Jefferies Financial Group Inc. — Director's Dealing 2007

May 9, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LEUCADIA NATIONAL CORP (LUK)
CIK: 0000096223
Period of Report: 2007-05-09

Reporting Person: NICHOLS JESSE CLYDE III (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-05-09	Common Shares	M	3000	$11.743	Acquired	47756	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-04-26	Option to Purchase Common Shares	$11.743	M	3000	Disposed	2007-05-14	Common Shares (3000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	7420	Indirect
Common Shares	150830	Indirect

Footnotes

F1: These shares are held by minor children of Reporting Person and trusts for the benefit of the Reporting Person's minor
children.

F2: Consists of 128,554 shares held by a revocable trust for the benefit of the Reporting Person and 22,276 shares held by the
Reporting Person's wife (directly and indirectly) through a majority owned company.

F3: The stock options were granted under the Leudadia National Corporation 1999 stock option plan, as amended. Pursuant to their
terms, these options become exercisable at the rate of 25% per year commencing May 14, 2003.