Investment Banking Carbon Emissions - Climate Change

LEHMAN BROTHERS APPOINTS
GLOBAL HEAD OF CARBON EMISSIONS

LONDON, 26 September 2007
Lehman Brothers, the global investment bank, today announced the appointment of Laurent Segalen as managing director, global head of Carbon Emissions, responsible for structuring and origination. Mr. Segalen will be based in London and
report to Henrik Wareborn, managing director and head of Commodities, Europe.
Mr. Segalen joins Lehman Brothers from Natixis, where he was managing director of the
European Carbon Fund and was responsible for the structuring, placement and management of the €142m fund. He has previously worked at PwC where he was the leader of the climate change business.

“As carbon emissions trading becomes an increasingly important aspect of managing the
challenge of climate change, the opportunities for participating in this market are set to grow exponentially. Lehman Brothers has been a participant in this market since inception, and with the appointment of Laurent we are looking to position our operation to effectively service our clients in this strategic sector of the global energy market,” said Mr. Wareborn.

Lehman Brothers is engaged in efforts to find environmentally sustainable solutions and to develop market-based mechanisms in response to the threat posed by climate change including a strong and growing platform in underwriting, advising and investing in renewable energy companies. In addition, in February 2007, the Firm established the Council on Climate Change, which will bring together clients, policy-makers, academics and non-governmental officials to facilitate constructive dialogue through summits in New York, London and Tokyo. On 20 September 2007, Lehman Brothers published “The Business of Climate Change II,” a direct response to the principal question posed by the Firm’s clients: what policies are likely to be enacted in the name of climate change?

Lehman Brothers’ commodities business complements the Firm’s existing strength in natural resources and energy investment banking, and covers a full range of sales, trading and structured finance in commodities globally. The Firm’s commodities business has operations in the world’s main commodities hubs.

Based on media release
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