Client Assets Update - Modification of the Claim Resolution Agreement - 15/03/2010

This update relates to the Claim Resolution Agreement (the "Agreement"), which was declared effective on 29 December 2009 by Lehman Brothers International (Europe) (in administration) ("LBIE") in respect of certain of its clients and counterparties.  Further background information in relation to the Offer and the Agreement is set out in our update of 24 November 2009.  Capitalised terms not defined in this update shall have the meaning given to them in the Agreement.

The Joint Administrators hereby notify you of the following minor modification to the Agreement, which is being made in accordance with Clause 80.3 of the Agreement.  This modification reflects events that have occurred since 29 December 2009.

1. Modifications to the Claim Resolution Agreement

The definition of "AssignCo" on page III-131 shall be replaced with:

""AssignCo" means Laurifer Limited, a company incorporated under the laws of Jersey, having its registered office at Whiteley Chambers, Don Street, St Helier, Jersey JE4 9WG."

2. Implementation

A copy of the Agreement modified for the above shall be posted on the website in due course.

3. Further information

In the event that you require further information with regard to Laurifer Limited particularly, please send an email to generalqueries@lbia-eu.com.

Please continue to check this website for information on matters relating to the administration of LBIE.

Please direct any questions you have to generalqueries@lbia-eu.com.