Jefferies

Press Release

FOR IMMEDIATE RELEASE
Jefferies Statement on Exposure to MF Global

NEW YORK and LONDON, October 31, 2011 - Jefferies confirmed today that its exposure to MF Global Holdings Ltd. debt securities, which resulted from facilitating client orders as part of normal-course market making, is less than $9 million in marked-to-market positions.

Jefferies Group, Inc. (NYSE: JEF) is the global investment banking firm focused on serving clients for nearly 50 years. The firm is a leader in providing insight, expertise and execution to investors, companies and governments, and provides a full range of investment banking, sales, trading, research and strategy across the spectrum of equities, fixed income and commodities, in the U.S., Europe and Asia.

For further information, please contact:

Peregrine C. Broadbent
Chief Financial Officer
Jefferies Group LLC
(212) 284-2338