Jefferies Financial Group Inc. — Director's Dealing 2004

Sep 30, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LEUCADIA NATIONAL CORP (LUK)
CIK: 0000096223
Period of Report: 2004-09-29

Reporting Person: CUMMING IAN M (Director, Chairman of the Board, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-09-29	Common Shares	M	55000	$23.95	Acquired	8935483	Direct
2004-09-29	Common Shares	M	50000	$23.95	Acquired	170312	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-09-29	Warrants to Purchase Common Shares (Right to Buy)	$23.95	M	55000	Disposed	2005-05-16	Common Shares (55000)	Direct
2004-09-29	Warrants to Purchase Common Shares (Right to Buy)	$23.95	M	50000	Disposed	2005-05-16	Common Shares (50000)	Indirect

Footnotes

F1: Consists of common shares beneficially owned by the Reporting Person's wife (directly and through trusts for his children of
which his wife is trustee).

F2: Consists of warrants owned by the Reporting Person's wife (through trusts for his children of which his wife is trustee).

F3: Not applicable.