Richard B. Handler, Chairman and CEO of Jefferies, commented, "We have long admired Ben Lorello's capability to help companies achieve their strategic and financial objectives, and his success in building an industry-leading global healthcare franchise. We expect that with Ben's added leadership, and the intensity and commitment he brings to Wall Street, Jefferies will significantly expand the firm's global investment banking footprint."

"I have watched Jefferies emerge this decade as a major investment banking firm capable of delivering a full range of services to both large and mid-sized corporate clients across the world," said Mr. Lorello. "I look forward to working with the entire Jefferies team to continue to expand the firm's investment banking presence."

Mr. Lorello has over 32 years of investment banking experience on Wall Street. Prior to joining Jefferies, Mr. Lorello was employed by UBS for over 10 years, where he served as Vice Chairman and Global Head of Healthcare Investment Banking, and built and managed the largest healthcare investment banking group in the world. Prior to joining that firm, Mr. Lorello was employed by Salomon Smith Barney for 15 years, where he served as Managing Director and Global Head of Healthcare Investment Banking, and for seven years at Shearson Lehman Brothers in investment banking.

About Jefferies

Jefferies, a major 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. Jefferies & Company, Inc. is the principal operating subsidiary of Jefferies Group, Inc. (NYSE: JEF: www.jefferies.com).

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