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FOR IMMEDIATE RELEASE Jefferies Realigns Research Effort in Information Technology Services NEW YORK--(BUSINESS WIRE)--May 8, 2003-- Commercial IT Analyst Joe Vafi Assumes Coverage of Government IT Jefferies & Company, Inc., the principal operating subsidiary of Jefferies Group, Inc. (NYSE: JEF), today announced that Joseph A. Vafi, CFA, Senior Vice President and Senior Equity Research Analyst for Commercial Information Technology Services, will assume coverage of Government Information Technology Services as well. In addition to the twelve commercial IT services companies already under coverage, Mr. Vafi is in the process of transitioning to cover government IT companies. "Jefferies has expanded coverage of the IT services sector to include both commercial and government-oriented companies to address the expanding opportunities that exist as these markets continue to evolve," said Steven R. Black, Director of Equity Research. "With his extensive experience in commercial IT services, Joe Vafi brings a holistic view to the investment process as he continues to identify opportunities in both the commercial and government IT services areas." Mr. Vafi joined Jefferies last fall along with 20 other professionals from Robertson Stephens. He has a decade of experience covering the IT services sector. In addition to publishing company-specific investment research, Mr. Vafi has studied the ongoing evolution of the greater IT and outsourcing industry, identifying new and emerging growth opportunities for investors, including offshore outsourcing and the increasing acceptance of business process outsourcing by Global 2000 companies and government. Mr. Vafi has an MBA from Columbia University and a BA, magna cum laude, from Vanderbilt University. He is located in the firm's San Francisco office and reports to Mr. Black. 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 twelve percent of the daily reported volume on the NYSE. Through its subsidiaries, Jefferies Group, Inc. employs more than 1,350 people in 21 offices worldwide, including Atlanta, Boston, Chicago, Dallas, Hong Kong, London, Los Angeles, New York, Paris, San Francisco, Tokyo, Washington 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: SOURCE: Jefferies & Company, Inc. |
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