Lehman Brothers Treasury Announces Launch of Partial Wind-Down and Related Consent Solicitation

AMSTERDAM–(BUSINESS WIRE)–Lehman Brothers Treasury Co. B.V. in liquidation (“LBT”) today,
through its U.S. counsel Kramer Levin Naftalis & Frankel LLP, announced
that, in furtherance of its previously announced partial wind-down and
in preparation of a final distribution, LBT has launched a solicitation
process pursuant to which certain qualified noteholders will have the
option to receive substitute notes in exchange for their eligible notes.

Those creditors of LBT who are not eligible (or do not elect) to receive
substitute notes will receive a final cash distribution from LBT funded
in large part with the proceeds of the sale of a portion of LBT’s
intercompany claim against Lehman Brothers Holdings Inc..

For more information on the partial wind-down, including information
about the intercompany claim sale, the final cash distribution, the
substitute notes, eligibility requirements, and anticipated timelines,
an Information Notice will be posted to LBT’s website at www.lehmanbrotherstreasury.com.

The foregoing is subject to further consents and authorizations and LBT
retains sole discretion to abandon or otherwise discontinue any
solicitation or sale process at any time. Accordingly, there can be no
assurances that either the solicitation or the sale process will be
conducted or consummated, or if conducted or consummated, the timing
thereof. There also can be no assurance as to the amount of cash
distributions, if paid, now or in the future.

LBT does not undertake to publicly update its disclosure to reflect
developments in this matter.


Niels Huurdeman, Houthoff
Tel: + 31 20 605 65 56
Eggermann, Kramer Levin Naftalis & Frankel LLP
Tel: +

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