Announcements

As one of the fastest growing firms on Wall Street, our Firm is brimming with activity and is often recognized for its unique capabilities. Below are some recent announcements about some of our recent activities and accolades.

June 25, 2008
Jefferies Captures Three "Deal of the Year" Awards from The Banker Magazine

For the second year in a row, Jefferies has won three of The Banker "Deal of the Year" Awards for transactions announced in 2007 involving companies in Bangladesh, Gabon and Mauritania.

Bangladesh: Jefferies served as sole financial advisor to Cairn Energy, one of the largest UK E&P independents, on selling 50% of its interests in Bangladesh.
Gabon: Jefferies served as sole financial advisor to BowLeven, a UK independent oil and gas company, on its $56 million acquisition of firstAfrica.
Mauritania: Jefferies served as sole financial advisor to BG Group plc on its $128 million sale of Mauritanian assets to KUFPEC, a Kuwait-based oil and gas company.

The Banker, a Financial Times publication, is a monthly magazine dedicated to the world's investment, retail and commercial banking sectors.
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May 2008
Jefferies Captures Nine FT/StarMine Analyst Awards!

Each year StarMine recognizes analysts who have turned in exemplary performances either as stock pickers or as earnings estimators during the prior year. In the US, Jefferies Equity Research analysts received nine awards in total, from a universe of 63 industries, based on the 2007 calendar year.

Daniel Fannon - Top 3 Industry Estimator in the Consumer Finance and Diversified Financial Services Industries
Douglas Mavrinac - Top 3 Industry Estimator and Top 3 Industry Stock Picker in the Marine Industry
Paul Fremont - Top 3 Industry Estimator and Top 3 Industry Stock Picker in the Multi-Utilities Industry
Adam Benjamin -Top 3 Industry Estimator in the Semiconductors & Semiconductor Equipment Industry
David Windley - Top 3 Industry Stock Picker in the Life Sciences Tools & Services Industry
Yvonne Varano - Top 3 Industry Stock Picker in the Machinery Industry

April 1, 2008
Jefferies Prime Brokerage wins 37 awards for "Best in Class" in the 2008 Global Custodian Survey

Jefferies' prime brokerage group made an impressive debut, winning 37 "Best in Class" awards in the 2008 Prime Brokerage Survey published by Global Custodian, the leading magazine covering the international securities services business. Jefferies offers a full-service integrated prime brokerage platform that includes execution, centralized custody, securities lending, capital introduction and web-based portfolio and risk reporting. Having launched just over a year ago, the group has already built a strong following among start-up, small- and mid-sized equity hedge funds, servicing more than 150 clients in the US.
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March 7, 2008
Jefferies Ranked Among Top 5 Full-Service Brokers!

Pensions & Investments' March 3rd issue featured the quarterly Tradewatch summary of the latest Plexus report, in which Jefferies ranked in the following categories

2^nd among best brokers (small trades – 10,000 shares or less) for lowest commissions among Research/Specialty Brokers
2^nd among best brokers (large trades – more than 10,000 shares) for lowest commissions among Research/Specialty Brokers

The Plexus Broker Universe is a transaction database compiled from trade data contributed by ITG Solutions Network Inc. The information presented is based upon four quarters of US equity trading data for the period ending September 30, 2007.

March 3, 2008
Jefferies Ranks #1 and #2 for Deals of the Year in Washington Technology

Jefferies' aerospace and defense investment banking group, Jefferies Quarterdeck, served as sell-side M&A advisor for the #1 and #2 "Big Impact Deals of the Year," as determined by Washington Technology, a leading industry publication covering business technology and government policy news. Factors considered include how the acquisition changed the company making the deal, the impact on the market, emergency of a new dealmaker, how the deal highlights trends in the market, overall size, closing multiple deals and the surprise factor.

#1 - Per Washington Technology, the sale of Scitor Corporation to Leonard Green and Partners LLP represented the first transaction for LGP in the government services sector.
# 2 - Per Washington Technology, the $580 million sale of Essex Corp. to Northrop Grumman Corp., could mark the start of a trend in large companies acquiring middle-tier publicly traded companies.

In 2007, our aerospace and defense practice announced or completed 38 transactions, valued at $6.7 billion, and ranked as the #1 aerospace and defense M&A advisor for three years running*. For more information on these awards, please visit: http://www.washingtontechnology.com/mergers_aquisitions/2007/big_impact_01.html

*Source: Thomson Financial/SDC, 2007. Includes mergers, acquisitions and minority investments with disclosed and undisclosed values. Excludes tender offers, exchange offers, self-tenders, repurchases, remaining interests, privatizations. Defense-related M&A transactions in North America and Western Europe reported 1/1/05-12/31/07, all values.

February 28, 2008
Jefferies' Shipping Client Captures "International IPO of the Year"!

Jefferies International Limited acted as Global Coordinator and Bookrunner and served as Nominated Adviser and broker to Globus Maritime Limited, a global provider of seaborne transportation services for dry bulk cargoes, on its June 2007 IPO. On February 1, 2008, the company received the award for the "International IPO of the Year" at the annual ceremony of the Quoted Company Awards, held at the Grosvenor House Hotel in London.

The Quoted Company Awards, organized by the Growth Company Investor magazine in association with Grant Thornton, recognizes the achievements of quoted companies listed below the FTSE 350. The criteria for the award were the amount of money raised, the costs of float and the timing as well as the type of company being floated, its size and its sector. The award is a tribute to the entire professional team involved in the IPO – company, broker and adviser.

For more information, please visit http://www.quotedcompanyawards.com/qca/shortlist/index.thtml.

