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Judi Frost Mackey, +1 212 632 1428 Clare Pickett, +1 212 632 6963 judi.mackey@lazard.com clare.pickett@lazard.com

LAZARD HIRES DAVID CECIL AS A MANAGING DIRECTOR, FINANCIAL ADVISORY - Joins Energy Group in Houston -

NEW YORK, May 17, 2012 - Lazard Ltd (NYSE: LAZ) today announced that David Cecil has joined the firm as a Managing Director, Financial Advisory, and Head of North American Exploration and Production. Mr. Cecil was a Managing Director and Co-Head of Scotia Waterous (USA), the oil and gas arm of Scotiabank, where he co-led the U.S. energy investment banking practice. He is based in Houston.
Mr. Cecil has advised oil and gas companies on mergers and acquisitions and capital markets transactions since 1998. He brings well-established relationships with U.S. exploration and production companies, certain major international energy companies, and energy-related private equity companies.
Prior to joining Scotia Waterous in 2007, Mr. Cecil was a Managing Director in the U.S. energy investment banking group at BMO Capital Markets. Mr. Cecil holds an MBA from Duke University and a Bachelor of Business Administration from The University of Texas.

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.
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