Indices

Jefferies Size Indices

The Jefferies Microcap, Smallcap and Midcap Indices are intended to present broad-based performance benchmarks for the stocks of companies in the following market capitalization ranges:

Jefferies Microcap Index^SM – Market capitalization of $50 million – $300 million
Jefferies Smallcap Index^SM – Market capitalization of $300 million – $2 billion
Jefferies Midcap Index^SM – Market capitalization of $2 billion – $10 billion

Securities are included in these indices subject to various requirements, including company structure, share liquidity, and trading volume (among others). These requirements are generally identical across other Jefferies Indices, enabling investors to view the relative performance of Jefferies Indices on a consistent basis. 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 indices are completed by Standard & Poor's.

Jefferies Microcap Index^SM

JEFIMICP (closing price) JEFIMICT (total return)

Index Methodology (pdf)

Index Total Return Performance

S&P 500 index was set to 100 as of base date 12/31/2002 for comparison purposes.

Closing Price
Date	09-05-08
Price	171.97

Historical Values
	Closing Prices
	Total Returns

Current Constituents and Weighting (last updated 09-05-08)

Company	Ticker	Weighting
Rigel Pharmaceuticals Inc	RIGL	0.8%
James River Coal Co Com New	JRCC	0.8%
Doral Financial Corp (Puerto Rico)	DRL	0.6%
Fuel Systems Solutions Inc	FSYS	0.6%
Finish Line	FINL	0.5%
Northwest Pipe Co	NWPX	0.5%
RTI Biologics Inc	RTIX	0.5%
Wet Seal, Inc.	WTSLA	0.4%
Vaalco Energy Inc Com New	EGY	0.4%
Smart Balance Inc	SMBL	0.4%
Hawaiian Holdings Inc Com	HA	0.4%
Standard Pacific	SPF	0.4%
Hanger Orthopedic Group	HGR	0.4%
Stepan Co.	SCL	0.4%
LA-Z Boy Chair	LZB	0.4%
StellarOne Corp	STEL	0.4%
Cryolife, Inc.	CRY	0.4%
Zep Inc.	ZEP	0.4%
Crawford & Co B	CRD.B	0.3%
Graham Corp Com	GHM	0.3%
Innophos Holdings Inc	IPHS	0.3%
Symyx Technologies Inc	SMMX	0.3%
Olympic Steel	ZEUS	0.3%
MainSource Financial Group Inc	MSFG	0.3%
Univest Corp of Pennslyvania	UVSP	0.3%
View all constituents

Sector Composition (last updated 09-05-08)

	Financials - 19.8%
	Health Care - 19.5%
	Information Technology - 17.3%
	Industrials - 15.0%
	Consumer Discretionary - 14.2%
	Energy - 6.1%
	Materials - 4.1%
	Consumer Staples - 2.1%
	Utilities - 1.4%
	Telecommunication Services - 0.5%
	Other - 0.1%

Sector Composition follows the Global Industry Classification System (GICS).

The Jefferies Microcap 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.

Jefferies Smallcap Index^SM

JEFISMLP (index price) JEFISMLT (total return)

Index Methodology (pdf)

Index Total Return Performance

S&P 500 index was set to 100 as of base date 12/31/2002 for comparison purposes.

Closing Price
Date	09-05-08
Price	182.40

Historical Values
	Closing Prices
	Total Returns

Current Constituents and Weighting (last updated 09-05-08)

Company	Ticker	Weighting
Alpha Natural Resources Inc	ANR	0.6%
Walter Industries Inc	WLT	0.4%
Ralcorp Holdings	RAH	0.4%
Energy Conversion Devices	ENER	0.3%
Patriot Coal Corporation	PCX	0.3%
Encore Acquisition Co	EAC	0.3%
Penn Virginia	PVA	0.3%
Comstock Res Inc	CRK	0.3%
Westinghouse Air Brake Technologies	WAB	0.3%
Big Lots, Inc.	BIG	0.3%
Watson Wyatt Worldwide	WW	0.2%
QLogic Corp.	QLGC	0.2%
Mariner Energy Inc.	ME	0.2%
Aeropostale Inc.	ARO	0.2%
Senior Housing Properties Trust	SNH	0.2%
Warnaco Group Inc.	WRC	0.2%
GrafTech International Ltd.	GTI	0.2%
Oil States International Inc	OIS	0.2%
Gardner Denver, Inc.	GDI	0.2%
Parametric Technology	PMTC	0.2%
Longs Drug Stores	LDG	0.2%
Con-way Inc.	CNW	0.2%
STERIS Corp.	STE	0.2%
Emcor Group	EME	0.2%
Teledyne Technologies	TDY	0.2%
View all constituents

Sector Composition (last updated 09-05-08)

	Financials - 19.7%
	Industrials - 16.5%
	Information Technology - 16.2%
	Health Care - 12.6%
	Consumer Discretionary - 12.5%
	Energy - 10.9%
	Materials - 4.0%
	Consumer Staples - 3.5%
	Utilities - 3.2%
	Telecommunication Services - 0.9%

Sector Composition follows the Global Industry Classification System (GICS).

The Jefferies Smallcap 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.

Jefferies Midcap Index^SM

JEFIMIDP (index price) JEFIMIDT (total return)

Index Methodology (pdf)

Index Total Return Performance

S&P 500 index was set to 100 as of base date 12/31/2002 for comparison purposes.

Closing Price
Date	09-05-08
Price	184.37

Historical Values
	Closing Prices
	Total Returns

Current Constituents and Weighting (last updated 09-05-08)

Company	Ticker	Weighting
Southwestern Energy	SWN	0.5%
UST Inc.	UST	0.4%
Activision Blizzard Inc.	ATVI	0.4%
Kimco Realty	KIM	0.4%
Intuit, Inc.	INTU	0.4%
Hudson City Bancorp	HCBK	0.4%
Bard (C.R.) Inc.	BCR	0.4%
Ultra Petroleum Corp	UPL	0.4%
Penney (J.C.)	JCP	0.4%
ENSCO Int'l	ESV	0.4%
Nabors Industries Ltd.	NBR	0.4%
Unum Group	UNM	0.4%
Xcel Energy Inc	XEL	0.4%
Dover Corp.	DOV	0.4%
Cleveland-Cliffs	CLF	0.4%
Clorox Co.	CLX	0.4%
C.H. Robinson Worldwide	CHRW	0.4%
HCP, Inc.	HCP	0.4%
NII Holding B	NIHD	0.4%
NetApp, Inc.	NTAP	0.4%
Plum Creek Timber Co.	PCL	0.4%
Questar Corp.	STR	0.4%
FIserv Inc.	FISV	0.4%
Vulcan Materials	VMC	0.4%
Laboratory Corp. of America Holding	LH	0.4%
View all constituents

Sector Composition (last updated 09-05-08)

	Financials - 16.8%
	Information Technology - 15.0%
	Consumer Discretionary - 14.7%
	Industrials - 14.0%
	Health Care - 10.5%
	Energy - 8.5%
	Materials - 7.2%
	Utilities - 6.5%
	Consumer Staples - 4.7%
	Telecommunication Services - 2.1%

Sector Composition follows the Global Industry Classification System (GICS).

The Jefferies Midcap 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.