FOR IMMEDIATE RELEASE

JEFFERIES EXPANDS TECHNOLOGY RESEARCH TEAM IN UK

Milan Radia Extends Firm's Global Coverage of the Software Industry

LONDON, 26 June 2006--Jefferies International Ltd., a subsidiary of US-based Jefferies Group, Inc. (NYSE: JEF), today announced the appointment of Milan Radia as a Senior Equity Research Analyst, extending the firm's global coverage of the software and IT services industries. Milan Radia will be based in London and joins from Bridgewell Securities where he covered IT, Software and Services.

The firm's global software equity research team now consists of Milan Radia covering UK software, Katherine Egbert covering infrastructure software, and Ross MacMillan and Robert Schwartz covering enterprise applications software.

Milan Radia has followed the sector for 13 years and, prior to Bridgewell, Milan was securities and telecommunications software analyst at UBS. Mr. Radia began his career as a fund manager at Prudential Portfolio Managers after graduating from Cambridge University with a degree in Economics.

Ed Gale, Director of International Equities commented:
"Mr. Radia's deep sector and market knowledge coupled with his buy and sell side experience brings a unique perspective to our clients. This hire really adds to our European research effort and complements our coverage of software companies within our broader technology practice."

Steven Black, Director of Global Equity Research commented:
"Technology is a core area of focus and growth for Jefferies. This addition demonstrates our commitment to high quality research across our global platform, which is driven by a team of more than 125 research professionals, including 10 senior analysts in Europe."

Milan Radia commented:
"I am excited to be joining Jefferies' thriving platform and the firm's award-winning research team. I look forward to providing insights and valuable investment ideas to Jefferies' institutional clients."

Notes to editors

About Jefferies

Jefferies, a global full service investment bank and institutional securities firm, has served growing and mid-sized companies and their investors for over 40 years. Headquartered in New York, the Bank has more than 25 offices worldwide. 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.

Jefferies' coverage of the technology sector consists of fourteen senior equity analysts covering more than 150 companies in the US and Europe in the following industries: communications equipment, electronics manufacturing services, infrastructure & enterprise applications software, Internet & new media, government & commercial IT services, homeland security, healthcare IT services, and semiconductors.

www.jefferies.com

For further information, please contact:

Tom Tarrant
Jefferies & Company, Inc.
T: +1 (212) 203 708 5989
E: ttarrant@jefferies.com

Desirée Maghoo
Associate Director, Cubitt Consulting
T: +44 207 367 5107
M: +44 777 552 2740
E: desiree.maghoo@cubitt.com