The New York Stock Exchange (NYSE) has announced the following in connection with today's market news and conditions with respect to Lehman Brothers. Lehman Brothers Holdings Inc. (“LBHI”) announced today that it intends to file a petition under Chapter 11 of the U.S. Bankruptcy Code with the United States Bankruptcy Court for the Southern District of New York. None of the broker-dealer subsidiaries or other subsidiaries of LBHI will be included in the Chapter 11 filing and all of the broker-dealers will continue to operate.
Lehman Brothers continues to be a member firm and a listed company of the New York Stock Exchange until further notice.

Trading of Lehman Brothers Stock
The stock of Lehman Brothers Holdings (LEH) is being traded today on NYSE Arca as of 4:00 a.m.

Lehman Specialist Unit
Effective immediately, Goldman Sachs will be assuming responsibility for NYSE-listed securities in which Lehman Brothers MarketMakers, a division of Lehman Brothers, has served as the specialist. Lehman specialist staff and technology will remain in place, and Goldman Sachs will oversee staff, trading and risk management.
Goldman Sachs will also be responsible for clearing activity of the Lehman specialist unit in these securities going forward.
This arrangement will remain in place until a more permanent alternative can be arranged. We will keep you apprised of further developments as we work to ensure a smooth transition as well as fair and orderly markets in all NYSE-listed securities.

Additional
NYSE Rule 48 is in effect today: pre-opening indications are not required.