X0303 4 2011-04-08 0 0001084580 JEFFERIES GROUP INC /DE/ JEF 0001213601 CUMMING IAN M. C/O LEUCADIA NATIONAL CORPORATION 315 PARK AVENUE SOUTH NY 10010 1 0 0 0 Common Stock 14601.484 D Common Stock 2011-04-08 4 P 0 5154639 24.25 A 54506024 I See Explanation Reflects shares of Issuer's common stock beneficially owned by Leucadia National Corporation ("Leucadia"). The Reporting Person is a significant shareholder and Chairman of the Board of Leucadia. The Reporting Person disclaims beneficial ownership of the Issuer's common stock owned beneficially by Leucadia, except to the extent of his pecuniary interest, if any. /s/ Ian M. Cumming 2011-04-11