EXHIBIT 99
[Letterhead of Lubar & Co.]
Mr. Richard Handler
Chairman
Jefferies & Co.
The Metro Center
One Station Place
Three North
Stamford, CT 06902
Dear Rich:
Pursuant to our recent conversations, I am tendering my resignation from the Board of Directors of Jefferies Groups, Inc. effective October 31, 2002.
I wish you and the Company continued success and prosperity in the future.
| Sincerely, | |
| /s/ Sheldon B. Lubar | |
| Sheldon B. Lubar |
SBL:mbw
