Indices

Jefferies Global Exchange Index^SM

JEFIEXCP (index price) JEFIEXCT (total return)

Jefferies Global Exchange Index^SM is intended to reflect the stock performance of publicly-traded exchanges around the world. The eligible constituents are selected in consultation with Jefferies equity research analysts (subject to market capitalization, liquidity, and other requirements) to provide appropriate representation of these listed exchanges. The methodologies for index construction and the universe of eligible constituents are defined by Jefferies in consultation with Standard & Poor's, while the calculation and maintenance of the index are completed by Standard & Poor's.

Index Methodology (pdf)

Index Total Return Performance

S&P 500 index was set to 100 as of base date 12/31/2003 for comparison purposes.

Closing Price
Date	07-03-08
Price	391.29

Historical Values
	Closing Prices
	Total Returns

Current Constituents and Weighting (last updated 07-03-08)

Company	Ticker	Weighting
Deutsche Borse AG	DB1 GY	10.8%
Bovespa Holding SA	BOVH3 BZ	10.3%
NYSE Euronext	NYX	9.6%
IntercontinentalExchange Inc.	ICE	9.5%
Nymex Holdings Inc	NMX	9.4%
CME Group Inc.	CME	8.9%
Hong Kong Exchange And Clearing Ltd.	388 HK	8.8%
Nasdaq OMX Group Inc	NDAQ	6.3%
ASX Limited	ASX AU	6.2%
Singapore Exchange LTD.	SGX SP	5.0%
TMX Group Inc.	X	4.0%
Bolsas y Mercados Espanoles	BME SM	4.0%
London Stock Exchange	LSE LN	3.8%
Osaka Securities Exchange Co	8697 JP	1.4%
Hellenic Exchanges SA Holding	EXAE GA	1.1%
Bursa Malaysia Bhd	BURSA MK	0.8%
Daiko Clearing Services Corp	8692 JP	0.1%

The Jefferies Global Exchange Index^SM is the exclusive property of Jefferies & Company, Inc. Jefferies & Company has contracted with Standard & Poor's to maintain and calculate the index. Jefferies & Company and S&P shall have no liability for any errors or omissions in calculating the index.

All performance information presented above for any Jefferies Index is provided strictly for educational and illustrative purposes only. All historical data for the Jefferies Indices are estimations using sources believed to be reliable; however, none of Jefferies, Standard & Poors or any of their subsidiaries or affiliates makes any representations as to the accuracy, timeliness or completeness of any index data. The information provided is not intended for trading purposes, and should not be considered investment advice. You cannot invest directly in an index. This information, including all Jefferies Stock Indexes and materials relating thereto, is the property of Jefferies & Company ("Jefferies") and may not be used to create, offer, trade, market or promote any financial products without the express written consent of Jefferies. Jefferies and its affiliates and their respective directors, officers and employees may buy or sell securities mentioned or contemplated herein as agent or as principal for their own account and may have positions or engage in transactions based on or indexed to any Jefferies Stock Indexes. It is possible that Jefferies' trading activity will affect the value of Jefferies Stock Indices. This is not an offer or solicitation of an offer to buy or sell any security or investment. Past performance of any Jefferies Index is not necessarily indicative of future results.