LAZARD LT : Gerald Rosenfeld Rejoins Lazard

Lazard Ltd (NYSE: LAZ) announced today that Gerald Rosenfeld will join as Strategic Advisor to the firm and as a Vice Chairman of US Investment Banking, effective March 1, 2011. Mr. Rosenfeld, based in New York, most recently served as Deputy Chairman of Rothschild North America. He was a Managing Director and Head of US Investment Banking at Lazard for six years in the 1990s.

?I am pleased to welcome Jerry back to Lazard,? said Lazard Chairman and Chief Executive Officer Kenneth M. Jacobs. ?His experience, combined with his history at Lazard, will be a great benefit to our firm and to me. He has earned the role of trusted advisor to countless CEOs and corporate leaders, and has led major transactions across a broad realm of industries.?

?I look forward to rejoining Lazard and working again with Ken and his leadership team,? said Mr. Rosenfeld. ?I am glad for the opportunity to contribute to the future success of the firm.?

Mr. Rosenfeld served as Chief Executive Officer of Rothschild North America from 1999 until 2007. Previously, he was President of G. Rosenfeld & Co., an investment banking firm he founded in 1998. Prior to joining Lazard in 1992, Mr. Rosenfeld held management positions at Bankers Trust Company, Salomon Inc. and its Salomon Brothers subsidiary, and McKinsey & Company.

He is a Distinguished Scholar in Residence at the New York University School of Law and a Clinical Professor of Business at the New York University Leonard N. Stern School of Business, where he also serves on the Board of Overseers. He is director and Chair of the Risk Management Committee for CIT Group and a director of Continental Grain Company. He also is a Fellow of the American Academy of Arts & Sciences. He holds a Ph.D. in applied Mathematics from New York University.

About Lazard

Lazard, one of the world's preeminent financial advisory and asset management firms, operates from 41 cities across 26 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.

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This press release contains ?forward-looking statements.? In some cases, you can identify these statements by forward-looking words such as ?may,? ?might,? ?will,? ?should,? ?expect,? ?plan,? ?anticipate,? ?believe,? ?estimate,? ?predict,? ?potential? or ?continue,? and the negative of these terms and other comparable terminology. These forward-looking statements are not historical facts but instead represent only our belief regarding future results, many of which, by their nature, are inherently uncertain and outside of our control. There are important factors that could cause our actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by these forward-looking statements.

These factors include, but are not limited to, those discussed in our Annual Report on Form 10-K under Item 1A ?Risk Factors,? and also disclosed from time to time in reports on Forms 10-Q and 8-K including the following:

• A decline in general economic conditions or the global financial markets;
• Losses caused by financial or other problems experienced by third parties;
• Losses due to unidentified or unanticipated risks;
• A lack of liquidity, i.e., ready access to funds, for use in our businesses; and
• Competitive pressure.

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