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FOR IMMEDIATE RELEASE

Jefferies to Host 2nd Annual Internet Conference February 28th in New York City; Exploring New Trends and Opportunities

NEW YORK--(BUSINESS WIRE)--Feb. 2, 2006--Jefferies & Company, Inc., the principal operating subsidiary of Jefferies Group, Inc. (NYSE: JEF), today announced that it will host its 2nd Annual Internet Conference on February 28th in New York City. Senior industry executives from both public and private companies and investors will gather to discuss the latest developments and the future of the medium.

"2005 turned out to be much stronger than anticipated for the Internet group, and 2006 looks very promising as well," commented Youssef H. Squali, Managing Director and Senior Equity Research Analyst covering the Internet and Digital Media at Jefferies. "The underlying fundamentals remain intact, driven by higher penetration of broadband access, more compelling content, innovative marketing solutions, and a growing need by advertisers to shift money into higher ROI channels. 2006 is also likely to be the year when a number of new initiatives hit primetime, including local search, VoIP and Wireless data," he added.

Conference participants currently include: 1-800-Flowers.com, 24/7 Real Media, Inc., Allyes AdNetwork, aQuantive, Inc., Bankrate, Inc., Covad Communications Group Inc., CDC Corporation, EarthLink, Inc., InPhonic, Inc., iVillage, Inc., J2 Global Communications, Inc., LegalZoom.com, Inc., MIVA, Inc., Napster, LLC, Netflix, Inc., NetRatings, Inc., PlanetOut Inc., Shutterfly, Stamps.com, United Online, Inc., ValueClick, Inc., Vertrue Incorporated, VistaPrint, and WebSideStory, Inc.

An audio webcast of each presentation, both live and replay, will be available at the discretion of the presenting companies, and will be accessible at www.jefferies.com.

For further information about the 2006 Jefferies Internet Conference, please contact your institutional sales representative or Jessica Grad (212-284-3418, jgrad@Jefferies.com).

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 & Company, Inc. is the principal operating subsidiary of Jefferies Group, Inc. (NYSE: JEF; www.jefferies.com).

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

SOURCE: Jefferies & Company, Inc.

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