Rule 424(b)(2)
Registration No. 33-65674
NASD File No: 9307071103
PRICING SUPPLEMENT NO. 39
Dated March 30, 1994 to Prospectus
Supplement dated March 4, 1994
and Prospectus dated October 4, 1993.
LEHMAN BROTHERS HOLDINGS INC.
Medium-Term Notes, Series E
(Fixed Rate)
Due from Nine Months to 30 Years from Date of Issue
Interest Payable each February 15 and August 15 and at Maturity
Pricing to Public: 100%
Agent's Commission: .25%
Original Issue Date: 4/7/94
Interest Rate Per Annum: 5.77%
Maturity Date: 4/8/96
The aggregate principal amount of this offering is $1,000,000 and
relates only to Pricing Supplement No. 39. Medium-Term Notes,
Series E may be issued by the Company in an aggregate principal
amount of up to $2,500,000,000 and, to date, including this
offering, an aggregate of $1,281,150,000 Medium-Term Notes, Series
E has been issued and $1,281,150,000 are outstanding.
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