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February 14, 2008
Jefferies Ranks as a Top Advisor for Growing and Mid-sized Companies for 2007

Jefferies ranked # 3 in transactions below $500mm and a Top 5 advisor for transactions under $1 billion in 2007, according to Thomson Financial. US transactions announced 1/1/2007 – 12/31/2007. Includes mergers, acquisitions and minority investments with disclosed and undisclosed values. Excludes tender offers, exchange offers, self-tenders, repurchases, remaining Interests, and privatizations.

The firm also ranks as a Top M&A Advisor in select industries, including Technology (#1), Energy (#1), and Defense (#1), according to Thomson Financial, Includes all industry related transactions as classified by Thomson Financial 1/1/07-12/31/07. Includes mergers, acquisitions and minority investments with disclosed and undisclosed values. Excludes tender offers, exchange offers, self-tenders, repurchases, remaining interests, privatizations. Technology M&A transactions in North America and Western Europe announced 1/1/07–12/31/07. Energy M&A transactions announced 1/1/07–12/31/07. Defense-related M&A transactions in North America and Western Europe reported 1/1/07–12/31/07.

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January 28 - February 1, 2008
CNBC "Squawk on the Street" to feature Jefferies Research Analysts 1/28-2/1 (Rescheduled)

Beginning Monday 1/28, CNBC's "Squawk on the Street" news program will feature five of Jefferies' equity research analysts to provide commentary on their respective sectors as part of a week-long series focused on the outlook for 2008. In addition, Jefferies' Art Hogan, Director of Global Equity Product, will also appear as part of his weekly guest spot on the program. Below is the schedule of appearances and topics to be discussed.

Monday 1/28 9:50am EST: Doug Mavrinac - Energy, Maritime & Logistics
Tuesday 1/29 9:50am EST: Daniel Fannon - Financial Services, Exchanges and Asset Managers
Wednesday 1/30 9:50am EST: Larry Klatzkin - Gaming
Thursday 1/31 9:50am EST: Art Henderson - Healthcare Services
Friday 2/1 at 9:00am EST: Art Hogan - General market commentary
Friday 2/1 at 9:50am EST: Youssef Squali - Internet and New Media

Schedule subject to change. CNBC Squawk on the Street gives viewers all the up-to-the minute news from every major market around the world.
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January 25, 2008
Jefferies Ranks as Top High Yield Underwriter

Jefferies has been named "High Yield Underwriter of the Year" for 2007 in the January 25th issue of Leverage World, beating out competitors like Credit Suisse, Merrill Lynch, Deutsche Bank and Lehman Brothers, among others. These annual awards recognize consistently strong aftermarket performance of new issues. With data provided by FridsonVision, LLC, Jefferies top ranking was based on spread change after issuance, and the Firm's overall score was the best among all underwriters. Jefferies also ranked among the top 10 based on overall volume of lead-managed transactions, with 21 issues. In addition to Leverage World, Thomson Financial/SDC also ranked Jefferies as the top underwriter of 2007 high yield US new issues valued at $300 million and under, as well as the top underwriter of high yield US new issues valued at $150 million and under for seven years running (excludes split-rated, mortgage and asset-backed securities. Full credit to lead manager, equal if joint.).

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January 11, 2008
Jefferies Adds Senior E&P Analyst to Energy Research Team

Biju Perincheril to Expand Exploration & Production Coverage
Subash Chandra Appointed US E&P Group Head

Jefferies has announced the hiring of Biju Z. Perincheril as a Senior Vice President and Equity Research Analyst to cover growth and midcap Exploration & Production companies. Mr. Perincheril, who will be based in the firm's New York headquarters, joins Jefferies' other senior E&P analysts, Subash Chandra, CFA in New York, who has been appointed US E&P group head, David C. Adams in Houston, and Charles W. Sharp in London, in providing global equity research coverage of this critical industry.

Jefferies' coverage of the Global Energy and Alternative Energy / Clean Technology sectors now consists of 13 senior analysts in equity focused on exploration and production, oil services, offshore & onshore drilling, shipping, logistics, energy transportation, gas utilities, electric utilities, and emerging technologies in the nuclear, solar and wind industries, as well as batteries and fuel cells. This continued expansion of resources demonstrates Jefferies' overall commitment to these strategic and thriving segments of the world economy.

Mr. Perincheril was most recently a senior analyst covering Exploration & Production companies at Fortis Securities, LLC. Prior to Fortis, Mr. Perincheril covered oilfield services as a senior research associate at Jefferies, and covered oil and gas E&P in a similar role with Banc of America Securities. Previously, he spent six years on the production side with AlliedSignal, Inc., now Honeywell International. He has an MBA in Finance from Tulane University and a BE in Chemical Engineering from City College of New York.
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January 8, 2008
Jefferies International Headquarters Move To Vintners Place, London

Jefferies International Limited, the UK subsidiary of US-based Jefferies Group, Inc. (NYSE: JEF), today announced the relocation of its headquarters to Vintners Place in the City of London. The move consolidates the Firm's five London locations, bringing together nearly 350 investment banking, sales, trading, research and asset management professionals.

Over the past two years, Jefferies' presence in Europe and the Middle East has grown by 50% to nearly 400 employee-partners. The Firm has also recently opened offices in Germany and India as part of its wider international expansion strategy.
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December 20, 2007
Jefferies Announces Results of CleanTech Survey

Investment in CleanTech Expected to Increase by at Least 50% in the Next Two Years
Jefferies CleanTech Index Has Climbed 85% YTD

Jefferies International Ltd. announced the results of a survey which reveals that investment sentiment towards cleantech remains strong, signalling continued support for the sector which is up 85% YTD according to the Jefferies Global Composite Cleantech Index.

