Jefferies Financial Group Inc. — Director's Dealing 2004

May 20, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LEUCADIA NATIONAL CORP (LUK)
CIK: 0000096223
Period of Report: 2004-05-17

Reporting Person: JORDAN JAMES E (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-05-17	Common Shares, par value $0.01 per share	M	8000	$22.8125	Acquired	38000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-05-17	Option to Purchase Common Shares	$22.8125	M	8000	Disposed	2005-05-16	Common Shares (8000)	Direct

Footnotes

F1: The stock options were granted under the Leucadia National Corporation 1999 Stock Option Plan. Pursuant to their terms, these
options became exercisable at the rate of 25% per year commencing May 16, 2001.

F2: Not applicable.