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JEFFERIES ADDS SENIOR HIGH YIELD TRADER

Industry Veteran Robert Leone Joins Firm's Leading Platform

NEW YORK, July 9, 2009 -- Jefferies & Company, Inc., the principal operating subsidiary of Jefferies Group, Inc. (NYSE: JEF), today announced the hiring of Robert Leone as Managing Director and Senior High Yield Trader. Mr. Leone will be initially responsible for the trading of high yield bonds for companies in the gaming, healthcare, utility, home builder and building products sectors. He joins Jefferies from Deutsche Bank, where he worked for more than four years and was most recently a Managing Director within that firm's High Yield Bond and CDS Trading group.

"The addition of Robert Leone, with his extensive experience and deep relationships, further enhances the scope of Jefferies' high yield capabilities for our institutional clients," commented Robert Harteveldt, Chairman of Fixed Income at Jefferies. "We continue to extend Jefferies' dedicated high yield offering and bring additional levels of service to our existing and new institutional clients."

As previously announced, Jefferies has added more than 20 professionals to the firm's High Yield group over the last year, which includes sales, trading and research, further extending the firm's presence in the leveraged loan, high yield and distressed markets. Jefferies is a recognized leader in high yield finance, with a team of approximately 85 professionals offering integrated sales, trading, research and capital markets capabilities in the US and London.

Before joining Deutsche Bank, Robert worked at Merrill Lynch, where he spent nine years and was most recently a Director in that firm's High Yield Trading group. He began his career at J.P. Morgan and received an MBA from Harvard Business School and a BS in Mechanical Engineering from Rutgers University.

About Jefferies

Jefferies, an independent, full-service global securities and investment banking firm, has served companies and their investors for more than 45 years. Headquartered in New York City, with offices in more than 25 cities around the world, Jefferies provides clients with capital markets and financial advisory services, institutional brokerage, securities research and asset management. The firm provides investors with fundamental research and trade execution in equity, equity-linked, and fixed income securities, including corporate bonds, high yield bonds, US government and agency securities, repo finance, mortgage- and asset-backed securities, municipal bonds, whole loans and emerging markets debt, as well as commodities and derivatives. Jefferies offers companies capital markets, merger and acquisition, restructuring and other financial advisory services. 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
Desiree Maghoo, Jefferies International Limited, 44 20 7029 8085, dmaghoo@jefferies.com
Josh Passman, Cubitt Jacobs & Prosek, 212 279 3115, x203, jpassman@cjpcom.com