Jefferies Continues Expansion of High Yield, Leveraged Loan and Distressed Sales, Trading and Research Platform

NEW YORK & STAMFORD, Conn.--(Business Wire)--
Jefferies & Company, Inc., the principal operating subsidiary of Jefferies
Group, Inc. (NYSE: JEF), today provided an update on the progress of its focused
hiring effort to expand the firm`s capabilities in high yield, leveraged loans,
distressed and special situations sales, trading and research.

Following the addition of Robert Harteveldt, a 24-year Bear Stearns veteran, as
Chairman of Fixed Income in July 2008, Jefferies has hired nine sales
professionals, one trader and seven research analysts, expanding the
distribution team to nearly 50 professionals dedicated to these products. During
the next few weeks Jefferies expects to announce the additional hiring of three
more traders, further extending the firm`s presence in the leveraged loan, high
yield and distressed markets.

"Jefferies has been fortunate to be able to add highly respected, senior and
experienced professionals during these challenging times for our industry. This
expansion in high yield is an essential part of our commitment to providing
clients with high quality, best-in-class sales, trading and research
capabilities," commented Richard Handler, Chairman and CEO of Jefferies. "As
Jefferies has weathered these trying times, experienced professionals from
across Wall Street have come to recognize the strength of our platform and are
joining our team."

"With the addition of these and other soon-to-be-announced talented
professionals, Jefferies has compiled one of the broadest, most experienced
teams in the high yield, loan and distressed markets," added Mr. Harteveldt. "We
have made substantial progress with these additions already resulting in
improved market share. We will continue to add seasoned senior professionals
that expand the depth and breadth of our leveraged credit trading platform. With
these additions and the firm`s healthy financial condition, Jefferies is very
well-positioned to meet the needs of our clients and gain market share in the
high yield, distressed and bank loan markets."

Summary of Recent Hires

With seven recent hires, the firm`s high yield and distressed debt sales team
has grown to 17 professionals. Danielle Bar-Illan and Richard Wright joined from
Bear Stearns (JP Morgan Chase); Robert Hamill joined from Lehman Brothers;
Michael Kasper joined from JP Morgan Chase; Scott Haberman and Richard
Reubenstone joined from Merrill Lynch; and Steven Rosen joined from Deutsche
Bank.

Jefferies` sales team for performing and non-performing bank loans now totals
five professionals, including two recent additions: James Wood from UBS and
Richard Furlong from Bear Stearns (JP Morgan Chase).

In trading, Kurt Krestinski joined Jefferies from Barclays Capital. With 13
years of both buy- and sell-side experience trading high yield and distressed
securities, Mr. Krestinski trades the technology, retail and media sectors at
Jefferies.

The firm`s research teams for leveraged finance and special situations have
grown to 25 professionals. Two senior publishing analysts have recently joined
in leveraged finance, growing that team to 17 professionals, including 10 sector
analysts. Eric Toubin joined Jefferies from Bank of America where he had been an
analyst ranked by Institutional Investor for the last four years covering the
technology section. Additionally, John Maxwell joined from Merrill Lynch to
cover the gaming space, in which he has also been ranked by Institutional
Investor for the last four years.

Jefferies` special situations team has grown to seven analysts who are focused
on transaction-oriented ideas in all parts of the capital structure of leveraged
companies. The five recent additions include: Spencer Alstodt who joined the
firm from Bear Stearns where he focused on capital markets transactions; Justin
Brass who joined Jefferies from Paul Weiss where he advised both debtors and
creditors of bankrupt companies and companies undergoing reorganizations; Andrew
Brausa who joined from Citadel Investment Group where he focused on homebuilders
and building material companies; Kevin O`Brien who joined from Basso Capital
Partners where he focused on power, utility, and gaming companies, and Milun
Patel who joined from Credit Suisse where he focused on metal and mining,
energy, and automotive suppliers.

About Jefferies

Jefferies, an independent, full-service global securities and investment banking
firm, has served companies and their investors for more than 45 years.
Headquartered in New York City, with offices in more than 25 cities around the
world, Jefferies provides clients with capital markets and financial advisory
services, institutional brokerage, securities research and asset management. The
firm provides investors with fundamental research and trade execution in equity,
equity-linked, and fixed income securities, including corporate bonds, high
yield bonds, US government and agency securities, repo finance, mortgage- and
asset-backed securities, municipal bonds, whole loans and emerging markets debt,
as well as commodities and derivatives. Jefferies offers companies capital
markets, merger and acquisition, restructuring and other financial advisory
services. Jefferies & Company, Inc. is the principal operating subsidiary of
Jefferies Group, Inc. (NYSE: JEF: www.jefferies.com).

Jefferies & Company, Inc.
Tom Tarrant, 203-708-5989
ttarrant@jefferies.com
or
Jefferies International Limited
Desiree Maghoo, 44 20 7029 8085
dmaghoo@jefferies.com
or
Cubitt Jacobs & Prosek
Josh Passman, 212-279-3115, x203
jpassman@cjpcom.com

Copyright Business Wire 2009