FOR IMMEDIATE DISTRIBUTION

JEFFERIES GROUP, INC. SELLS $400 MILLION OF SENIOR DEBT

NEW YORK and LONDON, June 24, 2010 -- Jefferies Group, Inc. (NYSE: JEF) announced today the sale of $400 million aggregate principal amount of unsecured 6.875% senior notes due 2021.

The senior notes were priced to yield 7.010% at a spread of 390 basis points over the comparable U.S. Treasury bonds. The Company's senior unsecured debt securities are rated Baa2/BBB/BBB (Moody's/Standard & Poor's/Fitch). The expected closing date is June 28, 2010.

Jefferies & Company, Inc., Citigroup Global Markets Inc. and J.P. Morgan Securities Inc. are the joint book-running managers of this offering. BNY Mellon Capital Markets, LLC, and Deutsche Bank Securities Inc. are acting as senior co-managers and BNP Paribas Securities Corp., Keefe, Bruyette & Woods, Inc. and U.S. Bancorp Investments, Inc. are acting as co-managers. A prospectus may be obtained from Jefferies Customer Reporting Group at 34 Exchange Place, Plaza 3, Suite 705, Jersey City, NJ 07311 (201) 761-7610.

Jefferies, a major global securities and investment banking firm, has served companies and their investors for more than 48 years. Jefferies & Company, Inc. is the principal US operating subsidiary of Jefferies Group, Inc., 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:

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