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FOR IMMEDIATE RELEASE

Jefferies Enhances Industrial Equity Research Group; Laurence Alexander Expands Firm's Coverage of Sector, Focus on Specialty Chemicals and Water Technology

NEW YORK--(BUSINESS WIRE)--Aug. 9, 2005--Jefferies & Company, Inc., the principal operating subsidiary of Jefferies Group, Inc. (NYSE: JEF), today announced the hiring of Laurence Alexander as a Vice President and Equity Research Analyst. He will cover the specialty chemical and water technology industries, among others. Mr. Alexander joins a team of seven research professionals specializing in the Industrial Sector headed by Senior Equity Research Analyst Robert J. Schenosky.

Jefferies' Industrial Equity Research group also includes analysts Yvonne M. Varano, following the steel and security industries and other general industrial companies, and Jeffrey W. Bencik, covering alternative energy and packaging companies among others. The team was also recently expanded with the addition of research associates Guy-Max Delphin from Prudential and Kevin A. Stanley from UBS, who joined Monica Ma in this role.

"Laurence Alexander helps to complete our broad-reaching Industrials research effort as we look to meet the needs of today's portfolio managers," said Mr. Schenosky. "His experience in specialty chemicals and considerable exposure to U.S., European and Latin American equity research makes him an excellent addition to our well-established team."

Mr. Alexander has more than five years of experience in equity research. Most recently, he was a Vice President with Deutsche Bank's global chemicals research team. Previously, Mr. Alexander served in an associate role at ABN Amro, where he provided coverage of the European and U.S. specialty chemical industry, and worked in U.S. and Latin American equity strategy. Mr. Alexander holds degrees from Yale and Columbia and is a CFA charter holder.

About Jefferies

Jefferies, a global investment bank and institutional securities firm, has served growing and mid-sized companies and their investors for over 40 years. Headquartered in New York, with more than 25 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.jefferies.com).

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

SOURCE: Jefferies & Company, Inc.

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