FOR IMMEDIATE DISTRIBUTION

JEFFERIES EXPANDS MBS/ABS/CMBS EFFORT

NEW YORK and BOSTON, July 21, 2009 -- Jefferies & Company, Inc., the principal operating subsidiary of Jefferies Group, Inc. (NYSE: JEF), today announced the hiring of Mark Plansky as a Managing Director and Head of Jefferies' MBS/ABS/CMBS group in Boston. Mr. Plansky will focus on serving Jefferies' MBS/ABS/CMBS clients in Boston and the Northeast. He joins the firm from Barclays, where he worked for eight years and was most recently a Managing Director focused on MBS sales.

In a joint statement, Johan Eveland and William H. Jennings II, Co-Heads of Global MBS/ABS/CMBS at Jefferies commented, "We are very pleased to announce that Mark Plansky has joined Jefferies. His experience, knowledge and strong relationships will significantly enhance our mortgage- and asset-backed capabilities in Boston, as well as continue the group's geographic expansion. We continue to extend Jefferies' dedicated MBS/ABS/CMBS platform to bring additional levels of service to our existing and new institutional clients."

Mr. Plansky will lead the firm's team in Boston that also includes James McLaughlin and Jeffrey Farkas, two veteran salespeople who have been focused on the sales and trading of MBS/ABS/CMBS securities for Jefferies in Boston.

This announcement represents a further enhancement of Jefferies' effort in MBS/ABS/CMBS. Earlier this month, Jefferies announced the addition of Lisa Pendergast as Head of CMBS Strategy and Risk, and in June the Firm announced the hiring of Marc DeFife to lead the group's activities in Chicago. The firm's MBS/ABS/CMBS group now includes more than 60 sales, trading and origination professionals in the US and London. Jefferies was ranked as the #1 bookrunner of US MBS origination for all of 2008 ($4.1 billion, 17% share of market).

Before Barclays, Mr. Plansky was a Managing Director at Lehman Brothers, where he was a top producer for MBS sales. Previously, he was with Paine Webber, and started his career at First Albany. Mr. Plansky received a BA from Villanova University.

About Jefferies

Jefferies, a major 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. 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 Ltd, 44 20 7029 8085, dmaghoo@jefferies.com
Josh Passman, CJP Communications, 212 279 3115, x203, jpassman@cjpcom.com