Leucadia National Corporation Announces Nine Month 2009 Results

Leucadia National Corporation (LUK – NYSE) today announced its operating results for the nine month period ended September 30, 2009. Net income attributable to Leucadia National Corporation common shareholders for the nine month periods ended September 30, 2009 and 2008 was $641,215,000 ($2.61 per diluted common share) and $180,416,000 ($.76 per diluted common share), respectively. Net income attributable to Leucadia National Corporation common shareholders for 2009 included income from discontinued operations of $23,805,000 ($.10 per diluted common share).

For more information on the Company’s results of operations for 2009, please see the Company’s Form 10-Q for the nine months ended September 30, 2009, which was filed with the Securities and Exchange Commission today.


SUMMARY FOR LEUCADIA NATIONAL CORPORATION AND SUBSIDIARIES (In thousands, except per share amounts) (Unaudited)

	For the Three Month						For the Nine Month
	Period Ended September 30,						Period Ended September 30,
		2009			2008			2009			2008

Revenues and other income	$	280,801		$	251,616		$	815,467		$	914,019

Net securities gains (losses)	$	9,583		$	(65,547	)	$	(20,251	)	$	(38,220	)

Loss from continuing operations before income taxes and
income related to associated companies	$	(32,062	)	$	(109,071	)	$	(244,074	)	$	(177,679	)

Income taxes		1,680			(38,753	)		6,503			(297,814	)

Income (loss) from continuing operations before income
related to associated companies		(33,742	)		(70,318	)		(250,577	)		120,135

Income related to associated companies, net of taxes		379,517			159,666			867,203			60,050

Income from continuing operations		345,775			89,348			616,626			180,185

Income from discontinued operations, net of taxes		23,805			–			23,805			–

Net income		369,580			89,348			640,431			180,185

Net loss attributable to the noncontrolling interest		619			114			784			231

Net income attributable to Leucadia National Corporation
common shareholders	$	370,199		$	89,462		$	641,215		$	180,416

Basic earnings per common share attributable to
Leucadia National Corporation common shareholders:
Income from continuing operations	$	1.42		$	.38		$	2.56		$	.79
Income from discontinued operations		.10			–			.10			–
Net income	$	1.52		$	.38		$	2.66		$	.79

Number of shares in calculation		243,238			232,849			240,913			228,723

Diluted earnings per common share attributable to
Leucadia National Corporation common shareholders:
Income from continuing operations	$	1.40		$	.37		$	2.51		$	.76
Income from discontinued operations		.10			–			.10			–
Net income	$	1.50		$	.37		$	2.61		$	.76

Number of shares in calculation		247,711			249,452			247,946			245,499

Leucadia National (LUK)

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