Lazard World Dividend & Income Fund Declares Monthly Dividend

NEW YORK--(Business Wire)--The Board of Directors of Lazard World Dividend & Income Fund
(NYSE:LOR) has authorized the Fund to declare today a monthly dividend
distribution of $0.1167 per share on the company's outstanding common
stock. The dividend is payable on February 21, 2008 to shareholders of
record on February 11, 2008. The ex-dividend date is February 7, 2008.

Inclusive of today's declared distribution, the cumulative
distributions of net investment income and capital gains, for the last
12 monthly periods total $4.3823 per share and represent a market
yield of 22.5%, based on the share price of $19.45 at the close of New
York Stock Exchange trading on December 31, 2007*.

Portfolio data as of December 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, www.Lazardnet.com.

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 billion worth of client
assets. For more information about LAM, please go to
www.Lazardnet.com.

* 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.

Lazard World Dividend & Income Fund
Media
Judi Mackey, +1-212-632-1428
judi.mackey@lazard.com
or
Investors
Ben Wulfsohn, +1-800-828-5548
ben.wulfsohn@lazard.com

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