FOR IMMEDIATE RELEASE

Jefferies Hires Additional Senior Restructuring Banker; Steven Strom Joins as Managing Director

NEW YORK, Mar 30, 2006 (BUSINESS WIRE) -- Jefferies & Company, Inc., the principal operating subsidiary of Jefferies Group, Inc. (NYSE: JEF), today announced that Steven R. Strom has joined as a Managing Director in the Restructuring Group of the firm's Investment Banking Division. Mr. Strom has more than 20 years of experience in the securities industry, focused primarily on corporate restructuring, mergers and acquisitions.

"Mr. Strom's excellent reputation in the marketplace and strong relationships in the industry are a great asset to our restructuring team," commented Richard B. Handler, Chairman and CEO of Jefferies. "This addition demonstrates the firm's deep commitment to meeting the investment banking needs of corporations during all phases of growth and transition."

"I am very excited about the opportunity to join Jefferies' well-known advisory effort," said Mr. Strom. "The firm's thriving investment banking practice, full-service platform and industry leadership in restructuring were key factors in my decision to join."

With more than 50 banking professionals working on active engagements, Jefferies' Restructuring group has long been a core component of the firm's Investment Banking Division. Jefferies has advised on some of the largest recent in- and out-of-court restructurings, including those for Atkins Nutritionals, Inc., Federal Mogul Corporation, Delphi Corporation, Trump Hotels & Casino Resort, Loral Space & Communications Ltd., ATA Airlines, Inc., Exide Technologies, Pliant Corporation and Revlon, Inc. In 2005, Jefferies worked with clients on nearly 20 restructuring transactions, representing over $23 billion in value. The firm ranks as a top middle market investment bank in providing advisory services, according to Bankruptcy Insider (The Deal). Over the past five years, Jefferies has completed over 125 restructurings, representing over $125 billion in liabilities.

As an investment banker, Mr. Strom has advised companies and investors in restructuring and M&A transactions, including high profile engagements involving WCI Steel, Trump Hotels & Casino Resorts, and Sierra Design Group. Previously, Mr. Strom served as a Managing Director in the Restructuring Advisory Groups at CIBC World Markets and Chanin Capital Partners.

Mr. Strom will be based at Jefferies' New York headquarters.

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