Jefferies Adds Senior Analyst for Semiconductor Devices; John Lau is L

    Business Editors

    NEW YORK--(BUSINESS WIRE)--March 7, 2005--Jefferies & Company, Inc. (Jefferies), the principal operating subsidiary of Jefferies Group, Inc. (NYSE: JEF), today announced the hiring of John Lau as a Managing Director and Senior Equity Research Analyst for semiconductor devices.
    Mr. Lau, who was ranked the #1 semiconductor analyst in the 2003 Best on the Street survey by The Wall Street Journal, will focus his coverage universe on semiconductor device companies serving the personal computer, wireless/RF and analog devices industries. His hiring follows last year's additions of Cristina T. Osmena in April to cover the semiconductor capital equipment industry, Titus V. Menzies in July to cover the European semiconductor industry, and Adam L. Benjamin in August to cover the consumer and comm IC segments within semiconductor devices.
    Since April 2004, Jefferies and its affiliates in Europe have hired nine senior technology research analysts as part of the firm's overall focus on the Technology Sector. With the addition of Mr. Lau, Jefferies and its affiliates now cover the following technology industries: communications equipment, infrastructure & enterprise application software, Internet & new media, IT services, semiconductor consumer and comm IC, semiconductor capital equipment, and semiconductor devices. This continued expansion of resources demonstrates Jefferies' overall commitment to this strategic segment of the world economy.
    "John Lau is a highly regarded semi-devices analyst with excellent industry and Wall Street experience," said Steven R. Black, Director of Equity Research at Jefferies. "His background and relationships will immediately enhance Jefferies' technology research franchise."
    Mr. Lau has been involved in the semiconductor industry for more than twenty years. Prior to joining Jefferies, he was Managing Director of semiconductor devices research at Banc of America Securities for nearly two years. He held similar positions at RBC Capital Markets and Soundview Technology Group. Previously, Mr. Lau held a number of positions at semiconductor and related companies. He received an MBA from the Adelphia University School of Business and a Bachelors of Science degree in Electrical Engineering at Columbia University.
    Mr. Lau will be based in Jefferies' New York headquarters office and will report to Mr. Black.

    About Jefferies

    Jefferies, a global investment bank and institutional securities firm, has served growing and mid-sized companies and their investors for over 40 years. Headquartered in New York, with more than 20 offices around the world, Jefferies provides clients with capital markets and financial advisory services, institutional brokerage, securities research and asset management. The firm is a leading provider of trade execution in equity, high yield, convertible and international securities for institutional investors and high net worth individuals. Jefferies & Company, Inc. is the principal operating subsidiary of Jefferies Group, Inc. (NYSE: JEF; www.jefco.com).

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CONTACT: Jefferies & Company, Inc. Tom Tarrant, 203-708-5989 ttarrant@jefco.com

KEYWORD: NEW YORK INDUSTRY KEYWORD: BANKING MANAGEMENT CHANGES SOURCE: Jefferies & Company, Inc.

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