Jefferies Statement on Sovereign Debt of Portugal, Italy, Ireland, Greece, and Spain

Jefferies

confirmed today, in response to questions from investors and analysts, that it currently has no meaningful exposure to the sovereign debt of the nations of Portugal, Italy, Ireland, Greece, and Spain. To the extent Jefferies from time to time takes positions in such debt, they are short term in nature, are recorded in the trading book of Jefferies' regulated UK broker-dealer, are marked to market daily, and fluctuate depending upon customer demand, auction activity, and opportunities in the market place. Jefferies does not have any repo-to-maturity activity or related off-balance-sheet derivative activity.