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JEFFERIES ADDS CONSUMER RESEARCH ANALYST

Jeffrey D. Farmer To Cover Restaurants As Part Of A Rapidly Growing Consumer Focus

NEW YORK, January 3, 2008 -- Jefferies & Company, Inc., the principal operating subsidiary of Jefferies Group, Inc. (NYSE: JEF), today announced the hiring of Jeffrey D. Farmer, CFA, as a Senior Vice President and Equity Research Analyst to cover the restaurant industry.
Mr. Farmer joins a burgeoning, global consumer research effort at Jefferies, which includes Daniel T. Binder, CFA, Lawrence A. Klatzkin and Andrew G. Didora, based in New York, Douglas M. Lane, CFA, based in Boston, Anna Barnfather, based in London and Gregory J. H. Jette, based in Paris. The Firm’s global consumer focus now includes broadlines and specialty hardline retailers, consumer products, gaming, gaming manufacturers, lodging and restaurants.

“Mr. Farmer is a top-rated analyst who adds a valuable vertical to our consumer coverage” commented Steven R. Black, Head of Equity Research at Jefferies & Company, Inc. "We are excited to welcome him to our team as part of the strategic buildout of this dynamic, and opportunity-rich sector.”

Mr. Farmer commented: “I look forward to bringing my expertise and perspective in the restaurant space to the Firm’s institutional investors and being an integral part of the Firm’s growing consumer team.”

Jefferies’ broad equity research effort has received key industry accolades, ranking among the Top 5 research teams for the second time in three years in The Wall Street Journal “Best on the Street” 2007 Analysts Survey, with a total of seven awards. The Firm also earned a total of nine analyst honors in StarMine’s 2007 Analyst Survey. Jefferies and its affiliates now have more than 140 equity and high yield research professionals in the US, Europe and Asia covering over 1,300 companies in the areas of aerospace and defense, business, consumer, financial and IT services, clean technology, energy, gaming & lodging, healthcare, industrial, media and entertainment, shipping & logistics, technology, and telecommunications.

Mr. Farmer was most recently an Equity Research Analyst covering growth restaurant stocks at CIBC World Markets, and was named the “Best Up and Comer” in the 2007 Institutional Investor All America Research Survey. He also recently ranked #3 among restaurant analysts (TTM period ended 11/30/07), according to StarMine, for industry excess return. Prior to CIBC, Mr. Farmer covered restaurant stocks at Deutsche Bank AG. Previously, he was a securities market analyst in the Division of Investment Management with the US Securities and Exchange Commission. He has an MBA from the University of Pennsylvania’s Wharton School, and graduated with honors from Villanova University. He is also a CFA Charterholder.

Mr. Farmer will be based in the Firm’s Boston Office.


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
Josh Passman, Cubitt Jacobs & Prosek, 212 279 3115, x203, jpassman@cjpcom.com