The anachronistic expression "lo and behold," when used in the middle of a running sentence (of course, you have no context to judge by) has no congitive content. It is merely a mood setter. It means: what will follow calls for heightened attention. Examples:

She looked at him, and, lo and hehold, he wept.

فما كان منه إلا أن بكى
فإذا به يبكي

As you can see, the convoluted construction, does not add any new information. It merely intensifies the mood and heightens the attention.

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Note added at 2003-11-30 07:03:51 (GMT) Post-grading
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The word \"lo\" by itself is an interjection used \"to attract attention or show surprise\" (American Heritage Dictionary).

To behold is to look, see, or comprehend. When used in the imperative form, it becomes an interjection, just like \"lo.\" The use of the two words together is a case of redundancy for the sake of emphasis, and, through common use, has become a cliche. There are many such cliches involving redundancies in all languages. Examples:

ربة الحسن والجمال
اللهم فرقهم تفريقا ومزقهم تمزيقا واجعلهم طارئق قددا

And so on.