Quick Facts

2007 Highlights
	2004	2007	Total Change
Net Revenues	$1.1b	$1.6b	+48%
Net Earnings	$131mm	$145mm	+11%
EPS	$1.03	$0.97	-6%
Book Value	$1.0b	$1.8b	+70%
Current Market Cap (1)	2.3b	$2.9b	+24%

Diversified Net Revenues
	Investment Banking	Sales & Trading (2)	Asset Management	Interest /other (3)
2007	48%	49%	1%	2%
2006	37%	51%	8%	4%
2005	41%	50%	6%	3%
2004	29%	52%	7%	12%
2003	28%	66%	4%	2%

Net Revenues 2007 $1,562 2006 $1,458 2005 $1,205 2004 $1,058 2003 $830 (in millions)	Net Earnings 2007 $145 2006 $206 2005 $157 2004 $131 2003 $84 (in millions)
Book Value 2007 $1,762 2006 $1,581 2005 $1,287 2004 $1,039 2003 $838 (in millions)	EPS 2007 $0.97 2006 $1.42 2005 $1.16 2004 $1.03 2003 $0.71 (diluted, adjusted for stock splits)
Closing Stock Price As of 12/31/07 $23.05 2006 $26.82 2005 $22.49 2004 $20.14 2003 $16.82 (adjusted for stock splits)	Market Capitalization (1) As of 12/31/07 $2,869 2006 $3,148 2005 $2,614 2004 $2,308 2003 $1,872 (in millions)
Total Revenues 2007 $2,719 2006 $1,963 2005 $1,498 2004 $1,199 2003 $927 (in millions)	Cash Dividends per Common Share 2007 $0.50 2006 $0.45 2005 $0.26 2004 $0.18 2003 $0.11 2002 $0.05 (adjusted for stock splits)
Asset Management Revenues (4) 2007 $24 2006 $110 2005 $82 2004 $81 2003 $33 (in millions)	Investment Banking Revenues 2007 $750 2006 $541 2005 $495 2004 $353 2003 $230 (in millions)
Sales & Trading Revenues (2) 2007 $793 2006 $749 2005 $596 2004 $617 2003 $551 (in millions)	Assets Under Management As of 12/31/07 $5.78 2006 $4.40 2005 $4.26 2004 $3.77 2003 $2.89 (in billions)
Compensation & Benefits 2007 60% 2006 54% 2005 56% 2004 56% 2003 57% (% of net revenues)	Cos. Under Research Coverage 2007 1,364 2006 1,332 2005 1,110 2004 960 2003 875 (approximations)
Long Term Debt/Equity (as of 12/31/07) Long Term Debt $1,764 Series A Convertible Preferred $125 Total Stockholders Equity $1,762 Total Capitalization $3,650 (in millions)	No. of employees As of 12/31/07 2,568 2006 2,275 2005 2,045 2004 1,783 2003 1,594
Credit Statistics (as of 12/31/07) Long-Term Debt/Common Equity 100% Liquid Asset/Total Assets 97% Total Assets/Stockholders' Equity 16.9x Adjusted Assets SSE* 7.6x * excludes stock borrow	JEF vs. Indices JEF 15.89% Amex B/D 9.06% S&P Mid Cap 400 7.21% Russell 2000 5.75% S&P 500 0.57% (annualized return 4/99-3/30/07)
	Credit Ratings Moody's Baa1 S&P BBB+ Fitch Ratings BBB

(1) Current period as of close on Dec 31, 2007; based on the number of shares outstanding for the reported period. (2) Includes Commision and principal transaction revenues. (3) Includes total interest and other revenues. (4) Includes asset management fees and investment income from managed funds