Press Release

Jefferies Expands Asia Equity Research Platform

Cynthia Meng to Lead Hong Kong and China TMT Equity Research

NEW YORK and HONG KONG, 20 January 2011 - Jefferies announced today the hiring of Cynthia Meng as a Managing Director and Head of Technology, Media and Telecommunications (TMT) Equity Research for Hong Kong and China. Based in Hong Kong, she will be responsible for managing the firm's TMT equity research focused on companies in Hong Kong and China.

Ms. Meng joins Jefferies from Bank of America Merrill Lynch, where she was a Senior Analyst covering the Greater China Telecommunications Services and Equipment sectors, and ranked #4 in the Institutional Investor 2010 All-China Equity Research Team.

Michael Alexander, CEO of Jefferies Asia, commented, "We are delighted to welcome Cynthia to our global equity research effort. TMT is an important focus area for our firm, and Cynthia's proven track record, strong institutional following and significant experience will allow Jefferies to globalize our leading TMT franchise and add incremental value to our institutional clients."

"Cynthia is a leading equity analyst in the TMT sector," added Christie Ju, Head of Hong Kong and China Equity Research at Jefferies. "Her joining Jefferies is the next step in the ongoing expansion of our Equities platform across Asia."

Jefferies is establishing a full-service equity sales, trading and research capability focused on Asia, including Hong Kong, Japan, Singapore, Korea and Taiwan. As part of this build-out, Jefferies announced recently the appointment of Ms. Ju as Head of Hong Kong and China Equity Research, and in July 2010 the addition of a number of key professionals as part of the firm's expansion, including Mr. Alexander as CEO of Jefferies Asia, Nilesh Jasani as Head of Asia-Pacific Research and Chris Shute as Head of Asian Sales and Sales Trading.

Jefferies recently initiated equity research coverage in Asia, adding over 30 companies in China and Hong Kong to its global coverage. These include companies within the China Property, China Conglomerate and China Consumer sectors. As part of the firm's ongoing build-out in Asia, Jefferies plans to continue to add analysts and expand coverage accordingly.

Prior to joining BAML, Ms. Meng was a Vice President and Equity Research Analyst at China International Capital Corporation (CICC), covering the Telecommunications industry. Prior to that, she held similar Equity Research roles at JP Morgan and Thomas Weisel Partners in Hong Kong and New York, respectively. Previously, she was a Management Consultant at Adventis Corporation, focusing on the Global Telecommunications, Computing and Media and Entertainment sectors. She received an MBA from the Kellogg Graduate School of Management at Northwestern University and a BA from Ningbo University in China.

Jefferies and its affiliates have more than 180 equity and fixed income research professionals in the U.S., Europe and Asia covering over 1,300 companies in the areas of aerospace & defense, clean technology, consumer, energy, financial services, gaming & leisure, healthcare, industrials, maritime, media & entertainment, real estate, technology, telecommunications and utilities.

Jefferies Group, Inc. (NYSE: JEF), a global securities and investment banking firm, has served companies and investors for 49 years.

For further information, please contact:

Tom Tarrant, Jefferies, 203 708 5989,
Desiree Maghoo, Jefferies, 44 20 7029 8085,