Jefferies

Press Release

FOR IMMEDIATE RELEASE
Jefferies Declares Quarterly Dividend

NEW YORK, March 22, 2011 -- Jefferies Group, Inc. (NYSE: JEF) announced today that, on March 21, 2011, its Board of Directors declared a quarterly dividend of $0.075 per share of common stock, payable on May 16, 2011 to stockholders of record on April 15, 2011.

Jefferies Group, Inc. (NYSE: JEF), a global securities and investment banking firm, has served companies and investors for nearly 50 years.

For further information, please contact:

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