Leucadia National Corporation Announces First Quarter 2007 Results

Leucadia National Corporation (NYSE:LUK) today announced its operating results for the three month period ended March 31, 2007. Net income was $8,374,000 or $.04 per diluted common share for the three month period ended March 31, 2007 compared to net income of $80,693,000 or $.36 per diluted common share for the three month period ended March 31, 2006. For more information on the Company’s results of operations for the first quarter of 2007, please see the Company’s Form 10-Q for the three months ended March 31, 2007, which was filed with the Securities and Exchange Commission today. SUMMARY FOR LEUCADIA NATIONAL CORPORATION AND SUBSIDIARIES (In thousands, except earnings per share amounts) (Unaudited)   For the Three Month Period Ended March 31,   2007    2006    Revenues and other income $ 197,185  $ 291,608    Net securities gains $ 15,921  $ 38,714    Income (loss) from continuing operations before income taxes and equity in income of associated companies $ (8,796) $ 111,539    Income taxes   (3,732)   42,679    Income (loss) from continuing operations before equity in income of associated companies (5,064) 68,860    Equity in income of associated companies, net of taxes   12,925    13,729    Income from continuing operations 7,861  82,589    Income (loss) from discontinued operations, including gain (loss) on disposal, net of taxes   513    (1,896)   Net income $ 8,374  $ 80,693      Basic earnings (loss) per common share: Income (loss) from continuing operations $ .04  $ .38  Income (loss) from discontinued operations, including gain (loss) on disposal, net of taxes   –    (.01) Net income $ .04  $ .37    Number of shares in calculation   216,409    216,112    Diluted earnings (loss) per common share: Income (loss) from continuing operations $ .04  $ .37  Income (loss) from discontinued operations, including gain (loss) on disposal, net of taxes   –    (.01) Net income $ .04  $ .36    Number of shares in calculation   216,779    231,765