Rule 424(b)(2)
Registration Nos. 333-50197
NASD File No. 961029005
Cusip #: 52517PPX3
PRICING SUPPLEMENT NO. 348
Trade Date: March 25, 1999 to Prospectus
Supplement dated May 4, 1998
and Prospectus dated May 4, 1998
LEHMAN BROTHERS HOLDINGS INC.
Medium-Term Notes, Series E
(Fixed Rate)
Due from Nine Months to 30 Years from Date of Issue
Pricing to Public: 100.00%
Agent's Commission: .250%
Original Issue Date: 04/08/99
Interest Rate Per Annum: 7.00%
Interest Payment Dates: Monthly on the 8th, commencing on May 8, 1999
Maturity Date: 04/18/14
Call Option: The Issuer has the right to call the Issue every two
years at par on or after the First Call Date. Call Notice is 30
calender days.
First Call Date: April 8, 2001
These Notes, issued under Pricing Supplement No. 348, may be sold in
minimum denominations of $1,000, or any amount in excess thereof
which is an integral multiple of $1,000.
The aggregate principal amount of this offering is $35,000,000 and
relates only to Pricing Supplement No. 348. Medium-Term Notes,
Series E are not limited as to a total amount authorized. To date,
including this offering, an aggregate of $17,714,204,288 Medium-Term
Notes, Series E has been issued and an aggregate $9,666,287,201 are
outstanding.
The Agent has purchased the Notes as principal in this transaction
and may resell any of such Notes to another broker/dealer (acting as
principal for the purposes of resale) at a discount, which may vary
from the discount received by the Agent in such transaction.
Lehman Brothers Holdings
By:________________________
Name: Kathryn M. Bopp Flynn
Title: Senior Vice President
