In an effort to dispel rumors about its financial health, Lehman Brothers on Monday disclosed its exposure to hedge funds, emerging markets, and commercial mortgage-backed securities.

The country's fourth-largest investment bank said it has total credit exposure to hedge funds of $447 million, collateralized by $583 million, primarily in cash, U.S. Treasuries, and U.S. agency notes. Lehman said that it has $72 million in uncollateralized exposure, and that its largest hedge fund credit is $10 million.

The firm's gross mark-to-market exposure to Long-Term Capital Management LP is $32 million, which is secured by $41 million of U.S. Treasuries.

The firm said it has $305 million in emerging markets exposure, including $157 million in Latin American countries, $99 million in Europe, and $49 million in Asia.

The firm said it has securitized - taken off its balance sheet - $6.5 billion of mortgages this year, including an August offering of $2.25 billion.

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