FOR IMMEDIATE DISTRIBUTION

JEFFERIES DECLARES QUARTERLY DIVIDEND

NEW YORK, December 20, 2010 -- Jefferies Group, Inc. (NYSE: JEF) announced today that, on December 17, 2010, its Board of Directors declared a quarterly dividend of $0.075 per share of common stock, payable on February 15, 2011 to stockholders of record on January 17, 2011.

Jefferies, a global securities and investment banking firm, has served companies and their investors for more than 48 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