Rule 424(b)(2)
Registration No. 333-75723
PRICING SUPPLEMENT NO. 3 dated May 5, 1999
to Prospectus Supplement dated April 30, 1999
and Prospectus dated April 30, 1999
LEHMAN BROTHERS HOLDINGS INC.
Medium-Term Notes, Series F
Due Nine Months or More From the Date of Issue
(Floating Rate)
Cusip No.: 52517PQA2
Principal Amount: $90,000,000
Price to Public: 100.00%
Agent's Commission: 0.350%
Original Issue Date: 05/07/99
Initial Interest
Rate Per Annum: 3 month Libor, Telerate p. 3750, posted
on 05/05/99
Spread: +0.70%
Index Maturity: Quarterly
Interest Payment Period: Quarterly
Interest Reset Period: Quarterly
Interest Reset Dates: Same as interest payment dates.
Interest
Determination Dates: Two London business days prior to each
interest reset date.
Interest Payment Dates: 02/07, 05/07, 08/07, and 11/07, commencing
08/09/99, subject to modified business day
convention.
Maturity Date: 05/07/02
Lehman Brothers Holdings Inc.
By:________________________
Name: Kathryn M. Bopp Flynn
Title: Senior Vice President
