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CONSENT OF INDEPENDENT AUDITORS
We consent to the incorporation by reference in the Registration Statement of
Lehman Brothers Holdings Inc. (Form S-8, File No. 33-53923), pertaining to the
Lehman Brothers Holdings Inc. Tax Deferred Savings Plan (the "Plan"), of our
report dated June 20, 2000, with respect to the financial statements and
supplemental schedules of the Plan included in the Plan's Annual Report (Form
11-K) for the year ended December 30, 1999.
/s/ ERNST & YOUNG LLP
June 27, 2000
