IFS Assists Bear Stearns ESOP

In May, 2008, the Bear Stearns Board of Directors engaged IFS to act as named fiduciary and investment manager of The Bear Stearns Companies Inc. Employee Stock Ownership Plan to direct the Plan’s trustee with respect to the voting of the ESOP’s shares with respect to the proposed merger with JPMorgan Chase. IFS was also given responsibility to manage the ESOP’s holdings of Bear Stearns stock through the earlier of the consummation of the merger or August 31, 2008.