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Bear Energy's Purchase of Power Assets Awarded Energy Risk's Deal of the Year

Posted on: Tuesday, 22 January 2008, 09:00 CST

Bear Energy LP, a subsidiary of The Bear Stearns Companies Inc. (NYSE: BSC), was awarded Energy Risk's Deal of the Year for purchasing substantially all of Williams' (NYSE: WMB) power assets. In determining the award, Energy Risk considered innovation, scale and the complexity of the transaction. It also weighed the deal's ability to likely shape how energy markets operate in the future.

As part of the transaction completed in November of 2007, Bear Energy significantly increased its energy portfolio by acquiring 7,500 megawatts of gas-fired tolling capacity, 1,800 megawatts of full requirements power supply contracts with cooperatives in Georgia and Pennsylvania, and an associated hedge book. Bear Energy also hired more than 30 Williams employees.

"Through this deal, Bear Energy now has one of the largest natural gas power portfolios in the United States," said Paul Posoli, president of Bear Energy. "It has broadened our customer relationships and enhanced our ability to provide unique products to our energy clients."

According to Energy Risk, what made the purchase all the more remarkable was that Bear Energy, which was founded in June of 2006, was already growing very rapidly when it took on the Williams power assets. Energy Risk also recognized the transaction's "substantial benefits" to both parties and called its scale and speed of execution "impressive".

About Bear Energy

Bear Energy, a wholly owned subsidiary of The Bear Stearns Companies Inc., was founded in 2006 to provide flexible, comprehensive energy solutions in the physical and financial energy markets for clients across the energy value chain. Headquartered in Houston, Texas, Bear Energy currently employs an experienced team of 220 energy professionals with expertise in natural gas, electricity, coal, emissions and weather. To learn more about Bear Energy, please visit www.bearenergy.com.

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 14,000 employees worldwide. For additional information about Bear Stearns, please visit the firm's website at www.bearstearns.com.

Source: Business Wire

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