Lazard Declares Special Dividend and Accelerates Payment of Quarterly Dividend

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Lazard Declares Special Dividend and Accelerates Payment of Quarterly Dividend

<0> Lazard:Judi Frost Mackey, +1-212-632-1428or:Kathryn Harmon, +1-212-632-6637 </0>

Lazard Ltd (NYSE: LAZ), today announced that its Board of Directors has voted to declare a special dividend of $0.20 per share on its outstanding Class A common stock. The special dividend is payable on December 27, 2012, to stockholders of record on December 21, 2012.

The Board of Directors has also voted to accelerate the payment and record dates of Lazard’s next regular quarterly dividend of $0.20 per share on its outstanding Class A common stock, which ordinarily would have been payable in February 2013. The accelerated dividend is payable on December 27, 2012, to stockholders of record on December 21, 2012.

These actions reflect Lazard’s ongoing commitment to return capital to stockholders through dividends and share repurchases.

Lazard, one of the world's preeminent financial advisory and asset management firms, operates from 42 cities across 27 countries in North America, Europe, Asia, Australia, Central and South America. With origins dating back to 1848, the firm provides advice on mergers and acquisitions, strategic matters, restructuring and capital structure, capital raising and corporate finance, as well as asset management services to corporations, partnerships, institutions, governments and individuals. For more information on Lazard, please visit .