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FOR IMMEDIATE RELEASE

Jefferies Group, Inc. Announces Management Conference Call To Discuss 2004 Second Quarter and First Half Financial Results

NEW YORK--(BUSINESS WIRE)--July 6, 2004--Jefferies Group, Inc. (NYSE:JEF - News) announced today a conference call with Management to discuss 2004 second quarter and first half financial results. Participants on the call will include: Richard B. Handler, Chairman and CEO; John C. Shaw, Jr., President; and Joseph A. Schenk, CFO. The conference call will be held at 11 AM Eastern on Tuesday, July 13, 2004 (date and time subject to change). For listen-only access to the management discussion, please call (617) 801-9714 ten minutes prior to the scheduled start time. A live audio webcast and a delayed replay will also be available at www.jefco.com and www.streetevents.com.

Jefferies' earnings press release will be distributed via Business Wire at approximately 8:30 AM Eastern on July 13, 2004. To view the release on or after July 13, 2004, please visit www.jefco.com. Questions for consideration by Management during the conference call can be submitted in advance through the "Contact Us" function at www.jefco.com or by calling 203-708-5975 by 9:00 AM Eastern on July 13th.

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 - News; www.jefco.com), a publicly traded holding company.

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

Source: Jefferies Group, Inc.

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