Focused on growing and mid-sized companies, Jefferies was named the
'2005 Middle Market Investment Bank of the Year'.*



A High Performance Equity Underwriter

Investment Bank % Increase
Jefferies & Company, Inc. 25.7%
CIBC 25.3%
Goldman Sachs 17.2%
Morgan Stanley 16.9%
Merrill Lynch 16.6%
Credit Suisse 16.4%
Lehman Brothers 14.6%
Citigroup 14.3%
JP Morgan 10.8%
Raymond James 10.0%
Source: Equidesk. January 1, 2005 - December 31, 2005. Average stock price performance since issue. Lead-managed IPOs & FOs, U.S. issuer, excludes best efforts & closed end funds, for leads with 20 or more deals.

A Top High Yield Underwriter

Manager Proceeds
(in millions)
Jefferies & Company, Inc. $415.5
Banc of America Securities LLC $348.4
Bear Stearns $250.7
Lehman Brothers $228.0
JP Morgan $169.8
Citigroup $150.8
UBS $136.5
Merrill Lynch $127.5
Wachovia $ 61.5
Deutsche Bank AG $ 60.0
Source:Thomson Financial. 2005 Single B (S&P and Moody's) U.S. New Issues under $150 million. Excludes split rated, mortgage and asset-backed securities. Full credit to lead manager, equal if joint.

Equity & Equity-Linked Financing
Jefferies offers expertise in direct placements, private equity, private placements, IPOs, follow-on offerings and convertible securities. We provide new issue underwriting and distribution to corporate clients through strong relationships with institutional investors. With a deep understanding of these markets and structures, we assist clients in accessing public and private capital across industries and the liquidity spectrum in virtually all market conditions. We are unique in our distribution and trading capabilities on the national securities exchanges and in third-market transactions. Our primary objective is to support the growth and future initiatives of our clients.

Leveraged Finance
Jefferies offers a full suite of debt products for middle market corporations and sponsors with a creative approach, deep knowledge of all levels of the capital structure and a reputation for executing complex transactions. Jefferies focuses on structuring and distributing public and private debt in leveraged finance transactions, including LBOs, acquisitions, growth capital, financings, recapitalizations, dividends, and chapter 11 exit financings. We specialize in high yield capital markets, fixed- and floating-rate senior debt, syndicated and "club" bank loans, revolving credit facilities, 2nd lien debt, mezzanine debt, bridge financing and debt with an equity participation. We also have the ability to commit capital for transactions that typically range (but are not limited to) between $50 million and $250 million, through our lending vehicle, Jefferies Finance.

* As awarded by Investment Dealers' Digest, January 16, 2006.