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JEFFERIES EXPANDS FINANCIAL SERVICES RESEARCH COVERAGE

Daniel Furtado Promoted To Senior Equity Research Analyst

NEW YORK, January 7, 2008 -- Jefferies & Company, Inc., the principal operating subsidiary of Jefferies Group, Inc. (NYSE: JEF) announced the further expansion of its financial services research coverage. As part of the growth, Jefferies has promoted Daniel L. Furtado to Senior Equity Research Analyst as he assumes lead coverage of business development companies and auto lenders from Senior Research Analysts Richard B. Shane and Daniel L. Fannon. Mr. Shane and Mr. Fannon will continue to broaden coverage of the specialty finance and asset management and market structure industries, respectively.

Jefferies’ coverage of the Financial Sector has now grown to six professionals covering over 50 companies in various industries. Mr. Shane, a Managing Director based in San Francisco, heads the Specialty Finance Group, and will continue to cover the commercial finance and real estate finance industries and will assume coverage of additional consumer-related finance stocks. He is a top-rated analyst with multiple recognitions in The Wall Street Journal’s “Best on the Street” and Starmine annual analyst surveys. Mr. Fannon, also based in San Francisco, established coverage of the asset managers and securities exchanges in 2007 and will continue to focus on these fast-growing and dynamic industries. He was recognized by The Wall Street Journal’s “Best on the Street” Analyst Survey in 2007.

“We are extremely pleased to increase our research commitment within the financial services sector,” commented Steven R. Black, Head of Equity Research at Jefferies & Company, Inc. “Over the past five years, Jefferies has established a strong presence in these verticals. We are pleased to be able to commit additional resources to provide our institutional clients with the best possible research.”

Jefferies’ 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 Analyst 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. Furtado joined Jefferies in April 2007 as a Senior Research Associate in the Specialty Finance Group. Prior to Jefferies, Mr. Furtado covered specialty finance companies as a senior equity research associate for Friedman, Billings, Ramsey Investment Bank. Previously, he was an SBA commercial and real estate credit analyst for Bank of Coronado and held a similar position at Heritage Commerce Corporation. He has a MBA from Georgetown University and a BS in Finance from University of Arizona.


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