The respondents comprised institutions and hedge funds following Jefferies' 4th Global Clean Technology Conference in London attended by investors representing over $250bn of assets, which featured presentations from over 30 leading European, Asian and US companies across the clean technology and alternative energy industry. Key findings include:

Over 80% of the investors surveyed believe that global investment in cleantech will increase by at least 50% in the next two years. This has shot up from just under 50% of investors last year, highlighting the growth of confidence in the sector.
Over 90% of respondents believe that we will see the "crossover point" between the cost of producing solar energy and the retail cost of fossil fuel by 2020. Investors were divided as to whether cost reductions in existing technologies, thin film or other new technologies, or increased cost of fossil fuels would have the greatest impact on achieving the crossover point between the cost of producing solar energy and the retail cost of fossil fuel alternatives.
Nearly 70% of respondents believe that less than 30% of renewable energy demand in 2010 will come from developing countries such as China and India.
Nearly 70% of respondents believe that feed-in tariff regulation will drive most of the growth in end market demand for renewable energy.
Opinion is evenly divided as to whether waste management or clean water is set to become the largest non-energy category for cleantech by 2010. Only 10% believe that clean air will take second place to alternative energy.

The clean technology sector has performed very strongly as reflected in the Jefferies Clean Energy Composite Index showing a YTD increase of over 85%. The index was launched in 2006 as part of Jefferies' firm-wide commitment to the global clean technology sector. In addition to the composite index, Jefferies also launched targeted sub-indices tracking companies focused on energy generation, energy storage and industrial biotechnology. For more information about Jefferies family of indices, visit www.jefferies.com/indices.
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December 10, 2007
Jefferies Recognized Among Key Players in the Growth Market!

AlwaysOn and KPMG recently announced the winners of the first annual "AO Top Dealmakers List." Honorees included top firms and individuals in the growth market. Winning dealmakers were rewarded for the total dollars transacted or invested as well as M&A and IPO success in the global tech, media & entertainment, and greentech sectors in the last twelve months. Jefferies ranked as the #1 investment bank in the boutique category. Paul Deninger, a Vice Chairman at Jefferies, was recognized among the top investment banking professionals.

The list also included the "AO Industry Analyst All-Star Team" made up of the most influential analysts in their respective sectors. Among those honored were senior equity research analysts, Youssef Squali for Consumer & Media, and Katherine Egbert for Enablers (technology).
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November 12, 2007
Jefferies Ranks Among Top 10 Brokerages!

Institutional Investor's 11th annual survey of global transaction costs ranked Jefferies #9 among brokerage firms in Nasdaq trading, with a score of 8.9 basis points. The results of the survey, conducted by New York research firm Elkins/McSherry, are featured in an article entitled "Addition by Subtraction," authored by Justin Schack in II's November Issue. The survey measures trading during the twelve months ending June 30, 2007, and compares the transaction costs of top investment managers and brokerages, benchmarked against volume-weighted average price.
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October 24, 2007
Jefferies Earns 14 Analyst Honors in the 2007 Annual Starmine Analyst Awards

In the US, Starmine and Forbes.com awarded the top ten stock pickers and earnings estimators in 61 industries. For the Nordic Region, Starmine and Dagens Industri awards awarded the top ten stock pickers and earnings estimators overall, and the top three stock pickers and earnings estimators in 12 industries. For the UK and Ireland, Starmine and The Sunday Times identified the top ten stock pickers and earnings estimators overall, and the top three stock pickers and earnings estimators in 17 industries. For France, StarMine and Les Echos awarded the top ten stock pickers and earnings estimators overall, and the top three stock pickers and earnings estimators in 17 industries. :

#1 Estimator in the Health Care Technology Industry (US) - Richard Close
#1 Estimator in the Marine Industry (US) - Douglas Mavrinac
#1 Stock Picker in the Metals & Mining Industry (US) - Robert Schenosky
#2 Estimator in the Internet Software & Services Industry (US) - Youssef Squali
#2 Nokia/Ericsson Estimator (Nordic Region) - Ian MacLeod
#2 Stock Picker in the Retail & Consumer Products Industry (FR) Gregory Jette
#2 Estimator in the Restaurants Industry (US) - Aimee Marcel*
#3 Stock Picker in the Health Care Industry (UK & Ireland) - Robin Campbell
#3 Estimator in the Retail & Consumer Products Industry (FR) - Gregory Jette
#3 Estimator in the Energy Industry (UK & Ireland) - Charlie Sharp
#4 Overall Stock Picker (US) - Debra Bromberg
#5 Overall Estimator (FR) - Gregory Jette
#5 Overall Stock Picker (FR) - Guy Thornewill**
#7 Overall Estimator (FR) - Ian MacLeod

*no longer with Jefferies as of February 2007
** no longer with Jefferies as of June 2007
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October 22, 2007
Hedge Funds Rank Jefferies Among Top Ten Trading Firms!

Alpha Magazine, an Institutional Investor publication focused on the hedge fund community, recently announced the results of its inaugural Top Equity Trading Firms survey. The ranking, published in the magazine's September issue as part of an article entitled, "Personal Touch," was based on a survey of more than 300 hedge fund firms who voted Jefferies #7 when it comes to Traditional Expertise & Market Knowledge and #10 in Traditional Execution.

In conjunction, www.Alphamagazine.com published a more detailed ranking in which Jefferies ranked among the top 10 in more than 20 unique categories! Below is a summary of the rankings.

