average common shares outstanding:
Basic	127,119,245		129,182,315
Diluted	127,119,245		145,923,131
Common shares outstanding, at period end (2)	136,155,586		145,693,021
Cash dividends declared per common share	$	0.32	$	0.28
Financial Ratios
Return on average common equity (annualized)	(29.1%)		20.5%
Pre-tax profit margin (3)	n/a		37.0%
Compensation & benefits/Revenues, net of interest expense	n/a		43.6%
Other Data
Employees, at period end	14,153		13,566

⁽¹⁾ Represents Total Assets figure as of August 31, 2007.
⁽²⁾Represents shares used to calculate book value per common share. Common shares outstanding include units issued under certain stock compensation plans which will be distributed as shares of common stock.
⁽³⁾Represents the ratio of income before provision for income taxes to revenues, net of interest expense.