Rule 424(b)(2)                   
                            Registration Nos. 33-65674
                            NASD File No. 930707011            
PRICING SUPPLEMENT NO. 52
Dated May 25, 1994, to Prospectus
Supplement dated March 4, 1994
and Prospectus dated October 4, 1993

               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: 99.779%        Initial Interest Rate:  5.275% 
Agent's Commission: .50%                      
Interest Rate Basis:                           
(  ) Treasury Rate           Original Issue Date: 5/27/94  
( X) LIBOR - 3 month         Maturity Date: 5/20/99        
(  ) Commercial Paper Rate   Maximum Interest Rate:______% 
(  ) Federal Funds Effective Rate      Minimum Interest Rate:______%
(  ) Prime Rate              Spread Multiplier:__________%
(  ) Other (see attached)    Spread (+ -) +.65%     

Index Maturity: 3 month

Interest Payment Period:      Quarterly                              

Interest Reset Period:   Quarterly                         

Interest Reset Dates:    Twentieth (20th) of every February, May 
                    August, November

Interest Determination Dates: Two (2) London business days             
                         prior to interest payment dates         
                  
Interest Payment Dates: Twentieth (20th) of every February, May 
                   August, November and Maturity                 
      
The aggregate principal amount of this offering is $200,000,000 and
relates only to Pricing Supplement No. 52. Medium-Term Notes, Series E
may be issued by the company in aggregate principal amount of up to
$2,500,000,000 and, to date, including this offering, an aggregate of
$1,997,150,000 Medium-Term Notes, Series E has been issued and
$1,997,150,000 are outstanding.

Commencing May 20, 1996, and on every Interest Payment Date thereafter
the Issuer  has the option to redeem the Note to which this Pricing
Supplement relates in whole at 100% of the principal amount thereof plus
interest accrued thereon to the date of such redemption by giving notice
in accordance with the provisions  of the Prospectus Supplement to which
this Pricing Supplement relates.