Traditional Expertise & Market Knowledge	Traditional Execution
#7 Overall	#10 Overall

Asset Size	Asset Size
#4 (1 billion - 5 billion)	#6 (100 million - 249 million)
#5 (100 million - 249 million)	#7 (less than 24 million)
#6 (less than 24 million)	#7 (1 billion - 5 billion)

Investment Style	Investment Style
#4 Arbitrage	#6 Directional
#6 Directional	#9 Special Situations
#8 Special Situations	#10 Arbitrage

Investment Market	Investment Market
#5 U.S.	#6 Japan
#7 Europe	#7 Emerging Markets
#7 Emerging Markets	#9 Europe
#8 Asia	#10 Asia
#10 U.S.

September 2007
Jefferies' Clean Tech Client Captures Equity Deal of the Year at 'Green Oscars'!

At September's 2007 Annual Euromoney and Ernst & Young Global Renewable Energy Awards, dubbed the 'Green Oscars', Energy Photovoltaics, Inc., now EPV Solar, a Jefferies client and thin-film solar module manufacturer and technology developer, took home the "Equity Deal of the Year" for the technology sector. EPV was one of a dozen honorees recognized for driving growth in the renewable energy industry sector.

Jefferies served as sole placement agent for EPV in the award-winning June 2007 $77.5 million Pre-IPO Convertible Notes offering. In a press release issued by EPV, CEO Scott T. Massie commented, "this prestigious award recognizes the structure of the equity deal, the magnitude of the capital raise, and EPV's growing position in the renewable energy market. EPV recognizes and thanks Jefferies for its creativity and support in structuring and completing the financing."

June 3, 2007
Robert F. Kennedy Jr. Keynotes Jefferies 3rd Global Clean Technology Conference

Robert Kennedy, Jr., Senior Attorney, Natural Resources Defense Council & President, Waterkeeper Alliance, served as keynote speaker at Jefferies 2nd Annual US Clean Technology Conference. The conference drew over 750 attendees, more than double that of the 2005 US conference, with 36 companies presenting, including Renewable Energy Corp., FuelCell Energy, and Pacific Ethanol. The one-day conference explored sustainability challenges with a range of technologies, including solar power, fuel cells, ultracapacitors, advanced batteries, microturbines, energy demand response, energy infrastructure, biofuels, biomaterials and hydrogen generation.

Members of the media were also in attendance. MarketWatch summarized the event in an article entitled, "Wall Street Interest in Clean Tech Grows." The article quoted both Paul Deninger, Chairman of Jefferies Broadview, and Jeff Lipton, a Managing Director in the Firm's CleanTech investment banking group, and touched on rising investor interest in clean technology companies, performance of clean technology stocks and Jefferies' proprietary clean technology indices. MarketWatch also posted a more in-depth online interview with Mr. Deninger, in which he elaborated on growth in the sector.

Jefferies has established itself as a leader in clean technology. The Firm has successfully hosted three conferences in the US and UK, and is planning a UK Clean Technology Conference for later this year.

See the Video

June 1, 2007
Jefferies Ranks Among Top 5 Brokers

In the June 2007 issue of Bloomberg Markets, an article titled "The World's Best Brokers" ranked Jefferies #5 among Top Brokers in 2006, based on minimizing transaction costs, according to Ancerno, Ltd. The article also explored the pressures that brokers face in order to get the best possible stock prices for fund managers, and quoted Ross Stevens, Co-head of Equities.

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May 21, 2007
Jefferies research ranks among Top 5 in WSJ "Best on the Street 2007 Analysts Survey"

Jefferies' Equity Research ranked 5^th among the 85 firms included in The Wall Street Journal's 15^th Annual "Best on the Street" analyst survey. Of the 223 analysts honored across 45 industries, seven of Jefferies' 31 qualifying analysts won awards based on their ability to pick the stocks with the best returns in this quantitative analysis. The top five analysts in each category were culled from more than 1,700 eligible analysts, based on data from more than 4,000 analysts at more than 280 firms.

The following analysts ranked among the Top 5 for their respective industries, three of whom have been previously ranked by The WSJ:

#1 Stock Picker in Heavy Machinery and Materials – Robert Schenosky (4th year)
#1 Stock Picker in the Health-Care Providers Industry – David Windley (3rd year)
#1 Stock Picker in the Utilities Industry – Debra Bromberg (3rd year)
#2 Stock Picker in the Oil & Gas Producers Industry – Leo P. Marani*
#3 Stock Picker in the Industrial Transportation Industry – Douglas J. Mavrinac
#4 Stock Picker in the Chemicals Industry – Laurence Alexander
#4 Stock Picker in the Consumer & Specialty Industry – Daniel Fannon

*no longer with Jefferies as of Mid-2006

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May 11, 2007
Jefferies Captures Best Real-Time Market Data Initiative Award

At the recent Inside Market Data Awards ceremony, Jefferies won "Best Real-Time Market Data Initiative Award" for JETS (Jefferies Electronic Trading Solution). Rolled out just this past year, JETS is a robust front-end trading tool that enables clients to easily employ a wide variety of complex direct market access and Jefferies proprietary algorithmic trading strategies. IMD awards recognize industry excellence within market data, reference data and enterprise data management and celebrate the outstanding companies, people and products of the previous year.

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May 9, 2007
Jefferies' Gets a Lift From Moody's

In a report dated May 8, 2007 Moody's Investors Service recently raised the rating outlook on the long-term debt of Jefferies Group, Inc. to positive from stable. Jefferies is currently rated Baa1 by Moody's Investor Service; BBB+ by Standard & Poor's, and BBB+ by Fitch Ratings. Our credit standing is very important to Jefferies, and preserving our liquidity and maintaining a balanced approach to risk remain priorities for our management team as part of a strong and liquid capital position.

View the latest investor presentation

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May 3, 2007
Jefferies Captures Three "Deals of the Year" Awards from The Banker

Jefferies captured three "Deals of the Year" awards for client transactions involving companies in Norway, Greece and Madagascar from The Banker, a Financial Times publication dedicated to the world's investment, retail and commercial banking sectors.

