FOR IMMEDIATE DISTRIBUTION

JEFFERIES EXPANDS NEWLY ESTABLISHED CHARLOTTE OFFICE

Four Senior Investment Bankers Join Growing Consumer & Retail Effort Now Totaling Thirteen Professionals

NEW YORK and CHARLOTTE, October 22, 2007 -- The Jefferies investment bank today announced the hiring of three managing directors and one senior vice president in the Firm’s consumer and retail investment banking group. This announcement follows the recent appointment of Jim Walsh as Head of Consumer and Retail Investment Banking and is part of the buildout of the Firm’s Charlotte office and expertise in the consumer sector. The four senior bankers join the Charlotte office of Jefferies & Company, Inc., the principal operating subsidiary of Jefferies Group, Inc. (NYSE: JEF).

"The consumer and retail industries are vibrant and evolving, presenting tremendous opportunity for Jefferies to develop a leading practice for growing and dynamic companies,” commented Chris M. Kanoff, Co-Head of Investment Banking at Jefferies. “The addition of these experienced professionals demonstrates the Firm’s commitment to augmenting our expertise in this area and expanding our operations in Charlotte.”

“It is extremely exciting to join Jefferies’ thriving platform and we look forward to building out the Firm’s consumer and retail effort and regional presence,” commented Mr. Walsh. “There are significant opportunities for our team to leverage the Firm’s full-service investment banking platform for our corporate and private equity clients."

Mr. Walsh and his team include NY-based Managing Director Kenneth A. Wasik, and Senior Vice President David A. Galper, who lead the Firm’s consumer products investment banking effort. The additions include the following individuals from Wachovia Securities Inc.:

Grant D. Rice joins as Managing Director to focus on the food and beverage industries. He has over 17 years of investment banking experience and was most recently head of the food & beverage investment banking group at his prior firm. Mr. Rice has completed numerous advisory assignments and debt and equity underwritings for many strategic companies in the food & beverage sector, including Chiquita Brands International, Dean Foods, McCormick & Co., Dole Foods, Treehouse Foods, Acosta Sales & Marketing, Cott Corporation, Michael Foods and Pierre Foods, as well as leading financial sponsors Madison Dearborn Partners, Vestar and AEA investors. He has a BBA from Loyola University of Chicago.

John B. Tibe joins as Managing Director focused on food service and food retail. He most recently worked in a similar capacity at his prior firm, where he had been for 13 years. Mr. Tibe has completed numerous advisory assignments and debt and equity underwritings for many strategic companies in the foodservice and food retail sectors including CBRL Group, OSI Restaurant Partners, RARE Hospitality, Darden Restaurants, Texas Roadhouse, Winn-Dixie, Wawa and The Pantry. He has a BA from Centre College and an MBA from the University of Tennessee.

Ryan S. Fischer joins as a Senior Vice President focused on food industries. He was a Director in investment banking at his previous firm, where he worked for seven years. Mr. Fischer has worked with companies including Carrols Restaurant Group, Morton's Restaurant Group, Caribbean Restaurants, Landry's Restaurants and O’Charley’s. He has a BA from the University of Pittsburgh and an MBA from the University of Michigan.

In addition, Richard DiDonato joins as Managing Director to lead the Firm’s consumer and retail leveraged finance effort. He has nearly two decades of experience in investment banking, most recently as head of consumer and retail leveraged finance at the aforementioned firm. He has worked with high profile clients including Landry’s Restaurants, Inc., Cracker Barrel, and Chiquita Brands. Previously, Mr. DiDonato was an assistant vice president at Bank of America and, prior to that, a senior associate at Manufacturers Hanover Trust Co. Mr. DiDonato has a BA in Economics from University of Notre Dame and a Masters of Business in Finance from University of Chicago.


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