RNS No 7628c
LEHMAN BROTHERS HOLDINGS INC/PLC
1st July 1997


RE:   LEHMAN BROTHERS EURO MEDIUM TERM NOTES

PRINCIPAL AMOUNT   ITL 1,500,000,000
ORIGINAL ISSUE DATE    291295
MATURITY DATE          020198
COMMON CODE            6251340-2

WITH REFERENCE TO THE ABOVE NOTE ISSUE THE INTEREST RATE HAS
BEEN SET FOR 6 MONTHS AS FOLLOWS

INTEREST RATE CALCULATION

INTEREST PERIOD    020797 TO 020198
6 MONTH ITL LIBOR RATE   6.71875
PLUS SPREAD              (PLUS)0.20
INTEREST RATE FOR PERIOD  6.91875 UNLESS A CREDIT EVENT OCCURS
IN WHICH CASE THE RATE WILL BE ZERO
NO OF DAYS                184
INTEREST DUE AT NEXT
INTEREST PAYMENT DATE   ITL 53,043,750



END