Jefferies Financial Group Inc. — Director's Dealing 2006

May 9, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LEUCADIA NATIONAL CORP (LUK)
CIK: 0000096223
Period of Report: 2006-05-05

Reporting Person: DOUGAN PAUL M (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-05-05	Common Shares	M	1500	$22.093	Acquired	8875	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-05-05	Option to Purchase Common Shares	$22.093	M	1500	Disposed	2006-06-06	Common Shares (1500)	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 June 6, 2002.

F3: Not Applicable.