Jefferies Financial Group Inc. — Director's Dealing 2005

Jan 13, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LEUCADIA NATIONAL CORP (LUK)
CIK: 0000096223
Period of Report: 2005-01-11

Reporting Person: DOUGAN PAUL M (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-01-11	Common Shares	M	7875	$15.21	Acquired	7875	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-01-11	Option to Purchase Common Shares	$15.21	M	7875	Disposed	2005-05-11	Common Shares (7875)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	150	Indirect

Footnotes

F1: Owned by Reporting person's wife.

F2: The stock options were granted under the Leucadia National Corporation 1999 Stock Option Plan. Pursuant to their terms, these
options become exercisable at the rate of 25% per year commencing May 16, 2001.

F3: Not applicable.