Bear Stearns Q4 2007

Overall --Rev: -$854 million, or $6.90 a share(est -$1.82), versus net income of $563 million, or $4 a share in Q4 2006. --1st quarterly loss in 84 years (Morgan Stanley 1st quarterly loss since publice in 1986) --$1.9 bil writedown in mortgage related assets (forecast $1.2 bil) --negative revenue of $379 million as write-downs surpassed revenue. Net revenue a year ago was for $2.4 billion --company's executive committee won't receive bonuses this year. Detail Capital Markets(Fixed-income and equities trading and investment banking) --posted negative revenue of $956 million because of the write-downs. Year-earlier revenue was $1.91 billion. FI --Fixed Income net revenues were a loss of $1.5 billion, down from net revenues of $1.1 billion in the fourth quarter of 2006. Equity Trading --Bear Stearns, the fifth-largest securities firm, saidfourth-quarter revenue from equity sales and trading dropped 11 percent to $384 million. Investment-banking --fees fell 44 percentto $205 million. Clearing, which includes providing brokerageservices for hedge funds, advanced 2 percent to $276 million. Wealth-management --revenue rose 10% to $272 million as the number of accounts and client activity increased.