Rule 424(b)(2)
Registration Nos. 333-50197
NASD File No. 961029005
Cusip #: 52517PPT2
PRICING SUPPLEMENT NO. 344
Trade Date: February 1, 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: 0.350%
Original Issue Date: 02/16/99
Interest Rate Per Annum: 6.50%
Interest Payment Dates: Monthly on the 16th, commencing on 3/16/99
Maturity Date: 02/16/09
Call Option: The Issuer has the right to call the Issue semi-
annually at par on or after the First Call Date. Call Notice is 30
calender days.
First Call Date: February 16, 2002
These Notes, issued under Pricing Supplement No. 344, 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 $40,000,000 and
relates only to Pricing Supplement No. 344. Medium-Term Notes,
Series E are not limited as to a total amount authorized. To date,
including this offering, an aggregate of $17,034,204,288 Medium-Term
Notes, Series E has been issued and $9,832,497,201 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
