Lehman Brothers holds a prominent position as one of the world's leading Fixed Income franchises. The Firm has built an unrivaled reputation marked by excellence in execution, research and product innovation. Our franchise combines superior trading and execution capabilities with top-ranked research and indices, and our global distribution network is uniquely suited to meet the complex financing and investment needs of its clients.

In 2007, our Fixed Income business continued to partner with clients on some of their most important transactions (see link at right for selected recent transactions). International Financing Review magazine named Lehman Brothers its European Leveraged Finance House for the second time in two years, and Institutional Investor ranked the Firm #1 for the eighth consecutive year in its "All-America Fixed-Income Research" poll.

Recent Highlights:

		Institutional Investor
		•  For the eighth year in a row, Lehman Brothers ranked #1 in the "All-America Fixed-Income Research Team" survey (2007)  •  Received several top positions in "European Fixed Income Research" survey (2008)

		International Financing Review
		•  Lehman Brothers was named European Leveraged Finance House of the Year and associated with five deal-related awards (2007)

		Credit				The Asset
		•  Recognized in "U.S. and European Credit Awards" (2007)				•  Received "Triple A Derivatives and Structured Product Awards" (2007)

What Lehman Brothers Offers:
The Firm remains a leading global market maker in numerous products, including U.S., European and Asian government securities, money market products, corporate high grade and high yield securities, mortgage- and asset-backed securities, preferred stock, municipal securities, bank loans, foreign exchange, financing and derivative products. Lehman Brothers' Global Family of Indices provides comprehensive performance and risk measurements for all major bond markets and are used by over 90% of U.S. investors, a majority of European investors and a growing share of Asian investors.

Lehman Brothers also offers a variety of fixed income related services including security financing, futures clearing, prime brokerage, derivative servicing, risk management and fixed income analytics consulting. The Firm's clients benefit from industry-leading technology applications including the LehmanLive® Web site, POINT^SM, SmartTicket and LOGIC.