X0304 4 2011-08-15 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 2011-08-15 4 A 0 60.67 16.56 A 18936.348 D Common Stock 54506024 I See Explanation Acquisition of deferred shares as a result of dividend reinvestment under the Jefferies Group, Inc. 1999 Directors' Stock Compensation Plan in a transaction exempt under Rule 16-b(3)(d)(1) & (2) under the Securities Exchange Act of 1934. 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 2011-08-16