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FOR IMMEDIATE RELEASE

JEFFERIES ENHANCES PRIVATE CLIENT EFFORT

Veteran Mason Matschke to extend Midwest Coverage

NEW YORK, June 12, 2006 -- Jefferies & Company, Inc., the principal operating subsidiary of Jefferies Group, Inc. (NYSE: JEF), today announced the hiring of Mason Matschke as a Senior Vice President in the firm's Private Client Services Department. Mr. Matschke has a total of 17 years experience in the securities industry and most recently was a Senior Vice President at UBS in Chicago, where he had worked since 1997.

"The addition of Mason Matschke demonstrates our strong commitment to our Private Client group, and serving corporate executives and high net worth individuals," said Richard B. Handler, Chief Executive Officer of Jefferies. "This group plays a crucial role within the Firm, complementing our other key businesses of trading, investment banking, asset management, and research."

"We are excited to welcome Mason Matschke to our team," commented Charles Baber, Head of Private Client Services at Jefferies. "We are confident that his relationships and experience will make an immediate contribution to the Firm and significantly enhance our presence as we continue to build out our group in Chicago and other key locations nationally."

"I am delighted to join Jefferies' growing Private Client Services group," said Mr. Matschke. "The Firm's unique and comprehensive high net worth platform including its award-winning equity research will enable me to offer my clients a compelling array of products and services."

The Jefferies PCS group, with over 50 professionals in New York, Chicago and San Francisco, provides an array of financial services and investment opportunities, including equity, fixed income, mutual funds, structured notes, and separately-managed accounts through outside money managers, including funds of funds. The group serves corporate clients and their senior executives, private equity firms, middle market institutions and high net worth individuals.

Prior to joining Jefferies, Mr. Matschke held the position of Senior Vice President for UBS, where he worked for 9 years. Previously, he worked for Prudential Securities, Wasendorf & Son, and First America Discount Corporation.

Mr. Matschke will report to Mr. Baber and be based in the Firm's Chicago 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:
Tom Tarrant
Jefferies & Company, Inc.
203-708-5989
ttarrant@Jefferies.com

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