FOR IMMEDIATE DISTRIBUTION

JEFFERIES DECLARES QUARTERLY DIVIDEND

NEW YORK, January 20, 2010 -- Jefferies Group, Inc. (NYSE: JEF) announced today that, on January 19, 2010, its Board of Directors declared a quarterly dividend of $0.075 per share of common stock payable on March 15, 2010 to stockholders of record as of February 16, 2010.

Jefferies, a major global securities and investment banking firm, has served companies and their investors for more than 45 years. Jefferies & Company, Inc. is the principal operating subsidiary of Jefferies Group, Inc. (NYSE: JEF: jefferies.com).

For further information, please contact:

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