Abraham, Fruchter & Twersky, LLP Announces That It Has Been Retained to File a Class Action Lawsuit With Respect to Lehman Brothers Holdings Inc. Preferred Series J Stock

NEW YORK, NY--(Marketwire - September 25, 2008) - Abraham, Fruchter & Twersky, LLP has been retained to file a class action law suit on behalf of all persons who purchased the Preferred Series "J" Stock ("Lehman Preferred J") of Lehman Brothers Holdings Inc. (PINKSHEETS: LEHMQ) ("Lehman" or the "Company") from the date of the Company's public offering on February 5, 2008 (the "Offering"), and all purchasers traceable thereto (the "Class Period") against certain officers and directors of Lehman and certain Underwriters of the Offering, pursuant to Sections 11 and 15 of the Securities Act of 1933.

A complaint already filed asserts that Lehman's Prospectus contained both material misstatements and omissions, which Plaintiff and the Class relied upon to their detriment. The representations made in the Company's Prospectus were materially false and misleading because at the time of the Offering, Lehman was already suffering from several adverse factors that were not revealed and/or adequately addressed in the document; including the failure to set aside adequate allowances to cover the Company's ever increasing portfolio of underperforming sub-prime related products and to adequately write-down commercial and residential mortgage and real estate assets. These factors were already causing a material adverse affect on Lehman's business and directly led to Lehman's September 15, 2008 announcement that it was seeking protection under the Federal Bankruptcy Code in the largest bankruptcy filing in U.S. history.

Plaintiff is represented by Abraham Fruchter & Twersky LLP, which has expertise in prosecuting investor class actions. If you wish to serve as lead plaintiff, you must move the Court by November 24, 2008. To serve as lead plaintiff, you must meet certain legal requirements set forth in the applicable law and file appropriate papers with the Court. You do not need to seek appointment as a lead plaintiff in order to share in any recovery. Under certain circumstances, one or more Class members may together serve as lead plaintiff. You may retain Abraham Fruchter & Twersky LLP, or other counsel of your choice, to serve as your counsel in this action or you may choose to do nothing and remain an absent class member.

If you wish to discuss this action, participate in this lawsuit, or have any questions or concerns regarding this notice, or preservation of your rights, please contact:

Contact Information: Jeffrey S. Abraham Jack G. Fruchter Abraham, Fruchter & Twersky, LLP One Penn Plaza, Suite 2805 New York, N.Y. 10119 Telephone: (212) 279-5050 e-mail: Attorney Advertising. Prior Results Do Not Guarantee A Similar Outcome.