Lehman Brothers Holdings Inc. (fka LEHMQ)

[coach tequila]

Brikk asked me to give some updated estimates on what I was thinking for the Assets and Liabilities.

Realize that these are just my thoughts and that each investor needs to do his/her own research and decisions.

As of the 12/31/08 Balance Sheet you have the following:

Assets = Approx. $295B

Liablites = Approx. $325B

We know that the marketplace bottomed in March of 2009. From that point we also know certain facts. Mainly that the S&P Leveraged Loan Index and High Yield Corporate Bonds are up 30-50% from the March lows.

If we use a 15% increase to the Asset portfolio (which is very conservatively marked according to Mr. Marsal) you get a new asset number of $347B.

We also know that in order for Trusts/Preferreds to get 100% of Face Value ($25 or $50)that it would take approx. $11B. Add that to the Liabilities of $325 and you get a number like $336B to cover the Trusts/Preferreds Face Value in total.

This does not take into account the claims, derivatives, legal actions etc.

We should see a new balance sheet coming in November according to the court dockets from the period extending the reorg timeframe.

Just my opinion...please make your own decisions.

Coach T