Lehman Brothers Ranked #1 in Institutional Investor's 2007 "All-America Research Team" Survey for Equity Analysts

18 October 2007
For the fifth consecutive year, Lehman Brothers ranked #1 in Institutional Investor magazine's annual "All-America Research Team" survey for equity analysts.*

With 44 ranked equity analysts, the Firm surpassed the #2-ranked Bear Stearns, with 38 ranked analysts, and #3-ranked Citigroup, with 37 ranked analysts. Of the 44 teams at Lehman Brothers, 11 were ranked as the best in their industry, 8 were second best, 11 were third best and 14 were runners up.

Institutional Investor's 2007 "All-America Research Team" survey results are based on responses from 2,600 investors and portfolio managers at more than 810 buy-side firms.

 * #1 ranking is based on the total number of team positions.