EXHIBIT 1
                                                                      ---------

                                    AGREEMENT

           This will confirm the agreement by and among all the undersigned that
the Schedule 13D filed on or about this date with respect to the beneficial
ownership of the undersigned of shares of the common stock of Cresud Inc. is
being filed on behalf of each of the entities named below. This Agreement may be
executed in two or more counterparts, each of which shall be deemed an original,
but all of which together shall constitute one and the same instrument.


Dated: December 2, 2002

                                  NEAD CORPORATION

                                  BY: /s/ Joseph A. Orlando
                                      -----------------------------------------
                                      NAME: Joseph A. Orlando
                                      Title: Vice President



                                  LEUCADIA NATIONAL CORPORATION

                                  BY: /s/ Joseph A. Orlando
                                      -----------------------------------------
                                      NAME: Joseph A. Orlando
                                      Title: Vice President and
                                             Chief Financial Officer