FOR IMMEDIATE RELEASE

Jefferies Expands Investment Banking Effort in Healthcare; Three Additional Managing Directors to Extend Firm's Services Effort

NEW YORK--(BUSINESS WIRE)--April 24, 2006--Jefferies & Company, Inc., the principal operating subsidiary of Jefferies Group, Inc. (NYSE: JEF), today announced the hiring of three additional senior investment banking professionals in an expansion of the firm's efforts to provide strategic advisory and capital raising services to healthcare service and life science companies. M. Roderick Rivera, Wyatt R. Ritchie and David J. Price join as Managing Directors in the firm's Investment Banking Department.

The healthcare sector has long been a focus area for Jefferies, with a full range of investment banking services for corporate clients over a wide range of industries, including healthcare services, biotechnology, pharmaceuticals, and medical devices. In addition, Jefferies has seven securities traders dedicated to healthcare, and, with the inclusion of its European affiliate, Jefferies International Ltd., eight senior research analysts covering some 120 companies in healthcare services and life sciences.

"The addition of Rod Rivera, Wyatt Ritchie and David Price significantly enhances the breadth and depth of our established healthcare effort," commented Richard B. Handler, Chairman and CEO of Jefferies. "We are confident that their respective industry experience, significant relationships and product expertise will contribute to the quality and reach of our offering."

"As a firm, Jefferies is deeply committed to providing a world-class offering to companies in both healthcare services and the life sciences as an integral part of our broad and thriving investment banking practice," added Chris M. Kanoff, Co-Head of Investment Banking at Jefferies.

Mr. Rivera stated, "I am excited to leverage my expertise and relationships in healthcare and leveraged finance within Jefferies' established healthcare practice and full-service platform."

"Jefferies' growing reputation on the Street as the investment bank of choice for growing and mid-sized companies attracted me to the platform, and I'm delighted to bring my knowledge, experience and relationships to the firm," remarked Mr. Ritchie.

Mr. Price added, "I look forward to utilizing my pharmaceutical services, corporate finance and M&A experience in the U.S. and Europe within Jefferies' dynamic platform."

Messrs. Rivera, Ritchie and Price have extensive experience in healthcare investment banking.

Prior to Jefferies, Mr. Rivera spent more than sixteen years in investment banking, with his most recent position in the Healthcare Investment Banking Group at CIBC World Markets. Previously, he worked at Credit Suisse First Boston Corporation, Citicorp Securities, Inc., and spent eight years in the United States Navy. He earned an MBA from Stanford Graduate School of Business, an MS from University of Southern California, and a BS from the United States Naval Academy.

Mr. Ritchie has nearly twenty years of experience on Wall Street, most recently in the Healthcare Investment Banking Group at CIBC World Markets. He previously worked in corporate banking at Continental Bank (acquired by Bank of America). Mr. Ritchie earned an MBA from University of Chicago and a BA in Economics from St. Olaf College.

With twenty years of experience in the M&A and securities areas, Mr. Price was most recently in the Pharmaceutical Services Investment Banking Group at Bear Stearns. Previously, he worked at Price Waterhouse Coopers Consulting, Lex Service PLC (now RAC PLC) and Price Waterhouse. Mr. Price attained an honors degree in Accounting and Financial Management from Lancaster University.

Messrs. Rivera and Price will be based in the firm's New York headquarters, while Mr. Ritchie will be based in Jefferies' Silicon Valley office.

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.