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THE PHILADELPHIA STOCK EXCHANGE TO COMMENCE TRADING OF ONE NEW OPTION ON THURSDAY, NOVEMBER 2

For more information, contact Barbara Sorid at 215-496-5200 or by e-mail


PHILADELPHIA — November 1, 2006 -The Philadelphia Stock Exchange (PHLX) announced today that it will begin trading one new option beginning Thursday, November 2. The following option was allocated to Timber Hill Inc.:

Leucadia National Corp. (option/stock symbol: LUK) will trade on the March expiration cycle with initial expiration months of November, December, January, March and June. Position and exercise limits have been set at 150,000 contracts until January 19, 2009, then the limits will revert to 75,000 contracts.

The Philadelphia Stock Exchange was founded in 1790. The PHLX trades 1,943 stocks, 2,287 equity options, 16 sectors index options and currency options and futures. For more information about the PHLX and its products, visit www.phlx.com.


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