At The Banker Deals of the Year Awards Dinner, held 2 May at the Ritz Carlton in Manama in the Kingdom of Bahrain, Karim Jaroudi of Jefferies' Dubai office, accepted the awards on behalf of Jefferies, a global investment bank and institutional securities firm focused on growing companies and their investors.

The award-winning transactions included:

Norway: Jefferies Randall & Dewey advised US-based Anadarko Petroleum Corporation on its $901 million divestiture of Gulf of Mexico assets to Norway-based Statoil ASA
Greece: Jefferies & Company, Inc. served as global coordinator and joint bookrunner for the $204 million IPO for Omega Navigation Enterprises
Madagascar: Jefferies Randall & Dewey served as sole placement agent on the $60 million Private Placement for Madagascar Oil

Learn More about Jefferies Investment Banking Practice

April 18, 2007
Jefferies Named 2006 Middle Market Investment Bank of the Year by Thompson Financial's Buyouts Magazine!

Jefferies & Company, Inc. has been named the "Mid-Market Investment Bank of the Year for 2006 by Buyouts Magazine, a Thomson Financial publication providing news, data analysis and interpretation of sponsored LBOs. At the April 17^th, Buyouts' Deal of the Year Awards ceremony, held at the Grand Hyatt Hotel in New York City, Adam Sokoloff, Managing Director and Group Head of Financial Sponsors & Private Capital Group, accepted the award on behalf of Jefferies, a growing investment bank and institutional securities firm focused on growing companies and their investors. Buyouts cited Jefferies as one of the few firms that "can advise on either side of a deal, arrange debt and, years later when a portfolio company matures, underwrite the IPO."

Investment Dealers' Digest named Jefferies as the Middle Market Investment Bank of the Year in 2005, calling the firm "one of a kind." The Firm's commitment to the middle market is both deep and broad across a range of industries, products and services. It has been a natural area of focus since Jefferies' founding in 1962 and a stated goal for well over a decade.

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February 1, 2007
Jefferies Ranks as a Top Underwriter for Growing and Mid-sized Companies for 2006

Jefferies ranked #1 on Wall Street for the performance of lead-managed equity underwritings, according to Dealogic, in 2006. Dealogic, 2006. Average after-market performance weighted by deal value. SEC registered and US exchange listed deals only. Firms with greater than 10 deals.

Jefferies also maintained leadership in U.S. Single-B high yield new issues under $150 million, ranking #1 since 2001, according to Thomson Financial. 2001-2006. Excludes split rated, mortgage and asset-backed securities. Full credit to lead manager, equal if joint.

Learn more about our Underwriting Practice

February 1, 2007
Jefferies Ranks as a Top Advisor for Growing and Mid-sized Companies for 2006

Jefferies ranked #1 in transactions below $500mm and a Top 10 advisor for transactions under $1 billion in 2007, according to Thomson Financial. US transactions announced 1/1/2006 – 12/31/2006. Includes mergers, acquisitions and minority investments with disclosed and undisclosed values. Excludes tender offers, exchange offers, self-tenders, repurchases, remaining Interests, and privatizations.

The firm also ranks as a Top M&A Advisor in select industries, including Technology (#1), Defense (#1), and Energy (#1), according to Thomson Financial, Includes all industry related transactions as classified by Thomson Financial 1/1/06-12/31/06. Includes mergers, acquisitions and minority investments with disclosed and undisclosed values. Excludes tender offers, exchange offers, self-tenders, repurchases, remaining interests, privatizations. Technology M&A transactions in North America and Western Europe announced 1/1/06–12/31/06. Energy M&A transactions announced 1/1/06–12/31/06. Defense-related M&A transactions in North America and Western Europe reported 1/1/06–12/31/06.

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February 1, 2007
Jefferies Ranks as a Top Trader for 2006

Jefferies ranked as a Top 5 trader of over 2,400 stocks in 2006, according to AutEx�, BLOCKDATA, 01/1/06-12/31/06

The Firm also ranked #2 among brokerages, based on minimizing total transaction costs, according to Elkins/McSherry (7/05-6/06). Includes brokerages with greater than $250 million in principal traded.

Learn more about Jefferies Equity Sales & Trading

January 18, 2007
Jefferies Announces Seventh Consecutive Record Annual Results

Jefferies Group, Inc. (NYSE: JEF) announced a seventh consecutive year of record financial results.

Highlights for the record year ended December 31, 2006:

Net revenues were up 21% to a record $1.5 billion, versus $1.2 billion for 2005.
Net earnings were up 31% to a record $205.8 million, compared to $157.4 million for 2005.
Fully Diluted EPS were up 22% to a record $1.42, compared to $1.16 for 2005.

View the press release

November 14, 2006
Jefferies to present at Merrill Lynch Financial Services Conference

Jefferies' Chairman and Chief Executive Officer, Richard B. Handler, will present at the Merrill Lynch Financial Services Conference in New York City on November 14, 2006.

View our latest investor presentation

November 4, 2006
Jefferies Sits Down with Alan Greenspan

Paul Deninger, a vice chairman of Jefferies & Company, recently engaged in a lively Q&A with Dr. Alan Greenspan on September 25th at the Massachusetts Technology Leaders Council's annual Fall Membership Meeting. Deninger and Greenspan covered a broad range of timely topics including Sarbanes-Oxley reform, future technology trends, education reform, alternate energy, globalization and the emergence of China as a force in the world economy. The event was attended by more than 800 industry executives, venture capitalists, private equity investors and institutional investors, including many of Jefferies clients.

