Rule 424(b)(2)         	         
	Registration Nos. 333-50197
	NASD File No. 961029005
                                  Cusip No:  52517PPP0			          
	
AMENDMENT TO PRICING SUPPLEMENT NO. 340
Trade Date: September 22, 1998 to Prospectus
Supplement dated May 4, 1998
and Prospectus dated May 4, 1998

	   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: 100.00%   Initial Interest Rate: 5.63594%
Commission: 0%                            

Interest Rate Basis:	                 	  
( ) Treasury Rate	 Settlement Date: 9/22/98  
(X) LIBOR (1 month)	 Maturity Date:   10/22/99
( ) Commercial Paper Rate	 Maximum Interest Rate:______% 
( ) Federal Funds Effective Rate	 Minimum Interest Rate:______%
( ) Prime Rate 	 Spread Multiplier:__________%
( ) Other 	 Spread (+ -) +.05%

Index Maturity: Monthly

Interest Payment Period:	 Monthly

Interest Reset Period:	Monthly

Interest Reset Dates:	Same as interest payment dates.

Interest Determination Dates: Two London business days prior to 
interest reset dates.      
                      
Interest Payment Dates:  Monthly on the 22nd, commencing on 
October 22, 1998, subject to modified following business day 
convention.

The aggregate principal amount of this offering is $33,000,000 
and relates only to Pricing Supplement No. 340. Medium-Term 
Notes, Series E are not limited as to a total amount authorized .  
To date, including this offering, an aggregate of $16,325,204,288 
Medium-Term Notes, Series E has been issued and $11,327,844,288 
are outstanding.