The Board of Directors of Lazard World Dividend & Income Fund (NYSE:LOR) today declared a dividend distribution of $1.0692 per share on the company's outstanding common stock. The distribution comprises the Fund's regular declared monthly dividend of $0.1167, as well as the 2006 spillback distribution (pursuant to Section 855 of the Internal Revenue Code) of $0.9525 per share. The spillback distribution includes undistributed net investment income of $0.0889, short-term capital gains of $0.3528, and long-term capital gains of $0.5108, realized by the Fund prior to 2007. The distribution does not represent a return of investor's capital. In October, the Fund expects to resume its historical monthly distribution of $0.1167 per share. The dividend is payable on September 24, 2007 to shareholders of record on September 12, 2007. The ex-dividend date is September 10, 2007.

Inclusive of today's declared distribution, the cumulative distributions of net investment income and capital gains, for the last 12 monthly periods total $4.0562 per share and represent a market yield of 19.0%, based on the share price of $21.39 at the close of New York Stock Exchange trading on July 31, 2007*.

Portfolio data as of July 31, 2007 including performance, asset allocation, top 10 holdings, sector weightings, regional exposure, and other Fund characteristics will be 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 June 30, 2007, LAM and affiliated asset management companies in the Lazard Group managed more than $135 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