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JEFFERIES ADDS SENIOR TRADER TO SPECIAL SITUATIONS EFFORT

Robert Minkoff Joins Firm's High Yield Platform to Focus on Trade Claims

NEW YORK, August 6, 2009 -- Jefferies & Company, Inc., the principal operating subsidiary of Jefferies Group, Inc. (NYSE: JEF), today announced the hiring of Robert Minkoff as a Senior Vice President and Senior Trader of Trade Claims. Mr. Minkoff will be responsible for building a trade claims team and extending Jefferies' broader distressed and special situations business into the trade claims market.

"The addition of Robert Minkoff allows us to expand Jefferies' presence in the distressed arena by offering clients product and liquidity in the trade claim space, an important vehicle through which our clients gain exposure to investment opportunities in distressed situations," commented Robert Harteveldt, Chairman of Fixed Income at Jefferies. "His hiring complements our existing businesses and provides our institutional clients with a fuller spectrum of distressed and special situations products."

"I am excited to join Jefferies and its extensive high yield and distressed securities platform," said Mr. Minkoff. "Jefferies' excellent reputation, as well as the depth and breadth of the firm's capabilities and commitment, particularly in the area of distressed and special situations, were key factors in my decision to join the firm."

As previously announced, Jefferies has added more than 20 professionals to the firm's High Yield Group over the last year, including sales, trading and research, and extending the firm's presence in the leveraged loan, high yield and distressed markets. Jefferies has a team of approximately 85 professionals in the US and London offering integrated sales, trading, research and capital markets capabilities in high yield, leveraged loans, distressed securities and related products.

Mr. Minkoff joins Jefferies from Liquidity Solutions Inc, a distressed debt hedge fund, where he worked for ten years and was most recently a Vice President. Previously, Mr. Minkoff was an Attorney for three years with Smith Buss & Jacobs and directed the firm's bankruptcy department. Before that, he was an Attorney with Brauner Baron Rosenzweig & Klein (now Windels Marx Lane & Mittendorf). He received a J.D. from Emory Law School, where he was a board member of Bankruptcy Developments Journal, and received a BA with Honors from Brandeis University.

About Jefferies

Jefferies, a major global securities and investment banking firm, has served companies and their investors for more than 45 years. Headquartered in New York City, with offices in more than 25 cities around the world, Jefferies provides clients with capital markets and financial advisory services, institutional brokerage, securities research and asset management. 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
Desiree Maghoo, Jefferies International Limited, 44 20 7029 8085, dmaghoo@jefferies.com
Josh Passman, CJP Communications, 212 279 3115, x203, jpassman@cjpcom.com