Media contacts: Investor contacts:

Judi Frost Mackey, +1 212 632 1428 Matthieu Bucaille, +1 212 632 6259 judi.mackey@lazard.comChief Financial Officer

Richard Creswell, +44 207 187 2305 Investor Relations, +1 212 632 2685 richard.creswell@lazard.comor 1 877 266 8601(US only)

investorrelations@lazard.com

LAZARD TO ANNOUNCE FULL-YEAR AND FOURTH-QUARTER 2011 RESULTS

NEW YORK, January 25, 2012- Lazard Ltd (NYSE: LAZ) will announce its full-year and fourth- quarter 2011 results in a news release to be issued before the opening of The New York Stock Exchange on Monday, February 6, 2012.

The press release will be available on Lazard's website at: www.lazard.com.

Kenneth M. Jacobs, Chairman and Chief Executive Officer, and Matthieu Bucaille, Chief Financial Officer, will host a conference call on Monday, February 6, 2012, at 10:00 a.m. EST to discuss the company's financial results for the full year and fourth quarter of 2011. The conference call can be accessed via a live audio webcast available through Lazard's Investor Relations website at www.lazard.com, or by dialing 1 (877) 852-6583 (U.S. and Canada) or +1 (719) 325-4926 (outside of the U.S. and Canada), 10 minutes prior to the start of the conference call.

A replay of the conference call will be available beginning February 6, 2012, at 1:00 p.m. EST, through February 20, 2012, via the Lazard Investor Relations website, or by dialing 1 (888) 203-

1112 (for the U.S. and Canada) or +1 (719) 457-0820 (outside of the U.S. and Canada). The

replay access code is 4948230.

About Lazard

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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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Cautionary Note Regarding Forward-Looking Statements

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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Lazard Ltd is committed to providing timely and accurate information to the investing public, consistent with our legal and regulatory obligations. To that end, Lazard and its operating companies use their websites to convey information about their businesses, including the anticipated release of quarterly financial results, quarterly financial, statistical and business-related information, and the posting of updates of assets under management in various hedge funds and mutual funds and other investment products managed by Lazard Asset Management LLC and its subsidiaries. Monthly updates of these funds will be posted to the Lazard Asset Management website (www.lazardnet.com) on the third business day following the end of each month. Investors can link to Lazard and its operating company websites through www.lazard.com .

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