Rule 424(b)(2)
Registration Nos. 333-50197
NASD File No. 961029005
Cusip No: 52517PPE5
PRICING SUPPLEMENT NO. 331
Trade Date: July 22, 1998 to Prospectus
Supplement dated May 4, 1998
and Prospectus dated May 4, 1998
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: 100.00% Initial Interest Rate: USD Prime Rate
Agent's Commission: .25% Telerate pg 125
Posted on 7/27/98
Interest Rate Basis:
( ) Treasury Rate Settlement Date: 7/27/98
( ) LIBOR (1 month) Maturity Date: 7/27/00
( ) Commercial Paper Rate Maximum Interest Rate:______%
( ) Federal Funds Effective Rate Minimum Interest Rate:______%
(X) Prime Rate Spread Multiplier:__________%
( ) Other Spread (+ -) -2.65%
Index Maturity: Daily
Interest Payment Period: Quarterly
Interest Reset Period: Daily
Interest Reset Dates: Daily - Rate will freeze two business days
prior to coupon payment dates.
Interest Determination Dates: Daily as further described in the
Prospectus Supplement.
Interest Payment Dates: October 27, January 27, April 27, and
July 27, subject to modified following business day convention.
The aggregate principal amount of this offering is $53,000,000
and relates only to Pricing Supplement No. 331. Medium-Term
Notes, Series E are not limited as to a total amount authorized.
To date, including this offering, an aggregate of $15,781,204,288
Medium-Term Notes, Series E has been issued and an aggregate of
$10,851,844,288 is outstanding.
Lehman Brothers Holdings
By:________________________
Name: Marc A. Silverman
Title: Treasurer