QUANTUMONLINE.COM SECURITY DESCRIPTION:  Lehman Brothers Holdings Inc., Nikkei 225 Index Call Warrants expiring 5/8/2007, with their performance linked to the Nikkei 225 Index. The warrants may be exercised any time after 7/10/2005 and a minimum of 500 warrants must be exercised at one time. Warrants that have not been exercised by the expiration date will be automatically exercised at that time. No payments will be made on the warrents prior to exercise and the warrants may expire worthless. When the warrants are exercised, the holder will receive the greater of zero and $66 times the final index level minus the strike price (which is equal to the initial index level) divided by the initial index level (which is 11192.17). The valuation date will be the first scheduled trading day after the exercise date and therefore the holder will not know be able to determine the final index level that will be used in determining the settlement value. If the final index level is less than or equal to the strike price, the settlement value will be zero. See the IPO prospectus for further information on the exercise process and the index call warrants 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