Wilmington Trust Company serves as successor trustee under the Indenture dated as of September 1, 1987 (as amended and supplemented, the "Indenture") between LBHI and the Trustee. Pursuant to the Indenture, certain senior unsecured debt obligations described herein (the "Senior Notes") were issued and are outstanding.

On September 15, 2008 and thereafter, LBHI and certain of its affiliates (collectively, "Lehman Brothers" or the "Debtors") filed for relief under chapter 11 of title 11 of the United States Code (the "Bankruptcy Code") in the United States Bankruptcy Court for the Southern District of New York. The Debtors cases were assigned to Judge James M. Peck and are jointly administered under Case No. 08-13555 (JMP). The bankruptcy filing constituted an Event of Default under the Indenture.