Leucadia National Corporation seeks HSR clearance to acquire 50% of MCI stock

July 12, 2004 Ashburn, VA--Long distance carrier MCI, Inc. today announced it received notice from Leucadia National Corporation that it intends to make a filing with the Federal Trade Commission (FTC) and the Department of Justice under the Hart-Scott-Rodino (HSR) Act seeking clearance to acquire at least 50% of MCI's common stock. MCI--formerly Worldcom--emerged from Chapter 11 bankruptcy on April 20.

The waiting period for the HSR filing would expire on or about August 9, 2004, unless the FTC grants early termination or requests additional information.

Leucadia National, a New York-based holding company, acquired WilTel Communications Group., Inc., in 2003.