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FOR IMMEDIATE RELEASE

Jefferies Hires Senior Credit Analyst in Bonds Direct Division; Edwin Dean to Lead High Grade and Corporate Credit Research

NEW YORK--(BUSINESS WIRE)--Sept. 22, 2005--Jefferies & Company, Inc., the principal operating subsidiary of Jefferies Group, Inc. (NYSE: JEF), today announced that Edwin P. Dean has joined the firm's Bonds Direct Division as a Managing Director and Senior Research Analyst covering high grade corporate credits. Mr. Dean is a 25-year industry veteran with extensive experience in Fixed Income research.

"Research is a key way by which we can differentiate our efforts in fixed income, and Edwin Dean is an industry veteran who will enable us to bring more value to clients," commented Lee Fensterstock, Managing Director of the Bonds Direct Division of Jefferies. "His deep relationships on the Street will help to leverage our broad product offering and extensive sales effort."

Richard B. Handler, Chief Executive Officer of Jefferies, added, "Edwin Dean continues a series of recent additions in Jefferies' Bonds Direct Division, which is fast becoming a leading trader in the high grade securities business."

The Bonds Direct Division of Jefferies makes markets in investment grade fixed income instruments for institutional investors. The two-way markets of Bonds Direct are available through MarketAxess and TradeWeb or through the Bloomberg auto-execution functions.

Mr. Dean has been in the securities industry for nearly 25 years. Prior to Jefferies, he worked at First Albany as a senior research analyst following corporate credits.

Mr. Dean will be based in the firm's Boston office and will report to Mr. Fensterstock.

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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