"It was an honor to interview the former Fed Chairman," commented Mr. Deninger, who also serves as Chairman of Jefferies Broadview, the firm's technology investment banking group. "I found him to be both insightful and incredibly candid, with an unassuming wit and charm. He had the audience in his hands. He is truly an icon."

Alan Greenspan served as Chairman of the Board of Governors of the Federal Reserve System for 18 years, and as Chairman of the Federal Open Market Committee, the System's principal monetary policymaking body. In that role, he advised the presidents of four administrations and influenced countless leaders and nations on the future of the world economy.

November 2, 2006
Jefferies to present at KBW 2006 Securities Brokerage Conference

Jefferies Chairman and Chief Executive Officer, Richard B. Handler, will present at the Keefe, Bruyette & Woods 2006 Securities Brokerage Conference in New York City on November 2, 2006. Mr. Handler will present at 12:45 PM Eastern. A live audio webcast of the presentation will be broadcast over the Internet and can be accessed via Jefferies Web site, www.jefferies.com/1106KBW. An audio replay of the presentation will also be available at this location for 14 days.

View our latest investor presentation

October 17, 2006
Jefferies Announces Third Quarter Financial Results

Jefferies Group, Inc. (NYSE: JEF) today announced financial results for the third quarter ended September 30, 2006.

Highlights for the nine months ended September 30, 2006 include:

Net revenues were up 26% to a record $1.1 billion, versus $861.8 million for the first nine months of 2005.
Net earnings were up 35% to a record $150.0 million, compared to $110.7 million for the first nine months of 2005.
Earnings per share (diluted) were up 27% to a record $1.04, compared to $0.82 for the first nine months of 2005.
Investment banking revenues were up 21% to a record $395.4 million, versus $327.5 million for the first nine months of 2005.
Total trading revenues were up 26% to a record $561.7 million, versus $447.2 million for the first nine months of 2005.

View the press release

October 17, 2006
Jefferies Hosts European Alternative Energy & Cleantech Conference

Jefferies hosts European Alternative Energy & Cleantech Conference in London.

For additional information, please visit http://www.jefferies.com/events

October 12, 2006
Jefferies hosts 2nd Annual Automotive Conference

Jefferies will host its 2nd Annual Automotive Conference on October 12, 2006 in New York City.

For additional information, please visit http://www.jefferies.com/events

October 6, 2006
Jefferies Ranks as a Top Underwriter for Growing and Mid-sized Companies

Jefferies ranked #2 on Wall Street for the performance of lead-managed equity underwritings, according to Dealogic, in 3Q 2006. Transactions under $500 million, excludes REITs, UNITs, closed-end funds, capital pool companies, acquisition/restructurings and private placements.

Jefferies also maintained leadership in U.S. Single-B high yield new issues under $150 million, ranking #1 since 2001, according to Thomson Financial. 2001-2005; 1/1/06-9/30/06. Excludes split rated, mortgage and asset-backed securities. Full credit to lead manager, equal if joint.

Learn more about our Underwriting Practice

October 6, 2006
Jefferies Ranks as a Top Advisor for Growing and Mid-sized Companies

Jefferies ranked #1 in M&A transactions below $250mm and #2 in transactions below $500mm for the first three quarters of 2006, according to Thomson Financial. US transactions announced 1/1/2006 - 9/30/2006. Includes mergers, acquisitions and minority investments with disclosed and undisclosed values. Excludes tender offers, exchange offers, self-tenders, repurchases, remaining Interests, and privatizations.

The firm also ranks as a Top M&A Advisor in select industries, including Technology (#1), Defense (#1), and Energy (#2), according to Thomson Financial, Includes all industry related transactions as classified by Thomson Financial 1/1/06-9/30/06. Includes transactions where the value was undisclosed. Excludes tender offers, exchange offers, self-tenders, repurchases, remaining Interests, privatizations. Defense transactions based in North America or Western Europe, all values. Technology transactions based in North America or Western Europe, $0-1 billion (excludes Biotech and Telecommunications Equipment). Energy transactions based in the U.S., all values.

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October 3, 2006
Jefferies Ranks as a Top Trader Among Investment Banks

Jefferies ranked #2 among investment banks in the trading of NASDAQ and Distressed stocks, year to date in 2006, according to AutEx®, BLOCKDATA, 01/1/06.10/1/06. Ranking among investment banks, based on NASDAQ Global Markets, Capital Markets and Bulletin Board combined share volume as a percentage.

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September 27-28, 2006
Jefferies Hosts 3rd Annual Shipping Conference

Jefferies will host its 3rd Annual Shipping Conference on September 27-28, 2006 in New York City.

For additional information, please visit http://www.jefferies.com/events

September 11-12
Jefferies Hosts 4th Annual Communications & Media Conference

Jefferies will host its 4th Annual Communications & Media Conference on September 11 - 12, 2006 in New York City.

For additional information, please visit http://www.jefferies.com/events

August 22, 2006
Jefferies Ranks as a Top Trader

Pensions & Investments' August 22nd issue featured the quarterly Tradewatch summary of the latest Plexus report and ranked Jefferies #5 for best execution of all exchange-listed stock trades. In addition, Jefferies ranked #5 in execution of small-cap exchanged listed stocks and #2 in execution of large-cap, illiquid, NASDAQ-listed stocks.

Jefferies also ranked # 2 among investment banks in the trading of NASDAQ and Bulletin Board stocks in first half of 2006, according to AutEx� BlockDATA, based on percentage volume traded.

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August 16-18
Jefferies Hosts 2nd Annual Industrial CEO Summit

Jefferies will host its 2nd Annual Industrial CEO Summit and Golf Outing in Kohler, Wisconsin.

