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JEFFERIES APPOINTS CHIEF EUROPEAN FINANCIAL ECONOMIST

David Owen Joins Jefferies Global Fixed Income Effort

LONDON and NEW YORK, 24 November, 2009 – Jefferies announced today the appointment of David Owen as a Managing Director and Chief European Financial Economist within the Firm's Fixed Income Group. As part of this new role, Mr. Owen will be responsible for analyzing and predicting trends within the European government debt market and broader fixed income markets globally. He will report to Domenico Crapanzano, Head of European Rates Sales & Trading, and will work closely with Dr. Ward McCarthy, the firm's Chief Financial Economist, who joined the firm earlier this year in New York.

David Weaver, President of Jefferies International, commented, "David Owen's hiring is an important step in the continued build-out of our international fixed income sales and trading platform. His outstanding experience, expertise and reputation in the industry will add valuable insight and perspective for our clients."

In a joint statement, Christopher Bury and Daniel Markaity, Co-Heads of Jefferies' Global Fixed Income Rates Business, commented, "David's qualified perspective will significantly enhance our overall client offering and further position Jefferies' fixed income platform as a market leader. We welcome him to Jefferies and look forward to his contribution to our team."

This announcement underscores Jefferies' growing strength in fixed income, where the Firm now has more than 400 professionals globally who are focused on the sales and trading of investment grade corporate bonds, high yield bonds, government and agency securities, repo finance, mortgage- and asset-backed securities, municipal bonds, whole loans, leveraged loans, distressed securities and emerging market debt. Jefferies was also designated as a Primary Dealer by The Federal Reserve Bank of New York in June of this year.

Mr. Owen joins Jefferies from Dresdner Kleinwort, where he worked for 23 years and was most recently a Managing Director and Chief Economist for Developed Markets. He received a MS in Economics and Econometrics from Southampton University and a BS in Mathematics and Economics from Warwick University.

About Jefferies

Jefferies, a major global securities and investment banking group, 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). Jefferies International Limited, a UK-incorporated, wholly owned subsidiary of Jefferies Group, Inc., 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
Desiree Maghoo, Jefferies International Ltd, 44 20 7029 8085, dmaghoo@jefferies.com
Josh Passman, CJP Communications, 212 279 3115, x203, jpassman@cjpcom.com