Conwed Acquires NSW, LLCPurchase Expands Conwed Capabilities 

MINNEAPOLIS, Minn. (February 11, 2005)-Conwed, a leading provider of high-performance oriented square netting, today announced the acquisition of NSW, LLC, headquartered in Roanoke, Va. NSW manufactures products for filtration, food packaging, industrial parts protection, agricultural, and automotive industries. The terms of the acquisition were not disclosed.

"Our acquisition of NSW provides us with a complementary operation that will enable us to expand our reach in the marketplace and provide further value for customers," explained Mark Lewry, President and CEO. "As the leader in the marketplace, we've continuously reinvested in the business to offer a greater breadth of solutions."

Lewry also announced that NSW's President and CEO, Larry Ptaschek, will remain in place at NSW as will the entire senior management team. Conwed plans to retain all employees and keep the Roanoke facility in place.

 "We are pleased that NSW has joined Conwed and look forward to all we can accomplish," Ptascheck said. "We have a number of synergies that will make this union a success, including our focus on excellent customer service, product performance and development."

Together with NSW, the company will now have combined revenue of approximately $100 million and robust manufacturing capabilities that will accelerate Conwed's growth into additional markets.

Conwed will continue to pursue business growth through acquisitions.

Specifically, Conwed is pursuing companies for acquisition that produce extruded or oriented plastic products or specialize in markets, technologies or services that have a strategic fit with the company.  

About Conwed
Conwed is a global company, specializing in total netting solutions, from concept to commercialization. Headquartered in Minneapolis, Minnesota, Conwed manufactures a complete line of high-performance oriented square netting used in major markets ranging from consumer-packaged goods to building materials. A wholly owned subsidiary of Leucadia National Corporation (NYSE: LUK), Conwed markets products in the United States, Europe, Asia, and Latin America, and has four worldwide manufacturing plants. For more information visit

About NSW, LLC
Established in 1982, NSW is a leading manufacturer of extruded plastic diamond mesh. Headquartered in Roanoke, Virginia, NSW manufactures products for filtration, food packaging, industrial parts protection, agriculture, and automotive industries in North America. NSW is ISO 9001

Certified. For more information visit www.nswplastics.com