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JEFFERIES HIRES CLEAN TECHNOLOGY ANALYST

Paul Clegg Strengthens Firm's Global Coverage Of Clean Technology And Industrial Sectors

NEW YORK, August 7, 2007 -- Jefferies & Company, Inc., the principal operating subsidiary of Jefferies Group, Inc. (NYSE: JEF), today announced the hiring of Paul Clegg as a Senior Equity Research Analyst covering clean technology companies. Mr. Clegg has nearly 17 years of experience in securities research, origination and credit analysis and will focus on solar technology, nuclear fuels, clean coal technology, wind, and hybrid technologies.

Mr. Clegg joins an established clean technology research team including Laurence Alexander in New York and Michael McNamara in London. The Firm’s global clean technology coverage includes solar, wind, nuclear technology, fuel cells, battery technology, water, recycling, biofuels and industrial biotech. The clean technology research team is part of Jefferies’ broader industrial research group, headed by Robert J. Schenosky in New York and includes Yvonne Varano in New York and John Dean in London.

"Paul Clegg is an accomplished analyst with a reputation for well thought-out, detailed research and has a strong following within the hedge fund community and other institutional investors," commented Steven R. Black, Head of Equity Research at Jefferies & Company, Inc. "His hire reinforces our commitment to the build out of the rapidly growing and dynamic clean technology sector.”

"Clean technology is an emerging sector still in its infancy and it has tremendous investor interest,” commented Mr. Clegg “I look forward to sharing my insight and perspective and helping Jefferies’ institutional investors understand the sector and its complexities, ongoing advancements and its overall impact on the energy and industrial sectors.”

As a leading provider of research to institutional investors, the firm’s broader equity research effort includes more than 130 professionals in the US and Europe following over 825 companies. Coverage focuses primarily on small and mid-cap companies in a range of industries, including aerospace and defense, business, financial and IT services, clean technology, consumer, energy, gaming and lodging, healthcare, industrials, maritime, media and entertainment, technology, and telecommunications. The Firm’s equity research effort has recently received key industry accolades, earning the third-highest number of awards from The Wall Street Journal “Best on the Street” 2007 Analysts Survey with a total of seven accolades. Similarly, Jefferies analysts were recently recognized in the annual StarMine analyst rankings published by Forbes.com, The Sunday Times and Dagens Industri with a total of nine awards.

Mr. Clegg was most recently a Senior Equity Research analyst at Natexis Bleichroder covering alternative energy, prior to which he covered equity and fixed income securities at Calyon Securities (USA), Inc. across a number of industries, including electric and gas utilities and IPPs. He earned a Bachelor of Arts degree and Master of Science in Economics from Baylor University. He is a CFA charterholder.

Mr. Clegg will be based in the Firm’s New York Headquarters.

About Jefferies

Jefferies, a global investment bank and institutional securities firm, has served growing and mid-sized companies and their investors for 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
- Todd Miller, Cubitt Jacobs & Prosek, 203 378 1152, x149, tmiller@cjpcom.com