Administrative Actions on Lehman Brothers Japan Inc.

(1) Order of retention of assets within Japan

Lehman has to retain certain assets within Japan that equivalent to all liabilities excluding liabilities to overseas (including guarantees).

(2) Business Improvement Order

• i) Get hold of investors and assets deposited from investors precisely.

• ii) Take necessary measures to assure deposited assets from investors and not to use-up your property unreasonably.

• iii) Take full measures for investor protection, with considering fair treatment among investors.

• iv) Try to keep every investors informed appropriately about retention of deposited assets, and consider proper correspondence to investors.