Press Release

Jefferies Group, Inc. Announces Pricing of Public Offering of Common Stock

NEW YORK and LONDON, April 8, 2011 -- Jefferies Group, Inc. (NYSE: JEF) today announced that its underwritten public offering of common stock was priced at $24.25 per share. The offering included a total of 20,618,557 shares of Jefferies' common stock with net proceeds of $490,000,007.

Jefferies & Company, Inc., Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Natixis Securities North America Inc. are the joint book-running managers of this offering. BNY Mellon Capital Markets, LLC and BMO Capital Markets Corp. are acting as senior co-managers and Rabo Securities USA, Inc. is acting as co-manager.

This press release does not constitute an offer to sell or a solicitation of an offer to buy these securities, nor does it constitute an offer, solicitation or sale of these securities in any jurisdiction in which such offer, solicitation or sale is unlawful. The offering may be made only by means of a prospectus and a related prospectus supplement, copies of which may be obtained from Jefferies Customer Reporting Group at 34 Exchange Place, Plaza 3, Suite 705, Jersey City, NJ 07311 (201) 761-7610.

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:

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