QUANTUMONLINE.COM SECURITY DESCRIPTION:  Lehman Brothers Holdings Inc., Index-Plus Notes linked to the performance of the S&P 500 Index (starting value 1,203.60 as of 2/28/2005) due 3/03/2010, issued in $1000 denominations. The notes will receive no payments before maturity and can not be redeemed prior to maturity. The valuation date is 2/26/2010. The upside participation rate is 107% and the threshold level is 722.16 - 60% of the initial index level. If the S&P 500 Index is above the initial index level on the valuation date, the holder will receive the greater of $1000 or $1000 times the increase in the S&P 500 Index level times the upside participation rate. If, at the valuation date, the final index level is less than the initial index level and the index level has never fallen below the threshold level at any time during the term of the notes then the holder will receive $1000. If the level of the index has declined below the threshold level at any time during the term of the notes, the holder will receive a payment of $1000 times the final index level divided by the initial index level. See page S-3 of the prospectus for further details of the maturity payment. The Notes are senior unsecured debt securities of Lehman Brothers Holdings (NYSE: LEH) and will rank equally with all of their other unsecured and unsubordinated debt. See the IPO prospectus for further information on the maturity payment and the Index-Plus Notes by clicking on the ‘Link to IPO Prospectus’ provided below.

Company's Online Information Links

HOME PAGE:     http://www.lehman.com/ (This parent company URL is for reference only and does not have specific information on the security.)

Company's Online SEC EDGAR Filings

Company's SEC EDGAR Filings

Go to SEC Filings

Company's Email Address Links

Inv Rel Email Address	sbutler@lehman.com
General Email Address	inquiry@lehman.com

Address and Phone Numbers

Address:   745 Seventh Avenue, 15th Floor, New York, NY 10019
Main Phone Number	212-526-7000
Fax Number	212-526-3738
Investor Relations   Shaun Butler	212-526-8381
Toll Free Phone Number	800-666-2388

CEO - Richard S. Fuld, Jr.

CFO - David Goldfarb