Lazard Asset Management LLC (LAM) today announced the expansion of its global fund offerings with the launch of the Lazard Global Equity Select Portfolio (NASDAQ: Institutional: GESIX; Open: GESOX).

The Lazard Global Equity Select Portfolio (the "Portfolio") seeks long-term capital appreciation by investing in companies worldwide with strong and/or improving financial productivity which trade at attractive valuations across the market capitalization spectrum. The Portfolio is based on the existing Lazard Global Equity Select strategy, which has been managed at LAM for the past 20 years, and is designed to offer investors access to LAM's best ideas globally.

"In a dynamic global marketplace, opportunities arise in some regions and sectors while at the same time others face challenges," said Ronald Temple, Managing Director and Portfolio Manager. "We seek to take advantage of these divergent opportunities by harnessing LAM's global research and expertise, and by allocating capital flexibly to the best opportunities, regardless of where a company is located."

"Global investing is ingrained in LAM's culture. Our deep roots in every key region of the world and our global industry research delivers local insight with global perspective," said Charles Carroll, Deputy Chairman and Head of Global Marketing, LAM. "The Lazard Global Equity Select Portfolio brings together all the strengths of LAM's worldwide investment organization."

The portfolio management team, located in New York and London, has an average of over 20 years of investment experience and is comprised of Andrew Lacey, Ronald Temple, Louis Florentin-Lee, Patrick Ryan, and Martin Flood.

An indirect subsidiary of Lazard Ltd (NYSE:LAZ), LAM offers a range of equity, fixed-income, and alternative investment products worldwide. As of September 30, 2013, LAM and affiliated asset management companies in the Lazard Group managed $176 billion worth of client assets. For more information about LAM, please visit www.Lazardnet.com.

About Lazard

Lazard, one of the world's preeminent financial advisory and asset management firms, operates from 40 cities across 26 countries in North America, Europe, Asia, Australia, Central and South America. With origins dating 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.

The value of your investment in the Portfolio will fluctuate, which means you could lose money. Equity securities will fluctuate in price; the value of your investment will thus fluctuate, and this may result in a loss. The Portfolio's performance will be influenced by political, social and economic factors affecting the non-US countries and companies in which the Portfolio invests. Non-US securities carry special risks, such as exposure to less developed or less efficient trading markets, political instability, a lack of company information, differing auditing and legal standards, and, potentially, less liquidity.

The securities of large cap companies may underperform other segments of the market because such companies may be less responsive to competitive challenges and opportunities and may be unable to attain high growth rates during periods of economic expansion.

The Portfolio invests in stocks believed by Lazard to be undervalued, but that may not realize their perceived value for extended periods of time or may never realize their perceived value. The stocks in which the Portfolio invests may respond differently to market and other developments than other types of stocks. Small- and mid-capitalization stocks may be subject to higher degrees of risk, their earnings may be less predictable, their prices more volatile, and their liquidity less than that of large-capitalization or more established companies' securities.

Emerging market countries can generally have economic structures that are less diverse and mature, and political systems that are less stable, than those of developed countries. The securities markets of emerging market countries have historically been extremely volatile. However, capital markets worldwide have experienced unprecedented volatility in recent years, causing significant declines in valuation and liquidity in certain emerging markets. These market conditions may continue or worsen. Significant devaluation of emerging market currencies against the US dollar may occur subsequent to acquisition of investments denominated in emerging market currencies.

Market risks, including political, regulatory, market and economic developments, and developments that impact specific economic sectors, industries or segments of the market, can affect the value of the Portfolio's investments. In addition, turbulence in financial markets and reduced liquidity in equity, credit and/or fixed income markets may negatively affect many issuers, which could adversely affect the Portfolio. The value of a security may decline for a number of reasons which directly relate to the issuer, such as management performance, financial leverage and reduced demand for the issuer's goods or services, as well as the historical and prospective earnings of the issuer and the value of its assets.

Although the Portfolio is classified as "diversified" under the Investment Company Act of 1940, as amended, it may invest in a smaller number of issuers than other, more diversified investment portfolios. The Portfolio's net asset value may be more vulnerable to changes in the market value of a single issuer or group of issuers and may be relatively more susceptible to adverse effects from any single corporate, industry, economic, market, political or regulatory occurrence than if the Portfolio's investments consisted of securities issued by a larger number of issuers.

Please consider a fund's investment objectives, risks, charges, and expenses carefully before investing. For more complete information about The Lazard Funds, Inc. 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 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.

Media:
Lazard Asset Management LLC
Judi Mackey, +1 212-632-1428
judi.mackey@lazard.com
or
Clare Pickett, +1 212-632-6963
clare.pickett@lazard.com