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FOR IMMEDIATE RELEASE

Jefferies Group, Inc. Announces Management Conference Call To Discuss 2004 Fourth Quarter and Year-End Financial Results

NEW YORK--(BUSINESS WIRE)--Jan. 13, 2005--Jefferies Group, Inc. (NYSE:JEF) announced today a conference call with Management to discuss 2004 fourth quarter and year-end financial results. Participants on the call will include: Richard B. Handler, Chairman and CEO; John C. Shaw, Jr., President; and Joseph A. Schenk, CFO.

The conference call will be held at 11 AM Eastern on Wednesday, January 19, 2005 (date and time subject to change). For listen-only access to the management discussion, please call (617) 801-9714 (passcode: 28268944) ten minutes prior to the scheduled start time. A live audio webcast and a delayed replay will also be available at www.jefco.com and www.streetevents.com.

Jefferies' earnings press release will be distributed via Business Wire at approximately 8:30 AM Eastern on January 19, 2005. To view the press release on or after January 19, 2005, please visit www.jefco.com. Questions for consideration by Management during the conference call can be submitted in advance through the "Contact Us" function at www.jefco.com or by calling 203-708-5975 by 9:00 AM Eastern on January 19th.

About Jefferies

Jefferies, a global investment bank and institutional securities firm, has served mid-sized and growing companies and their investors for over 40 years. Headquartered in New York, with more than 20 offices around the world, Jefferies provides clients with capital markets and financial advisory services, institutional brokerage, securities research and asset management. The firm is a leading provider of trade execution in equity, high yield, convertible and international securities for institutional investors and high net worth individuals. Jefferies & Company, Inc. is the principal operating subsidiary of Jefferies Group, Inc. (NYSE:JEF)(www.jefco.com).

CONTACT:
Jefferies & Company, Inc.
Tom Tarrant, 203-708-5989
ttarrant@jefco.com

SOURCE: Jefferies & Company, Inc.

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