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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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<SEC-DOCUMENT>0000806085-04-000009.txt : 20040120
<SEC-HEADER>0000806085-04-000009.hdr.sgml : 20040119
<ACCEPTANCE-DATETIME>20040120165507
ACCESSION NUMBER:		0000806085-04-000009
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040115
FILED AS OF DATE:		20040120

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			GREGORY JOSEPH M
		CENTRAL INDEX KEY:			0001227423

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-09466
		FILM NUMBER:		04533056

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		212 526 0858

	MAIL ADDRESS:	
		STREET 1:		C/O LEHMAN BROTHERS HOLDINGS INC.
		STREET 2:		745 SEVENTH AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LEHMAN BROTHERS HOLDINGS INC
		CENTRAL INDEX KEY:			0000806085
		STANDARD INDUSTRIAL CLASSIFICATION:	SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211]
		IRS NUMBER:				133216325
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1130

	BUSINESS ADDRESS:	
		STREET 1:		LEHMAN BROTHERS
		STREET 2:		745 SEVENTH AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		2125267000

	MAIL ADDRESS:	
		STREET 1:		LEHMAN BROTHERS
		STREET 2:		745 SEVENTH AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SHEARSON LEHMAN HUTTON HOLDINGS INC
		DATE OF NAME CHANGE:	19901017
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>c0001227423d20040120f4f.xml
<DESCRIPTION>PRIMARY DOCUMENT
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ue>4000</value></transactionShares><transactionPricePerShare><value>82.85</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>D</value></transactionAcquiredDisposedCode></transactionAmounts><postTransactionAmounts><sharesOwnedFollowingTransaction><value>355965.8872</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership><natureOfOwnership><value></value></natureOfOwnership></ownershipNature></nonDerivativeTransaction></nonDerivativeTable><derivativeTable><derivativeTransaction><securityTitle><value>February 2000 Options</value><footnoteId id="F2"/></securityTitle><conversionOrExercisePrice><value>31.625</value></conversionOrExercisePrice><transactionDate><value>2004-01-15</value></transactionDate><deemedExecutionDate></deemedExecutionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>M</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transaction
Coding><transactionAmounts><transactionShares><value>300000</value></transactionShares><transactionPricePerShare><value>0</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>D</value></transactionAcquiredDisposedCode></transactionAmounts><exerciseDate><footnoteId id="F3"/></exerciseDate><expirationDate><value>2005-02-17</value></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><value>300000</value></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>300000</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership><natureOfOwnership><value></value></natureOfOwnership></ownershipNature></derivativeTransaction></derivativeTable><footnotes><footnote id="F1">Applicable taxes due upon exercise of stock options paid by withholding of shares.</footnote><
footnote id="F2">Formerly titled "2000 MOP96 Option-February 2000."</footnote><footnote id="F3">Exercisable as of August 18, 2004, provided that the options became exercisable sooner in one-third increments when the market price of the Issuer's Common Stock equaled or exceeded certain thresholds for certain periods.  Such price targets were met during the fiscal year ended November 30, 2000.</footnote></footnotes><ownerSignature><signatureName>Jeffrey A. Welikson, Attorney-in-fact</signatureName><signatureDate>2004-01-20</signatureDate></ownerSignature></ownershipDocument>

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