FOR IMMEDIATE RELEASE

JEFFERIES TO HOST 4TH ANNUAL COMMUNICATIONS CONFERENCE IN NEW YORK CITY ON SEPTEMBER 11-12

NEW YORK, September 6, 2006 -- Jefferies & Company, Inc., the principal operating subsidiary of Jefferies Group, Inc. (NYSE: JEF), today announced that it will host its 4th Annual Communications Conference on September 11-12, 2006, in New York City.

Presenting companies will address the consolidation of incumbent service providers, equipment suppliers and competitive carriers, as well as how this trend will affect the competitive landscape going forward. In addition, presenters are expected to discuss the role that emerging technologies may play in the upcoming years.

Conference participants currently include:

Arbinet-thexchange, Inc. (ARBX)
Broadview Networks (BDVU)
Broadwing Communications, LLC (BWNG)
CBeyond, Inc. (CBEY)
Centennial Communications Corp. (CYCL)
Cincinnati Bell (CBB)
Cleveland Unlimited, Inc.
Cogent Communications Group, Inc. (CCOI)
Covad Communications Group, Inc. (DVW)
Eschelon Telecom, Inc. (ESCH)
Equinix, Inc. (EQIX)
General Communication, Inc. (GNCMA)
Global Crossing, Ltd. (GLBC)
iBasis, Inc. (IBAS)
ICO Global Communications (Holdings) Limited (ICOHA)
IDT Corporation (IDT)
Internap Network Services Corporation (IIP)
Iowa Telecommunications Services Inc. (IWA)
iPCS, Inc. (IPCS)
j2 Global Communications, Inc. (JCOM)
Knology, Inc. (KNOL)
Leap Wireless International, Inc. (LEAP)
Level 3 Communications, Inc.(VLT)
MasTec, Inc. (MTZ)
McLeodUSA Inc.
Mobile Satellite Ventures (MSVLP)
NII Holdings, Inc. (NIHD)
NTL, Inc. (NTLI)
PAETEC Communications, Inc. (CLEC)
Primus Telecommunications, Inc. (PRTL)
RCN Corporation (RCNI)
SAVVIS, Inc. (SVVS)
SureWest Communications (SURW)
Talk America Holdings Inc. (TALK)
TelePacific Communications
Terremark Worldwide, Inc. (TWW)
Time Warner Telecom Inc. (TWTC)
US LEC Corp. (CLEC)
XM Canada (XMCAN)
XM Satellite Radio Holdings Inc. (XMSR)

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 Communications Conference, please contact your institutional sales representative or Jodi Pulman (212-284-2581, jpulman@Jefferies.com).

About Jefferies

Jefferies, a global investment bank and institutional securities firm, has served growing and mid-sized companies and their investors for nearly 45 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).

For further information, please contact:

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

Lauren Carmody
CJP Communications
203 378 1152 ext 106
lauren@cjpcom.com