Press Release

Jefferies Expands Municipal Securities Business
Jerome Doyle Joins in Municipal Securities Trading

NEW YORK, May 3, 2011 – In the continued development of the firm's Fixed Income Division, Jefferies today announced the appointment of Jerome Doyle as a Managing Director in Municipal Securities Trading. He is based in the firm's New York office and focuses on high net worth, middle markets and electronic trading platforms.

“We are very pleased to welcome Jerome to Jefferies and believe he is a strong addition to our team,” commented James McGinley, Head of Municipal Markets at Jefferies. “His proven track record, product experience and strong industry relationships will significantly enhance our Municipal trading capabilities and continue to grow this important segment of our Fixed Income business.”

“Jerome’s hire is an important step in the development of our group, furthering our ability to provide best execution for our issuer clients,” added Kenneth D. Gibbs, President of the Municipal Securities Group at Jefferies.

Jefferies’ Municipal Securities Group is comprised of more than 100 professionals focused on the banking, sales and trading of municipal securities. With professionals across the U.S., Jefferies offers significant access and coverage in all areas of public finance.

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

Mr. Doyle joins Jefferies from UBS, where he spent 13 years and was most recently a Managing Director and Manager of that firm’s Northeast Municipal Trading Group. Previously, he was a Vice President for Municipal Trading at PaineWebber, and started his career in Municipal Trading at Kidder Peabody. He received a BS in Finance from the Wharton School of Business at the University of Pennsylvania.

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,