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November 2009

KPMG's Paul Brough, Edward Middleton and Patrick Cowley, the Liquidators of the eight Hong Kong Lehman entities, have filed 268 claims due to Lehman Brothers Holdings Inc, (LBHI) the Group's ultimate parent company and 19 US debtors, in respect of amounts owed to the Hong Kong entities.

This includes "catch all" claims against LBHI and the 19 US Debtors, in order to be able to pursue claims where the quantum is uncertain and/or any case where LBHI and the 19 US debtors may have provided further guarantees, and/or in the event of new evidence supporting a claim that the Liquidators were not previously aware of.

The claims have been filed in accordance with an agreed bar date of November 2, 2009, which was approved by the US bankruptcy Court on 25 August, 2009.

Of these claims some have not been quantified to date, including but not limited to derivatives trades and damage related claims. For claims that are quantifiable, the amount totals US$11.7 billion and mainly includes failed trade and inter-company non-trading claims.

The Liquidators will continue to adjust the quantum of claims as inter-company reconciliations work advances and other investigations are completed.

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© KPMG, a Hong Kong partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved.

© KPMG Advisory (China) Limited, a wholly foreign owned enterprise in China and KPMG Huazhen, a Sino-foreign joint venture in China, are member firms of the KPMG network of independent member firms affiliated with KPMG International Cooperative, a Swiss entity. All rights reserved.