For additional information, please visit http://www.jefferies.com/events

July 18, 2006
Jefferies Announces a Record First Half

Jefferies Group, Inc. (NYSE: JEF) announced quarterly financial results and first half for the quarter ended June 30, 2006.

Highlights for the first six months ended June 30, 2006:

Total revenues were up 43% to a record $981.2 million versus $688.1 million for the first half of 2005.
Net revenues were up 32% to a record $742.8 million versus $562.6 million for the first half of 2005.
Net earnings were up 44% to a record $104.0 million compared to $72.1 million for the first half of 2005.
Earnings per share (diluted) were up 35% to a record $0.73 compared to $0.54 for the first half of 2005. (This increase in earnings per share included $0.01 related to the cumulative effect of a change in accounting principle, net of tax.)
Investment banking revenues were up 14% to $250.7 million versus $220.0 million for the first half of 2005.
Total trading revenues were up 39% to $394.7 million versus $284.6 million for the first half of 2005.

View the press release

July 8, 2006
Jefferies Ranks as Top Underwriter

Jefferies ranked #1 on Wall Street for the performance of lead-managed equity underwritings, according to Dealogic, as of 2Q 2006. Includes SEC Registered lead-managed IPOs & FOs for the 18 months ended 2Q 2006, excludes best efforts & closed end funds; only firms with at least 25 lead managed deals are shown.

Jefferies also maintained leadership in U.S. Single-B high yield new issues under $150 million, ranking #1 underwriter of U.S. single-B high yield new issues under $150 million since 2001, according to Thomson Financial. 2001-2005; 1/1/06-6/30/06. Excludes split rated, mortgage and asset-backed securities. Full credit to lead manager, equal if joint.

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July 8, 2006
Jefferies Ranks as Top Advisor

Jefferies Ranked as a Top 5 M&A Advisor of transactions up to $1 billion and #1 in M&A transactions up to $250 million, according to Thomson Financial. Based on the number of U.S. transactions announced 1/1/06 - 6/30/06, All Industries. Includes transactions where the value was undisclosed. Excludes: tender offers, exchange offers, self-tenders, repurchases, remaining interests, privatizations.

The firm also ranks as a Top M&A Advisor in select industries, including Energy (#2), Technology (#1) and Defense (#1), according to Thomson Financial, Includes all industry related transactions as classified by Thomson Financial announced in the first half of 2006. Includes transactions where the value was undisclosed. Excludes tender offers, exchange offers, self-tenders, repurchases, remaining interests and privatizations. Defense transactions based in North America or Western Europe, all values. Technology transactions based in North America or Western Europe, $0-1 billion. Energy transactions based in the U.S., all values.

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June 28, 2006
Jefferies Honors "Institutional Investor of the Year" at AlN Hedge Fund Industry Awards

Jefferies is the exclusive sponsor of the the "Institutional Investor of the Year" category at the 4th Annual Alternative Investment News Hedge Fund Industry Awards at Gotham Hall in New York City on June 28, recognizing the hedge funds, funds of funds, endowments, foundations, and corporate and public pension funds that have made significant impacts on the hedge fund industry over the past year.

Jefferies works with hedge funds in a number of capacities, including equity sales and trading, equity derivatives, prime brokerage, correspondent clearing, securities finance and our dedicated private equity coverage group.

June 27-28, 2006
Jefferies Hosts Life Sciences Conference

Jefferies will host its Life Sciences Conference New York City on June 27-28 in New York City.

For additional information, please visit http://www.jefferies.com/events

June 12, 2006
Jefferies Ranks Among Top Firms for Best Execution

Pensions & Investments' June 12th issue featured the quarterly Tradewatch summary of the latest Plexus rankings and ranks Jefferies #5 for best execution of all exchange-listed stock trades. In addition, Jefferies ranks #2 in execution of large-cap, exchanged listed stocks and #3 in execution of small-cap, illiquid, exchange-listed stocks.

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June 7, 2006
Jefferies Hosts 3rd Annual Specialty & Post-Acute Services Conference

Jefferies will host its 3rd Annual Specialty & Post-Acute Services Conference on June 7, 2006 in New York City. CEOs and Industry Representative will make presentations and participate in roundtable discussions on senior living services/assisted living, skilled nursing, institutional pharmacy, behavioral health, ambulatory surgery, and home healthcare industries.

For additional information, please visit http://www.jefferies.com/events

May 22, 2006
Jefferies Equity Research Earns Five Awards in The Wall Street Journal "Best on the Street 2006 Analysts Survey"

Jefferies ranks 15th among the 72 firms included in The Wall Street Journal's 14th Annual "Best on the Street" analysts survey. Of the 220 analysts honored across 44 industries, five of Jefferies' 28 qualifying analysts won awards based on their ability to pick the stocks with the best returns in this quantitative analysis.

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May 16, 2006
Jefferies Hosts Alternative Energy & Cleantech Conference

Jefferies will be hosting an Alternative Energy & Cleantech Conference on Tuesday, May 16th at The St. Regis Hotel in New York City. We will highlight many of the leading companies who are addressing today's critical energy supply and security issues and environmental concerns with a range of technologies, including solar power, fuel cells, ultracapacitors, advanced batteries, microturbines, and hydrogen generation.

For more information, please visit http://www.jefferies.com/events

May 5, 2006
Jefferies Equity Research Secures Nine Awards In Forbes.com/StarMine 2005 "North America's Top Analyst Survey"

Six Jefferies analysts received nine awards in recognition of their performance in stock recommendations and accuracy of earnings estimates in Forbes.com/StarMine's annual North America's Top Analysts Survey.

