FOR IMMEDIATE DISTRIBUTION

JEFFERIES STRENGTHENS RECAPITALIZATION & RESTRUCTURING EFFORT
WITH ADDITION OF INDUSTRY VETERAN RICHARD MORGNER

NEW YORK, July 28, 2009 -- Jefferies & Company, Inc., the principal operating subsidiary of Jefferies Group, Inc. (NYSE: JEF), today announced the hiring of Richard Morgner as a Managing Director in the Recapitalization & Restructuring Group of the firm's Investment Banking Department. Mr. Morgner joins Jefferies from Miller Buckfire, where he spent over three years as a Managing Director and Co-Head of that firm's mergers and acquisitions division.

In a joint statement, Michael J. Henkin and Steven R. Strom, Co-Heads of Jefferies' Recapitalization & Restructuring advisory practice, commented, "We are very pleased to welcome Richard Morgner to the recapitalization and restructuring team at Jefferies. His experience advising companies in distressed M&A and restructuring transactions, coupled with his expertise and relationships in the business, will make an immediate and significant contribution to our global practice."

In 2008 Jefferies was involved in more than 40 Restructuring and Recapitalization assignments worth over $50 billion. The firm has advised or is currently advising on some of the largest recent in- and out-of-court restructurings, including those for Circuit City, Delphi, Extended Stay Hotels, Federal Mogul, Movie Gallery, Nortel Networks, Quebecor and Trump Entertainment Resorts.

As an investment banker, Mr. Morgner has advised companies and investors in restructuring, mergers and acquisitions, distressed financing and other advisory transactions, including high profile engagements involving Dana Corporation, AAIPharma, Country Road Communications, Black Diamond Mining, Magnatrax and The Money Store. Before joining Miller Buckfire, he was a Managing Director and Head of M&A at Chanin Capital Partners, where he spent four years. Previously, he was a Managing Director and Head of M&A at Prudential Securities, where he spent ten years. He received an AB from Dartmouth College cum laude.

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