Rule 424(b)(2)         	         
	Registration Nos. 333-14791
	NASD File No. 961029005
                                  Cusip No:  52517PLE9			
	          	
PRICING SUPPLEMENT NO. 260
Dated August 14, 1997, to Prospectus
Supplement dated August 11, 1997
and Prospectus dated August 11, 1997

	   LEHMAN BROTHERS HOLDINGS INC.
	Medium-Term Notes, Series E
	(Floating Rate)
       Due from Nine Months to 30 years from Date of Issue

Price to Public: 100.246%   Initial Interest Rate: 3 month Libor
Commission: .35%                            Telerate pg 3750
	           posted on 8/19/97
Interest Rate Basis:	                 	  
( ) Treasury Rate	 Original Issue Date: 8/21/97  
(X) LIBOR - T3750	 Maturity Date:       8/21/00
( ) Commercial Paper Rate	 Maximum Interest Rate:______% 
( ) Federal Funds Effective Rate	 Minimum Interest Rate:______%
( ) Prime Rate 	 Spread Multiplier:__________%
( ) Other 	 Spread (+ -) +.30%

Index Maturity: Quarterly

Interest Payment Period:	 Quarterly

Interest Reset Period:	Quarterly

Interest Reset Dates:	Same as coupon payment dates.

Interest Determination Dates: Two NY/London business days prior 
to interest reset dates.      
                      
Interest Payment Dates: 	Every 8/21; 11/21; 2/21 and 5/21-subject 
to modified following business day convention.

The aggregate principal amount of this offering is $10,000,000 
and relates only to Pricing Supplement No. 260. Medium-Term 
Notes, Series E may be issued by the company in aggregate 
principal amount of up to $10,267,500,000 and, to date, including 
this offering, an aggregate of $9,247,325,000 Medium-Term Notes, 
Series E has been issued and $5,455,890,000 are outstanding.