FOR IMMEDIATE RELEASE

Jefferies International Ltd Appoints Head of Equity Research Sales; Caspar Shand-Kydd to Lead Growing Effort in the UK and Europe

NEW YORK--(BUSINESS WIRE)--Aug. 10, 2005--Jefferies International Limited, a subsidiary of Jefferies Group, Inc. (NYSE: JEF), today announced the hiring of two senior research sales professionals, formerly of Dresdner Kleinwort Wasserstein. Caspar Shand-Kydd will lead the development of Jefferies' UK equity product and is joined by James Chataway.

The team will distribute UK equity research to UK, European and US clients, with an initial focus on the UK energy, gaming/leisure, biotech, and technology sectors. These additions complement Jefferies' global research and sales offerings, and deepen the firm's overall effort to serve institutional investors. Messrs. Shand-Kydd and Chataway will be based in Jefferies' London office.

"The addition of these experienced, proven professionals demonstrates Jefferies' commitment to building our UK presence and an exceptional equity product," said Cliff Siegel, Chief Executive Officer of Jefferies International Limited. "Providing high quality research in our areas of focus, coupled with the resources to distribute it effectively to our client base, remains a top priority for Jefferies."

"Caspar and James bring with them deep relationships in the UK institutional investor community and significantly broaden our product offering," added Ed Gale, Director of International Equity Sales and Research. "Their extensive experience in equity sales and their small and mid cap expertise, in particular, is a perfect complement to Jefferies' focus on growing and mid-sized companies."

On a worldwide basis, the firm has more than 600 sales and trading professionals who connect a network of over 2,000 institutional investors. Jefferies is a top trader of equity securities, trading US, European, Asian, Canadian, Latin American, Australian and South African securities. The firm makes markets in over 4,000 securities globally. In addition, Jefferies has a highly respected equity research effort with more than 100 research professionals covering nearly 600 US and European companies, more than half of which have a market cap of less than $1.5 billion.

Mr. Shand-Kydd has nearly 15 years of experience in the securities industry. Prior to Jefferies, he was Head of UK Small and Mid Cap Sales with Dresdner Kleinwort Wasserstein, where he held sole UK responsibility for all mid- and small-cap sales and product. Previously, Mr. Shand-Kydd was Head of the Pan European Mid Small Cap Team at Credit Suisse First Boston and Director of UK Small Cap Equity at Kleinwort Benson. He holds a BSc from Edinburgh University.

Mr. Chataway has a decade of experience in the securities industry. Prior to Jefferies, he was Director of Equity Sales at Dresdner Kleinwort Wasserstein. Previously, he was Vice President of Equity Sales at Credit Suisse First Boston. Mr. Chataway began his career at HSBC Securities. He holds a BA from Exeter University.

About Jefferies

Jefferies, a global investment bank and institutional securities firm, has served growing and mid-sized companies and their investors for over 40 years. Headquartered in New York, with more than 25 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 International Limited, a UK-incorporated, wholly owned subsidiary of US-based Jefferies Group, Inc., was established in London in 1985 and is regulated by the Financial Services Authority ("FSA").

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

SOURCE: Jefferies International Limited