[Letterhead of Jefferies Group, Inc.]

July 2, 2009

Via EDGAR — CORRES

Kevin Woody
Branch Chief
Division of Corporation Finance
United States Securities and Exchange Commission
Washington, D.C. 20549

     Re:     Jefferies Group Inc.
Form 10-K for the fiscal year ended December 31, 2008
Filed February 27, 2009
File Number 001-14947

Dear Mr. Woody:

     As discussed telephonically with the staff on June 29, 2009, we will disclose future downgrades to our long-term debt ratings, if any, in our periodic reports.

     Please feel free to contact the undersigned at 310-914-1373 with any questions.

Sincerely,
 

/s/ Roland T. Kelly  

Roland T. Kelly 

Assistant Secretary