Jefferies Strengthens Global Healthcare Investment Banking Team With Senior Hire In London

LONDON and NEW YORK, April 2 /PRNewswire/ -- The Jefferies investment bank today announced the hiring of Ronald Openshaw as a Director of Investment Banking within Jefferies' European healthcare practice. Building on Jefferies' established expertise in M&A and the capital markets, this addition further strengthens the Firm's global capabilities in this dynamic, high growth sector.

The hiring of Mr. Openshaw follows the recent appointment of David Weaver as Head of International Investment Banking at Jefferies and is part of the ongoing significant expansion of the Firm's global presence. Mr. Openshaw joins the efforts of Jefferies' established US-based healthcare investment banking practice, which includes nearly 30 professionals and is led by Ray Minella. The healthcare sector has long been a focus area for Jefferies, which offers a full range of investment banking services for healthcare companies over a wide range of related industries, including healthcare services, contract research organizations, biotechnology, pharmaceuticals, and medical devices. In 2006, Jefferies completed nearly 35 healthcare transactions, valued at $3 billion.

The Firm's broader focus on the global healthcare sector also includes six dedicated securities traders and ten senior research analysts covering more than 120 companies in healthcare services and life sciences.

Clifford A. Siegel, CEO of Jefferies International Limited, commented:

"Ronald Openshaw's experience in management and advisory roles, and his extensive relationships are very complementary to Jefferies' established US- based efforts in healthcare investment banking. His deep industry knowledge and contacts will greatly enhance the scope and reach of our capital markets and M&A capabilities as well as our ability to serve growing healthcare companies around the globe."

Mr. Openshaw commented:

"I was attracted to Jefferies by the Firm's clear focus in serving growing and mid-sized clients on a global basis, as well as the secure base established in London and the opportunity to extend the excellent franchise developed in the US. I look forward to leveraging for our clients' benefit my industry experience and many years in investment banking."

Mr. Openshaw brings with him 19 years of experience in advisory and management roles. He has led numerous IPOs, secondary financings and M&A transactions for many high profile healthcare companies, including Shire plc, Gyrus Group plc, PowderJect Pharmaceuticals plc, and Protherics plc. Mr. Openshaw was instrumental in the merger of Asterand, Inc. and Pharmagene plc, now Asterand plc., an LSE-listed biotechnology company focused on tissue research, where he worked previously. Mr. Openshaw joined Pharmagene plc in 2003 to lead its merger and acquisition activity and held the roles of CFO and acting CEO during his three and half year tenure. Previously, Mr. Openshaw was an Executive Director at Panmure Gordon & Co. / WestLB Panmure in the Life Sciences Group.

Mr. Openshaw joins Jefferies International Limited, a subsidiary of US- based Jefferies Group, Inc. (NYSE: JEF) , and is in London, where the Firm has nearly 300 employees engaged in investment banking, securities brokerage, research and asset management activities.

Jefferies provides a full range of investment banking services to growing companies worldwide in a number of growth sectors, including technology, energy, healthcare and aerospace and defence. The Firm worked on more than 350 transactions worth over $145 billion during 2006, with 165 debt and equity capital raisings and 190 merger, acquisition and restructuring engagements, including more than 80 transactions for European and Asian companies worth over $23 billion. Jefferies International Limited is a member of the London Stock Exchange and acquired Nomad accreditation on the Alternative Investment Market (AIM) in 2006. Beyond the UK, Jefferies International Limited is a member of the Deutsche Borse (Xetra electronic trading platform), Euronext, Oslo Bors and Dubai International Financial Exchange (DIFX).

About Jefferies

Jefferies, a global investment bank and institutional securities firm, has served growing and mid-sized companies and their investors for 45 years. Headquartered in New York, with more than 25 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; http://www.jefferies.com/). Jefferies International Limited, a UK-incorporated, wholly owned subsidiary of Jefferies Group, Inc., was established in London in 1985 and is authorized and regulated by the Financial Services Authority ("FSA").

For further information, please contact:

Tom Tarrant, Jefferies & Company, Inc., +1 203 708 5989, ttarrant@jefferies.com

Desiree Maghoo, Cubitt Consulting, + 44 207 367 5107, desiree.maghoo@cubitt.com

Todd Miller of Cubitt, Jacobs & Prosek Communications 203-378-1152 x 149