SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

NICHOLS JESSE CLYDE III

(Last)

(First)

(Middle)

C/O LEUCADIA NATIONAL CORPORATION

315 PARK AVENUE SOUTH

(Street)

NEW YORK

10010

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
LEUCADIA NATIONAL CORP [ LUK ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
04/02/2008

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Shares	04/02/2008		M		3,000	A	$12.847	156,830	I	_
Common Shares	04/02/2008		M		2,250	A	$15.56	159,080	I	_
Common Shares	04/02/2008		M		1,000	A	$18.025	160,080	I	_
Common Shares	04/02/2008		M		1,000	A	$30.78	161,080	I	_
Common Shares	04/02/2008		F		2,456	D	$49.81	158,624	I	See Explanation⁽¹⁾
Common Shares								42,228	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Options to Purchase Common Shares	$12.847	04/02/2008		M			3,000	⁽²⁾	05/13/2008	Common Shares	3,000	$0	0	D
Options to Purchase Common Shares	$15.56	04/02/2008		M			2,250	⁽²⁾	05/11/2009	Common Shares	2,250	$0	750	D
Options to Purchase Common Shares	$18.025	04/02/2008		M			1,000	⁽²⁾	05/17/2010	Common Shares	1,000	$0	1,000	D
Options to Purchase Common Shares	$30.78	04/02/2008		M			1,000	⁽²⁾	05/16/2011	Common Shares	1,000	$0	3,000	D

Explanation of Responses:

1. Consists of 136,348 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). respectively).

2. The stock options were granted under the Leucadia National Corporation 1999, stock option plan, as amended. Pursuant to their terms, these options become exercisable at the rate of 25% per year commencing one year after the date of grant (05/13/04, 05/11/05, 05/17/06, 05/16/07,

	Jesse Clyde Nichols, III	04/04/2008
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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