Lehman Re Awarded Superior Mark

September 24, 2001

A.M. Best Co. assigned an “A+” FSR to Lehman Re Limited, Hamilton, Bermuda, a wholly owned subsidiary of Lehman Brothers Holdings Inc.

The rating reflects Lehman Re’s substantial capitalization, limited liabilities, advanced risk management capabilities and operating and strategic benefits, as an integral part of Lehman Brothers. Additionally, its financial obligations are guaranteed by Lehman Brothers. As part of Lehman Brothers’ Insurance Products Group, Lehman Re’s ratings are also based on depth, experience and management competence.

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