EXHIBIT 1


Approximately 31.8% of the common shares of Leucadia National Corporation
outstanding at March 26, 2003 (including shares issuable pursuant to currently
exerciseable warrants) is beneficially owned (directly and through family
members) by Ian M. Cumming, Chairman of the Board of Leucadia, and Joseph S.
Steinberg, a director and President of Leucadia (excluding an additional 1.9% of
the common shares of Leucadia beneficially owned by trusts for the benefit of
Mr. Steinberg's children, as to which Mr. Steinberg disclaims beneficial
ownership). Private charitable foundations independently established by each of
Messrs. Cumming and Steinberg each beneficially own less than 1% of the
outstanding common shares of Leucadia. Mr. Cumming and Mr. Steinberg each
disclaim beneficial ownership of the common shares of Leucadia held by their
respective charitable foundations. Mr. Cumming and Mr. Steinberg have an oral
agreement pursuant to which they will consult with each other as to the election
of a mutually acceptable Board of Directors. By virtue of their ownership of
Leucadia common shares and their positions with Leucadia, Mr. Cumming and Mr.
Steinberg may be deemed to share voting and dispositive powers with respect to
the 1,607,973 Shares beneficially owned by Leucadia.













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