Press Release

Jefferies Declares Quarterly Dividend

NEW YORK, September 20, 2011 -- Jefferies Group, Inc. (NYSE: JEF) announced today that, on September 19, 2011, its Board of Directors declared a quarterly dividend of $0.075 per share of common stock, payable on November 15, 2011 to stockholders of record on October 17, 2011.

Jefferies Group, Inc. (NYSE: JEF) is the global investment banking firm focused on serving clients for nearly 50 years. The firm is a leader in providing insight, expertise and execution to investors, companies and governments, and provides a full range of investment banking, sales, trading, research and strategy across the spectrum of equities, fixed income and commodities, in the U.S., Europe and Asia.

For further information, please contact:

Peregrine C. Broadbent
Chief Financial Officer
Jefferies Group LLC
(212) 284-2338