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FOR IMMEDIATE RELEASE JEFFERIES CONTINUES EXPANSION OF EQUITY DERIVATIVES TRADING EFFORT NEW YORK, July 10, 2006 -- Jefferies & Company, Inc., the principal operating subsidiary of Jefferies Group, Inc. (NYSE: JEF), today announced the hiring of Jason Glover as a Senior Equity Derivatives Trader in the firm's new equity derivatives trading group. Mr. Glover has significant experience as a derivatives trader and had most recently been a Portfolio Manager in the Emerging Managers Fund at Pequot Capital. "The Equity Derivatives team has quickly established itself as an important part of our Equity Financial Products Group, and we are committed to expanding our product capabilities to meet the needs of our institutional client base," said Richard Handler, Chief Executive Officer of Jefferies. "The addition of Jason Glover to this outstanding group of veterans further demonstrates Jefferies' commitment and illustrates the talent that is attracted to the tremendous opportunity associated with our firm." Mr. Glover joins Jefferies following several other significant hires in the firm's Equities Department. During the past two months, Alex Wohl joined the Firm as Head of Equity Derivatives Trading, and Ben Cohen and Mike George were also hired as Senior Equity Derivatives Traders. Messrs, Wohl, Cohen, George and Glover all previously worked together while at Goldman Sachs. In addition to these trading professionals, Mark O'Donnell joined as Head of Structured Products to partner with Mr. Wohl in the build-out of Jefferies' structured products effort. The Firm's offerings for institutional, corporate and private clients have been significantly expanded to now include equity swaps and over-the-counter options, equity-linked investment products, structured products related to hedge funds, and other specialty products. "Having previously worked with Jason, I am confident that he will be a tremendous asset for our team and will have immediate impact," added Mr. Wohl. "His strong client relationships and recent experience as a client will be invaluable to our growing, customer-driven business." "I am excited to work with my former colleagues and support the growth of these innovative products," said Mr. Glover. "Jefferies' established leadership in sales and trading, together with the firm's reputation for a diversified suite of product and industry expertise, were critical factors in my decision to join the firm's thriving platform." Prior to joining Jefferies, Mr. Glover worked for Pequot Capital as a Portfolio Manager in the Emerging Managers Fund. Previously, he spent six years with Goldman Sachs, where he gained significant experience in the Equity Research, Structured Products and Volatility Trading Groups. Mr. Glover graduated with a BS from James Madison University. 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).
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