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JEFFERIES NAMED 2006 MIDDLE MARKET INVESTMENT BANK OF THE YEAR BY THOMSON FINANCIAL’S BUYOUTS MAGAZINE

NEW YORK, April 19, 2006 – Jefferies & Company, Inc., the principal operating subsidiary of Jefferies Group, Inc. (NYSE: JEF), today announced that it has been named “Middle Market Investment Bank of the Year” for 2006 by Buyouts Magazine, a Thomson Financial publication providing news, data analysis and interpretation of sponsored LBOs.

At Tuesday night's inaugural Buyouts’ Awards Dinner, held at the Grand Hyatt Hotel in New York City, Adam Sokoloff, Managing Director and Group Head of Private Equity Coverage, accepted the award on behalf of Jefferies, a growing investment bank and institutional securities firm focused on growing companies and their investors. Buyouts Magazine describes Jefferies as a firm that is "moving swiftly up the league tables" and one of the few firms that “can advise on [either side] of a deal, arrange debt and, years later when a portfolio company matures, underwrite the IPO.”

"We are honored that Jefferies has received this award from Buyouts Magazine and to be recognized for our deep knowledge and commitment to the most thriving, dynamic and exciting segment of the economy, namely growing companies,” commented Richard B. Handler, Chairman and Chief Executive Officer of Jefferies. “These companies drive us, and Jefferies will continue to grow and diversify to serve their needs to the best of our abilities.”

“Private equity buyouts are a strong area of focus for Jefferies and one where we believe we can add particular value,” added Brian P. Friedman, Chairman of the Executive Committee at Jefferies. “We thank our clients and acknowledge the effort, commitment and talent of the 2,297 employee-partners of Jefferies who are directly responsible for our success.”

Investment Dealers’ Digest named Jefferies as the “Middle Market Investment Bank of the Year” in 2005, calling the firm “one of a kind.” The Firm's commitment to the middle market is both deep and broad across a range of industries, products and services. It has been a natural area of focus since Jefferies’ founding in 1962 and a stated goal for well over a decade. Jefferies is a top advisor and underwriter for growing and mid-sized companies across a range of industries. In 2006, Jefferies worked with growing companies on more than 350 transactions worth over $145 billion, including more than 80 transactions for private equity clients, valued at $11 billion.

Outside of investment banking, Jefferies is also a leading provider of execution and liquidity for the securities of small and mid-cap companies, which comprise 85 percent of the stocks in which the Firm makes a market. In addition, Jefferies’ research is focused on providing institutional investors with insight and opportunities most relevant to companies in this segment, with 60 percent of Jefferies' equity research focused on companies with market capitalization under $2 billion.


About Jefferies

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

Todd Miller, Cubitt Jacobs and Prosek, 203 378 1152, 149, tmiller@cjpcom.com