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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 V967Ch8VvCb0Y2zvTedxThKvQqS60zugWvaKQ3MeZ7TMFeWaJhOX+F8TWR791fqE
 WWg2EWjMUA21eS2lkbA0Qg==

<SEC-DOCUMENT>0001068800-08-000141.txt : 20080401
<SEC-HEADER>0001068800-08-000141.hdr.sgml : 20080401
<ACCEPTANCE-DATETIME>20080401153023
ACCESSION NUMBER:		0001068800-08-000141
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20080328
FILED AS OF DATE:		20080401
DATE AS OF CHANGE:		20080401

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BEAR STEARNS COMPANIES INC
		CENTRAL INDEX KEY:			0000777001
		STANDARD INDUSTRIAL CLASSIFICATION:	SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211]
		IRS NUMBER:				133286161
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1130

	BUSINESS ADDRESS:	
		STREET 1:		ONE METROTECH NORTH
		STREET 2:		9TH FL
		CITY:			BROOKLYN
		STATE:			NY
		ZIP:			11201
		BUSINESS PHONE:		3476439862

	MAIL ADDRESS:	
		STREET 1:		ONE METROTECH NORTH
		STREET 2:		9TH FL.
		CITY:			BROOKLYN
		STATE:			NY
		ZIP:			11201

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			NOVELLY PAUL A
		CENTRAL INDEX KEY:			0001180136

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-08989
		FILM NUMBER:		08729208

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		9737932267

	MAIL ADDRESS:	
		STREET 1:		115 S JEFFERSON RD
		CITY:			WHIPPANY
		STATE:			NJ
		ZIP:			07981
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>novelly_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2008-03-28</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000777001</issuerCik>
        <issuerName>BEAR STEARNS COMPANIES INC</issuerName>
        <issuerTradingSymbol>BSC</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001180136</rptOwnerCik>
            <rptOwnerName>NOVELLY PAUL A</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>3920 N. A-1-A, UNIT 301</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>FT. PIERCE</rptOwnerCity>
            <rptOwnerState>FL</rptOwnerState>
            <rptOwnerZipCode>34949</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock, par value $1.00 per share</value>
            </securityTitle>
            <transactionDate>
                <value>2008-03-28</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>125000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>10.670</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Note 2</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Does not include 3,523.244 Restricted Stock Units directly owned by Mr. Novelly under the issuer's Non-Employee Directors'
 Stock Option and Stock Unit Plan, including dividends through the transaction date.</footnote>
        <footnote id="F2">Shares were sold by St. Albans Global Management LLLP, a Delaware limited liability limited partnership (&quot;Global&quot;), of which
 Mr. Novelly is the chief executive officer. Mr. Novelly disclaims beneficial ownership of the shares owned by Global.</footnote>
    </footnotes>

    <remarks>Attorney in fact for the Reporting Person, Paul A. Novelly</remarks>

    <ownerSignature>
        <signatureName>/s/ James F. Sanders</signatureName>
        <signatureDate>2008-03-29</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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