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FOR IMMEDIATE RELEASE Jefferies Transfers Research Coverage of Aerospace and Defense Companies; Liebowitz Assumes Coverage As Pearlstein Moves to Jefferies Asset Management NEW YORK--(BUSINESS WIRE)--June 1, 2004--Jefferies & Company, Inc., the principal operating subsidiary of Jefferies Group, Inc. (NYSE:JEF), today announced that Gary S. Liebowitz, CFA, will be promoted to Senior Equity Research Analyst to continue the firm's coverage of the Aerospace and Defense Industry. Mr. Liebowitz is a key member of the team formerly headed by Samuel J. Pearlstein, who recently received a Best on the Street Award in the 2004 Analysts Survey by The Wall Street Journal for coverage of the Aerospace and Defense Sector. Having followed the industry for over ten years, Mr. Pearlstein has been named to lead the research effort in this area at Jefferies Asset Management, LLC, a wholly owned subsidiary of Jefferies Group, Inc. In addition to maintaining equity research coverage of the industry, Jefferies & Company, Inc. remains focused on providing institutional sales and trading in aerospace and defense stocks. Through its Jefferies Quarterdeck division, the firm continues to offer a full range of investment banking services to aerospace and defense clients. "Gary Liebowitz has developed strong relationships on Wall Street and brings new energy and perspective to this important area for our firm," commented Steven R. Black, Director of Equity Research at Jefferies & Company, Inc. "He has already proven his ability to deliver meaningful insight on the aerospace and defense industry to institutional investors." Mr. Liebowitz has worked with Mr. Pearlstein in covering the Aerospace and Defense Industry for the past six years. Prior to joining Jefferies in May 2003, Mr. Liebowitz was an Associate Research Analyst at Wachovia Securities and, prior to that, at ING Barings. He is a CFA charterholder and a member of the New York Society of Security Analysts (NYSSA). Prior to earning his MBA in finance from New York University's Leonard N. Stern School of Business, Mr. Liebowitz was granted the CPA license from New York State in 1996. He earned his BBA in Public Accounting at Pace University. Mr. Liebowitz, who will assume coverage as of today, reports to Mr. Black and is based in Jefferies' New York headquarters. Andrew G. Sullivan, CFA will continue in his role as a Senior Research Associate in the aerospace and defense equity research team at Jefferies & Company. About Jefferies Jefferies, a global investment bank and institutional securities firm, has served middle-market and growth companies and their investors for over 40 years. Headquartered in New York with more than 20 offices around the world, Jefferies provides clients with capital markets and financial advisory services, institutional brokerage, research and asset management. The firm is a leading provider of trade execution in equity, high yield, convertible and international securities, serving institutional investors and high net worth individuals. Jefferies & Company, Inc. is the principal operating subsidiary of Jefferies Group, Inc. (NYSE:JEF; www.jefco.com), a publicly traded holding company. In 2002, Jefferies acquired Quarterdeck Investment Partners, a leading investment bank focused exclusively on the Aerospace and Defense Sector, which now operates as Jefferies Quarterdeck, a division of Jefferies & Company, Inc. CONTACT: SOURCE: Jefferies & Company, Inc. |
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