FOR IMMEDIATE RELEASE

JEFFERIES EXPANDS ITS NORTH AMERICAN PRIVATE EQUITY FUND PLACEMENT TEAM

NEW YORK, November 7, 2006 -- Jefferies & Company, Inc., the principal operating subsidiary of Jefferies Group, Inc. (NYSE: JEF), today announced that the firm's Helix division, a leading private equity fund placement agent, has expanded its capabilities with the hiring of Wanda Felton as a Managing Director. Ms. Felton has more than 13 years of experience in private equity fundraising in the US offices of Credit Suisse and Hamilton Lane, among others.

"Given the significance of the North American market in the private equity world, particularly the middle market buy-out sector, Helix has significantly enhanced its presence with the addition of Ms. Felton," commented Mark Hallock, a Managing Director of Helix Associates and head of the US-based team. "We are confident that her extensive experience on the buy-side and sell-side in advisory, placement agent and investor roles coupled with her deep-rooted relationships in the US and Canada will add immediate value to our clients and team."

"I look forward to applying my skills and experience at Helix Associates and bringing the Firm's world-class global fund placement services to premier fund sponsors and limited partners in North America," said Ms. Felton. "Helix's reputation for conducting thorough research and due diligence combined with the resources of Jefferies were key factors in my decision to join."

Since joining forces with Jefferies in May of 2005, clients of Helix Associates have closed on 8 funds, raising over $9 billion. In the past 5 years, nearly 40 percent of capital raised by Helix has been from investors in North America. Investors have been a mix of public and corporate pension funds, endowments and foundations, insurance companies, financial institutions and fund of funds. Helix remains committed to the growth and development of its global business of placing private equity funds with investors around the globe and intends to continue leveraging its experience and reputation with Jefferies strength in the middle market and relationships in the private equity community. Each year, Helix acts as the placement agent for a select number of high-quality funds.

Ms. Felton founded Map Capital Advisors, an advisor for private equity firms, and was formerly a director based in New York for the fund placement team of Credit Suisse. She was also a Managing Director at Hamilton Lane, an alternative investment consultant. Previously, Ms. Felton was a vice president of investor relations at Alex. Brown & Sons Incorporated, and began her career as an associate at Citicorp. Ms. Felton received an MBA from Harvard Graduate School of Business Administration and a BA from University of Pennsylvania.

At Helix, Ms. Felton will work closely with North American-based general partners and investors in the placing of Helix's products. She will focus on developing Helix's North American activities from Jefferies' headquarters at 520 Madison Avenue in New York.

About Helix Associates

Helix Associates is operated in the UK as Helix Associates Limited, a subsidiary of Jefferies International Limited, and in the US as Helix Associates, a division of Jefferies & Company, Inc. Helix is a leading global placement agent for private equity funds, providing superior service to private equity firms. Founded in 1993, the firm's reputation is based on discriminating fund selection, thoughtful and balanced research, rigorous due diligence, and effective project management. This approach has generated a consistent track record of successful outcomes. Each year, Helix acts as the placement agent for a select number of high-quality private equity funds. Helix has developed relationships of trust with institutional investors and major family offices throughout the world. This network is strengthened and expanded through Helix's agreements with its global partners in regional markets. For more information, visit www.helix-associates.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