Bear Stearns in Acquisition of Private Equity Consortium

March 19, 2007

Cleary Gottlieb is representing Bear, Stearns & Co. Inc., as financial advisor to Aeroflex Incorporated in its acquisition by the private equity consortium of General Atlantic LLC and Francisco Partners for approximately $1.0 billion. Aeroflex stockholders would receive $13.50 per share in cash.

Aeroflex Incorporated (Nasdaq: ARXX) is a global provider of high technology solutions to the aerospace, defense, cellular and broadband communications markets. General Atlantic LLC is a leading global private equity firm providing capital for growth companies driven by information technology or intellectual property. With approximately $5 billion of committed capital, Francisco Partners is one of the world’s largest technology-focused private equity funds.