Jefferies

Press Release

FOR IMMEDIATE RELEASE
Jefferies Expands Global Investment Banking Business

Peter Bacchus Appointed Joint Head of European Investment Banking and Global Head of Metals and Mining Investment Banking

Richard Allan Joins as European Head of Metals and Mining Investment Banking

LONDON and NEW YORK, March 16, 2011 - Jefferies announced today the addition of Peter Bacchus, who joins the firm as Joint Head of European Investment Banking and Global Head of Metals and Mining Investment Banking. In addition five other investment bankers will join the Metals and Mining Investment Banking Group, including Richard Allan, who joins as a Managing Director and European Head of Metals and Mining Investment Banking. Messrs. Bacchus and Allan and these other members of the Metals and Mining Investment Banking Group will be based in the firm’s London office.

In his role as Joint Head of European Investment Banking, Mr. Bacchus will partner with Dominic Lester, Joint Head of European Investment Banking and European Head of Technology and Telecommunications Investment Banking.

"The Metals and Mining Sector represents a large, rapidly growing and worldwide opportunity for Jefferies in investment banking,” commented Benjamin D. Lorello, Global Head of Investment Banking and Capital Markets at Jefferies. “Peter’s significant experience in providing strategic and financing advice to many of the world’s leading metals and mining companies, his outstanding reputation with clients, and his skills as a leader and builder uniquely qualify him to lead our Global Metals and Mining effort and jointly run our European investment banking business with Dominic. The significant presence we will now have in Global Metals and Mining will also be highly accretive to our successful U.S. presence in Steel and Metals Investment Banking led by Peter Scott, Managing Director who is based in New York."

"I am very pleased to welcome Peter and Richard and the metals and mining team to Jefferies and look forward to partnering with Peter as we continue to build our European investment banking business,” added Dominic Lester, Joint Head of European Investment Banking of Jefferies International. “Their considerable track record in advising and executing complex transactions, along with their extensive relationships with clients globally, will add immediate value to our investment banking franchise."

Mr. Bacchus brings to Jefferies 20 years of investment banking experience and joins the firm from Morgan Stanley, where he was a Managing Director and Global Head of Metals and Mining Investment Banking. Previously, he served as a Managing Director at Citigroup where he was Head of Asia-Pacific Industrials Investment Banking and Co-Head of Global Metals and Mining Investment Banking based in Sydney, Jakarta and London. Mr. Bacchus started his career as a Chartered Accountant at Price Waterhouse after a period with the Foreign and Commonwealth Office in the U.S. He received his MA from Cambridge University.

Mr. Allan brings to Jefferies over 13 years of metals and mining investment banking experience, and joins the firm from Morgan Stanley where he was a Managing Director in the Metals and Mining Investment Banking Group. Mr. Allan received his Bachelor of Commerce degree from the University of New South Wales and is a member of the Institute of Charted Accountants in Australia.

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, ttarrant@jefferies.com
Desiree Maghoo, Jefferies, 44 20 7029 8085, dmaghoo@jefferies.com