FOR IMMEDIATE DISTRIBUTION

JEFFERIES APPOINTS HEAD OF GLOBAL FIXED INCOME STRATEGY

NEW YORK and LONDON, January 21, 2010 – Jefferies announced today the appointment of David Zervos, Ph.D. as Managing Director and Head of Global Fixed Income Strategy. He joins Jefferies from the Federal Reserve Board in Washington, DC, where he was a Visiting Advisor in the Division of Monetary Affairs for most of 2009.

"David Zervos brings tremendous experience, knowledge and relationships to our fixed income platform and will help support Jefferies' ongoing success," commented Tim Cronin, Global Head of Fixed Income at Jefferies. "As we continue to extend our firm's capabilities, this hire further demonstrates Jefferies' commitment to providing our institutional clients with valuable insight and perspective."

Jefferies' broader fixed income business now has more than 450 professionals globally who are focused on the sales and trading of investment grade corporate bonds, high yield bonds, government and agency securities, repo finance, mortgage- and asset-backed securities, municipal bonds, whole loans, leveraged loans, distressed securities and emerging markets debt.

Before his tenure at the Federal Reserve Board, Dr. Zervos spent five years as a portfolio manager at Brevan Howard and UBS O'Connor, specializing in global macro investment strategies. Previously, he directed mortgage and derivative strategy at Greenwich Capital Markets and also worked in international fixed income strategy at Swiss Bank Corporation. He received a Ph.D. and a MS in Economics from the University of Rochester.

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 US operating subsidiary of Jefferies Group, Inc. (NYSE: JEF: www.jefferies.com), and Jefferies International Limited is the principal UK operating subsidiary. Jefferies International Limited, a UK-incorporated company, is authorised and regulated by the UK Financial Services Authority.

For further information, please contact:

Tom Tarrant, Jefferies & Company, Inc., 203 708 5989, ttarrant@jefferies.com
Desiree Maghoo, Jefferies International Ltd, 44 20 7029 8085, dmaghoo@jefferies.com
Josh Passman, CJP Communications, 212 279 3115, x203, jpassman@cjpcom.com