Jefferies Designated Primary Dealer by the Federal Reserve Bank of New York

Business Wire, June 17, 2009

NEW YORK -- Jefferies & Company, Inc., the principal operating subsidiary of Jefferies Group, Inc. (NYSE: JEF), today announced that it has been designated as a Primary Dealer by the Federal Reserve Bank of New York (FRBNY), effective June 18, 2009. As a Primary Dealer, Jefferies will be a counterparty to FRBNY in its open market operations, will participate directly in Treasury auctions, and will provide market information and analysis to the trading desks at the FRBNY.

“We are very pleased to announce that Jefferies has been named as a Primary Dealer by the Federal Reserve Bank of New York and see this designation as a natural extension of and complement to our existing businesses,” commented Richard B. Handler, Chairman and CEO of Jefferies.

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).