Lazare Kaplan International Inc.

NEW YORK, Oct. 8 /PRNewswire-FirstCall/ -- Lazare Kaplan International Inc.
(Amex: LKI) (the "Company") announced that it has submitted a plan (the
"Plan") to NYSE AMEX LLC (the "Exchange") on October 7, 2009, which outlines
the Company's plan to regain compliance with the Exchange's continued listing
requirements. The Exchange has not as of yet provided the Company with a time
table for its formal response to the Plan, and the Plan's acceptance is at the
discretion of the Exchange. If the Plan is accepted, the Company expects that
it will be subject to periodic review by the Exchange to determine whether it
is making progress consistent with the Plan.

For further information regarding this matter, the Company refers interested
parties to its Forms 8-K filed with the Securities and Exchange Commission as
of September 16, 2009, September 29, 2009 and October 8, 2009.

Lazare Kaplan International Inc. sells its diamonds and jewelry products
through a worldwide distribution network. The Company is noted for its ideal
cut diamonds, which it markets internationally under the brand name, Lazare
Diamonds®.

Except for historical information contained herein, the statements in this
release are forward-looking and made pursuant to the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995. Forward-looking
statements involve known and unknown risks and uncertainties which may cause
the Company's actual results in future periods to differ materially from
forecasted results. Those risks include a softening of retailer or consumer
acceptance of, or demand for, the Company's products, pricing pressures,
adequate supply of rough diamonds, liquidity, and other competitive factors.
These and other risks are more fully described in the Company's filings with
the Securities and Exchange Commission. The information contained in this
press release is accurate only as of the date issued. Investors should not
assume that the statements made in these documents remain operative at a later
time. Lazare Kaplan International Inc. undertakes no obligation to update any
information contained in this news release.

SOURCE Lazare Kaplan International Inc.

Edward Nebb of Comm-Counsellors, LLC for Lazare Kaplan International Inc.,
+1-203-972-8350