RNS Number:4184Q
Lehman Bros Holdings Inc
1 October 2003


This is to inform you that for value 27th November 2003 we will buy back the 
Note indicated below issued pursuant the Euro Medium-Term Note Program of Lehman
Brothers Holdings Inc and Lehman Brothers Treasury Co B.V.

Description of Notes                 Principal Amount         Amount Bought
                                                              Back

Lehman Brothers Holdings Inc         EUR 178,952,158.42       EUR 178,952,158.42
(formerly Lehman brothers Holdings   (DEM 350,000,000)        (DEM 350,000,000)
Plc) DEM 350,000,000 Guaranteed
Floating Rate Notes due 2005
Series No 488 

The notes were redeemed in full for the above value date.

Lehman Brothers Holdings Inc



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