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JEFFERIES NAMES CRAIG MCCRACKEN AS US HEAD OF EQUITY-LINKED ORIGINATION

NEW YORK, December 14, 2009 – Jefferies today announced the appointment of Craig McCracken as the US Head of Equity-Linked Origination. Mr. McCracken will be responsible for sourcing, structuring and marketing convertible and other equity-linked products, and will help build Jefferies' equity-linked origination business in the US and international markets.

"We are very pleased to welcome Craig to Jefferies," commented Benjamin Lorello, Global Head of Investment Banking and Capital Markets at Jefferies. "His experience in structuring and marketing innovative convertible and equity derivative solutions for a broad range of clients further deepens Jefferies' equity capital markets platform and his success in leading a top-tier equity-linked franchise accelerates our overall strategy."

"Craig has a proven track record of helping to build a successful convertible origination business," added Mark Connelly, Global Head of Equity Capital Markets, who joined Jefferies in August 2009. "He has significant experience across equity-linked products and industry sectors, and will be an integral partner in our efforts to provide the full spectrum of equity solutions and growth capital to Jefferies' clients."

Mr. McCracken has more than twelve years of industry experience including six years at Banc of America Securities, where he was a Managing Director, Head of Equity Linked Origination, and led Wall Street's #1-ranked convertible origination team based on 2008 market share and volume. While at Banc of America from March 2003 through April 2009, Mr. McCracken originated and executed transactions across a wide range of equity-linked products, including convertible bonds, convertible preferreds, mandatory convertibles, and call spread overlays. His experience spans a range of industries, including Healthcare, TMT, Financial Institutions, Energy, Real Estate, Retail and Industrials. Mr. McCracken joins Jefferies from Vicis Capital, where he helped to manage a multi-billion dollar convertible arbitrage portfolio. Craig received a JD from New York University and his undergraduate degree from Cornell University.

Jefferies, a major global securities and investment banking firm, has served companies and their investors for more than 45 years. 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., 212-284-2389, 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