This year's awards were given to the top ten stock pickers and earnings estimators in 61 industries. This year's Jefferies' award winners included:

StarMine 2005 Awards - Top Industry Stock Pickers
Rank	Analyst	Industry
1	Paul Fremont	Multi-Utilities
1	Robert Routh	Media
2	Paul Fremont	Electric Utilities
2	David Windley	Pharmaceuticals

StarMine 2005 Awards - Top Industry Earnings Forecasters
Rank	Analyst	Industry
1	Paul Fremont	Electric Utilities
1	Youssef Squali	Internet Software & Services
2	David Windley	Pharmaceuticals
2	Richard Shane	Consumer Finance
3	Magnus Fyhr	Marine

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May 8, 2006
Jefferies Extends UK Equity Capital Markets Advisory Capabilities with NOMAD Accreditation

Jefferies' International Ltd. was recently granted Nominated Adviser (NOMAD) status on the Alternative Investment Market (AIM), the London Stock Exchange's global market for smaller, growing companies. JIL's NOMAD status strengthens our firm's global capital market's capabilities and builds on our long-standing ability to serve growing and mid-sized companies. JIL can now offer a full range of capital markets expertise including equity and debt securities trading and placement, M&A advisory and corporate broking to our clients.

May 3, 2006
Jefferies Releases 2006 Russell Reconstitution Analysis

Jefferies released its 2005 Russell Reconstitution Analysis projecting the anticipated changes to Frank Russell 1000, 2000 and 3000 Indices, due to the upcoming annual reconstitution. Entering the fifth year of its Russell Reconstitution coverage, Jefferies' Portfolio Trading desk continues to provide its client base with accurate predictions, market insight and trading expertise. The analysis may assist both active and passive investors in generating trade ideas and in preparing for the upcoming event. Weekly projection updates including a list of the preliminary additions and deletions to the Russell Indices, performance spread, and summary of Russell Index changes by sector can be monitored on Jefferies' Portfolio Trading web site. For more information contact Jefferies' Portfolio Trading Desk at 888.315.5333.

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April 24, 2006
Jefferies Equity Research Ranked in Time Magazine
Time Magazine's April 24th article, in the Global Business Section, "Who Do You Trust? Wall Street rules have changed but there are still conflicts to be avoided", ranked Jefferies research #1 among investment banks, and #3 overall, for annualized return on analysts' stock picks among the Russell 2000 for the two years, ending April 1, 2006

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April 1, 2006
Jefferies Equity Research Ranked in Institutional Investor

The April edition of Institutional Investor featured the annual "Home-Run Hitters" survey, and named the top sell side analysts during 2005. Frank Bracken, a former senior equity research analyst covering the energy sector, ranked as a top gainer among large-cap stocks as tracked by FactSet Research Systems. Frank recently transferred to our energy investment banking group, Randall & Dewey.

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April 1, 2006
Jefferies Equity Research Analyst Ranked in Starmine
In the 2005 StarMine "Analyst Awards" for the Nordic Region, London-based Ian Macleod, a senior vice president and equity research analyst, ranked #2. StarMine rankings are based upon the return stock recommendations and the accuracy of earnings estimates.

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March 31, 2006
Jefferies Ranks as a Top 5 M&A Advisor on Wall Street for Deals Under $1 billion

According to Thomson Financial, based on transactions announced in the first quarter of 2006 (1/1/06-3/31/06), Jefferies is a Top 5 M&A advisor on Wall Street for deals under $1 billion, and ranks #1 in M&A transactions under $250 million. Includes transactions where value is undisclosed. Excludes: tender offers, exchange offers, self-tenders, repurchases, remaining interests and privatizations.

Learn more about Jefferies M&A Advisory

February 22, 2006
Jefferies Awarded Best Execution for Exchange Listed Stocks (All Trades)

Pensions & Investments' March 6th issue featured the quarterly Tradewatch summary of the latest Plexus rankings and ranked Jefferies #1 for best execution of all exchange-listed stock trades and #1 execution of large-cap, exchanged listed stocks.

The Plexus Broker Universe is a transaction database compiled from trade data contributed by ITG Solutions Network Inc. This ranking is based upon four quarters of US equity trading data for the period ended Sept 30, 2005.

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January 18, 2006
Jefferies Announces Six Consecutive Years of Record Results

Jefferies Group, Inc. (NYSE: JEF) announced record quarterly financial results for the quarter ended December 31, 2005, including a 25% increase in total revenues to a record $1.5 billion; a 20% increase in net earnings, up to a record $157.4 million, and 13% increase in earnings per share (diluted) to a record $2.32; and a 40% increase in investment banking revenues to a record $495.0 million.

View the Earnings Release

January 16, 2006
Jefferies Named "2005 Middle Market Investment Bank of the Year"!
Investment Dealers' Digest Magazine, a publication dedicated to the trends, new products and the happenings on Wall Street, announced the winners of its annual Middle Market Investment Bank of the Year survey and awarded Jefferies top honors as the middle market's most dominant player in 2005.

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January 1, 2006
Jefferies Ranks as a Top High Yield Underwriter for Four Years Running

According to data from Thomson Financial, Jefferies has ranked as the top underwriter of U.S. Single B new issues under $150 million for the past four years. Ranking is based on transaction between 1/1/2001-12/31/05 and excludes split rated, mortgage and asset-backed securities; full credit to lead manager, equal if joint.

Learn more about Jefferies High Yield Capital Markets

January 1, 2006
Jefferies Ranks as Top 5 Equity Underwriter

According to Equidesk, Jefferies ranked as the #3 firm on Wall Street, based on the performance of lead-managed equity underwritings for the period of January 1, 2005 - December 31, 2005. Transactions included Lead-managed IPOs & FOs, U.S. issuer, excludes best efforts & closed end funds, for leads with 10 or more deals.

Learn more about Jefferies Equity Capital Markets