FINWIRE®

Lehman Brothers closes $2 billion committed unsecured three-year facility

March 25th, 2008

Lehman Brothers Holdings Inc. (NYSE: LEH) announced that today it closed its $2 billion committed unsecured three-year revolving credit facility.

The facility was substantially oversubscribed with 40 banks participating in the facility.

According to Paolo Tonucci, global treasurer of Lehman Brothers, the three-year credit facility replaces the existing three-year facility and was successfully co-led by JPMorgan Chase Bank and Citibank with a participant group that include many of the largest banks in the world.

“We are extremely pleased with the success of the syndicated facility and view this as a strong signal from the market and our key bank relationships,” Mr. Tonucci said.

“Liquidity and capital management continue to be core competencies that have enabled the Firm to be well-positioned in challenging environments.”

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