IMPORTANT: The security of electronic mail sent through the Internet is not guaranteed. Jefferies therefore recommends that you do not send confidential information to us via electronic mail, including social security numbers, account numbers and other personal identification numbers. Delivery, and timely delivery, of electronic mail is also not guaranteed.

JEFFERIES & COMPANY, INC., PRIVACY PROTECTION FOR REGISTRATION INFORMATION: The information you provide in order to register for the 4th Annual Internet Conference will be retained by Jefferies & Company, Inc. and its affiliates in the same manner as other confidential information we obtain from customers in the regular course of our business. A copy of our standard privacy policy is attached below for your reference. In addition to sponsoring this conference, Jefferies provides a number of other trading, investment banking, research, asset management and other services to its customers. We intend to contact you in the future about attending future conferences or taking advantage of the other products or services we provide.

JEFFERIES & COMPANY, INC. STANDARD PRIVACY POLICY

Your Privacy is Important to Us: At Jefferies & Company, Inc., we understand that our relationship with you is based on trust. This is reflected in everything we do, including the way we handle our clients' nonpublic personal information. The following disclosure explains what personal information we collect, what we do with that information and the steps we have put in place to protect the nonpublic personal information you have entrusted to us.

Information We Collect: From time to time, we gain access to your personal information through

• Our interaction with you on the telephone, in person or through e-mail
• Account Applications or other forms you complete
• Transactions in your accounts or on your behalf
• Our Web site or the Web sites of our affiliated companies
• Trading tools or other information tools we may make available to you
• Third parties with whom we deal, such as consumer-reporting agencies, to verify information we receive from you and your credit worthiness

It is the policy of Jefferies' businesses that collect U.S. Social Security numbers in the course of business to:

• protect the confidentiality of such Social Security numbers;
• prohibit the unlawful disclosure of such Social Security numbers; and
• limit access to such Social Security numbers.

Information We Disclose: It is Jefferies' policy not to disclose any of your nonpublic personal information to third parties without your consent, unless those parties are providing services or support to us and have agreed to keep your nonpublic personal information confidential. Examples of these parties include the company we use to prepare and mail your account statements or to perform our internal auditing. Even if you cease to transact business with Jefferies, we will continue to apply the same protections to your nonpublic personal information as we did when you were an active client.

The Jefferies Family of Companies: Jefferies & Company, Inc. is at the center of a family of related companies which are owned in whole or in part by Jefferies Group, Inc. (NYSE: JEF). These affiliated companies allow us to provide greater value to our customers, employees and shareholders. In the course of our business, employees or representatives of various Jefferies affiliates will have access to your nonpublic personal information. They have agreed to hold your information confidential and to comply with the privacy policy established by Jefferies & Company, Inc.

Protecting Your Information: Jefferies protects your nonpublic information from access by third parties by maintaining physical, electronic and procedural safeguards. We limit access to your information to those employees who are trained in the proper handling of nonpublic client information and who need access to the information to perform their job functions.

For more information, to find out what personal information of yours we have collected, or to update your personal information, please contact Jefferies' Shareholder Relations at 203-708-5975.