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FOR IMMEDIATE RELEASE

Jefferies Hires Senior Equity Capital Markets Professional; Trip Wolfe Enhances Firm's Growing Presence in Equity Underwriting

NEW YORK--(BUSINESS WIRE)--Oct. 17, 2005--Jefferies & Company, Inc., the principal operating subsidiary of Jefferies Group, Inc. (NYSE: JEF), today announced that Howard D. ("Trip") Wolfe III has joined as a Managing Director in the firm's equity capital markets group. As a senior member of this group, Mr. Wolfe will be an integral part of the team responsible for the origination and execution of stock offerings, with particular focus on companies in the technology and other high growth sectors.

"Trip Wolfe brings outstanding industry relationships and experience to the Jefferies platform and will immediately enhance our equity capital markets group," commented Richard B. Handler, Chief Executive Officer. "Jefferies is committed to being a top equity underwriter on Wall Street, and we have made great strides in building this business over the past few years."

Jefferies continues to enhance its equity underwriting business, especially among growing and mid-sized companies. The firm raised $9.6 billion through 63 equity offerings last year, compared to $3.4 billion through 39 offerings in the previous year.

"I am excited to join Jefferies' thriving investment banking effort," said Mr. Wolfe. "Jefferies has all the necessary building blocks to dramatically expand its successful equity capital markets business, and I'm looking forward to leveraging those resources to help create a bigger and more profitable business."

Mr. Wolfe has worked on Wall Street for over eight years as both an investment banker and an equity capital markets professional. Prior to Jefferies, Mr. Wolfe ran Deutsche Bank's San Francisco-based equity capital markets effort, focusing specifically on the technology underwriting business. As part of his new role at Jefferies, he will continue to focus on growth industries in order to leverage the substantial technology platform of the firm's Jefferies Broadview division. As a result, Mr. Wolfe will have offices in both New York and San Francisco.

Mr. Wolfe will report to Timothy E. Monfort, head of the firm's equity capital markets group.

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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