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LEUCADIA SELLS POSITION IN MOLINS FOR GAIN OF 19,000,000

 LEUCADIA SELLS POSITION IN MOLINS FOR GAIN OF 19,000,000
 NEW YORK, Nov. 26 /PRNewswire/ -- Leucadia National Corporation (NYSE-PSE: LUK) announced that it has sold its entire position in Molins PLC (a United Kingdom corporation) for cash of approximately $86,200,000. The sale will result in a gain of approximately $19,000,000 which will be reported in fourth quarter 1991 results of operations. Leucadia's position represented approximately 48.5 percent of Molins' outstanding share capital.
 Leucadia National Corporation is a holding company for its consolidated subsidiaries engaged in life insurance (through Charter National Life Insurance Company of St. Louis, First Charter Life Insurance Company of New York, Colonial Penn Life Insurance Company, Colonial Penn Annuity and Life Insurance Company and Intramerica Life Insurance Company), property and casualty insurance (through Colonial Penn Insurance Company, Colonial Penn Heritage Insurance Company and Colonial Penn Franklin Insurance Company), manufacturing (principally through its Leucadia, General Marble and Electri-cord divisions) and banking and lending (principally through American Investment Bank, N.A. and AJC Financial Services, Inc.). Through its approximately 62 percent interest in PHLCORP, Inc. the company is also engaged in trading stamps (through The Sperry and Hutchinson Company, Inc.), motivation services (through S&H Motivation, Inc.) and property and casualty insurance. (through Empire Insurance Company and Allcity Insurance Company). The company also currently has equity interests of more than 5 percent in the following domestic publicly owned companies: Carmike Cinemas, Inc. (10 percent of class A shares), Jones Plumbing Systems, Inc. (19 percent), Olympus Capital Corporation (24 percent) and Transportation Capital Corp. (16 percent).
 -0- 11/26/91
 /CONTACT: R. Klindtworth of Leucadia National, 212-460-1900/
 (LUK) CO: Leucadia National Corporation ST: New York IN: FIN SU: TNM


SH-OS -- NY025 -- 7213 11/26/91 10:33 EST
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Publication:PR Newswire
Date:Nov 26, 1991
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