New Issue: Lehman sells $10 million 0.625% notes linked to Kroger

New York, Dec. 6 - Lehman Brothers Holdings Inc. priced $10 million of 0.625% five-year notes linked to the performance of Kroger Co. common stock, according to a filing with the Securities and Exchange Commission.

Issuer:	Lehman Brothers Holdings Inc.
Issue:	Performance-linked senior unsecured debt securities
Amount:	$10 million
Greenshoe:	$1.5 million
Maturity:	Dec. 11, 2007
Coupon:	0.625%, payable semi-annually
Price:	Par
Exchange premium:	37% over $15.713, average priced paid by Lehman to hedge notes
Exchange price:	$21.5268 in cash
Payout at maturity:	Greater of par or value at exchange price, in cash
Call:	Dec. 4, 2004 onwards at greater of par or exchange value, in cash
Underwriter:	Lehman Brothers
Pricing date:	Dec. 4
Settlement:	Dec. 11

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