Press Release

Jefferies Expands International Credit Business
Frank Cerveny Joins in London

NEW YORK and LONDON, July 1, 2011 – Jefferies announced today the expansion of its European Credit trading group with the addition of Frank Cerveny who joins as a Managing Director and Co-Head of the International Credit Business based in London.

“We are pleased to welcome an established professional like Frank to Jefferies,” commented Jon Pliner, Co-Head of Jefferies’ International Credit Business. “His addition is part of the ongoing enhancement of our Fixed Income platform and is demonstrative of Jefferies’ commitment to providing our institutional clients with best-in-class fixed income product, strategy and trading on a global basis. As we bring together our European Credit, Emerging Markets and Asian Credit businesses, Frank will play a key role spearheading our distribution effort for this exciting growth area.”

Jefferies’ broader fixed income business now has nearly 525 professionals globally who are focused on the sales, trading and origination of investment grade and high yield bonds, U.S. and European government and agency securities, repo finance, mortgage- and asset-backed securities, municipal bonds, whole loans, leveraged loans, distressed securities and emerging markets debt.

Mr. Cerveny brings to Jefferies 25 years of experience and joins the firm from Credit Suisse, where he spent nearly 20 years and was a Managing Director and a former Head of Credit Sales. He was also a member of Credit Suisse’s Credit Operating Committee, and a Trustee of the Credit Suisse Charitable Foundation. Frank received his MBA from Harvard Business School and a BA from Dartmouth College.

Jefferies Group, Inc. (NYSE: JEF), a global securities and investment banking firm, has served companies and investors for nearly 50 years.

For further information, please contact:

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