EXHIBIT 24

POWER OF ATTORNEY

Know by all these presents, that the undersigned hereby
constitutes and appoints each of Thomas A. Russo, Steven L.
Berkenfeld, Jeffrey A. Welikson and Karen B. Corrigan,
signing singly, the undersigned?s true and lawful
attorney-in-fact to:
1)  prepare, execute for and on behalf of the undersigned,
in the undersigned?s name, place and stead in any and all
capacities related to securities of Lehman Brothers Holdings
Inc. (the ?Company?), any and all filings by the
undersigned with the United States Securities and Exchange
Commission (the ?SEC?) (a) pursuant to Section 16 of
the Securities Exchange Act of 1934 and the rules thereunder,
as amended, and (b) pursuant to Rule 144 under the Securities
Act of 1933 and the rules thereunder, as amended,
and with respect to either of the foregoing clauses
(a) and (b), any other forms or reports the undersigned
may be required to file in connection with the undersigned?s
ownership, acquisition, or disposition of securities of the
Company, including, without limitation, Form ID;
2) do and perform any and all acts for and on behalf of the
undersigned which may be necessary or desirable to complete,
execute and deliver any such filing as described in
paragraph (1) above, or other form or report, and timely
file such form or report with the SEC and any stock
exchange or similar authority; and
3) take any other action of any type whatsoever
in connection with the foregoing which, in the opinion
of such attorney-in-fact, may be of benefit to, in the
best interest of, or legally required by, the undersigned,
it being understood that the documents executed by
such attorney-in-fact on behalf of the undersigned
pursuant to this Power of Attorney shall be in such form
and shall contain such terms and conditions as such
attorney-in-fact may approve in such attorney-in-fact?s
discretion.

The undersigned hereby grants to each such attorney-in-fact
 full power and authority to do and perform any and every
act and thing whatsoever requisite, necessary, or proper
to be done in the exercise of any of the rights and powers
herein granted, as fully to all intents and purposes
as the undersigned might or could do if personally present,
with full power of substitution or revocation, hereby
ratifying and confirming all that such attorney-in-fact,
or such attorney-in-fact?s substitute or substitutes, shall
lawfully do or cause to be done by virtue of this
power of attorney and the rights and powers herein
granted.  The undersigned acknowledges that the foregoing
attorneys-in-fact, in serving in such capacity at the request
of the undersigned, are not assuming, nor is the Company
assuming, any of the undersigned?s responsibilities to
comply with Section 16 of the Securities Exchange
Act of 1934 and the rules thereunder, as amended, or
Rule 144 under the Securities Act of 1933 and the
rules thereunder, as amended.

This Power of Attorney shall remain in full force and
Effect until the undersigned is no longer required to
file any such filing as described in paragraph (1)
above, unless earlier revoked by the
undersigned in a signed writing delivered to the
foregoing attorneys-in-fact.

IN WITNESS WHEREOF, the undersigned has caused
this Power of Attorney to be executed as of
April 9, 2008.

/s/ Jerry A. Grundhofer
Jerry A. Grundhofer