Lehman Brothers Holdings Inc. Names Matthew Cantor Executive Vice President of Legal Affairs and Chief General Counsel

  Lehman Brothers Holdings Inc. Names Matthew Cantor Executive Vice President
  of Legal Affairs and Chief General Counsel

                 Ken Grossman to Replace Cantor on LBSF Board

Business Wire

NEW YORK -- October 19, 2012

Lehman Brothers Holdings Inc. (LBHI) announced today that it has named Matthew
Cantor, a prominent bankruptcy attorney and investment manager, as its
Executive Vice President of Legal Affairs and Chief General Counsel. Cantor
will step down as a director on the board of Lehman Brothers Special Finance
(LBSF) and be replaced by Ken Grossman, an accomplished veteran investor in
troubled and distressed credit products and special situations.

In this newly created role, Cantor will head the legal department, coordinate
the company's legal functions and oversee all litigation matters, bringing his
proactive and strategic approach to the many complex legal matters in which
the company is involved.

“The LBHI Board has been very clear in its objective to obtain the best
results possible for creditors, negotiating settlements when possible and
vigorously pursuing litigation when justified and necessary,” said Cantor.
“The broad scope and complex nature of the pending legal issues present a
compelling opportunity, and I look forward to working with the outstanding
lawyers at the company.”

John Suckow, LBHI’s President and CEO, said: “Matt Cantor is an outstanding
lawyer and strategic thinker. His insight and experience will be important as
we continue our aggressive efforts to maximize asset values and mitigate

Cantor has been a partner at the law firms of Weil, Gotshal & Manges and
Kirkland & Ellis, and during his legal career has represented debtors,
creditors and investors in bankruptcy cases and workouts. Most recently, he
was a founding principal of Normandy Hill Capital, an investment manager
focusing on distressed, event-driven credit and special situations.

Ken Grossman, who has joined the LBSF board in Cantor’s place, previously
served as President and a Director of Signature Group Holdings, Inc. and as a
Managing Director at Ramius, LLC, an $11 billion multi-strategy fund. He was
also a member of the Management Committee at Del Mar Asset Management and a
portfolio manager at Alpine Associates and Balfour Investors.

Suckow added: "We are fortunate to have been able to attract a director at
LBSF with Ken's experience and investment and legal acumen."

Ken is currently a director of T-Ink, Inc., a leading developer of interactive
and conductive inks. He has served on numerous creditor and shareholder
committees and holds a Juris Doctorate degree from the National Law Center at
George Washington University.


Media Contacts:
Lehman Brothers Holdings Inc.
Kimberly Macleod, 646-285-9215
Linden Alschuler Kaplan Public Relations
Steven Alschuler, 212-575-4545
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