Jefferies

Press Release

FOR IMMEDIATE RELEASE
Jefferies Group, Inc. Sells an Additional $200 Million of Senior Debt

NEW YORK and LONDON, April 19, 2012 -- Jefferies Group, Inc. (NYSE: JEF) announced today the sale of an additional $200 million aggregate principal amount of its 6.875% senior notes due 2021. The notes were sold in a reopening of the Company's 6.875% senior notes due 2021, $400 million aggregate principal amount of which were issued on June 28, 2010, and $150 million aggregate principal amount of which were issued on July 19, 2010. Upon the consummation of this offering, the aggregate outstanding principal amount of Jefferies' 6.875% senior notes due 2021 will be $750 million.

The senior notes were priced to yield 7.046% at a spread of 509.2 basis points over the comparable US Treasury bonds. The Company's senior unsecured debt securities are rated Baa2(Stable)/BBB(Negative)/BBB(Stable) (Moody's/Standard & Poor's/Fitch). The expected closing date is April 24, 2012.

The 6.875% senior notes sold on April 19, 2012 and the previously issued 6.875% senior notes will be treated as a single series of debt securities.

Jefferies & Company, Inc. is the sole manager of this offering. A prospectus 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), the global investment banking firm focused on serving clients for 50 years, is a leader in providing insight, expertise and execution to investors, companies and governments. The firm provides a full range of investment banking, sales, trading, research and strategy across the spectrum of equities, fixed income, foreign exchange, futures and commodities, and also select asset and wealth management strategies, in the Americas, Europe and Asia.

For further information, please contact:  

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

This press release does not constitute an offer to sell or a solicitation of an offer to buy the notes nor shall there be any sale of the notes in any state or jurisdiction in which such offer, solicitation or sale would be unlawful. Offers will be made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement.