James Mercurio - Morgan Stanley

Leucadia National Corporation is a holding company that, through its subsidiaries, engages in telecommunications, health care services, manufacturing, banking and lending, real estate and winery businesses. As of August 2005, Leucadia was valued at more than 4 billion dollars. The company s highest profile move to-date was a bid in 2004 to acquire 50 percent of telecommunications company MCI's common stock. Leucadia National Corporation is headquartered in New York, but has additional offices in Salt Lake City.