Lehman Brothers Financial SA (LEHNQ)

[highwaymap]

I personally do not want the NOLs anymore. You might want to be in parity with the most senior preference shares of LBHI but, I want to be in parity with the most senior preference shares of LBHI's Affiliate Neuberger Berman and give me that $25 per share redemption value. I will take the $25 per share over the NOLs any day. LOL

The Important Covenants of LBH is/are powerful. Our Subordinated Guarantee covers both affiliates and subsidiaries. The subordinated Guarantee as a whole basically states that aside from debt, we are not to be inferior or subordianted to any of LBHI's, its affiliate's or subsidiary's most senior preference shares and definitely above all common shares. So, any equity transaction you see out there, LBIE, ECAPs, etc. we are in parity with.

****************** "Its that simple." ********************