BEAR STEARNS ANNOUNCES THE LAUNCH OF THE FIRST ACTIVELY MANAGED EXCHANGE TRADED FUND

The Bear Stearns Current Yield Fund (YYY) to begin trading on the American Stock Exchange on March 18, 2008

New York, NY — March 10, 2008

Bear Stearns Asset Management ("BSAM") today announced the launch of the Bear Stearns Current Yield Fund (AMEX: YYY), the first actively managed exchange traded fund (ETF).

YYY, or Triple-Y, is composed of a variety of short-term fixed income instruments. The Fund aims to generate higher returns than an average money market fund by investing in diversified, high-quality securities, including governments, municipal securities, bank obligations, corporate and securitized debt. Triple-Y Shares can be purchased and sold intraday, with portfolio holdings fully disclosed each day via BSAM's website www.yyyfund.com. Triple-Y is the first product launched by the Bear Stearns Active ETF Trust.

"We are excited to be introducing the first actively managed ETF into the marketplace," said Jeff Lane, Chairman and CEO of Bear Stearns Asset Management. "The Bear Stearns Current Yield Fund is an innovative vehicle which allows investors to manage short-term fixed income. Through Triple-Y, investors have access to a talented management team, with a long and successful track record in the fixed income market. In addition, the Fund offers full transparency of holdings every day on the internet, liquidity via exchange trading and institutional class fees for all investors."

Triple-Y is managed by a team of fixed income professionals at BSAM, led by senior portfolio manager Scott Pavlak. Mr. Pavlak has more than 20 years of investment experience and has been managing portfolios with a similar investment process to Triple-Y for over 15 years.

"Utilizing a disciplined investment process, we seek to add value through sector allocation, security selection, yield curve positioning, and duration management," said Mr. Pavlak. "We use a conservative approach which aims to maximize income for our investors, while preserving capital."

Triple – Y will be available on the American Stock Exchange on March 18, 2008.

About Bear Stearns Asset Management Inc.
Bear Stearns Asset Management Inc. (BSAM®) is a wholly-owned subsidiary of The Bear Stearns Companies Inc. (NYSE: BSC). BSAM is a solutions-based provider of asset management and advisory services. Serving institutional and high-net-worth investors around the world, BSAM offers a broad portfolio of investment opportunities. These include carefully-selected strategies in equity, fixed income, hedge funds, and private equity.



The Bear Stearns Current Yield Fund ("YYYSM" or the "Fund") is a series of the Bear Stearns Active ETF Trust (the "Trust") and is an actively managed exchange traded fund ("ETF"). The Trust is registered with the Securities and Exchange Commission as an investment company under the Investment Company Act of 1940, as amended. Bear Stearns Asset Management Inc. ("BSAM"), a wholly owned subsidiary of The Bear Stearns Companies Inc., serves as the investment adviser to the Fund.

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