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JEFFERIES REPORTS RECORD THIRD QUARTER FINANCIAL RESULTS

NEW YORK, October 20, 2009 -- Jefferies Group, Inc. (NYSE: JEF) today announced financial results for the third quarter ended September 30, 2009.

Highlights for the third quarter include:
  • Record net revenues of $700 million, up 155% from the prior year
  • Record net income to Common Shareholders of $86 million, versus a loss of $31 million in the prior year
  • Net earnings per common share (diluted) of $0.42, which matches a record, versus a loss of $0.18 per share in the prior year
Highlights for the nine months ended September 30, 2009 include:
  • Record net revenues of $1.63 billion, up 88% from the prior year
  • Record net income to Common Shareholders of $187 million, versus a loss of $96 million in the prior year
  • Net earnings per common share (diluted) of $0.92 versus a loss of $0.64 per share in the prior year
"We are pleased with the momentum throughout Jefferies, as we continue to work hard to serve our clients in areas of our historical core competencies, as well as our many new business lines," commented Richard Handler, Chairman and Chief Executive Officer of Jefferies.

Conference Call

A conference call with management discussion of financial results for the third quarter ended September 30, 2009 will be held today, October 20, 2009, at 9:00 AM Eastern. Securities industry professionals may access the management discussion by calling 800-954-1051 or 212-231-2903. A one-week replay of the call will also be available at 800-633-8284 or 402-977-9140 (reservation code # 21438984). A live audio webcast and delayed replay can be accessed at www.jefferies.com.

About Jefferies

Jefferies, a major global securities and investment banking group, 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:

Peregrine C. Broadbent
Chief Financial Officer
(212) 284-2338

Full press release (with all tables) in PDF format