RNS No 7174v
LEHMAN BROTHERS HOLDINGS PLC


                          DOCUMENT RE:
       U.S$1,500,000 ZERO COUPON SUBORDINATED NOTES DUE 2002
                     TO BE ISSUED PURSUANT TO A
                          U.S.$5,000,000,000
                    EURO MEDIUM-TERM NOTE PROGRAMME
             UNCONDITIONALLY AND IRREVOCABLE GUARANTEED BY
                     LEHMAN BROTHERS HOLDINGS INC.


A copy of the above is available for inspection from the Company
Announcements office of the Stock Exchange, London.

END