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Leucadia National Corporation Indicates Current Intention to Tender Common Shares of Inmet Mining Corporation to Bid by First

  Leucadia National Corporation Indicates Current Intention to Tender Common
  Shares of Inmet Mining Corporation to Bid by First Quantum Minerals Ltd.

Business Wire

NEW YORK -- January 10, 2013

Leucadia National Corporation (NYSE: LUK) announced today that it has filed a
report with Canadian securities regulators disclosing that, based on current
publicly available information, and in the absence of changed circumstances or
new information (including an alternative transaction that would provide
greater value), Leucadia would intend to tender the common shares of Inmet
Mining Corporation that it owns to the take-over bid that has been made by
First Quantum Minerals Ltd. for all of the common shares of Inmet. Leucadia
may be considered to beneficially own 11,042,413 (approximately (15.92%)) of
the outstanding common shares of Inmet for purposes of applicable Canadian
securities laws.

                                  * * * * *

This press release may contain “forward-looking statements” within the meaning
of the “safe harbor” provisions of the Private Securities Litigation Reform
Act of 1995. Although Leucadia believes any such statement is based on
reasonable assumptions, there is no assurance that actual outcomes will not be
materially different. These forward-looking statements are subject to risks
and uncertainties that may cause actual results to differ materially. For a
discussion of factors that may cause results to differ, see Leucadia’s reports
filed with the Securities and Exchange Commission, including its Quarterly
Report on Form 10-Q for the quarter ended September 30, 2012 and its Annual
Report on Form 10-K, as amended, for the year ended December 31, 2011. These
forward-looking statements speak only as of the date hereof. Leucadia
disclaims any intent or obligation to update these forward-looking statements.

Leucadia National Corporation, with its principal business address at 315 Park
Avenue South, New York, New York 10010, is a holding company engaged in a
variety of businesses. MK Resources LLC, with its principal business address
at 315 Park Avenue South, New York, New York 10010, is an indirect
wholly-owned subsidiary of Leucadia National Corporation. MK Resources LLC is
the record holder of 10,663,576 of the Inmet common shares (representing
approximately 15.37% of the issued and outstanding Inmet common shares)
beneficially owned by Leucadia.

A copy of the early warning report to be filed by Leucadia under applicable
Canadian securities laws in connection with the information in this press
release may be obtained from Laura E. Ulbrandt, Corporate Secretary at
212-460-1900.

Contact:

Leucadia National Corporation
Laura Ulbrandt, 212-460-1900