FOR IMMEDIATE RELEASE

Jefferies Hires Senior Commodity Derivatives Professional; Mazin Mirza to Lead Global Commodity Derivatives

NEW YORK, Oct 18, 2005 (BUSINESS WIRE) -- Jefferies Financial Products, LLC ("JFP"), a subsidiary of Jefferies Group, Inc. (NYSE: JEF), today announced that Mazin Mirza has joined the firm as a Managing Director and Global Head of Commodity Derivatives. Mr. Mirza was previously a Vice President at Goldman Sachs, where he was responsible for commodity index derivatives.

"We are extremely pleased to have Mazin Mirza join Jefferies Financial Products. Mazin's extensive experience will help further our mission of providing clients with a broad range of innovative products within the global commodities markets," commented Adam De Chiara, Co-President of Jefferies Financial Products.

Richard B. Handler, Chief Executive Officer of Jefferies Group, Inc., added, "We are excited that Mazin has joined Jefferies. He will be instrumental in the further development of JFP as a globally-recognized leader in the field of commodity-linked products."

Jefferies Financial Products, LLC provides innovative financial products and commodity index expertise to pension funds, mutual funds, sovereigns, foundations, endowments and other institutional investors seeking exposure to commodities as an asset class. JFP is a leading market maker in benchmark commodity index products and a licensed provider of swaps, options and other derivative products linked to all major commodity indices.

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 Financial Products, LLC is the commodities unit of Jefferies Group, Inc. (NYSE: JEF; www.jefferies.com).

SOURCE: Jefferies & Company, Inc.

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