KEN COSTA JOINS LAZARD TO LEAD UK INVESTMENT BANKING WITH WILLIAM RUCKER

LONDON, 6 September 2007 – Lazard Ltd (NYSE:LAZ) announced today that Ken Costa will lead itsUK Investment Banking business alongside William Rucker, CEO of Lazard in London. Mr. Costa willjoin the firm in October from UBS, where he was Chairman of Investment Banking for Europe, theMiddle East and Africa. Mr. Costa will be named Chairman of Lazard International and a DeputyChairman of Lazard.“Ken Costa embodies the special character of Lazard," said Bruce Wasserstein, Chairman and ChiefExecutive Officer of Lazard. "I have known him for over 20 years as a banker of unusual talent,