Equities

With a long-established reputation for excellence, Lehman Brothers is one of the preeminent franchises in the global equity markets. Our expert team of traders, salespeople and origination specialists has built success by forming strong client partnerships based on our ability to provide the highest quality execution and distribution. Our traditional strengths in fundamental, quantitative and strategic research continue to provide the competitive advantage our clients seek.

Throughout 2007, we made significant progress in executing our growth and diversification strategy — balanced investments across regions, segments and products. For the fifth consecutive year, Lehman Brothers ranked #1 in Institutional Investor's U.S. equity research poll in 2007. We are developing a tradition of firsts: no other firm has achieved a #1 ranking in both Equity and Fixed Income research in the same year, and we have now done it five years running.

We continue to invest in our infrastructure, enhancing our trading platforms and ensuring the highest risk management standards. As our clients continue to seek opportunities beyond their home markets, we look to combine local expertise with a superior global infrastructure. This strategic combination has led us to hold top market share positions across major markets globally.

Recent Highlights:

Institutional Investor
 •  For the fifth consecutive year, Lehman Brothers ranked #1 in the "All-America Research Team" survey (2007)

International Financing Review
 •  In International Financing Review's Annual Awards, Lehman Brothers was recognized in association with five deal-related awards (2007)

Global Custodian
 •  Lehman Brothers received several top three rankings in the Global Custodian Prime Brokerage survey (2007)

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