FOR IMMEDIATE RELEASE

Jefferies Adds Senior High Yield Trader; Angus Rogers Joins Veteran Team, Will Focus on Steel and E&P

NEW YORK, Sep 08, 2005 (BUSINESS WIRE) -- Jefferies & Company, Inc., the principal operating subsidiary of Jefferies Group, Inc. (NYSE:JEF), today announced the hiring of Angus Rogers as a Senior Vice President in the firm's High Yield Sales & Trading Group. As part of Jefferies high yield trading effort, Mr. Rogers will focus on trading the steel and energy exploration and production sectors.

Richard B. Handler, Chief Executive Officer of Jefferies, commented, "We are excited to have an individual of the caliber of Angus Rogers, who immediately enhances our leading franchise in high yield."

"Angus Rogers has extensive experience in high yield trading with deep institutional relationships in the U.S. and Canada," said David W. Schwartz, Director of High Yield Sales and Trading at Jefferies. "His addition is key to our continued success in serving institutional investors through the expansion of our high yield sales and trading effort."

"I am excited to join Jefferies' strong high yield effort and full-service investment banking platform," added Mr. Rogers.

Jefferies is a top trader and underwriter in the high yield market and provides research on more than 300 credits. The firm's sales and trading group trades high yield bonds, bank loans, special situations, trade claims, preferred stock and other leveraged and distressed securities for institutional investors. Jefferies' high yield group trades over $20 billion per year in more than 1,000 issues with more than 300 institutions.

Mr. Rogers has more than 15 years of experience as a securities trader with RBC Capital Markets in Canada and the U.S. He was most recently the Head Trader of that firm's High Yield Trading Desk. Previously, he led the investment grade trading desk, and held trading positions in their MBS/ABS trading desks. Mr. Rogers has a BA in Economics from the University of Western Ontario and is a CFA.

Mr. Rogers will report to Mr. Schwartz and will be based in the firm's Stamford, Connecticut office.

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).

SOURCE: Jefferies & Company, Inc.

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