Rule 424(b)(2)
Registration Nos. 333-14791
NASD File No. 961029005
AMENDED PRICING SUPPLEMENT NO. 238
Dated March 26, 1997, to Prospectus
Supplement dated February 5, 1997
and Prospectus dated October 31, 1996
LEHMAN BROTHERS HOLDINGS INC.
Medium-Term Notes, Series E
(Floating Rate)
Due from Nine Months to 30 years from Date of Issue
Price to Public: 100% Initial Interest Rate: One (1) Month
Agent's Commission: .60% LIBOR Telerate
posted on 4/2/97
Interest Rate Basis:
( ) Treasury Rate Original Issue Date: 4/4/97
( X) LIBOR - 1 month Maturity Date: 4/4/05
( ) Commercial Paper Rate Maximum Interest Rate:______%
( ) Federal Funds Effective Rate Minimum Interest Rate:______%
( ) Prime Rate Spread Multiplier:__________%
( ) Other Spread (+ -) +.45%
Index Maturity: Monthly
Interest Payment Period: Monthly
Interest Reset Period: Monthly
Interest Reset Dates: 4th of each Month
Interest Determination Dates: Two (2) London/NY business days prior
to interest payment dates
Interest Payment Dates: 4th of each Month and at maturity
The aggregate principal amount of this offering is $15,500,000 and
relates only to Amended Pricing Supplement No. 238. Medium-Term Notes,
Series E may be issued by the company in aggregate principal amount of
up to $9,517,500,000 and, to date, including this offering, an
aggregate of $8,067,825,000 Medium-Term Notes, Series E has been
issued and $4,524,890,000 are outstanding.
