Lazard World Dividend & Income Fund Declares Year-End Dividend

Inclusive of today’s declared distribution, the cumulative distributions for the fiscal year 2007 total $4.3823 per share and represent a market yield of 19.6%, based on the share price of $22.36 at the close of New York Stock Exchange trading on October 31, 2007*. It is currently estimated that the cumulative distributions for 2007 will constitute $1.7185 of net investment income (39.2%), $1.2104 of net realized short-term capital gains (27.6%), and $1.4534 of net realized long-term capital gains (33.2%). The amounts and sources of distributions reported are only estimates and are not for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send shareholders a Form 1099-DIV for the calendar year that will tell them how to report these distributions for federal income tax purposes. Shareholders should not draw any conclusions about the Fund’s investment performance from the amount of this distribution.

Portfolio data as of October 31, 2007 including performance, asset allocation, top 10 holdings, sector weightings, regional exposure, and other Fund characteristics have been posted on Lazard Asset Management’s website, .

The Fund’s objective is total return, through a combination of dividends, income, and capital appreciation. The Fund’s net assets are invested in a portfolio of approximately 60 to 90 world equity securities, consisting primarily of the highest dividend-yielding stocks selected from the current holdings of other accounts managed by Lazard Asset Management. The equity portfolio is broadly diversified in both developed and emerging market countries and across the capitalization spectrum. The Fund seeks enhanced income by investing in short duration (typically below one year) emerging market forward currency contracts and other emerging market debt instruments.

An indirect subsidiary of Lazard Ltd, Lazard Asset Management LLC (LAM), the Fund’s investment manager, offers a range of equity, fixed-income, and alternative investment products worldwide. As of September 30, 2007, LAM and affiliated asset management companies in the Lazard Group managed more than $142.1 billion worth of client assets. For more information about LAM, please go to .

* Price and yields will fluctuate with changes in market conditions. Market return does not represent the total return on an investment. Distributions are subject to re-characterization for tax purposes after the end of the fiscal year. If the Fund pays distributions in excess of its net taxable income, this excess would be a return of capital.