Rule 424(b)(2)
Registration Nos. 33-62085
                                 NASD File No. 950825005

PRICING SUPPLEMENT NO. 150
Dated May 3, 1996, to Prospectus
Supplement dated February 23, 1996
and Prospectus dated October 30, 1995


                   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%     Initial Interest Rate:  One (1) Month
Agent's Commission: .15%                          LIBOR Telerate
                                                 posted on 5/3/96
Interest Rate Basis:
(  ) Treasury Rate                 Original Issue Date: 5/8/96
( X) LIBOR - 1 month               Maturity Date: 6/6/97 (1)
(  ) Commercial Paper Rate         Maximum Interest Rate:______%
(  ) Federal Funds Effective Rate  Minimum Interest Rate:______%
(  ) Prime Rate                    Spread Multiplier:__________%
(  ) Other                         Spread (+ -) +.10% (2)

Index Maturity: 1 month
                                                                      
Interest Payment Period:  Monthly

Interest Reset Period:   Monthly

Interest Reset Dates: 8th of every month

Interest Determination Dates: Two (2) London/NY business days prior
                              to interest payment dates

Interest Payment Dates: 8th of every month, except 6/6/97, and at
maturity

(1)  Each holder has the right to extend the maturity of the notes, or
any portion thereof having a principal amount of $1,000, or any
multiples of $1,000, in excess thereof by delivering a notice to such
effect to the trustee on any business day during the period beginning
May 8, 1997 up to and including May 23, 1997.  If holder exercises its
right to extend, the extended maturity date shall be May 8, 1998

(2)  The initial margin shall equal 10 basis points.  The Issuer may
adjust the Interest Margin effective June 6, 1997, provided that the
Issuer shall have notified beneficial holders of any Interest Margin
Adjustment on May 8, 1997

The aggregate principal amount of this offering is $100,000,000 and
relates only to Pricing Supplement No. 150. Medium-Term Notes, Series
E may be issued by the company in aggregate principal amount of up to
$6,267,500,000 and, to date, including this offering, an aggregate of
$5,056,400,000 Medium-Term Notes, Series E has been issued and
$2,324,765,000 are outstanding.