NOTIFICATION OF THE REMOVAL FROM LISTING AND REGISTRATION

NYSE Arca, Inc. (the 'Exchange') hereby notifies the SEC of its intention to
remove the entire classe of the following security issued by Lehman Brothers
Holdings, Inc. (the 'Company') from listing and registration on the Exchange
at the opening of business on March 30, 2009:

Opta Exchange-Traded Notes due February 25, 2038 Linked to the S&P
Private Equity Index Net Return (the 'Securities')


This action is being taken pursuant to the provisions of Rule 12d2-2(b),
because, in the opinion of NYSE Regulation, the Securities are no longer
suitable for continued listing and trading on the Exchange.  The Exchange's
action is being taken in view of the Company's September 15, 2008, filing
of a petition under Chapter 11 of the U.S Bankruptcy Code with the United
States Bankruptcy Court for the Southern District of New York.

NYSE Regulation noted the uncertainty as to the timing and outcome of the
bankruptcy process as well as the ultimate effect of this process on the
Company's equity holders. In this regard, the NYSE Regulation considered the
Company's September 16, 2008, announcement regarding the definitive agreement
signed with Barclays Capital to acquire substantially all of the North American
business and operating assets of Lehman Brothers, Inc., a wholly-owned
subsidiary,and certain related assets of the Company and its affiliates.


1. NYSE Arca Equities Rule 5.2(j)(6)(B)(I)(2)(c)(iii) states that the Exchange
will commence delisting or removal proceedings if a condition exists which in
the opinion of the Exchange makes further dealings on the Exchange
inadvisable.

2. NYSE Regulation on September 17, 2008, determined that the Securities
should be suspended immediately from trading, and directed the preparation
and filing with the Commission of this application for the removal of the
Securities from listing and registration on the Exchange. The Company was
notified verbally on September 17, 2008 and by letter on September 18, 2008.

3. Pursuant to the above authorization, a press release was immediately issued
on September 17, 2008 of the suspension of trading in the Securities. Similar
information was included on the Exchange's website.

4. The Company had a right to appeal to the Committee for Review of the Board
of Directors of NYSE Regulation the determination to delist its securities,
provided that it filed a written request for such a review with the Secretary
of the Exchange within ten business days of receiving notice of delisting
determination. The Company did not file such request within the specified
time period.