FOR IMMEDIATE RELEASE

Jefferies to Donate January 10th Trading Commissions to Tsunami Relief Efforts

NEW YORK, Jan 4, 2005 (BUSINESS WIRE) -- Jefferies & Company, Inc., the principal operating subsidiary of Jefferies Group, Inc. (NYSE: JEF), today announced that the firm will donate one day's trading revenues and commissions for relief efforts following the recent tsunami in Asia. The firm's net trading revenues and commissions from Monday, January 10th, will be given to relief efforts being coordinated by former Presidents Bush and Clinton. Jefferies conducted a similar effort to benefit victims of the 9/11 terrorist attacks in 2001.

"All of us at Jefferies would like to contribute to the courageous relief efforts in Asia to help those affected by this tragic event," commented Richard B. Handler, Chairman and Chief Executive Officer of Jefferies. "On January 10 our firm will work together with our clients to contribute to those in need."

"This tragic event has profoundly affected us all," added John C. Shaw, Jr., President of Jefferies. "This is our way, in conjunction with our clients, of using the Jefferies platform to help those in need."

About Jefferies

Jefferies, a global investment bank and institutional securities firm, has served mid-sized and growing 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, securities research and asset management. The firm is a leading provider of trade execution in equity, high yield, convertible and international securities for institutional investors and high net worth individuals. Jefferies & Company, Inc. is the principal operating subsidiary of Jefferies Group, Inc. (NYSE: JEF; www.jefco.com).

SOURCE: Jefferies & Company, Inc.

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