FOR IMMEDIATE RELEASE

JEFFERIES TO PRESENT AT THE MERRILL LYNCH 2006 BANKING & FINANCIAL SERVICES INVESTOR CONFERENCE

NEW YORK, November 8, 2006 -- Jefferies Group, Inc. (NYSE: JEF) today announced that Richard B. Handler, Chairman and Chief Executive Officer, will present at 2006 Merrill Lynch Banking & Financial Services Investor Conference in New York City on November 14, 2006. Mr. Handler will present at 8:50 AM Eastern.

A live webcast of the presentation will be broadcast over the Internet and can be accessed via Jefferies Web site, www.jefferies.com/1106ML. A replay of the presentation will also be available at this location for 14 days.

About Jefferies

Jefferies, a global investment bank and institutional securities firm, has served growing and mid-sized companies and their investors for nearly 45 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).

For further information, please contact:

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