Client Money Update - Client Money Statements Open for Entitlement Confirmation - 30/04/2010

This update concerns the Client Money Statements-Post Court Directions which are  available on the Client Information Portal (the "Portal") for clients with potential claims to client money held by Lehman Brothers International (Europe) (in administration) ("LBIE") prior to the time of administration ("Pre-Administration Client Money").  For background information on the Portal and client money statements, including the updated Client Money Statements-Post Court Directions, please read our 8 September 2009, 2 December 2009 and 8 April 2010 updates.

Confirmation of Entitlements to be used for Interim Distribution:

The Joint Administrators are requesting that all clients with potential claims to Pre Administration Client Money confirm their entitlements via the client money portal. Clients can access statements detailing Pre-Administration Client Money entitlements calculated by the administrators, ("Client Money Statements-Post Court Directions") via the Portal.

Clients are reminded that no interim distribution from the client money pool can take place until appeal proceedings in respect of the client money application have been concluded.  However, timely confirmation of entitlements by clients will enable the Administrators to move expeditiously towards an interim distribution once the appeal process has been concluded. Confirmed entitlements are necessary as part of the distribution process to calculate amounts payable to clients.

Client money claimants with potential claims to Pre-Administration Client Money are encouraged to log on to the Portal, review their Client Money Statements-Post Court Directions and submit their confirmation as soon as possible.

Portal Log on Details:

We are aware that a significant number of potential Pre-Administration Client Money claimants who were sent letters from the Joint Administrators in early September 2009 containing log on details for the Portal have not yet accessed the information on the Portal.  We strongly encourage all potential Pre-Administration Client Money claimants to access the information on the Portal and to review their Client Money Statement-Post Court Directions and to submit their confirmation as soon as possible.  Please click here to access the Portal.

If you did not receive a letter from the Joint Administrators in early September containing your log on details for the Portal and believe you have a claim to Pre-Administration Client Money, please contact the clientpositionresponses@lbia-eu.com mailbox referencing your full client name and GAC code.

Please note that only authorised representatives of the legal entity to whom the September 2009 letters were sent are allowed to access the Portal on behalf of such entity. Under no circumstances should any other person access the Portal.  Any person logging onto the Portal will be required to make a representation that he/she is authorised on behalf of the relevant entity to access the confidential information contained in the Portal.

Should you have any questions regarding the content of this update, please do not hesitate to contact the Counterparty Communications and Management team at clientpositionresponses@lbia-eu.com.

The Joint Administrators will use the Portal for client specific communications alongside the PwC Client Money website, which will remain the Joint Administrators' primary tool for general communications regarding client money.