FOR IMMEDIATE DISTRIBUTION

JEFFERIES SIGNIFICANTLY ENHANCES GLOBAL EQUITY MARKETS CAPABILITIES

25 Equity Sales, Trading and Research Professionals Join in London and Frankfurt

LONDON and NEW YORK, 2 September 2008 -- Jefferies International Limited, the UK subsidiary of US-based Jefferies Group, Inc. (NYSE: JEF), today announced a significant enhancement to the Firm’s global equities business. The addition of 25 equity sales, sales-trading, trading, and research professionals, formerly of Bear Stearns in London, adds to the overall depth and breadth of Jefferies’ offering for its global client base. A total of twelve sales traders, four traders, four research analysts, five research salespeople, including a sales and sales-trading team focused on the German market, join the Firm.

As part of the Firm’s global equities platform, these professionals join an established pan-European and Asian equities effort, as well as a well-established US institutional equity sales and trading franchise. Among those joining are Andrew Shortland as Head of International Equities, Hamish MacLellan as Head of International Equity Sales, and Omar Saad as Head of International Equity Trading.

Additionally, equity research analysts Nick Bell and James Shuck join Jefferies to cover the European media and insurance industries, respectively. With these new hires, Jefferies now has 17 senior equity research analysts in Europe and Asia. On a global basis, the Firm’s equity research offering now includes nearly 60 senior analysts covering more than 800 companies in the global focus sectors of consumer, energy, financial services, healthcare, industrial, and technology, media and telecommunications.

Jefferies’ equity sales, trading, and research professionals now total more than 700 globally, including more than 100 based in Europe and Asia, and comprise one of the largest global equities units in the world. Outside the US, the Firm now has the capability to trade equities on every significant international exchange and is a member of the London Stock Exchange, Deutsche Börse (Xetra), Euronext, Dubai International Financial Exchange, Oslo Børs, Tokyo Stock Exchange and JASDAQ, and is linked to virtually every other major exchange.

Richard Handler, Chairman and Chief Executive Officer of Jefferies, commented:
“The addition of this proven team significantly expands and enhances the size and scope of Jefferies' capabilities in the equity markets and represents both a deep commitment to serving global institutional investors and an inflection point in our ability to execute globally for our clients.”

David Weaver, President of Jefferies International, added:
“We are very pleased to welcome these equity market veterans to the Jefferies platform. With their significant relationships in London and other global financial centres, these professionals will both leverage and accelerate the tremendous progress our firm has made over the past several years. This team nicely rounds-out Jefferies’ full-service offering for growing companies and investors globally.”

Jason Griffith, Head of Global Equities at Jefferies, added:
“This proven team, with the full platform and resources of our firm, will continue to build a successful global equities business at Jefferies. Their expertise is complementary to our existing capabilities, and their addition demonstrates the scalability of Jefferies’ equity business as we look to leverage our expanded offering and bring additional levels of service to our existing clients. We are confident these new partners will make an immediate and marked contribution in extending the strength of our overall equities franchise.”

Building upon more than 25 years in Europe, Jefferies International Limited has significantly expanded its capabilities over the last 18 months. Thus far in 2008, the Firm has added equity research analysts Anthony de Larrinaga and Christopher Smith to cover pan-European media and specialty finance companies, respectively. Beyond Equities, Jefferies has also recently added several senior investment bankers in London and, in the past year, has opened offices in Germany and Singapore.

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 nearly 30 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). Jefferies International Limited, a UK-incorporated, wholly owned subsidiary of Jefferies Group, Inc., was established in London in 1985 and is authorised and regulated by the UK Financial Services Authority.


For further information, please contact:

Tom Tarrant, Jefferies & Company, Inc., 203.708.5989, ttarrant@jefferies.com
Desirée Maghoo, Cubitt Consulting Limited, 44(0)20.7367.5107, desiree.maghoo@cubitt.com
Josh Passman, CJP Communications, 212.279.3115, x203, jpassman@cjpcom.com

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Notes to Editors:

Andrew Shortland spent sixteen years at Bear Stearns, where he was a senior managing director, head of international equities trading and a member of the Firm’s management committee. Previously, he spent three years at Morgan Stanley in London and New York as an international equity trader.

Hamish MacLellan was a senior managing director at Bear Stearns, where he worked for twelve years in a variety of roles, most recently as head of European equity sales trading. He received a BSc with Honours in Statistics from The University of Wales, College of Cardiff.

Omar Saad spent five years at Bear Stearns, where he was responsible for trading various equity markets, including emerging and developed Europe. Previously, he spent six years with ING in London and New York, trading international equities, ADRs and emerging European equity markets. He received a BSc in Physics from Bristol University.

Nick Bell was most recently a senior managing director and head of European media research at Bear Stearns, where he spent ten years. Previously, he was head of European media research at SBC Warburg, where he worked for three years. He received an MBA from INSEAD, an MSc in Economics from University College, London, and a BSc in Economics from Bristol University.

James Shuck was an associate director at Bear Stearns, where he spent seven years covering European insurance companies. Previously, he spent five years at PricewaterhouseCoopers serving in a variety of research roles. He received a BA with Honours in French and Management Studies from The University of Reading and is a Chartered Accountant.