FOR IMMEDIATE RELEASE

Jefferies Adds Senior Investment Banker; Lane Genatowski, Managing Director, to Head New Global Power Group

NEW YORK, Oct 3, 2002 (BUSINESS WIRE) -- Jefferies & Company, Inc., the principal operating subsidiary of Jefferies Group, Inc. (NYSE: JEF), today announced that S. Lane Genatowski has joined as a Managing Director and will head a new Global Power Group in the firm's Investment Banking Department.

The focus of the group will be on US power companies operating both globally and domestically, including regulated and unregulated utility companies and other related concerns. Mr. Genatowski will be based in the firm's New York headquarters.

"Lane Genatowski is an exceptional professional with outstanding experience," commented Richard B. Handler, Chairman and Chief Executive Officer of Jefferies. "As Jefferies' business continues to diversify and expand, we remain focused on hiring professionals with established relationships who are motivated by our entrepreneurial platform."

John C. Shaw, Jr., President of Jefferies, added, "Lane's relationships in the global power industry, combined with our firm's expertise in the trading and research of power companies, extends an important industry focus for Jefferies."

"I'm excited to be part of Jefferies' entrepreneurial culture and thriving investment banking practice," said Mr. Genatowski. "Jefferies' leading capabilities in all aspects of the capital markets, including the restructuring process, will provide real value for power companies."

Before joining Jefferies, Mr. Genatowski spent approximately twenty years providing investment banking services to clients in the power industry while at Kidder, Peabody & Co., J.P. Morgan, Chase and most recently Banc of America Securities, LLC, where he was Head of the Power Group and a member of that firm's Equity Commitment Committee. Mr. Genatowski has a Juris Doctor from Fordham University School of Law and an undergraduate degree from City University of New York.

About Jefferies

Jefferies & Company, Inc., the principal operating subsidiary of Jefferies Group, Inc. (NYSE: JEF), is a full-service investment bank and institutional securities firm focused on the middle market. Jefferies offers financial advisory, capital raising, mergers and acquisitions, and restructuring services to small and mid-cap companies. The firm provides outstanding trade execution in equity, high yield, convertible and international securities, as well as fundamental research and asset management capabilities, to institutional investors. Additional services include correspondent clearing, prime brokerage, private client services and securities lending. The firm's leadership in equity trading is recognized by numerous consulting and survey organizations, and Jefferies' affiliate, Helfant Group, Inc., executes approximately 10% of the daily reported volume on the NYSE.

Through its subsidiaries, Jefferies Group, Inc. employs more than 1,300 people in 20 offices worldwide, including Atlanta, Boston, Chicago, Dallas, Hong Kong, London, Los Angeles, New York, Paris, San Francisco, Tokyo and Zurich. Further information about Jefferies, including a description of investment banking, trading, research and asset management services, can be found at www.jefco.com.

CONTACT:
Jefferies & Company, Inc.
Tom Tarrant, 203/708-5989
ttarrant@jefco.com