8-K

                       SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549


                                   ----------


                                    FORM 8-K


                                 CURRENT REPORT


                     PURSUANT TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934


        DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED) October 1, 2004


                                LIGHTBRIDGE, INC.
               (EXACT NAME OF REGISTRANT AS SPECIFIED IN CHARTER)


        DELAWARE                   000-21319                     04-3065140
(STATE OR OTHER JURISDIC-         (COMMISSION                 (IRS EMPLOYER
TION OF INCORPORATION)            FILE NUMBER)              IDENTIFICATION NO.)


               30 CORPORATE DRIVE, BURLINGTON, MASSACHUSETTS 01803
               (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)


        REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE (781) 359-4000


                                 NOT APPLICABLE
          (FORMER NAME OR FORMER ADDRESS, IF CHANGED SINCE LAST REPORT)



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FOLLOWING PROVISIONS:

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    (17 CFR 230.425)

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    (17 CFR 240.14a-12)

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    ACT (17 CFR 240.13e-4(c))








ITEM 8.01. OTHER EVENTS.


On October 4, 2004, Lightbridge, Inc., a Delaware corporation ("Lightbridge" or
the "Company"), announced it had closed the sale of its Fraud Centurion (R)
product suite pursuant to an agreement with India-based Subex Systems Limited.

The full text of the Company's press release reporting the sale is attached as
Exhibit 99.1 to this report and incorporated herein by reference.

ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.

 (c) EXHIBITS.

99.1   Press Release dated October 4 2004, entitled "Lightbridge Announces Sale
of Fraud Centurion Software and Assets."


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Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.



                                LIGHTBRIDGE, INC.


                                By: /s/ Timothy C. O'Brien
                                    -------------------------------------------
                                    Timothy C. O'Brien
                                    Vice President, Finance and Administration,
                                    Chief Financial Officer and Treasurer


October 4, 2004

EX-99.1

                                                                    Exhibit 99.1

[LIGHTBRIDGE
   LOGO]

  LIGHTBRIDGE ANNOUNCES CLOSING OF SALE OF FRAUD CENTURION SOFTWARE AND ASSETS

BURLINGTON, MASS.--Oct. 4, 2004 --Lightbridge, Inc. (Nasdaq:LTBG), a leading
value-added transaction processing company, today announced it has closed the
sale of its Fraud Centurion (R) product suite pursuant to an agreement with
India-based Subex Systems Limited.

As previously announced, Lightbridge continues to offer robust fraud solutions
for the wireless industry and other high-volume transaction markets faced with
the challenge of reducing fraud and bad debt risk. Lightbridge's proven fraud
screening solutions leverage the Company's decisioning engine, modeling and
analytics expertise.

For more information on Lightbridge fraud solutions and other Lightbridge
products and services, visit www.lightbridge.com

About Subex Systems

Subex Systems is a global telecom software product company partnering with
telcos to maximize revenue by offering comprehensive and flexible solutions. An
ISO 9001 certified company; Subex has a global presence across North America,
Europe, Africa and Asia. It is also among the top ten software product companies
in India. Subex went public with an IPO in July 1999. Intel Capital is a
strategic investor in Subex since March 2003. For more information, please
visit, www.subexgroup.com

About Lightbridge

Lightbridge, Inc., is a leading transaction processing company that businesses
trust to manage customer transactions. Lightbridge adds value to fraud
prevention, credit qualification, payment authorization, billing, and enhanced
voice and data services. Lightbridge solutions leverage intelligent automated
systems and human expertise, delivered primarily through the efficiencies and
cost savings of an outsourced business model. Businesses around the world use
Lightbridge to make smarter decisions, deliver better services, provide secure
payments, reduce costs and enhance the lifetime value of their customers. For
more information, visit www.lightbridge.com or call 1-800-LIGHTBR.

CONTACT:
Lightbridge, Inc.
Lynn Ricci (Investor Relations)
781-359-4854
lricci@lightbridge.com


Glen Zimmerman (Media Relations)
781-359-4705
gzimmerman@lightbridge.com

FORWARD-LOOKING STATEMENTS

Certain statements in this news release that are not historical facts,
including, without limitation, those relating to the Company's plans and
strategies for the future are forward-looking statements that involve risks and
uncertainties. Such statements are based upon the current beliefs and
expectations of the management of the Company. Actual results may vary
materially from those contained in forward-looking statements based on a number
of factors including, without limitation, (i) dependence on a limited number of
clients, (ii) the Company's revenue concentration in the wireless
telecommunications business and the declining subscriber growth rate in that
business, (iii) continuing rapid change in the telecommunications industry,
payment processing industry, and other markets in which the Company does
business that may affect both the Company and its clients, (iv) current and
future economic conditions generally and particularly in the telecommunications
industry, (v) uncertainties about the Company's ability to execute on, and about
the impact on the Company's business and operations of, its objectives, plans or
strategies as a result of potential technological, market or competitive
factors, or the acquisition of Authorize.Net, (vi) the impact of restructuring
and other charges on the Company's business and operations, (vii) risks
associated with acquisitions and divestitures including, without limitation, the
inability to timely achieve the anticipated benefits therefrom and the impact on
the Company's financial results and operations, and (viii) the factors disclosed
in the Company's filings with the U.S. Securities and Exchange Commission
including, without limitation, its 2003 Annual Report on Form 10-K and Quarterly
Report on Form 10-Q for the quarter ended June 30, 2004. The Company undertakes
no obligation to update any forward-looking statements.