Filed Pursuant to Rule 163
Registration No. 333-160214
Jefferies Forecasts Record Second Quarter Net Revenues in Excess of $500 Million, with Second
Quarter Net Earnings Estimated to Exceed $50 Million
NEW YORK(BUSINESS WIRE)June 24, 2009Jefferies Group, Inc. (NYSE: JEF) today issued the
following guidance about its anticipated results for the second quarter ending June 30, 2009.
Based on results to date and absent any significant change to current market conditions in the
final four business days of the calendar quarter, Jefferies expects to report net earnings for the
second quarter of greater than $50 million on record net revenues that are expected to exceed $500
million. The firm expects that Fixed Income and Commodities revenues will exceed the record set in
the first quarter of 2009, driven by record quarterly results in the sales and trading of corporate
bonds, mortgage- and asset backed securities, rates, municipal bonds and emerging markets debt.
In addition, solid contributions are expected from other business lines that make up the firms
full-service diversified platform, including meaningful positive results in High Yield. The firm
also expects Investment Banking revenues for the second quarter to exceed $90 million, which would
be an increase of 146% vs. first quarter 2009 results.
Actual results for the second quarter ending June 30, 2009 are expected to be released on July 21,
2009. The factors that favorably affected Jefferies markets in the second quarter to date may not
continue and, therefore, Jefferies results for the second quarter to date may not be indicative of
Jefferies results for the full year.
FORWARD LOOKING STATEMENT
This press release contains forward-looking statements regarding Jefferies results for the second
quarter ending June 30, 2009, including but not limited to, revenues and net earnings and revenues
from Fixed Income and Commodities, Investment Banking, High Yield trading and other business lines.
These forward-looking statements are not statements of historical fact and represent only
Jefferies belief as of the date hereof and are subject to the actual close of the quarter ending
June 30, 2009. There are a variety of factors, many of which are beyond Jefferies control, which
affect its operations, performance, business strategy and results, and could cause actual reported
results and performance to differ materially from the performance and expectations expressed in
these forward-looking statements. These factors include, but are not limited to, financial market
volatility, actions and initiatives by current and future competitors, general economic conditions,
controls and procedures relating to the close of the quarter, the effects of current, pending and
future legislation or rulemaking by regulatory or self-regulatory bodies, regulatory actions, and
the other risks and uncertainties that are outlined in Jefferies Annual Report on Form 10-K for
the year ended December 31, 2008 filed with the Securities & Exchange Commission on February 27,
2009 and in Jefferies Quarterly Report on Form 10-Q for the quarter ended March 31, 2009 filed with
the Securities and Exchange Commission on May 8, 2009. Readers are cautioned not to place undue
reliance on forward-looking statements, which speak only as of the date they are made. Jefferies
does not undertake to update forward-looking statements to reflect the impact of circumstances or
events that arise after the date of the forward-looking statements.
Jefferies may file a registration statement (including a prospectus) with the SEC with respect to
an offering of securities for which this press release will constitute a free writing prospectus.
Before you invest you should read the prospectus in that registration statement and other documents
that Jefferies has filed with the SEC for more complete information about Jefferies and such
offering. You may get these documents for free by visiting EDGAR on the SEC web site at
www.sec.gov. Alternatively, Jefferies will arrange to send you the prospectus after filing
if you request it by calling toll free 888-708-5831.
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:
For further information:
Jefferies & Company, Inc.
Tom Tarrant, 203-708-5989