Company Press Release

NEW YORK--(EON: Enhanced Online News)--Lazard Asset Management LLC (LAM) today announced the U.S. launch of the Lazard Global Fixed Income Portfolio (the “Portfolio”) (NASDAQ: LZGIX, LZGOX). This new fixed income mutual fund is available to both institutional and individual investors.

“The Lazard Global Fixed Income Portfolio offers investors a dynamic and globally diversified approach to bond markets,” said Charlie Carroll, a Deputy Chairman at LAM. “Our highly experienced investment team has managed this global fixed income strategy at LAM for nearly a decade, leveraging Lazard’s deep global fixed income and equity resources. This strategy offers investors the opportunity to capitalize on unsynchronized economic and interest rate cycles and a means to diversify U.S. dollar exposure.”

The Lazard Global Fixed Income Portfolio seeks to enhance returns by selectively rotating investments between countries and sectors across the universe of global fixed income securities, while tactically managing exposure to foreign currencies. The investment team uses a relative value approach driven by their macroeconomic insights, combined with bottom-up security analysis. The Portfolio is opportunistic and focuses on identifying and exploiting market inefficiencies in often hidden undervalued and overlooked markets and securities.

The Portfolio is managed by Yvette Klevan and Jared Daniels, CFA, Portfolio Manager/Analysts on LAM’s Global Fixed Income team. Ms. Klevan, a Managing Director, joined the firm in 2002 from Offitbank, where she was a Senior Portfolio Manager. Mr. Daniels, a Director, joined the firm in 1998 from CIBC Oppenheimer.

An indirect subsidiary of Lazard Ltd (NYSE: LAZ), LAM offers a range of equity, fixed-income, and alternative investment products worldwide. As of December 31, 2011, LAM and affiliated asset management companies in the Lazard group managed $141 billion worth of client assets. For more information about LAM, please go to www.Lazardnet.com.

About Lazard

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 www.lazard.com. Information and opinions presented have been obtained or derived from sources believed by Lazard to be reliable. Lazard makes no representation as to their accuracy or completeness. All opinions expressed herein are as of the date of this presentation and are subject to change.

An investment in bonds carries risk. If interest rates rise, bond prices usually decline. The longer a bond’s maturity, the greater the impact a change in interest rates can have on its price. If you do not hold a bond until maturity, you may experience a gain or loss when you sell. Bonds also carry the risk of default, which is the risk that the issuer is unable to make further income and principal payments. Other risks, including inflation risk, call risk, and pre-payment risk, also apply. Securities in certain non-domestic countries may be less liquid, more volatile, and less subject to governmental supervision than in one’s home market. The values of these securities may be affected by changes in currency rates, application of a country’s specific tax laws, changes in government administration, and economic and monetary policy. Derivatives transactions, including those entered into for hedging purposes, may reduce returns or increase volatility, perhaps substantially. Forward currency contracts and other derivatives investments are subject to the risk of default by the counterparty, can be illiquid, and are subject to many of the risks of, and can be highly sensitive to changes in the value of, the related currency or other reference asset. As such, a small investment could have a potentially large impact on performance. Use of derivatives transactions, even if entered into for hedging purposes, may cause losses greater than if the Portfolio had not engaged in such transactions.

Please consider a fund’s investment objectives, risks, charges, and expenses carefully before investing. For more complete information about The Lazard Funds, Inc. (the “Lazard Funds”) and current performance, you may obtain a prospectus or summary prospectus by calling 800-823-6300 or going to www.LazardNet.com. Read the prospectus or summary prospectus carefully before you invest. The prospectus and/or summary prospectus contain investment objectives, risks, charges, expenses, and other information about the Portfolio and the Lazard Funds that may not be detailed in this document. The Lazard Funds are distributed by Lazard Asset Management Securities LLC. Lazard Asset Management LLC serves as the investment manager of the Lazard Funds.